This week felt a bit heavy going, and yet I have still been able to do my end-of-week routine in a matter of minutes, thanks to my Fast Filters and thanks to sticking to our Big Money Footprints logic.
Of course there are many ways to go about trying to find your edge in the markets, but ultimately you cannot be all things to all things. You have to specialize. And we prefer to specialize in logic and in proven research.
In today’s review I also demonstrate (very quickly!) how we can extend our stocks expertise to identifying the right options in literally one click. In other words, you can do an options Fast Filter search, focusing on the (conservative) types of options we prefer to trade, for stocks that are conforming to our Big Money Footprints approach. In a click!
Think of how much time that saves!
In today’s Market Review I have identified mainly Big Money Footprint setups, and a couple of implied volatility divergence possibilities. CCS and WWW on the bullish side look interesting, while ZEN looks like a potential classic on the bearish side, and COUP still looks like an interesting implied volatility divergence play.
The OVIsi longer-term indicator is still green, while the Medium-Term Timer is also still in protracted positive territory, meaning I’m staying with bullish setups as my overall focus, with one possible exception!.
Remember, the Medium Term Market Timer has specific rules which you can see by clicking “More Info” in the Market Timer area. Its overbought/oversold levels are asymmetric, meaning they have unequal values, unlike most indicators you see. Overbought is +0.80, and oversold is -0.20. When the indicator is constantly in non-overbought by positive territory we’re still bullish. The optimal area is oversold, at which point we focus on specific bullish OVI stocks. Something to look forward to when that happens again!
As per last week, the market is still choppy and you do want to snare your P1 (first profit targets) at a conservative level. Don’t be over-ambitious.
Again only Trade What You See … and make sure you’re seeing at least a couple of our Big Money Footprints!
Not much to add from last week …
I’ve had some momentum in populating the options Fast Filters. Each one has to do be saved manually by me, and there were 20+ in the calls and puts combined. I’ll be chomping my way through the other options strategies this week. The benefit of this function is that when you view a stock profile you’ll be able to see instantly whether it features in our options Fast Filters for all the strategies that we have TradeFinders for.
Again, we’re aiming to align our charts, Watchlists and TradeFinder applications in a very big win for everyone by December. And that should include being able to set your entry/stop/exit levels directly on the charts, AND input your personalized trade diary in an upgraded journal area. Another huge win!
This week’s market review has some further nuggets by way of stocks setting up nicely, and further insights in our approach.