Weekly Review DEC 1, 2024

How was your Turkey Day? Did you bust your “stretchy pants”???
Later that afternoon I took a little drive and hit one of my favorite trails to try and walk some of it off…..
Pic is down below

Tomorrow starts the first day of the last month of the year
For investors that counts. Fund Managers will be adding positions to their portfolios to try and show greater gains for the year. That’s not a bad thing, but it’s better to have been in the position at it’s breakout or turnaround than to wait, watch then try and catch

We here at theoptionscoach.net have been early on some great trades this past year
CAT, GEO and SFM all come to mind
Our latest treasure is COST…. We had it on our radar for a while but pulled the trigger on the turnaround when it was at $870.00… Currently it sits in the $970.00 area
Earlier this week we added the 970 / 1000 Bull Call Spreads for JAN 17, 2024
Currently we still like those and are holding here
We plan on adding more to it this week should the market cooperate and the stock is green ( We do not buy when the stock is red )

CAT is on hold here and no new adds until further strength enters
It won’t take much, I don’t always like saying things are on hold but we play defensively around here
Should it advance tomorrow then it is a go
The 410 / 420’s mentioned earlier this week will fall into play
For a longer term perspective this one, just like COST appears to have room to run
We like it here and plan on adding more to it this week should the market cooperate and the stock is green ( We do not buy when the stock is red )

SFM, lets talk
There’s this “Old Skool” thought in technical analysis that rings just as true today as it did a hundred years ago
Any time a stock breaks north of an existing up trending channel, and that former channels resistance line becomes new support, that then becomes strength on strength, or super strength if you will. Those types of trends do not come easy, or often
SFM is on hold here as it looks a to be getting a little long in the tooth, we like it for longer plays still but could see a short term pullback. After saying that if SFM goes on to do a “moonshot” this week #YourWelcome… 😁 

This week could be interesting, heck this entire month for that fact. Stocks on Friday wanted to go higher than they did, the hold up was lower volume with investors being gone for the holiday
“J-Pow” speaks this Wednesday afternoon, the markets are anticipating a 0.25% rate reduction

Tonight I plan to run some fresh scans to look for any new strength we may want to consider. If I find anything of value don’t be surprised if a 2nd newsletter goes out later

The Options Coach

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