East all positive .... Option trading warning

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Derek  24 Apr 2018

Morning,

International:
The downward momentum on the US markets is substantially lower. The East has turned all positive.

It looks as if we might have reached support? You can see this in the DOW that dipped well below the EMA8 line and then climbed back to close only -0.06% below the previous day.



Shares are also showing signs of reaching support. Kohls Corporations bounced on support to close just below the EMA8 line. FrontRunner is also busy breaking up.



Those with good results are just steaming ahead. BBT Corporation bounced off support with a double bottom and has now since broken the trend lines too.



JSE Technical:
The Rand weakened and that gave support to resources. The banks got hammered.

Anglo is now hesitating at resistance, but my green trend line is still good. Remember to ignore cyclic signals when share is in a trend!



Kumba Iron Ore is also one that benefitted from the Rand. Notice that my red trend line is broken, but it is still below the 50 SMA. FrontRunner is moving steadily upwards and the price made a double bounce on support.



Option Trading:
Do you also get these emails urging you to buy options and become a millionaire in no time? I must warn you to be careful. I had a look at one of these recommended buy lists of last week and could find only 1 out 10 good recommendation. Let me show one of the others. Sketchers USA lost 32% in 3 days and the recommendation was a buy in an overbought territory. If you do not know what you are doing .... stay away from options!



Enjoy your day.
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