Professor’s Comments Update 8/26/19

Posted by OMS  at August 26th, 2019

The Model just bought a trial position in few DXDs at 27.86. The purchase might be a little early, but I want to have a few shares on if the market begins to head lower. The Model will look to add to this trial position on any decline from current levels.

BTW, in my own account, I’m looking to buy the 18 October 260 Put on the DIA under 8 bucks. That’s me at the current bid of 7.95.

Students might want to look at a 60-min chart of DXD’s to understand why the Model bought the DXDs.

Note that the 2-period RSI is oversold while the CCI is positive.

h

One hour video recorded from May 28, 2016 The Professor’s Signs of a Major Market Turn – Prospectives and the Projected Timing and Levels One hour streaming video – includes webinar handouts The Professor usually holds an update class whenever the Market looks like it may be making a major turn. If you have been following the Professor’s Comments you know that a turn is due….. LEARN MORE

Not sure of the terminology we use? Check out these articles

The Hockey Stick Pattern
The Creation of Waves and Trends
FAQ

All of the commentary expressed in this site and any attachments are opinions of the author, subject to change, and provided for educational purposes only. Nothing in this commentary or any attachments should be considered as trading advice. Trading any financial instrument is RISKY and may result in loss of capital including loss of principal. Past performance is not indicative of future results. Always understand the RISK before you trade.