Hey folks, as the Super Bowl gets underway here are a few possible option trades on the weekly options chain I am looking at for possible action tomorrow. Please keep in mind I scanned all the securities that have weekly options and then looked for those securities that are looking at a possible pull back…I did this since I feel the overall markets are either slowly grinding upward, or are due for a pull back…if this happens then most of these securities will also pull back as well…also, one other point; -I used the 60 minute chart to do my analysis since I would not hold any of these trades longer than 1-5 days tops…I have also shown in each security where the 1st resistance level is located (R1) to help in my analysis. I am including this posting to every blog subscriber but as we get our User Group ramped back up this year (meaning as I feel better) these types of updates will be for our Members only….I will include for our Members how best to trade these types of opportunities…you will quickly see they offer great chances of success!
So, without further ado, here is what I am looking at for tomorrow morning’s opening trades:
1. AAPL – in a W5 up pattern with Bearish Divergence with R1 at 348
2. BAC – in a W5 up pattern with Bearish Divergence with R1 at 14.80
3. GOOG – W5 up pattern/Bearish Divergence/R1 at 616
4. IBM – W5 up pattern/Bearish Divergence/R1 at 168
5. IWM – W5 up pattern/Bearish Divergence/R1 at 80
6. NFLX – W5 up pattern/Bearish Divergence/R1 at 221
7. SPY – W5 up pattern/Bearish Divergence/R1 at 131
Folks, I am looking at either a more conservative position (Bear Call Spread) or a more aggressive position (Bear Put Spread or Puts) depending upon what each of their respective option chains look like upon the mornings opening….
For the sports fans out there enjoy the game!!
Trade Smart — Not Often