🚗 A GLD Play Post FOMC

[] [The daily rundown of everything happening at Option Pit.]( [3).png]( Mark-et Open Griff here with the Chart of the Day. Watch GLD here as it builds up energy in a tight range between the 50 & 200 dma. When you see moving averages converge the breakout can be explosive. You would also have to say GLD traded well post FOMC… I am looking at JAN19 call spread and an Oct20 put credit spread to finance it. [ The precious metals will be the first sector to breakout higher as we move closer to an end of the tightening cycle. Next week I'd like to see a small down tick to 176 and I'll pull the trigger … Let's Go! [ Trader's Edge: Market Meltdown or Bounce Back? – Week-in-Review Video It’s Mark Sebastian, your trusted source for market news and volatility analysis. Welcome to our Week-in-Review where we dissect the exciting events of the past week. And let me tell you, it’s been a rollercoaster ride in the markets… Here’s what’s on today’s list: Market Volatility Explosion: - From plummeting realized volatility to explosive market movements – it’s been quite a week. - Significant shifts in S&P 500 movements, and we’ll explore what this means. Intriguing Trading Opportunities: - We’ll discuss some successful trades, including a big win with Intel. - Exciting new trades are in the pipeline, like a long VIX and long S&P pair. Bond Market Blues: - Take a look at the bond market – TLT got absolutely smoked. - Oil’s shine seems to have dimmed – we’ll delve into that too. Cues and Market Recovery: - The cues, as bad as the S&P, faced their challenges – we’ll examine their recent movements. - My predictions on potential market rebounds. VIX Insights: - An in-depth look at the VIX curve – what’s been happening and what it means. - A critical warning sign to watch for next week – backwardation. Support Levels and Market Predictions: - Discussion on support levels and their implications. - Could the VIX make a run at the 200-day moving average? [Catch it all right here on today’s Week-in-Review Video…]( - Mark Pit Report: PENN Chart Analysis I personally am not much of a gambler. As far as sports go, I am in my second year of college football, and loving it! You know my team is TCU, but I am also watching Coach Prime and Colorado, they are so good. I don’t know much about Penn Entertainment (Ticker: PENN) but I can read a stock chart. [Continue here to view my analysis…]( - Licia Profits in Pumps: Keg Stands and Desktop Flips Just in case you missed my awesome presentation on Wednesday night, [you can view it here.]( This weekend is our Parents’ Weekend at my son’s school. So very exciting. It will be a mob scene as it is TCU playing SMU which is basically Fort Worth and Dallas. So you know everyone will be there, and tickets were more expensive. The game is at 11:00 AM so the tailgate at the frat house will start at 8:00 AM. Last year I kinda felt guilty drinking a mimosa that early in the morning. But at least I wasn’t the mom doing a handstand on the keg. True story. Fun times for all. [Here’s my new trade idea...]( - Licia AG’s Views: Can stocks rally without the consumer? From the Desk of Option Pit Director of Education Andrew Giovinazzi. Watching Chewy Inc (Ticker: CHWY) go to $0 got me thinking about consumer stocks. Well it is not $0 but $18. Big fall from grace for a company with a $120 price tag two years ago. It got me thinking how all the other consumer discretionary stocks were doing. The answer: NOT WELL. Lows of the year to be exact. At this point I need sentiment to pick up for the consumer as it is just awful right now. Until the Consumer Staples Select Sector ETF (Ticker: XLP) picks up, I think stocks are going to limp into the quarter end in a couple of weeks. [ [ There are too many cheap stocks in this area right now so take your pick. XLP is a good canary in a coal mine stock for the turn up. -AG OPTION PIT GLOSSARY [( There are plenty of terms in the trading world that need defining. The [Option Pit Glossary]( is here to help. Today's phrase is: CBOE - The Chicago Board Options Exchange. [( DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. Neither Option Pit LLC nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational and educational purposes intended is at the user’s own risk. DISCLAIMER: OPTION PIT LLC IS NOT AN INVESTMENT ADVISOR OR REGISTERED BROKER. 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