Okay, so I took a couple of days off to regroup after some setbacks. I have played my very first "Iron Condor" on the $NDX which I am excited about. When I master this technique, I will be able to generate steady income every month with limited risk. If you want to learn more about how to play this, you need to be an INVESTools student. My anticipated income off this trade is almost 5 figures, which when generated every month, will give me well over 40% return over the year. I'll keep you posted.
The Fed speaks today, and everyone expects them to stay status quo and do nothing. This would be quite Bullish and may give early kindling to a 4th quarter Bull rally, which is what I am waiting for...some solid direction in the market.
Meanwhile, oil and natural gas are getting hammered as are other commodities which may make for some very good buying opportunities. If the Fed does keep interest rates stable, even though Housing may have fallen off a cliff, it may also be a good time to get into those as well as Retail.
Cheaper Oil, No Interest Rate Hike = Weight Loss?!?!
So check this out, NTRI, which I made a lot of money on the upside a few months ago has been downtrending recently. The stock was falling away from it diagonal resistance and the MACD and STO looked perfect for a Put yesterday. then today, WHAMMO, a complete 180. The stock is up almost $4.20 today on no news, just speculation I guess that since oil is falling, and the Fed may pause again, that folks will spend money on weight loss products. Funny logic. I got out quick on this cause it smelled fishy and I didn't want to take a bath on this nonsense, so once it pierced the diagonal resistance I line, I said "Aloha."
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