What did it COST?

Well if anyone thought that J-Pow was going to help “the cause” they were reminded today how much that man hates people profiting in the stock market
Fed Chair Jerome Powell delivered remarks today stating that the market was strong enough to signal that the Fed can continue a cautious approach to reducing interest rates. The market didn’t shrug that off
All 3 major indexes closed red on the day after that along with most stocks

COST closed down 1%… As all of you know we here at theoptionscoach.net don’t buy on red days. With that being said we didn’t get our entry signal, the prices have now adjusted. That’s good that we can get in cheaper now. But it will have to prove itself before we do. OPEX isn’t until next week so we do have that on our side, for now. In the morning we will re-evaluate this. As I said this morning we are looking at going further out and not in a rush…

Speaking of long term we need to keep a eye on META
Yes I said that
Unless it reverses here and shoots north it is NOT A BUY yet, what it is doing however is forming a new box….. And it looks to be making a tight one. This could take a month to finish, it could take 5 months to finish, it will get there when it gets there>
Do you remember when I was saying that META was searching for 555? Look at the price at the bottom of the current box. We would love to see it hit that or maybe even a bit lower then reverse. Not saying it is for certain, I’m saying that would be ideal as it would shake out more “weak hands”

AMZN Those DEC 20, 2024 210 /220’s are still good, no need to adjust them yet

GEO, remember GEO? We’ve talked about it here a time or two
This morning it gave me a day trade opportunity
From the entry to the exit was literally less than 60 seconds
The profit on Options was over 38%. It’s time stamped
It says 4 under quantity, ummmm there was another digit after that….lol…..

GEO looks to be forming a high tight flag and could continue in the coming days
One thing of note is that on a 10 year chart it’s pretty extended and above resistance in a short period. We are not fans of rocket ships as they typically crash hard, any new plays should be watched closely
Tomorrow is another day

The Options Coach