Trading Ideas for August 22th
Not much trading ideas right now unless Dow Jones can trade above the resistance line that I’ve drew for the last couple of days. Asia is mostly green and so does Europe at the time of this writing (around 4 AM EST). There will be two scenario, Dow Jones opened up above 13100 line and stay there, and the other option will be Dow Jones opened up AT the 13100 line and showing weakness to close lower.
If the first scenario panned out, I’m going to buy some DIA calls and keep it for several days because Dow still have another resistance above 13100 level (refer to this chart). If Dow is showing some weakness, I’m going to enter DIA puts for day trade. Unlike previous days, today I’m going to write my trading activity live for everyone to see.
See you at the market opening! PS: Still eye-ing for some weakness in BSC, AAPL is also on the verge to either go down or go up, today’s market action will decide
