LET THERE BE GREEN! First day after a 4 day losing streak for the major US indices. We had four alerts trigger late in the Discord, and today I will go over them.
Inflation is still a major concern for many investors, and the September CPI is at 5.4%. A lot of stocks and ETFs on my watchlist are at supports and looking ripe for the buying. I believe we are mostly out of the dip and November will be bright.
A lot of the alerts were set in the Zoom Meet Up on Monday night. If you are interested, you should join us to check these out - and provide your own input!
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V -13.7% - Considering DCA
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First of all V was pretty indecisive today. I considered DCA'ing into more January calls. However for now, it seems to be holding my support. I'll keep my eye on it. The number one thing most of the people I talk to need to improve on is cutting positions in a timely manner and not letting them drag you down to a -80% or something debilitating. Keep this in mind when dealing with V right now.
Once again I find myself playing SBUX off of the glass bottom. The good news is that it is holding my bottom and looks like a pretty strong support. The bad news is that its not heading up and decay is a killer. It could be an interesting point for people to get in it; relatively safe.
Exact same story with DIS. Eventually I believe these will pop.
RIG is a newer alert that we set Monday. I've been wanting to take a position in it, however it would probably be commons as options are limited to lack of volume. Nevertheless, I like the fundamentals and the underlying is riding around all of my favorite supports - 180, 50, 20ma and the YTD VWAP topped off by some nice volume shelves.
DAL got hit in the head today, but luckily for us, it is right on the 50MA and a volume shelf that is twice as big as any others around this price point. I usually don't like airline stocks (seemingly endless bailouts), however considering the seasonality and support right now, it looks like a quick in and out to me.
CRM is still overbought and pretty far removed even from the 20MA. Seasonality is complete garbage going into the winter months, therefore I believe it is a matter of time before this consolidates toward, at least, the 50MA. Timing is key here, obviously, these are options. I've set the alert to trigger around $286, however you can also DCA into this. Maybe an ol' fashioned short would be more appropriate.
Keep you heads up, and I hope you took my advice at the end of the summer to take profits on some of your bigger tech plays. If you did, you have plenty of money to DCA right now. So, what are you worried about?
Four alerts fired today at close, so no new alerts for me. I will watch the possibilities evolve or not at open tomorrow. Good luck everyone!
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