3309 Drysdale Ct
Edwardsville, IL 62025
Not that I'm in love with it but it's possible that the Breakout
Sub system may trigger today. This is the one non mean reversion to
the SPY systems. The condition was lost earlier on the pullback but
is back now, so if the market pulls back again it will ago away.
I'll have to wait to near close to confirm.
The breakout trade buys overbought conditions, no way around
that and the market will always look overbought when this trade
occurs. Here's some examples in the past, and I've included a
couple of losers - it will stop out should the market not go
If you were concerned about the market could you do some sort of
hedge or spread here where you buy a cheap Put for protection?
probably though I'm not versed enough on that, some of you
option experts out there could suggest something.
Otherwise the trade will be for SPY ETF and 1 SPY call option 2
months out (I don't see one 2 months out, there is Aug 20th and
Sept 17th) you could pick one of those. For 1st entry I target a
0.6 - 0.7 delta
trade confirmed. Option is the SPY Sept 17th call with a strike
Scary to buy at a bottom for a reversion trade, scarier to buy
at a top for a breakout trade. But they have both worked before, so
I'm counting on it :)
LOL yeah seems like almost every trade is scary
sorry guys having TS issues here waiting for the chat to refresh
this is good information even if not played. May be early for
shorting vs. hedge
instead of sending an email a min before the close and risk
having it take 5 or 10 min to fully send, I'll confirm the trade
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