Good afternoon from Paris. I flew in from Toronto this morning. Jet lag sucks.
First things first - I have not been trading much in the past week outside of GG. I took on a consulting project with a Canadian company in water industry and have been travelling internationally for the past 10 days. I’m actually only half way home. If you are not going to be fully present in the market, it is best to sit on cash.
Last week during Session 2 of the Swing Trading Course (only premium members have access), we discussed a potential short opportunity on SPY if it went up and filled the gap, approached the 10 sMA, or faded against the previous triangle support on Monday/Tuesday.
This prognosis was spot on. SPY printed a bullish engulfing candle on Monday and failed on Tuesday, providing a clear signal for the above planned short. Unfortunately, I was caught up in my consulting contract duties and didn’t enter. It is what it is. I’m not going to cry over spilled milk.
For demonstration purposes, here is what the chart looked like EOD on Tuesday:
As we all know, SPY saw a big decline last week into Friday. The above trade doubled in value. Yes - I know there is a bit of coulda, woulda, shoulda in it. But those who followed the plan, were happy campers.
In September 11th’s post, now unlocked for all subscribers, two off-season Earnings Plays plays were presented - FDX and ACN. FDX was nullified when they reported earlier than planned.
ACN
I personally did not play for reasons stated above. But here was the entry EOD on Wednesday, September 21st.
This was yet another success for those that played - note that it may have been difficult to get in due to liquidity…
Session 3 of the Swing Trading / ER Strategies Course will be delayed until October 2nd at 8:30 PM Eastern. All premium readers will have live and recorded access.
Fall ER Season is fast approaching in a few weeks - I’m looking forward to seeing how the season performs!
Here are the last two ER plays (stragglers) of Summer season for entry this coming week:
ER Iron Condors
NKE - Enter Earnings Iron Condor EOD on September 29th and exit EOD on September 30th (or let expire). Past performance 4 wins out of 4.
MU - Enter Earnings Iron Condor EOD on September 29th and exit EOD on September 30th (or let expire). Past performance 3 wins out of 4.
The link to Session 3 of the Swing Trading / ER Strategies Course will be sent by Friday of next week.