This is the transcription of the above podcast ^^^
Hello I would like to talk to you about the One Minute Trader. We are here to take the time strapped trader and turn them into a profitable, money making machine with daily ideas that give you the trader on the go a reason to trade.
With risk defined and profits taken when able. I’m Matt Davio and this is the One Minute Trader Podcast.
Alright welcome back to the one minute trader podcast. Tony. we’re gonna try doing some videos of our podcast recordings also.
So bear with us for a minute here as we play with the technology but. Pretty quiet week for the first week of August, the thirty first was Monday and we finish up today the fourth.
Basically everything closed at the highs again for the weekend well the Dow up forty five today and actually had a real strong week. The NASDAQ ended up it fifty eight ninety eight and kind of where it was last week so here we are one two three four we close pretty much where we open the NASDAQ.
And same thing with the S&P and then the Russell was down I’m pretty sure for the week, considerably. The only real big thing that happened here late the week was the euro turned around the euro did turn around for the first time in quite awhile actually got hammered today went all the way down about 175 and rallied back to the close but as you can see here by the chart, that it really got hammered today and that took out basically the last seven days of lows so.
Looks like we’re just going to do that.
What percentage wise was it about?
a percent and a half today and then it rallied to take half of it back so which is kind of what I would expect but I think this is a screaming short for the first time. It finally broke this is the first time in about seven weeks that we saw some serious selling. And it was right off the open you can see these these big bars here the mystery it was three hours straight as was one two three hours of constant selling . And then we had this little, you know, as I called it weak sister short, cover opportunity that’s usually why a rally like this a weekly in the end of the day because anybody they got short anywhere in here. Just like okay I gotta get out or a somebody gets short hole here and they take a loss too. So that’s really what happens on days like this but you can see me we we went all way back to, this is where we close last week so in all actuality the the euro still did close green for the week. So that’s kind of interesting to note but other that you know we had a pretty busy week we talked a little bit about Priceline, early in the week we had a a strangle opportunity that we talked about, which by the way did work out. It expired today was a one week trade.
We jumped on it.
Yeah we talked about a Monday in our in our video to our clients that said listen sell the nineteen fifty puts on Priceline and sell the Twenty seventy five calls and that would be selling to strangle basically what we’re trying to do is capture that move to no-where.
Alright and here is one thing that, Like people don’t realize that if you know that something’s been kind of quiet they’ve got a binary of the an earnings which which Priceline does next week
It’s likely not going to move too much. The week of.
It’s waiting for that event so it’s kinda like a fed meeting. And this is the way that people can capture money out of the market by the market not moving.
So you can make money going up you can make money going down and you can make money sideways. So I want to point that out because even if the market’s not moving there are opportunities especially in something like Priceline that had been very volatile and had been moving quite a bit. It was a good opportunity I felt, into earnings next week, define it because they have one week options he put him out there. And if you would have sold, if you would just sold ten contracts of each you would have collected five thousand dollars for the week.
Not a bad week.
So, yeah, it totaled about five dollars in premium that we sold. Now if it, if it went against us at any point in other words if it started getting up towards twenty eighty or nineteen forty we would have to manage that we talked about that in our video. The other video that we were really successful with already, it’s come down fifteen dollars, was gold on Tuesday and the video is, we’re gonna link to it here.
You know following today’s podcast. But that we set on what we said on Tuesday that Hey gold here at twelve seventy eight to twelve eighty and that’s about where it went.
Sell it here look for it to collect back to twelve sixty and it happened here by Friday. Today we were down about fifteen dollars covered it at twelve sixty three.
So you can again watch that video from Tuesday and see how that one went. We then had our typical Q&A video that went out to clients and then we talked a little bit about the Dow and then today we talked about Nike. So was a busy week, a lot going on as far as still a lot of good trade opportunities but. As far as the indices not a heck of a lot happened except for that kind of changing care to towards the end of the week in the euro which in fact we had a huge rally in the dollar today we may have put a bottom finally on the dollar.
I have been hearing some dollar news this week actually. Kind of filtering out to the channels.
well I’ve been buying the dollar and and I’m finally in the money here it went up a dollar you know it was ninety two my gosh it was down to about ninety two fifty yesterday.
But that’s it. We just wanted to do a quick recap here of the Five Minute Trader. Please like us on iTunes like us on stitcher,
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Any questions send them to me at [email protected] . And as always we appreciate your feedback and we’ll see you next week at the One Minute Trader.
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I’m Matt Davio and this is the One Minute Trader Podcast