The markets closed slightly higher yesterday after trading in a very narrow range for most of the session. The trade for downside in this market remains a one day affair, with prices always levitating off the lows and continuing to rally the following session.
Premium Selling Trade: #1 For August 19th (Monthly) Expiration
The following is the third premium selling trade for August 5th expiration: The goal is to try to get around 3 premium selling ideas per week targeting 10-20% in gains. Given the nature of the trade all of the trades will have stops set in place given the exponential loss potential. Premium selling is a great way to bring in cash flow as well as put on a trade playing for a range in a stock.
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August 3rd, 2016 Watch List
Morning Perspective
Yesterday was the first real pull back for the market in quite a long time. It felt so long, it brought me back to the movie Groundhogs day where the same Day keeps playing over and over and over again.
Yesterday looked that way. We had a morning dip, but this time it wasn't bought right away.
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