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Prepared by StratagemTRADE.com and Scott
Writing under the nom de plume of J.L. LORD

Thursday | July 9, 2020

Hello Eizell.

YESTERDAY'S CLOSING PRICES

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YESTERDAY: July 8

The markets opened higher with the SPX hitting a high of 3171.80, which was a net gain of $26.48. This had the Dow up about 200 points.

The usual winners were what were in the spotlight yesterday. AAPL led the way closing at 381.37, which was a positive gain of $8.68 on the day. AMZN closed higher by 80.99 at 3,081,11. TESLA (TSLA) was the surprise in actually closing down one day after having a meteoric rise higher of late. Shares of TSLA closed down -23.98 at 1365.88.

After the morning spike higher, the market sold off into the red with a low of the day at 3136.53. This was a net change of just under -9 points. It sat near the unchanged line much of the day before an end of day run higher took it back to the day's highs.

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TODAY: July 9

TODAY – Hard yo say.

LONG TERM – NEW ALL TIME HIGHS (possibly), and then a NASTY trade war sell-off – probably after the election.

This is the 3rd day in a row where I have stated “Hard to say” when describing my opinion of what to expect today. The market has been choppy and unpredictable – higher one minute, and lower the next. I will say that we will likely test 3200 by tomorrow's' close once we finally make it through the 3185 ceiling we keep hitting our head on.

I am still standing by my prediction (made December 31, 2019) that we will be positive for the year and making new all-time highs by the end of the year. I maintained this stance even when the SPX was down -35% for the year.

S&P 500 Price Limits

From 8:30 a.m. to 2:25 p.m. CST, there are successive price limits corresponding to 7%, 13%, and 20% declines below the previous trading day’s reference price.

From 2:25 p.m. until the 3:00 p.m. CST close of the cash equity market, only the 20% price limit will be applicable.

2020 ONE-YEAR PREDICTION:
Average year with lots of intermittent volatility
(-1.88% so far)

POT Logo


Last night, we had a class on PICKING MY SPOTS. This was a step-by-step illustration of how I place limit orders at what I want executed at a certain price when the market reaches a predetermined level. How handy is it to know where a long put spread will be trading at when the market falls the exact point of major support?


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DISCUSSION BOARD

Up and Running for POT students (so far).

Really quickly...

To help in your quest for the best possible options trading outcomes, we would like to know what level of options trading knowledge and skills you currently have. Please click the button below to indicate what level of trader you are? Please skip if you already responded. Thank you for participating.

P.O.T. Schedule

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LAUGH OF THE DAY

Trading is a tough job on a stomach void of coffee and humor.
You provide the coffee and we will take care of the rest.

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Disclaimer

For education purposes ONLY. Please read the disclaimer below. We do not care if you agree or disagree with it—that is the rule. ​​​Stratagem Trading (Stratagem: “StratagemTrade.com,” “Stratagem”), and any of its possible affiliates, respective independent contractors, employees, officers, or agents are not acting as licensed financial advisers, registered broker-dealers,tax advisers, etc. (although some individuals may or may not hold a license). Furthermore, they do not provide financial advice, make recommendations, or conduct business by transacting trades. Stratagem Trading adamantly states that nothing in this communication constitutes a solicitation, promotion, endorsement, offer or recommendation to buy or sell any investment, mutual fund, debt instrument, commodity, derivative product or security as described herein.

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