Hubert Senters here.
Let’s take a look at Nike. So obviously it got a nice little bracket going on. It is above the cloud. You’ve got a bracket short that you should have already mainly ticking your targets out of the way. Let’s walk through this. So if you did a bracket trade here and then you short it at those lows usually about a half a gap fill is pretty good.
And now you’re starting to go back the other direction so if you haven’t taken some profits here when it starts headed towards half a gap fill sometimes you’ll get left holding the bag so. I would at a minimum take some off the table and then I would trail a stop-loss because it’s still looks pretty good. You can see it’s above the cloud.
It’s still above the turning line. It’s got a parabolic SAR dots and you can see that the bulls are still in control down here at the bottom. Now, it could fall but that’s ok if you take some profit now and trail your stop-loss to something that you’re cool with.
You’re going to be exposed to less risk if it does half a gap fill or a full gap fill or if the overall market rolls back over. And tonight we’ve got the first Presidential debates to see. You know how these two guys are going to do. I’m trying not to laugh.
It gets funny that the best we can do is Donald Trump and Joe Biden for President.
I just think it’s funny whether you’re a republican or different crap I just think it’s funny. And I’m kind of in between in the middle and stuff like that but anyway I just think it’s funny that it’s come to this. But anyway, take a look at Nike. If you’re long it looks like it’s going to continue to bounce.
If you’re short on a bracket trade just tighten up your stop just in case it doesn’t fall apart here and we get a bounce and it goes through $130. And heads up, if I hurt your sensibilities because your sensitive about your political party I apologize. But if you think that’s how I taught for a living is rough dear Lord wait until you get into the markets they’re going to treat you really well.
They’re going to be super violent with you. But anyway all I’m just saying is I’m giving you my opinion and joke around a little bit hopefully that didn’t offend you. And if it does I mean the markets are going to kill you.
I’m going to be doing a special webinar Wednesday, September 30th at 8PM EST on ”The Mother of All Bubbles” which we could potentially be in. I’m going to walk you through how I go through a step by step process to figure out if something is like topping and about to roll over.
And there’s three to four things that I look for step by step and say step one, step two, step three now I can short there and use a stop. It works for bottoms well too. It does not tick out the very high tick and the very low tick. It always misses anywhere from 10 to 15 to 25 move and then it gives you the signal. Sometimes it’s quicker than that but I’ll show you all that on the webinar. I will send you over to this page that you can register for ”The Mother of All Bubbles.”
Good luck. Hope it helps. See you on the next video.
Hubert.
