Well, that didn’t last long, did it!
Last week I referred to the market resetting itself, only for it to come roaring back with the S&P and Nasdaq both setting new highs!
And as we’ve always done, we have to simply Trade What We See … and right now that continues to mainly be bullish setups.
That said, I would still be super conservative with your P1s, and set them within easy reach. The market has ground upwards, but it’s not the tidiest, and meaty retracements are a feature here. If you’re trading options on liquid stocks you can bag very tidy profits even with small moves in the stock.
Luckily for us, we have a strategy for steep retracements, and you’ll see plenty of setups today where OVI pullback retracement consolidations have yielded excellent trades, and there are are several setting up as we speak.
These pullback retracement consolidations are ideal for simple options strategies because even a small breakout can be very lucrative, enabling you to snare that conservative first profit target and de-risk your position quickly.
In this week’s review I’m also giving you a sneak preview of some new technology we’re bringing out soon, which is just the tip of the iceberg of what’s coming.
Also, in my webinar last week, I gave some new insights into why the Big Money Footprints, and particularly the OVI work so well. If you haven’t watched it yet, you should have a recording link, and I urge you to watch it.
Somehow, understanding the simple mechanics behind a chart, seems to lead to far better appreciation of what the chart is saying in terms of buyers vs. sellers, with the knock-on effect of you achieving much better results. That’s been the overwhelming feedback.
Now … better results, better consistency … plus the power of options … that’s when you start performing like Chloe, Pat and others who have multiplied their accounts by many-fold in a short space of time.
And the beauty is, you can still keep it simple, and you’ll get to play the downside with low risk (not requiring margin) when a bearish phase kicks in.