Mid-Market Update for 11/15/2017

Utilities (XLE) Go Parabolic

3:25pm (EST)

The Utilities Select Spider (XLU) continued its run towards a fresh 52-week and all-time high of $57.23 on today’s open before pulling back shortly afterwards. The low has tapped $56.32 with rising support is at $56.50-$56 easily holding. A close below the latter would likely lead to continued weakness and a further backtest towards $55.50. This area represents the double-top breakout from earlier this month. Fresh resistance is at $57-$57.50. RSI cleared 75 but is weakening with continued closes above this level likely leading to early June resistance at 80. A move below 70 would likely signal a continued pullback.

Heading into the final hour of trading, the Dow is down 97 points to 23,312 while the S&P 500 is off 8 points to 2,570. The Nasdaq is lower by 15 points to 6,722 and the Russell 2000 is sliding 3 points to 1,468.


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, $16.80, down $0.35)

January 20 calls (TIVO180119C00020000, $0.50, flat)

Entry Price: $0.60 (10/31/2017)
Exit Target: $1.20
Return: -18%
Stop Target: None

Action: Support is at $17-$16.75. Resistance is at $17.25-$17.50.


Limelight Networks (LLNW, $5.80, down $0.19)

LLNW ‪December 4‬ calls (LLNW171215C00004000, $1.85, down $0.10)

Entry Price: $0.37 (9/21/2017)
Exit Target: $2.50 (Limit Order on half at $2.50)
Return: 407%
Stop Target: $1.70 (Stop Limit)

Action: Support is at $5.80-$5.75. Resistance at $6-$6.10.


TherapeuticsMD (TXMD, $5.96, up $0.09)

TXMD December 7.50 calls (TXMD171215C00007500, $0.20, flat)

Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Return: -78%
Stop Target: None

Action: Resistance is at $6-$6.25. Support is at $5.75-$5.50.