MomentumOptions.com Mid-Market Update for 10/5/2017

Airlines Stocks Trying To Regain Momentum

3:00pm (EST)

The US Global Jets ETF (JETS) made a strong move on Tuesday after surging 4.1% and nearly tripping $31. Today’s peak of $31.25 fell shy of fresh resistance at $31.50-$32. Current support is at $30.50-$30. The 50-day moving average is trying to level out to avoid forming a death-cross with the 200-day moving average. A move back below these levels, or $29.50-$29, would signal a false breakout. RSI surged above 70 on Tuesday’s move and is currently above multi-month resistance levels. The November/ early December levels traded near and above 80.

Heading into the final hour of trading, the Dow is up 98 points to 22,759 while the S&P 500 is adding 13 points to 2,550. The Nasdaq is surging 43 points to 6,578 and the Russell 2000 is up 3 points to 1,511.

I have updated our current trades so let’s go check the action.

 

Momentum Options Play List

Closed Momentum Options Trades for 2017: 49-19 (72%). 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, $15.48, up $0.07)

CY November 16 calls (CY171117C00016000, $0.50, flat)

Entry Price: $0.45 (10/2/2017)
Exit Target: $0.90
Return: 11%
Stop Target: None

Action: Resistance is at $15.50-$15.75. Support is at $15.25-$15.

 

Limelight Networks (LLNW, $4.32, down $0.04)

LLNW ‪December 4‬ calls (LLNW171215C00004000, $0.60, flat)

Entry Price: $0.37 (9/21/2017)
Exit Target: $0.80-$1.20
Return: 57%
Stop Target: None

Action: Resistance is at $4.50. Support is at $4.25-$4.20.

 

TherapeuticsMD (TXMD, $5.09, down $0.04)

TXMD December 7.50 calls (TXMD171215C00007500, $0.25, flat)

Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Return: -73%
Stop Target: None

Action: Resistance is at $5.25. Support is at $5-$4.75.

TiVo (TIVO, $19.70, up $0.10)

TIVO ‪October 20‬ calls (TIVO171020C00020000, $0.60, flat)

Entry Price: $0.70 (8/8/2017)
Exit Target: $1.40
Return: -14%
Stop Target: None

Action: Resistance is at $20-$20.25. Support is at $19.50-$19.25.