I’m back from the Maldives, so let’s get to it!
Check out the stock chart in Twitter (Ticker: TWTR):
Thursday’s candle formed a doji, which we know is the battle of the buyers and sellers without a winner and can indicate a change in trend.
Friday’s candle was an inverted hammer which we find at the bottom of a down trend and may be signaling a reversal of that trend.
The two candles together tell me TWTR is ready to make a bounce here.
Shopping for cheap options, I like buying the Aug. 20 65-strike calls paying $1.
I will take my loss if these trade down to $.70 and begin profit taking $2 and over.
I think TWTR will trade $68 or higher by Friday.
At Option Pit
Yesterday I had the pleasure of joining Mark Sebastian on the the weekly OP Markets Show.
We delivered more than 10 trading ideas in ten different stocks ranging from Apple (Ticker: AAPL) to Johnson & Johnson (Ticker: JNJ) to the VIX.
Mark’s Novavax (Ticker: NVAX) Aug. 20 250/300 call spread paying $8 went out $12.65 bid on the close. That’s up 58%!
Only Option Pit Trading Legion members and above have access to this twice weekly trading show.
Our team can teach you the strategies to capitalize on the historic opportunities in the markets today. You just need to take the first step.
It’s great to be back!
Thanks for Reading … See You Next Tuesday!