Isaiah 54:17 "... no weapon forged against you will prevail..."
The markets are starting to show some strength again after some foolery lately.
Today I got the second consecutive close above a significant high. The line on the chart shows the high, but that high was longer than 3 months ago, so you can't see it. Believe me, it's there.
This is the first method of trading that I use, for lack of a better term, I just call it the "hi/lo" system. The main thing is that this used to be bear territory and now with 2 days of closing in this territory tells me that the bulls are getting strong and should push the bears back to their next "line in the sand" - i.e. the next level of resistance above, which is approx 23.00
In this method, I'm looking for longer dated option, around 90+ days. So, today I bought a Nov 18 Call for $1.07. This trade is something that we'll give plenty of room, and time, to move - also plenty of room above to make some great profit. I have a stop placed just below the 2nd level of support below.
We'll let God take it from here...
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