I entered my first trade of 2017 this week. I am forward testing Chaikin "Money Flow Buy" signals. Quick refresher, I am selling puts on MF buy signals, to reduce the cost basis bullish stocks I want to add to my portfolio. A full explanation and rules of my 2017 plan can be found here.
JPM gave us a MF Buy earlier this week. it meets all of my requirements.
Bullish or Very bullish power gauge rating, Price above a rising long-term Chaikin MA, Positive money-flow, positive relative strength, earnings are behind it. ( Additionally, I prefer to see an oversold oscillator and strong industry and trend, but these are not required to enter the trade. )
JPM gave us a MF Buy earlier this week. it meets all of my requirements.
Bullish or Very bullish power gauge rating, Price above a rising long-term Chaikin MA, Positive money-flow, positive relative strength, earnings are behind it. ( Additionally, I prefer to see an oversold oscillator and strong industry and trend, but these are not required to enter the trade. )
I sold 2 FEB 17 85 strike put contracts, for a credit of 2.17 each. This IS a bullish trade, my goal is to acquire the stock. If I don't get assigned, I'll sell another put next month, collect more credit and further reduce my cost basis on JPM. I will update you on this trade at FEB expiry.
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