Oct 26, 2018 — FRIDAY PM
While the NQ and ES each closed above their respective midpoints, the lows don’t appear to be strong lows, which means we could see more selling pressure next week. I’m still holding short exposure in $AA, $COST, and $QQQ, but took partial profits in $COST. Keep an eye on earnings for $AAPL ahead…if this one can’t hold 210, much more selling pressure could be ahead. Here are the levels and candidates we focused on during the afternoon session of the PivotBoss Trading Room.
Topics Include:
/NQ, /ES Still searching for a bottom
$AA Holding 20% position NOV 41 puts
$QQQ Sold 10% of position at 10.39, Holding last 10% position NOV 175 puts
$TNDM Still holding NOV 35 calls, looking to exit this one after earnings
$CGC Still holding JAN 40 calls, not adding at this time
$COST Took profits on 60% at 7.90, holding 40% NOV 225 puts
Reviewing Buy Candidates: $RIG, $IYT, $LUV, $VLO
NEWS: Swing Trade Pro 2.0 HAS OFFICIALLY LAUNCHED! Please visit http://pivotboss.com/swingtradepro2/ for details on a great introductory offer!
WEBINAR RECORDING: The Profiting with Swing Trade Pro 2.0 webinar recording has been posted! Please visit http://pivotboss.com/2018/10/11/webinar-recording-profiting-with-swing-trade-pro-2-0/ to watch the recording.
OCT OUTLOOK RECORDING: Please visit the following link to watch the recording of our October Monthly Market Outlook webinar: http://pivotboss.com/2018/10/01/pivotboss-monthly-outlook-oct-01-2018-rejection-developing-in-the-nasdaq/
Cheers!
— Frank Ochoa
Author, Secrets of a Pivot Boss