Today’s Trade Idea:Sell/short SCHW Stock for Bucket 2 Swing Trade
See the full position lineup of our bucket 2 swing trading portfolio HERE
See the full position lineup of our bucket 3 investment portfolios HERE
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Sell/short SCHW Stock for Bucket 2 Swing Trade
On the back of yesterday’s weakness in equities in reaction to the latest Fed meeting, shares of Charles Schwab (SCHW) fired off a new T-signal sell/short on the Market Rover
Any follow-through selling from yesterday could see SCHW accelerate the move lower. Any sharp bullish reversal on the other hand would be our clue to stop out of this bucket 2 swing trading short.
Entry: Sell/short SCHW stock in the $208 – $217 area
Target 1: $55.50 Target 2: $54
Stop loss: A daily close above $58.90 would be a stop loss signal.
Options trade idea:
Buying the UNP November 17th 2023 57.50 – 52.50 bear put spread. This means to buy the 57.50 strike put and sell the 52.50 strike put, all as one spread, i.e. as one trade.
On options positions we work with a 3 week maximum time stop. If the profit target or stop loss has not been reached within 3 weeks, one can then close out of the options trade or roll it out to the next month.
Today’s Trade Idea: Sell/short SCHW Stock for Bucket 2 Swing Trade
See the full position lineup of our bucket 2 swing trading portfolio HERE
See the full position lineup of our bucket 3 investment portfolios HERE
Please join the Inner Circle and Market Rover conversation in our members Slack chat room
Sell/short SCHW Stock for Bucket 2 Swing Trade
Entry: Sell/short SCHW stock in the $208 – $217 area
Target 1: $55.50 Target 2: $54
Stop loss: A daily close above $58.90 would be a stop loss signal.
Options trade idea:
Buying the UNP November 17th 2023 57.50 – 52.50 bear put spread. This means to buy the 57.50 strike put and sell the 52.50 strike put, all as one spread, i.e. as one trade.
On options positions we work with a 3 week maximum time stop. If the profit target or stop loss has not been reached within 3 weeks, one can then close out of the options trade or roll it out to the next month.
Chart: