The Outlook
Friday’s rally was massive and should have enough momentum to carry into Monday. The morning could open lower after the strength of Friday’s move but any dip is an opportunity for setting up trades.
As the week progresses we may see weakness as investors take into account the chance of a government shutdown. Most investors though, don’t think will happen.
Monday Before The Open
Monday we get earnings from a number of companies. I am watching Tyson Foods Stock (TSN) and Monday.com Stock (MNDY). Both stocks are in downtrends but we could see a bounce if they beat on earnings. Tyson Foods Stock (TSN) interests me more than Monday.com Stock (MNDY) but either could make for an interesting trade. I will be watching for any opportunity to setup a trade 8 to 10 percent below where the stock is trading, if either opens higher this morning.
SPY ETF Market Direction Portfolio Trade
I will be placing a credit put spread today in the SPY ETF out to Nov 24 expiry.
A new trade was setup on Mon Nov 6 2023 in the SPY ETF Market Direction Portfolio
SPY Trade Ahead Of The Fed
On Tue Oct 31 2023 I put together this trade ahead of the Fed’s latest decision on interest rates.
On Wed Oct 11 2023 I put together this trade ahead of the FOMC minutes being released. I sold some of the SPY puts today.
Non-Farm Payroll Numbers
On Thu Oct 5 2023 I put together this trade to profit from the September jobs numbers. This trade expires Nov 17.
On Thursday Nov 2 a new trade was put together to profit from the October non-farm payroll numbers being released. This trade expires Dec 15..
Retiring Easy Portfolio Update
A new trade was started Fri Nov 10 2023, in this portfolio which is using Microsoft Stock (MSFT) presently.
A new trade was started Fri Nov 3 2023 in this portfolio which is using Microsoft Stock (MSFT).
A new trade was started Wed Nov 1 2023 in this portfolio which is using Microsoft Stock.
A new trade was started Wed Oct 25 2023 in this portfolio which is using Microsoft Stock (MSFT). After the Fed decision on interest rates is released I will be setting up another trade either late Wednesday or more likely early on Thursday.
40% Goal Portfolio
There was no trade in IWM on Friday. If there is a trade today I will post it.
A new trade was setup Thu Nov 2 2023 in this portfolio using IWM ETF.
Two trades were setup Tue Oct 17 2023 in this portfolio using IWM ETF. First trade was for Nov 3 expiry. The second trade was for Nov 17 expiry.
Two trades were setup on Tue Sep 19 2023 in this portfolio. The first trade was for Oct 6 expiry. The second trade was for Nov 17 expiry.
Million Dollar Challenge Portfolio Trade
Apple Stock (AAPL) continues to look strong with it closing at $186.40 on Friday. Today if there is a dip back I plan to setup another trade in the Million Dollar Challenge Portfolio. I am considering selling the $180 put strike for Dec 1 expiry.
A new trade was started Mon Nov 6 2023 in this portfolio which is currently using Apple Stock.
A new trade was started Fri Nov 3 2023 in this portfolio which is currently using Apple Stock.
Revisiting History Historically November is the best month for stocks. On average this month has returned 1.6% over the past 25 years.
Ultra ETF Trades
TQQQ ProShares UltraPro 3X Bull NASDAQ 100 (TQQQ)
There was no trade on Friday. I will be watching for an opportunity today should the NASDAQ dip deeply.
SQQQ ProShares UltraPro 3X Short NASDAQ 100 (SQQQ)
There was no trade on Friday. I won’t be buying it today as I think there is more upside to come for the NASDAQ before we see a pullback.
SDOW ETF – 3X Short Dow Jones Index
No trade is planned for today.
UDOW ETF – 3X Bull Dow Jones Index
No trade is planned for today.
MACD – Up Signal – Thu Nov 2 2023
On Thu Nov 2 2023 we received a new up signal. On Fri Nov 10 2023 the up signal was higher.
VIX Index Strategy
The VIX closed at 14.17 on Friday.
Once the VIX moves to $13.50 or $13.25 I will buy more VIX calls for Dec 15 expiry at the $20 call strike.
Close Trades Early
Just another reminder it is important to make sure to use spikes and rallies to close positions to lock in profits and raise cash levels for further trades. The past several weeks has shown the value of closing trades early and getting capital into new trades as the market falls lower. Closing early is pivotal to not getting caught holding deep in-the-money short puts as a stock falls, simply because the investor forgot to place an offer to close and failed to leave it open. In rallies, make sure to close trades that are at risk or which you are nervous about. You can also consider using this excel spreadsheet to assist in alerting when to close trades early.
Don’t Abuse Margin
Just another reminder to watch overuse of margin, especially in a downturn.
Super Charge Buy-Write Strategy
There are no trades being done today using the Super Charge Buy-Write Strategy.
For investors unaware of this strategy this article outlines the Super Charge Buy-Write Strategy and is a good starting place to understand this strategy.
Trade Ahead Of Earnings Strategy
These are the trades planned for today using the Trade Ahead Of Earnings Strategy. There are a lot of stocks for today. I probably will not be able to enter all the trades outlined.
Home Depot Stock (HD) reports earnings on Tue Nov 14 2023 before the open. I am putting together $15.00 debit spreads using the reverse iron condor method for Dec 15 expiry.
Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Questions? Use Ask Teddi
