IWM Update: 15 MayThe Russell has rallied higher in the last two sessions. In this video I take a look at two Elliott wave counts to determine if the correction is complete - or if we should expect further selloffs.
IWM
Believe it or Not, The RUT 2000 has Hit Major Support.The rut2000 has finally achieved the downside objective. Because of that, I am leaning long RUT stocks.
RTY DailyOversold on RSI and MFI, and it hit my target line which is the price level pre-COVID
Old resistance is new support so I expect a bounce around here, some garbage stocks are green already today
Rolling (IRA): IWM May 20th 180 Short Put to June 17th 179... for a 1.86 credit.
Comments: Not getting much strike improvement here, but collected 1% of the strike price in credit. Total credits collected of 1.90 (See Post Below) plus the 1.86 here, for a total of 3.76.
triple bottom playI bought a lot of small caps. I think this triple bottom play is going to pay off. Bought strong companies like NFLX.
5/11/22 BABoeing Company (The) ( NYSE:BA )
Sector: Electronic Technology (Aerospace & Defense)
Market Capitalization: $78.658B
Current Price: $132.95
Breakdown price: $130.20
Sell Zone (Top/Bottom Range): $167.05-$143.75
Price Target: $92.00-$90.90
Estimated Duration to Target: 129-137d
Contract of Interest: $BA 8/19/22 125p
Trade price as of publish date: $10.30/contract
5/11/22 CLXClorox Company (The) ( NYSE:CLX )
Sector: Consumer Non-Durables (Household/Personal Care)
Market Capitalization: $19.376B
Current Price: $156.23
Breakout price: $158.60
Buy Zone (Top/Bottom Range): $153.50-$145.30
Price Target: $162.40-$165.10 (1st), $173.20-$176.00 (2nd)
Estimated Duration to Target: 44-47d (1st), 97-101d (2nd)
Contract of Interest: $CLX 6/17/22 160c, $CLX 7/15/22 165c
Trade price as of publish date: $4.60/contract, $4.30/contract
5/11/22 JDJD.com, Inc. ( NASDAQ:JD )
Sector: Retail Trade (Internet Retail)
Market Capitalization: $88.170B
Current Price: $51.65
Breakdown price: $50.30
Sell Zone (Top/Bottom Range): $64.35-$57.45
Price Target: $44.00-$42.80
Estimated Duration to Target: 67-70d
Contract of Interest: $JD 9/16/22 50p
Trade price as of publish date: $7.22/contract
5/11/22 FBMeta Platforms, Inc. ( NASDAQ:FB )
Sector: Technology Services (Internet Software/Services)
Market Capitalization: $534.943B
Current Price: $197.65
Breakdown price: $194.40
Sell Zone (Top/Bottom Range): $192.65-$205.65
Price Target: $187.40-$182.00 (1st), $149.20-$147.00 (2nd)
Estimated Duration to Target: 16-17d (1st), 80-85d (2nd)
Contract of Interest: $FB 5/27/22 200p, $FB 7/15/22 200p
Trade price as of publish date: $10.85/contract, $17.40/contract
IWM bearish
bearish at least until indiscriminate selling is over
most likely going to see a bounce before taking out a major fib level
IWM Update: 6 MayThe Russell is tossed around by dip-buyers and sellers of strength. In this video I take a look at an important bullish divergence and a trade idea that can be profitable regardless of market direction if it is managed well.
IWM - Russel potential turn soon.The 0 - 5 count could be over in a couple days.
When price reaches the L-MLH, then we know that it's stretched extremely.
As a Pitchforker you know that these are the greatest opportunities to trade.
So let's observe it and maybe we find a good Risk-Reward entry.
5/4/22 DALDelta Air Lines, Inc. ( NYSE:DAL )
Sector: Transportation (Airlines)
Market Capitalization: $28.111B
Current Price: $43.85
Breakout price: $44.75
Buy Zone (Top/Bottom Range): $43.50-$41.20
Price Target: $47.00-$48.70(1st), $51.80-$52.70 (2nd)
Estimated Duration to Target: 37-39d (1st), 86-89d (2nd)
Contract of Interest: $DAL 6/17/22 45c, $DAL 9/16/22 45c
Trade price as of publish date: $1.93/contract, $4.09/contract
5/4/22 HDHome Depot, Inc. (The) ( NASDAQ:MSFT )
Sector: Retail Trade (Home Improvement Chains)
Market Capitalization: $325.831B
Current Price: $315.31
Breakout price: $319.40
Buy Zone (Top/Bottom Range): $313.75-$299.15
Price Target: $337.20-$340.60 (1st), $367.50-$372.80 (2nd)
Estimated Duration to Target: 42-44d (1st), 99-106d (2nd)
Contract of Interest: $HD 6/17/22 330c, $HD 7/15/22 340c
Trade price as of publish date: $7.06/contract, $6.60/contract
5/4/22 MSFTMicrosoft Corp. ( NASDAQ:MSFT )
Sector: Technology Services (Packaged Software)
Market Capitalization: $2.174T
Current Price: $289.98
Breakout price: $290.85
Buy Zone (Top/Bottom Range): $288.70-$277.00
Price Target: $303.20-$307.00 (3rd), $320.70-$323.50 (4th)
Estimated Duration to Target: 25-27d (3rd), 55-57d (4th)
Contract of Interest: $MSFT 6/17/22 290c, $MSFT 7/15/22 295c
Trade price as of publish date: $11.65/contract, $11.60/contract
5/4/22 AMD Advanced Micro Devices ( NASDAQ:AMD )
Sector: Electronic Technology (Semiconductors)
Market Capitalization: 161.076B
Current Price: $99.42
Breakout price: $100.00
Buy Zone (Top/Bottom Range): $97.85-$84.75
Price Target: $113.80-$117.60 (1st), $138.30-$141.40 (2nd)
Estimated Duration to Target: 20-21d (1st), 38-40d (2nd)
Contract of Interest: $AMD 5/20/22 100c, $AMD 6/17/22 110c
Trade price as of publish date: $4.41/contract, $3.45/contract
ES UpdateES and RTY MFI hit overbought premarket
SHorting garbage yesterday morning was the right call, flipped my RIVN puts for a decent profit. Gonna stay cash until the Fed meeting, garbage stocks are already down 3 - 5%, not worth chasing it right now.
Should've shorted PTON again, lol. What a PoS, SFIXing it's way to single digits. Didn;t think it'd move that much this week.
The $AAPL of my blood red eye (part 2) Objective short on the moby dick of stocks. I also talk about appl divided by qqq and iwm - very interesting area regarding appl's strength vs the other indexes - enjoy
IWM massive BreakIWM very weak in the larger time frames.
It has just broken below a very important support level opening some further targets.
If market continues to show weakness we could see IWM rolling over towards $172. Previous Support can be considered Resistance now and Stop loss.
Stocks To WatchThere are no certainties in the stock market. These names have shown good relative strength . This is an ETF based weekly charts that is designed to make money. This system is perfect for the person who works full time and still wants to follow trend and outperform the market.
Rolling: IWM May 20th 176/217 to June 17th 165/210... for a 1.26 credit.
Comments: Kind of neglected this position a bit, so rolling out, recentering risk instead of rolling down the call side to flatten net delta with 21 days to go. Total credits collected of 3.23.
Intraday puke reversal for the Russell 2000 at key levelsBuyers are stepping up right where they needed to at important multi-month lows. Let's see if the turnaround can hold for a weekly close > 188.
