Member’s Video for Monday, October 23rd, 2017
Stocks rallying on the outlook of tax reform, but we can’t ignore the wall of resistance immediately above us. Do bonds have the juice to push through support levels proving to us this economy has sufficient strength to support higher interest rates and higher equities?
If you have not purchased at the Member price of $618.00 and interested, the offer will be up for another few days and then it’ll be resigned to the public page at a price double that….
Elliott Wave Mastery Member Link
SMS Alerts Issued Friday:
1) AXP – a loser. Let it expire
2) PYPL – a winner. Buy back the 66 puts, and leave the 64 puts.
3) Close Existing SPX Income Put Fly. Filled at $4.00.
4) New Trade Alert – Tier 3 – SPX Income Put Fly. BUY +1 BUTTERFLY SPX 100 (Quarterlys) 29 DEC 17 2600/2555/2475 PUT @3.80 LMT In the 29 DEC SPX options, sell 2 of the 2555 puts, buy 1 of the 2600 puts and 1 of the 2475 puts. Total debit should be $3.90 or less.
Todd’s Trading Lifestyle Vlog #33 – For Trading, FORGET What You Learned In College
Open A ThinkorSwim Account- Thinkorswim
All trades are executed through ThinkorSwim. Register using this link and you will receive discounted commissions exclusively through TradingAnalysis.com – CLICK HERE
Create your survey with SurveyMonkey
Todd , been very happy with the service. At risk of repeating myself, is there a way you could offer IRA friendly alternatives for some trades e.g SPX v. SPY. Would be greatly appreciated if it makes sense.
Many thanks,
Arnold Rottman
No problem. Sorry to be quiet. I’ve been pretty focused on the Elliott Wave Mastery launch. Butterflies are IRA friendly as you are not short options. You are long 2 and short 2 so no uncovered naked short options, which in IRA land is a no-no.
Best,
Todd.
The one thing you have to be cognizant of is when you are closing the position, you must close the shorts before the longs in IRA account to prevent the transaction from resulting in a remainder short position.
Todd, I ended up hanging on to the BA trade. The turn around on Friday was great. Any suggestions going into earnings? Thanks, Steve
Hi Steve,
Sure thing! I will stay with the trade through earnings on the 25th. Great work.
How often do you update the chart room? Seems like it has not been updated recently, can you let us know when it will be updated?
Hi AB
Every couple of weeks. The smallest time frame I track is a 195 min chart (1/2 day chart) so the count needs to be updated every few weeks. The chart room is meant to be the bigger picture outlook that gives us context for the daily videos that focus on the short-term price action and positions.
Thanks,
Todd