Rules For Trading This Market

Posted by Joe Duffy | May 9, 2024 | Joe Duffy's Trading Advantage | 0 |

My roadmap has been pretty spot on and I don’t see any reason to change the general view. That means mostly plus days through May 17th next Friday. At the same time it is a market that is burning a lot of option premiums on both sides. Remember options are a depreciating asset … 80% of em expire worthless. So burning premium means that options are losing time value whilst the market tries both sides up and down with limited sustained success.

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In that environment with still a bullish slant, buy dips, sell any pop, book profit, don’t be greedy. I am holding things for 1 to 3 days only. Not chasing anything. Really the latter is most important right now…. it’s not a market environment for home runs. You have to be content to grab a quick even if small gain and move on. If you hold too long you will become an option premium erosion statistic.

Thanks,

Joe

About The Author

Joe Duffy

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