SALE CLOSES TONIGHT
THE ULTIMATE OPTIONS TRADING BLUEPRINT FOR SMALL ACCOUNTS
Results not typical. Trading is hard. Nothing is guaranteed.
PLATINUM PRICING EXPIRES AT MIDNIGHT
Good morning,
Tonight’s 8 PM ET training: why buying call debit spreads is a good strategy when trying to grow a $2,000 balance.
I plan to teach Saturday and Sunday, before football, at 10 AM ET.
The IWM is down $11.71 since last week or 5.7% from the $205.49 high. Mean reversion is normal and after December’s big rally, I think it’s a good way to start 2024.
If this area acts as support, which I think it will, an uptrend above $200 should be next. This makes $197 IWM calls attractive.
Economic data impact on interest rate speculation is likely to be the big driver in 2024 culminating in an election runup.
I’m developing a list of 20 January Effect stocks but given the weak start to 2024, there’s no rush here. But I do think markets turn up, possibly today, so I’ll publish this list around lunch.
Regarding my only open trade. There’s been a favorable change to the Liquidmetal website. Remember this page the company appears to be working on, which shows the Tesla Model X? A new video loop at the top now shows what appears to be a foldable smartphone hinge. One can only speculate if good news is coming, but it goes without saying the update is a good sign. I have a core long-term LQMT position that I add to and subtract from without notice. Based on recent catalysts, most notably the Liquidmetal Evie Ring and CEO buying about a million shares, I’m thinking a move above $.10 soon is likely.
OMGA, JFBR and MINM are this morning’s hot stocks we’ll be discussing in the community chat room. These aren’t the best for swing trading but do provide some good action long and short intraday as we wait for markets to stabilize.
Futures are slightly lower after but again, let’s keep close eye on the IWM Keltner Channel mean. If that holds, resumption of small-cap uptrend makes a lot of sense soon.
Jason Bond
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