MomentumOptions.com Pre-Market Update for 11/14/2017
Bulls Hold Near-Term Support
The market traded on both sides of the ledger before closing slightly higher with the Dow and S&P 500 snapping two-session slides. The Nasdaq finished higher for the second-straight session while the Russell 2000 extended it marginal win streak to 3-straight. Although all-time highs are on hold at the moment, the major indexes easily held near-term support on the opening weakness.
I work for myself and paying subscribers, and every trade I do is analyzed. No problem. But, the BEST thing about being a journalist is that I have to be accountable for all of my writings and the facts have to be truthful because of the stock or option advice I give. Anyone that writes for a living needs to remember this. Do your own research and tell a compelling story, but don’t bullshit, or your readers will see right through you.
Folks, I’m traveling this week and working on new deals. I will be posting as much as possible before returning next week to a normal schedule. More to come…this is my return for my trading this year. A $100,000 account would be worth $165,000 (more or less) if you have followed me this year. In other words, I’m outperforming the market nearly 3-1 with the S&P 500 up 23% YTD.
Momentum Options Play List
Closed Momentum Options Trades for 2017: 50-21 (70%). 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.
TiVo (TIVO, $16.75, down $0.10)
January 20 calls (TIVO180119C00020000, $0.30, flat)
Entry Price: $0.60 (10/31/2017)
Exit Target: $1.20
Stop Target: None
Action: Support is at $16.75-$16.50 following yesterday’s backtest to $16.65. Resistance is at $17-$17.25.
Limelight Networks (LLNW, $5.69, down $0.21)
LLNW December 4 calls (LLNW171215C00004000, $1.70, down $0.20)
Entry Price: $0.37 (9/21/2017)
Exit Target: $2.50 (Limit Order on half at $2.50)
Stop Target: $1.60, lower to $1.50 on half, followed by $1.40 (Stop Limits)
Action: Lower the Stop Limit from $1.60 to $1.50/ $1.40 on halves to give the trade a little wiggle room.
The close below lower support at $5.75-$5.70 gets $5.60-$5.50 in play. Lower resistance is at $5.75-$5.80.
TherapeuticsMD (TXMD, $5.90, up $0.23)
TXMD December 7.50 calls (TXMD171215C00007500, $0.20, flat)
Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Stop Target: None
Action: Rising resistance is at $6-$6.25 with yesterday’s peak reaching $5.93. Rising support is at $5.75-$5.50.