MomentumOptions.com Mid-Market Update for 9/12/2017

Bulls Tap Record Highs

3:40pm (EST)

The Financial Select Sector Spiders (XLF) tested the 200-day moving average last Thursday and a level that had been holding since June 2016. Friday’s nearly 1% rebound was followed up with Monday’s 1.7% pop and today’s gains of over 1%.

Continued closes above resistance at $24.75-$25 would be a slightly bullish development. Current support is $24.50-$24.25.

Heading into the close, the Dow is up 45 points to 22,102 while the S&P 500 is gaining 5 points to 2,493. The Nasdaq is higher by 10 points to 6,443 and the Russell 2000 is advancing 7 points to 1,422.

 

Momentum Options Play List

Closed Momentum Options Trades for 2017: 46-19 (71%). All trades are dated and time stamped for verification. New subscribers can look at the past history to see how the trades have played out or to research our Track Records.

Do not risk more than 5% of your trading account on any one trade but do try to take all of the trades. Please remember, all “Exit Targets” and “Stop Targets” are targets. You should not have any “Hard Stops” entered to close any trades or “Exit Orders” in your brokerage account unless I list one. I will send out a “Profit Alert” or “New Trade” if I want you to close a position or if a new trade comes out. Otherwise, follow instructions at all times in the 8am and 12pm–2pm (EST) updates. Also, I will usually give you a heads-up if I think I’m going to send a Trade Alert outside of these time frames.

 

Cypress Semiconductor (CY, $14.12, up $0.32)

CY October 14 calls (CY171020C00014000, $0.70, up $0.20)

Entry Price: $0.60 (9/1/2017)
Exit Target: $1.20
Return: 17%
Stop Target: None

Action: Fresh resistance is at $14.25-$14.50. Rising support is at $14-$13.75.

 

TherapeuticsMD (TXMD, $6.40, down $0.13)

TXMD December 7.50 calls (TXMD171215C00007500, $0.90, flat)

Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Return: -6%
Stop Target: None

Action: Support is at $6.50-$6.25. Resistance is at $6.75-$7.

 

Intel (INTC, $36.07, up $0.30)

INTC October 37 calls (INTC171020C00037000, $0.35, up $0.05)

Entry Price: $0.53 (8/15/2017)
Exit Target: $1.10
Return: -32%
Stop Target: 10 cents (Stop Limit)

Action: Resistance is at $36-$36.25. Support is at $35.50-$35.25.

 

TiVo (TIVO, $18.42, down $0.08)

TIVO October 20 calls (TIVO171020C00020000, $0.45, flat)

Entry Price: $0.70 (8/8/2017)
Exit Target: $1.40
Return: -37%
Stop Target: None

Action: Resistance is at $18.75-$19. Support is at $18.25-$18.