Buy But Not Overbought
Just ONE week until our Options Bootcamp in Riviera Maya where we’ll all be using our latest game-changing software upgrades for fast and safe growth.
Over the past few weeks we’ve released amazing features, and the best is yet to come with our new OVIspike indicator which is giving the best test results we’ve ever seen, and a host of software features only possible because I and my team actually use our own software to trade.
This is called “eating your own dogfood”, and is why you see features, research and strategies with WiseTraders that you don’t see anywhere else.
Remember, one of our best students – along with other great success stories – will be there in person, revealing how our Big Money Footprints transformed her life from perpetual losing gambler to an 80% win-rate market pro, with very little time commitment.
This is a unique event, where you’ll be doing 17 practical exercises on the Platform, understanding the nuances of options that will transform your outlook, and finding actual trades – many of which will be in our favourite sweet spot … Post Earnings!
Join us in person or remotely and have a transformative experience that puts you firmly in control of your trading destiny.
Last week’s Foundation Day flew by and is available in its chapters for easy review. Next weekend is all about strategies.
Have a chat with us here to explore how you can benefit from our unique approach to options and this unique event.
Market Outlook:
Two weeks ago I mentioned the markets were overbought and a pullback was likely.
Well, it threatened, teased, whipsawed, and then carried on upwards! But it will pull back soon, mark my words.
So, by all means look at longs that are near their Key Levels, protect any longs that you have … Just don’t be tempted by anything that’s overbought.
Our market commentary continues to be outstanding. Mastering market timing enables you to swim WITH the tide at the right time.
Watch the video for more detail.
Market Timers:
- Longer Term Market Timer (OVIsi):
Half green. - Medium Term Swing Timer:
Bullish. - The Main Indices OVIs:
All positive apart from the DIA.
Stock Selection:
It’s earnings season, so we should rightly be focusing on our post-earnings setups.
Last week we also released a big addition to the Earnings Calendar app, where you can find and analyze a plausible post-earnings setup in less than 60-seconds.
This is raw power like nowhere else. And the biggest advantage for you is that you can spend less time finding the best setups. That’s a huge payoff.
** Remember, managing risk in your trade management is as important as trading with higher probabilities. This is very much part of the WiseTraders method, and is our third Master Key. **
Look in our Gift area inside the Platform to watch “How to Cap Your Losses & Protect Your Profits“.
Increasing your probabilities with a logical proven system is an essential part of trading. But you also need a rock solid trade plan that tilts the odds further in your favour.
Our EDGE Trade Plan does exactly that, and you will find trading so much more rewarding and peaceful if you adhere to its principles.
My goto playbook is OVI, near Key Levels, Trend Fades, and a consolidation/sideways move. The other two Big Money Footprints are highly desirable but those four are essential to me! With my new VIP filters, I’m also now looking more at overbought and oversold issues.
Go into the ‘Expert Watchlists’ area of the platform to view my Watchlists for (a) all the stocks I cover in today’s video, and (b) a smaller list that warrant a closer look.
** The list of stocks is in the Expert Watchlists area (just click on my image to see them), so you’ll have to log in to see it. Market Timing will also go inside a login soon. Remember to reference the video commentary so you know what my sentiment is on each stock listed. **
Don’t Miss Out:
Software Upgrades:
More game-changing upgrades will be made in time for the Mayakoba Options Bootcamp on 9-10 May.
Lined up for later this year:
- Chart Replay – DONE!
Go back in time and replay a chart setup to see how you would play it. A training game-changer.
- Annotations on the Charts – DONE!:
View the Big Money Footprints displayed on the charts! Instant clarity, especially for Trend Fades.
- Instant Chart Data – DONE!:
We’re reaping the benefits of this … a game-changer!
- Market Timing:
A significant upgrade to our Market Timing and Dashboard area is in the works. Stay tuned for any announcements.
- OVI Upgrades:
Two huge upgrades are coming for the OVI!
First is a mechanism to increase the number of stocks and ETFs to be more readable.
Second is a new research project that dramatically reduces our universe (so saving time) while increasing the probability of a profitable move.
Both of these are game-changers.
- Options Enhancements – DONE!:
The Analyzer upgrade is also deployed. Anyone can now trade options with complete visibility in just a click.
- More Automation:
All these enhancements are paving the way to more automation, and accelerated use of A.I. while avoiding the pitfalls of overfitting.
The result will be more precision and less time.
More updates are on the way!
Upcoming Events:
Our Options Bootcamp in Mayakoba, Riviera May, Mexico is on May 9-10th! It’s going to be super practical, using all the new enhancements to be released especially for the event. Don’t think you can do options? I’ll prove you wrong!
Watch today’s market review inside the members area here! To the left is the Watchlist area. To the right is the TV area.
How to Watch This Video:
The best way to watch this video so you can flip through the charts at the same time:
- Log into the members area: https://platform.wisetraders.com
- Click on TV within the Platform (top right)
- Choose “On Demand”
- Play
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Remember, you can play the video at 1.25x or 1.5x speed if you want to save time! I have placed all the stocks covered in today’s review in your “Latest Preview” watch list.
