10 Minute Read

Tackle Today: Build your Watch Lists

May 21, 2020

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Are you prepared for bullish or bearish?


The markets have pressed up against resistance this week as traders and investors are trying to get clarity on the depth of the economic damage from the last two months while also considering the expansive economic stimulus programs from the Federal Reserve and Federal Government and it’s ability to help the economy recover.

Jobless claims came in this morning at 2.43 Million new applications for Unemployment were filed in the last week.  That is down from 2.68 Million last week and has dropped each week over the last 7.  The trend for fewer claims is great, but still overly concerning that over 30 million Americans have filed for unemployment in the last 2 months alone.

We have seen anecdotal evidence in mortgage applications and improving manufacturing data that the economy is coming off the depths it hit a few months ago, but none of the reports point to bullish economic activity.

So, what is a trader to do?  Well, trade.  In a market where fundamentals are being disregarded, monetary policy is ever expanding and even according to the FOMC minutes yesterday will be ready to ‘use all tools’ available.  All a trader can do in the short term is trade the opportunities that come up in front of them.

Investors are waiting for clarity, and there might be some opportunities to consider hedging a portfolio if you want to reduce your delta exposure.  The VIX is now lower than it has been in months, and protective puts are an extremely popular tactic to use in the face of uncertainty.

When traders get together to talk these days, there’s little clarity on the long term outlook, but there’s lots of energy around short term opportunities.  Every trader should have a watch list, and probably multiple watch lists, that can be used to trade the opportunities as they come up in front of you.

In every market, there are winners and losers, find the best candidates for bullish opportunities and bearish opportunities and start preparing your approach.  Because, whatever happens with price i.e. up, down or sideways, you need to be ready with action on your part.

Chart of the Day


Both Home Depot and Lowes reported earnings this past week.  With people staying home more, those home projects seem to be keeping them busy.  Have you started a DiY project recently? 

Video of the day

Money Management With Coach Holmes

If you missed last night’s webinar with Coach Greg Holmes, where he taught Money Management principles, you can catch the replay here.

Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

Cashflow Club 8:30 PM EST

Held every Thursday before Friday’s option contract expirations, this show helps you perfect your favorite cashflow strategies.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.

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