The focus this week has been on NVDA earnings due out after the close of trading today. After that, its anticipation of a long holiday weekend and then beginning next week what should be quite a final four months of the year. August 5th was a global financial shot across the bow, all things financial went down hard: Stocks, Gold, Silver, Interest Rates and Bitcoin. Nonetheless, the stock index puts that we held pursuant to timely Sell Signals in July generated some outstanding percentage gains: Premium Service - Aug 5th PRO Service - Aug 5th Everything we do after Labor Day will be with the expectation that more of the same kind of volatility seen from late July into early August will be coming into the 4th quarter of 2024, and perhaps beyond. No need to recite all of the potential triggers, suffice it to say that Aug 5th was not a one-off anomaly. It was a warning, or maybe even a test. All things must pass...and as those tables above can attest, there is an option strategy to prosper while it does. Next Week Next week begins the three-week countdown for the expiration of any Sept 20th options being held from earlier this summer. We will be rolling over Gold calls into new strikes/expirations and any stock index puts into longer-term expirations. I'll start addressing specifics in the upcoming Weekend Update, as well as Special weekday Alerts as needed. Last weekend I posted some of our best trades of 2024 here: On Trading Options and I have no doubt that some of these new rollover positions will end up among the top ten list at the end of the year. Stay tuned, stay alert and ready for new trades. QQQ Pre-NVDA earnings NVDA Pre-Earnings: Any disappointment will likely lead to a new fresh red Sell Signal Trade Management - Bitcoin/BITO BTC BITO BITO Dec 20th $20C In just a few short days Bitcoin has retraced its entire gain from last Friday, removing the main bullish pillar on which we rested the most recent call purchase. Both Bitcoin and BITO chart patterns allow for this dip without completely abandoning the bullish wave count, so its OK to hold the call a little longer, but if it drops to below $1.00 it will violate the 50% stop rule, so that would mean an immediate exit. It's possible that a bullish surprise from NVDA earnings today after the close could propel everything higher into the long holiday weekend, but until Bitcoin climbs back above $60K, I'd keep this trade on a short leash.
