Weekly Recap OCT 27, 2024

How was your weekend? Did you get outside? Did you go out in nature? I did, went hiking Saturday and Sunday both, lets talk about that later 😃 

Normally I don’t report on Futures on Sunday nights but tonight they’re green, all 3 major indexes are up by close to 0.5% It’s a long way until Monday morning open. And that’s why I typically don’t mention them, a lot can happen overnight that can change them

I’ve said it a few times now, yes the market is making fresh ATH’s left and right bit it’s a slow grind up, and percentage wise very few stocks are going any where fast.
NVDA is now back to the 140 range, but it hit that before 3 months ago
CAT gave us record numbers couple of months ago but it can’t seem to break above 400 and stay there
One that you don’t every see getting any recognition but we have been in since the start of MAY is SFM
It won’t be much longer and SFM will have doubled in price since we entered
That’s true strength

Earnings season is here, this is a always a good time to watch to see what breaks out, what holds it breakout, and better yet your own positions for any protection you may need to add if you don’t already have STOPs in place

This is the list of earnings this coming week from Yahoo Finance https://finance.yahoo.com/calendar/earnings/

Should the markets begin acting their seasonal self ( OCT, NOV and DEC are typically strong ) then we will become more aggressive. Some say the election ahs everyth8ing on hold, maybe. Right now we are not trying to outsmart the markets but rather be reactionary when opportunities present themselves like TSLA did this week. For Options traders money was made easier after the earnings announcement than being in it Pre announcement.
The reason is twofold
1st: The I.V. was sucked out after the announcement thus placing it at attractive levels that offered instant profits on any price movement
2nd: The price moved, a lotttttt….. 😁 

Check out the Heat Maps, I don’t like the Weekly this week, not at all
Not when the indexes are hitting fresh ATH’s every other day

I’d like to share with you a pic I took while hiking Saturday… From the location of the pic it wasn’t a normal hike but more like a mini mountain climb.. grrrr…
This wasn’t just normal big hills to get up there, it was grabbing tree branches, grabbing tree roots that stuck out of the ground, and forming human chains at times to pull each other up. It was no joke, any missteps could of been bad

Stock / Options Investing feels like that at times
No one here is saying that getting to the top is easy
I’m saying that all the work is worth it

Time for me to get to work and start looking at where all of our positions are in our model portfolio and see if we need to do any “rebalancing”
I’ll be surprised if we don’t

The Options Coach