Prime Playbook

December 8, 2024 Volume 98 "Festivus Edition"

The Airing Of Grievances

It’s about that time of the year where everything seems both exciting and yet there is this feeling of annoyance that comes along at the end of every year. The feeling we could have done more, done better, etc. Or perhaps we expected more out of the markets than we got. Well the good news is that now is the time to let it all out. As Frank Costanza explained, “At the Festivus dinner, you gather your family around, and tell them all the ways they have disappointed you over the past year!”

So let it all out. Tell your broker how much they suck! Get a journal and write down all the things that are running through you mind. Punch a wall. I don’t care. And then take a breath, go to urgent care if necessary, and then get refocused as we head towards the end of the calendar year. The Fed is on blackout this week so there are definitely moves to make. I have a nice menu inside this Stack with charts that can rip and Bonus Picks galore to set everyone up for bag after bag.

Calendars and data at the end as usual. Now let’s get to 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

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 BANK!

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ELF

ELF 0.00%↑ daily closed Friday with a doji at the trendline after being several dollars over during intraday action. Two gaps above to fill, and I like this one with the ULTA ER beat last week as a potential breakout candidate this week. Here is my plan.