Daniel Bustamante | Coach
I'm sitting here this morning making sense of the markets last week and procrastinating my road-ride. The one thing you don't want to procrastinate on is your retirement and the plan for these markets. They're nasty right now and the question I'm trying to determine myself is whether or not we're close to some buying opportunities.
Also I got caught up watching this again. A favorite of mine from years ago.
So let's look at the Nasdaq, which for me, is my leading indicator (sorry to offend those of you with those fancy 'back tested' indicators you have on your charts).
By the way, click the chart to expand it.
There's still a lot of pressure on this (selling) so $7000, $7040, $7100 areas are levels that need to trade above. Now I know some of you sticklers want an exact level to the penny but the markets don't work like that so think of it like this: The markets need to trade above those areas.
I really like this company. It's easy for small business owners to use and I've been a fan of it all year. I had a $1,700 swing trade earlier in the year on it in my IRA. Ideally, I'd like it to trade to $58-$67 and I'll be a buyer.
In 2017 this stock was just vertical. Good news, bad news or even fake news on it didn't matter; it went up. We're $80 off the highs this year on it. That being said I'll be interested in it this week. I have a feeling it trades to $115-$125 but we'll see. I made a nice $2,000 trade earlier this year on it, its a good lesson to watch.
Netflix and buy? We'll see. $290-$295 is an area I like, but not for shares, for calls. $330-$335 is a hard task for this stock to clear but in this market anything can happen. Below $290 then it's open air to $270. Won't be buying shares on this, probably ever.
So those are a few items on my shopping list for this week and the next few weeks. There are more but I've procrastinated this morning ride long enough and I need to prepare for this upcoming Thanksgiving feast in a few weeks.
One more thing. I'll be hosting a 3-Day open house again this week from 9:30-11:00am EST.
If you want to attend I'll need you to fill this form out to get the link - Please fill that out before (today) not at 9:15 am.
Enjoy your Sunday.