Trade Alert

CSCO is looking pretty strong this morning.  I would not be surprised to see a little more consolidation but I would also not be surprised to see it move higher.

I want to take a long term trade eventually but looking at this I get the impression of shorter swing trade.  If your interested consider the JAN18  35 strike calls.  If you do decided to trade it I would suggest keeping it small because it is very early in this pattern.

There will be no entry video.

Remember all trade ideas are for your evaluation and consideration.  Only trade if it fits your risk tolerance and trade rules.

The futures are pointing to a nasty open this morning but I don’t think many of you will be surprised by that.  I suggested yesterday that the market was showing some signs of stress.  None-the-less a morning reversal is just plain rude!  Try not panic.  Look at the price action of current positions and make solid business decisions not emotional ones.

Trade that have reversed south I will trim away today not wanting to hold them through the weekend.  There is also a good chance that I will be taking some profits today and I think it would be wise for most of th members to do the same.  There is a good chance I will close the trades in BP an MU.  There is nothing wrong with the charts I just want to reduce risk and bring in some gains.

I doubt I will sell the positions in KO but and WMT but I won’t rule out trimming them back to capture some gains.

Please keep in mind that any is possible.  Even a full rally back to the highs is not out of the question.

There will be no entry video on these trades.

A new trade in MU for your evaluation and consideration.  This trade was taken during the Live Session but is still a great entry in the position.  Below is the Trade Sheet that lays out the details of the trade.  I will add the trade video as soon as possible.