Breadth Battles and Holds Better Than Expected


27% profits every 20 days?

This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.


I expected to see breadth beaten up and was planning on doing an early release, but in fact, we continue to hold pretty nicely.  I wanted to see overnight market action to add to my comments and the markets have slid sideways in a narrow range.

The Zweig was hardly touched, the bottom line looks very defended.  I wanted to get to the oversold area which now seems very far away.

 

A little downside break on the CVI”

Same pattern on the 40 DPI:

NHs/NLs sitting on the 50 line.  It is all about bearish follow-through today:

Trenders remain bullish neutral:


27% profits every 20 days?

This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.


ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Posted In: Trading Ideas