Tackle Today: What’s This? An Up Day!?
September 2, 2022
«’Bout time.»
Traders,
Coach Tyler here. I just looked at the past few messages, and we’ve been feeding you a daily drip of pessimism. If you’re tired of the bearish lens, take heart. I have something bullish to say today.
On Thursday, the S&P 500 went up, on high volume to boot. It marked a nice change of pace for a market that was making it way too easy on bears. Don’t let the 0.31% gain on the day fool you. When you measure the rally from the lows, we were up 1.6%, which is not insignificant. Now it’s all about the followthrough. We deserve a few up days after the nastiness we just waded through, so let’s hope the market gods are in a good mood.
Remember that a rally here would begin as nothing more than an oversold bounce in the context of a daily downtrend. As such, it should be viewed with skepticism. But, whatever. We got an up day. Bulls should take the rare “W” and move on.
Video Of The Day: Jedi Options – Selling puts on Blue Chip Companies
In today’s Jedi Options, Coach Tyler explains how to sell puts on Blue Chip Companies.
Chart of the Day: S&P 500 ($SPY)
The hammer candle at $390 allowed SPY to hold a key potential support zone. Give me more.
Options Theory Blog
Portfolio Risk: What is Too Much?
This is a companion article to last week’s Tales of a Technician blog which discussed position sizing core vs. non-core positions in your portfolio. The video below explores how I think about portfolio risk and making sure you don’t have too much exposure.
Today’s line up
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.
Cash Flow Club Replay
If you missed last night’s webinar with Coach Greg Holmes where he talked about Credit Spreads or would like to watch it again, check it out here.
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.
Financial freedom is a journey
Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.
Legal Disclaimer
Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.
All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.
