The bulls were behind the 8-ball well before the start of today’s trading as futures were pointing towards a 1% drop at the open. We were pretty excited when we started to do our weekend homework because we were looking for a breakdown this week and we stayed up late to watch the overseas markets open.
Our chart work has been on point and we were able to lock-in some sweet profits this morning.
Don’t worry though.
We still see plenty of opportunities to ride the put option gravy train but we wanted our subscribers to take profits as some of our trades have hit up to 70% returns in a matter of days.
One of the best lines we heard over the weekend was Kenny Rogers who sums it up best when it comes to options trading…”you got to know when to hold ‘em, know when to fold ‘em”…
Kenny paid a visit to our Hometown and rocked the college kids so that was cool to see.
The Dow is down 145 points to 12,883 while the S&P 500 is off by 15 points to 1,363. The Nasdaq is pounded for a 40 point loss and is at 2,960.
Netflix (NFLX, $102.74, down $3.37) will report earnings after the bell today!
Subscribers, check the Members Area for the updates and pay attention to our Stop Targets which are moving up as we want to ensure we lock-in even more juicy profits!