We’re seeing green on the week so far even after giving up some gains yesterday.
That’s normal after a massive 3-day rally, which we call an inside day.
There are a good amount of stocks setting up under the surface, which could continue to lift stocks into October.
Now, the fear gauge for the S&P 500, known as the CBOE Market Volatility Index (VIX) is holding at 25.
That means volatility is 2x the normal and markets will see quick moves higher and lower.
Let’s talk about our newest position this week.
Right now, we’re holding:
Let’s keep focused and let the market come to us.
And I’ll be keeping you updated every step of the way.
The mailbag is full, so let’s get to your most pressing questions.
I am frustrated because by the time I receive the trades they are above the limit price. When I try the following day again sometimes, I get in, but usually not. Please advise so I don’t miss any trades in the future? -Steve K.
I can understand the frustration — I’ve dealt with it over the last 15 years in the market.
If you’re not filled at our limit price you entered on a day order, then that order is canceled at market close.
If you enter “good till canceled,” it keeps that order open until it’s filled or canceled.
I don’t suggest leaving orders open or using “good till canceled” when trying to get into option trades.
Once you’re filled on a trade and you want to enter GTC sell orders on price limits, you can.
Markets move — you don’t want any open orders that you forgot about to get filled.
If you still want to make the trade, you can cancel the order and replace it with a new limit price.
Your goal should always be to get a better fill price than what is listed on the buy alert.
The limit price I provide in every trade recommendation is the max you’ll pay up to.
If the price of the option goes over our buy-up-to price, you can increase the price, or you can try the following day.
If you increase do increase your buy-up-to price, I’d recommend not paying more than 10% of the price I’ve listed.
So, know that we always aim to accurately reflect the price at which New Money Traders are getting their fills in our official prices.
I send you a new trade every week Monday and I also provide bonus picks.
So, If you missed out, there’s more opportunity just around the corner.
That’s it for me today, be on the lookout for our next profit alert!
If you want your questions answered next week, make sure you email it in today at [email protected]
Joshua M. Belanger