Hi Guys,
The market made upward price progress yesterday only to see that progress disappear this morning and be back to where it started. It's clearly still a volatile market environment. That said, there seems to be a possible "floor" being established with regard to the market's lower price limit, and for the moment we're no longer riding the lower band of the Keltner Channel. Does it mean we've seen a bottom to the market turbulence? There's definitely no way to know for sure, but it's at least a positive signal. It's still quite volatile though, so only time will tell.
I added a futures position today for the /MES. I posted the corresponding SPXL equivalent trade. I also, for the first time, took a corresponding options trade for it in my extra options account using SPY options.
Yesterday I finished doing the work needed to prepare an options trading approach for my futures trades. So from this point forward, each time I make a futures trade, it's likely that I will also make a corresponding options trade in my options account. Finally the subscribers who are exclusively options traders will have a vehicle to capitalize on the back-tested edge I've found with these MES futures trades.
There were no other stock or options trades yet today, but I noticed the watch list and scan results are both growing. Despite the market volatility, there are a couple pockets of stocks that have been in uptrends, so we may have some potential trades coming down the pipeline once those have pullbacks.
If you have any questions or feedback, I'd love to hear from you.