This class spent some time discussing the big drop in oil stocks during the morning, which follows the falling oil commodity prices over the last couple weeks. There's a good chance that Energy will fall into the middle of the Sector Selector rankings as early as next week. We then sold an Energy stock in favor of a Consumer Discretionary stock with a stronger chart.
This basic options class discussed our current positions, after several of our previous positions were washed out of our account upon the November expiration cycle last weekend. We then reviewed two new trade set-ups, one Health Care and one Consumer Staple. Both of them were of the category of having shot upwards out of the blue zone of the Stairstep chart (the opposite of our typical trades earlier in the year).
© 2022 · Market Scholars.