Prime Playbook

September 19, 2024 Volume 75 "Mt. Vesuvius Edition"

There She Blows!

Well bipolar Powell came to town this week and the market exploded like the city of Pompeii in 79 AD. Today we had a massive overnight gap up and then we pushed even higher. Powell said for many months the Fed was going to take it slow, watch the data, etc, and then he just rips the band aid right off!! I don’t think many were betting on the .50 rate cut, but the show goes on regardless.

Tomorrow is Lotto Friday. You know the deal. We find those 1000% trades non-stop, and tomorrow I expect nothing different. As usual today’s issue of the Stack is loaded with charts and DO NOT forget the Bonus Picks at the end of the Stack. Those things slap hard!

Tomorrow is quarterly OPEX, so please do not force trades. I hav plenty of setups to guide the way. It’s getting late, let’s hit the charts!

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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 get paid!

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ULTA

ULTA 0.00%↑ with the weekly breakout in progress. There are going to be a ton of names tomorrow with far OTM options that can turn a few bucks in to mega bags. This is definitely one of those tickers I have high on my watchlist tomorrow. Now let’s talk about what I’m looking at for calls and puts.