Prime Playbook

November 14, 2024 Volume 91 "Waiting For The Shoe To Drop Edition"

Who Wants To Play The Part?

Today’s market had a vibe like it was auditioning for a horror flick, just in time for the end-of-year “will we or won’t we get a Santa rally” nail-biter. We've got traders holding onto hopes for a 0.5% gain by year-end like it's a golden ticket, while every Fed whisper feels like they’re flipping a coin to decide if we're back in for a 2022-style joyride. Jerome Powell himself was back today, auditioning for the role of “The Grinch Who Stole Christmas”.

Meanwhile, rumors are that SPY decided it’s auditioning for a role as a rollercoaster at Hersheypark. And in case you missed it, RFK Jr. showed up to audition for a role in Contagion to prove viruses are only in movies, which sent MRNA falling like rock. And it reminded us all that sometimes, capitalism just feels like a funhouse mirror.

So grab your popcorn and lower your lap bar, because if today’s any indication, tomorrow’s trading might be the market’s attempt to reenact a plot twist we never asked for.

Now you know why I write a Substack and do not write in Hollywood…

Inside is loaded as always, let’s get right to the Lotto Friday goodies!

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My Charts

Over Green line = Entry for Calls

Under Red line = Entry for Puts

Dotted Blue line = Price Targets

Purple line = Dark Pool

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 get paid!

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ARM

ARM 0.00%↑ daily holding over this daily trendline the past 2 days. Is it building energy for a Friday bounce? Or is this ready to break the trendline and fall below. Here is my setup for tomorrow.