I am seeing an inverse head and shoulders pattern in Delta Airlines (Ticker: DAL):
I think DAL can continue to trade higher from here. I think it can trade back to $48.
With the crazy moves we’ve been having, especially yesterday, I will watch this closely before buying my calls.
I am looking to buy the Oct. 15 44-strike calls, paying up to $1.20.
I will be watching the market in general, too. If we have a big down day again today, I will wait to buy these.
- In iShares FTSE China (Ticker: FXI), I still have my calls and FXI actually held up pretty well during yesterday’s selloff.
- I recommended calls in Draftkings (Ticker: DKNG) and puts in MGM Resorts (Ticker: MGM), neither stock made the move I was predicting so no trades were made.
Get your windows cleaned!
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Thanks for Reading … See You Next Tuesday!