Morning Thoughts

It was the day before the FED and all was well.  Not a rate hike was found stirring before the opening bell.  Assets traded with nary a care, in hopes that Saint Yellen would stomp out the last bear.  And I heard her exclaim as she flew into the sky, higher asset prices for all and for the S&P500 a new high.

No rate hike for you.

The recent trading action continues to  chop around in anticipation of tomorrows FED announcement.

Yesterday the S&P500 came back to close where it ended its previous session.  Basically a flat session.


Heading into tomorrow the market is trading in the middle of the recent highs and lows.  Once again I think the VIX will give us a goo indication of where the market heads.  And it continues to point to upside.


A few trades Iam looking at this week:

I continue to like $LULU for upside via the $67 calls.

$HD is  stock I think will trade higher as long as support holds.  I am looking to re-enter a Call position today.

$GPRO is setting up nicely on a break of resistance.  I will wait for it, but this rally could continue for $GPRO sending the stock possibly back over the $20 figure.

See you in the chat room.

Charts, Scans, Option Data and more here

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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