Last Friday we shared an article from Don Fishback about why he is bullish. He outlined some compelling information on his position and now we have had a week to see how it played out.
The week definitely threw us a curve with the drop on Tuesday, but we then went on to hit all-time records for the Dow and the trend continues. Not only did his article outline how he was able to confirm the trend, but offered some smart ways to trade it.
As we look at the Dow chart you can see that we are getting these leg-up moves when we get a test of the 10 day moving average. The support, although being tested like it was on Tuesday, is holding and continues to provide long opportunities.
There is still the ever present risk of a reversal and using the right option strategy allows you to set a defined amount of risk you are willing to accept to grab gains as the rally extends.
Don Fishback’s Your Quick Start Guide To Option Success shows you how to find the right strategy for this market and how to use his methods for putting the odds in your favor with every trade. Be sure to grab it here.
Keep learning and trade wisely,
Market Wealth Daily