Prime Playbook

October 20, 2024 Volume 84 "Sunshine & Rainbows Edition"

Everything is all Sunshine & Rainbows…

…apparently. I am starting to wonder if the market is just in permanent up mode until the election at this point. I mean, we have been green 6 weeks in a row now. How high do we go?

This week will be a good gauge as we are loaded with big earnings reports throughout this week. TSLA, UPS, KO, BA, MMM, IBM, TXN, HON, T, ENPH, and many more (calendar is at the end of the stack) will be reporting. It is always a good idea to check when a company has earnings as contract premiums will fluctuate greatly when ER is closing in.

We have Feds talking throughout the week, but no real major data this week outside of jobless claims on Thursday and PMI on Friday.

Vix finished out the week by going in to a free fall on Friday. This could be a great opportunity to get in on some trades with premiums a bit cheaper than we have seen the past few weeks.

As always the stack is packed with my charts and trade ideas to bank with. Set the alerts, reminders, levels, or whatever you do to follow along, and let’s get to the plan for the week ahead.

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My Charts

Over Green line = Entry for Calls

Under Red line = Entry for Puts

Dotted Blue line = Price Targets

Blue Boxes = Demand Zones

Red Boxes = Supply Zones

Price targets are not the same as option strikes.

Price targets are where I believe the chart can/will go.

The strikes I suggest are what I think provide the best risk/reward to make money.

Let’s BANK!

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MNMD

MNMD 0.00%↑ weekly pennant. This thing was in a coma for all of 2023, but came back to life this year. The price action is getting tighter here, and the weekly candle is a nice sign for continuation. Let’s take a look at my plan.