Hard to believe we are mid-October already.
How is your trading year going?
We only have the last quarter of the year left to trade 2021.
I know a very easy way to improve your profitability for the remainder of this year.
Simply join Andrew Giovinazzi and Frank Gregory for their Capitol Gains Live Event tonight at 8:00 PM ET.
They have an October Surprise for you which includes one particular sector and exactly how to play it for maximum profits.
Take your trading to the next level with Andrew and Frank by joining them tonight.
Along with their macro insights on all the things affecting the market right now such as inflation, labor shortages, and of course our supply chain debacle, they will hand you MULTIPLE actionable trades to take advantage of their research and knowledge.
All you need to do is simply show up tonight at 8 p.m. Be there.
In the meantime, I have a couple of trade ideas for today …
Trade Wheel Keeps on Spinning
Since my last two trade ideas (in LOW and AMD) didn’t pan out, I have two new ones for you today.
Of course, the good news on the previous pair is that I didn’t lose any money. They were ideas if the stocks had moved down, which they didn’t.
No trade … no loss. We live to trade another day!
Now, check out this doji in Haliburton (TIcker: HAL):
HAL has gone straight up 39% since Sept. 20. Yesterday’s doji could be signaling a reversal in this uptrend.
If HAL opens and trades lower today, I will be a buyer of the Nov. 19 26-strike puts for around $1.15.
These are a good value with 32 days until expiration. I will take my losses if they trade down to $.80. I will begin profit taking $2 and above.
My other trade idea is in Alcoa (Ticker: AA):
AA has gone up from $31 on July 19 (a doji candle) to a high on Monday of $57.57. Yesterday’s large red candle is a bearish engulfing candle as it engulfs the entire green candle formed on Monday.
I think it is possible for AA to pull back to $46.
Looking at the options, I like the regular November expiration cycle:
If AA opens and trades lower today, I will be a buyer of the Nov. 19 53-strike puts and a seller of the Nov. 19 48-strike puts. I will pay $1.75-$1.80 for this five-point spread with 32 days to go.
I will begin to take profits at $3 and take my losses if the spread trades down to $1.25.
Be sure to show up tonight for Frank and Andrew — that’s all you need to do to ramp up your trading account into the end of the year. Easy!
Thanks for Reading … See You Tonight!