 Good morning, everyone Happy Wednesday January 31st the last trading day in January and should be an interesting one with The Fed announcement today regarding interest rates this afternoon, so And then there was earnings after the Bell yesterday Microsoft and goog Google Actually had good results, but their stock had went down after earnings Good currently down to lower 5% Microsoft has come back up a little bit. So just down about a little under half a percent But the NASDAQ in general down about 200 points, so NASDAQ futures Dow futures green up 60 S&P down 27 S&P as an expect SPX has an expected move of about 29 points today, which is Higher than it's been recently so It'll be interesting to see With the zero DTE iron condors that I do Will there be some chop at you know in the morning while everyone just waits for the Fed it that announcement I'm hoping to get on, you know at least one maybe two iron condors this morning and hopefully be scaled out And just let the market do whatever it wants to do You know when the Fed announces that I mean it's gonna go one way or the other And so There's another reason I want to have at least one or maybe two on is because I've got I'll have those long zone and the market Trashes or or goes up 1% I've got those longs that will be Potentially valuable But hopefully be scale out of the Shorts, you know by the time that announcement happens at 1 p.m. Central So for now, we're doing the mighty 90s and runners volume runners continuation runners for this first hour if you are new welcome Make sure you You are new to the mighty 90 volume runner and continuation runner Make sure you go to the day trading courses find those There's the bell find those courses and then Watch the courses and do at least 100 paper trades of These strategies do not trade real money Out of the gates Gonna be interested to keep an eye on futures today, or I guess just the indices NASDAQ down 185 S&P down 22 And the Dow down 55 morning fast Morning out a lp arrow what I'm saying that right MRP and Benji Russell falling NAS Dow coming down Microsoft pushing up into the green territory. So I wondered about that because it it had You know, it's earnings were actually pretty good even though it Came down. It's worked its way all the way back up and then now is a green morning theta Apple coming down. So Again, if you're new With these You know, we're just buying puts and calls here directional make sure you position size correctly because You know Little more risky to just buy a putter by calls So I always have I always tell people I haven't said that I haven't said this in a while but I always tell people When you trade the mighty 90 and volume runner continuation runner You got to have an idea of what going in small looks like for you What does going in medium size look for you? What does going in big look for you? For example for me going in small would be like 2500 buying power and below Going in medium size, which is what I normally do is Going in about at about 2,500 to 3,500 of buying power And then going in big for me would be 3,500 or higher buying power So you have to determine that based on your account size Today I might go a little smaller just because Combination of earnings plus a Fed announcement coming up Never know what could happen So I might lean closer to the 2000 of buying power 2000 to 2500 right in there rather than, you know, three three thousand thirty five hundred Getting a lot of pushing up right now by some of these stocks Meta Tesla Netflix Microsoft and Vidya Today we trade the two days to expiration option chain So to DTE We do not do anything With this first bar. We kind of we got to wait till the second bar. See if The second bar starts Here in about five seconds. We'll look for a volume runner, which is The second bar being bigger than the first and in the same direction Morning, San Ray morning Gonzalo morning rookie trader. I'm going to keep my eye on ES here See if we get a couple pushes and then some consolidation as we head into The weighting of the Fed announcement morning deox Walmart announces three for one stock split just saw that on across the business channel here That's interesting considering It's only a hundred sixty six dollars Now it's that getting something back here up. It's down 157 now S&P coming up a little bit here as well AMD had earnings yesterday and it was down quite a bit After earnings was announced it's kind of coming it's kind of been coming up here It's down to about four percent now So we're looking for a volume bar bigger than the first and in the same direction Yesterday, we had a really nice Square downside volume runner Roku Got some potential here for a Roku downside volume runner So that could flip green pretty easily still a lot of time left the Roku is definitely going to get there So if Roku gets bigger than the first here We're gonna we want to look for a little bounce that could happen during this five-minute bar Or it could happen during the next one, you know, if we're getting close to the end of this bar Which has got about a minute and a half left It's it's kind of where it is now and it might be a good time to get in but We'll wait till it gets closer to this closing because we don't want it to flip green last 15 seconds Had that happen before looks like zoom might get there as well Check thinkorswim on that one close got about 30 seconds left Watching Roku and thinkorswim as well. It's still not there yet. It's like it just froze Just just just didn't quite get there and thinkorswim. I mean it's close I'm gonna pass on it. So we will wait Vicks only up a little over half a percent It's coming up though That's the looks like it wants to go higher nice push up Kind of pausing here don't usually do continuation runners this early We looking for mighty 90s right now from now on that Tesla push up there Just looked like it wanted to NASDAQ down to 212 now So NASDAQ has fallen and it's pushed through the pre-market lows Vicks firing up Gonna be interesting this afternoon. That's for sure Yeah, the second bar just needed MRP just needed to be a little bit higher when it's really close like it is So so in my Orion platform here that you guys are looking at What's close like this? I'll take a look at thinkorswim and see what it says and Yeah, it was just it just Wasn't quite big enough. I mean it could still go down. You just never know but I like it to be just a little bit higher So now we're looking for a mighty 90, which is this current bar being bigger than the previous and in the same direction Yes, yeah, good. Good. No call in Roku man. Look at that. I've been a loser It's just a lot of years of watching price movement and new Tesla was gonna push up So that's some peace start now kind of choppy. I wondered about that a lot of time on these days leading up to a Fed announcement, you'll just get chopped until the announcement But we're definitely getting some two-way action here Tesla pushed through highs of day, but some of these other Tech stocks coming down bowing pushing highs of day Boba pushing highs of day and by do when you see stair stepping down in volume like bowing here It's just not you're just not getting any signals. And so I you know, you don't want to force anything When you just buy and put some calls two things you don't want to guess Well, if you find yourself saying, well, I think it's going this way. I think it'll go this way you should probably re-evaluate that and Then the second one would be just Watching your position sizing. No, nothing in Apple what? So I love it when I love it when You guys post You know, there might be a potential trade that maybe I've missed. Yeah, but always always post what strategy you're referring to No, because you don't want it to be a tick higher like you want it there to be clear separation That's always a lot of confusion for people new to the mighty 90 They see something like this and they're like, oh, it's bigger than the previous one Well, no, it's not really like you want you want distinct volume pop separation. Yes, they're stepping down like this It does not lead to to very many Good signals a lot of stair stepping down here Microsoft pushed up out of the gates now has come all the way back down. That's some pee push down so Again another reason why I wait to do my iron condors is because typically you might see two different pushes between You know in the first 30 to 45 minutes of the market open kind of seen a push down right now Vicks climbing now up two and a third percent to Roku Good no call on that one These days where you have you know days after earnings and Fed announcement coming up He just got to be a little more careful. So I've got an order in a square Build a 142 in square on a mighty 90 short So I would get out of half at a half my contracts Let's go 160 BAC I Don't have BAC on my list. I can definitely take a look at it. Yeah, so BAC looks like an upside volume runner Not a mighty 90s San Ray The third bar is bigger than the first and it's already come down To to where you would exit anyway. So it'd be a failed volume runner right now. So Glad we're not in that one. So but you can see what square. It's a definite You can see how the volume pops so compare that one to the one that somebody said earlier Major difference Seem like this Apple doesn't have that volume pop separation. I was close to getting out of half my Square but now it's come back up. Okay, so based on what I just said about square What are we thinking here with Roblox? anybody What do we want to do here with Roblox? So rookie trader says mighty 90. What's everybody else say? exactly fast could be could be a volume runner rookie trader because There's there were still a minute and a half left and look how big that bar is a bar gets bigger than this first one It's an upside volume runner. So I'm gonna hold off on that When base had a little mighty 90 so square gonna give us one red bar. We're looking for two consecutive reds Check Roblox and think or swim. Yeah, that bar is gonna get Roblox is gonna get as big as the first So that would be an upside volume runner So that's some that's that's why you don't get in if you would have got short there And it turns into an upside volume runner and then rips up. It's a big losing trade for you So that's why you got to be careful and watch the time of entry. I'm just gonna pass on it all together Reason I'm passing on it is it's a weak market and This would be getting long. I mean it could rip To the upside but I'm just not gonna take the chance being it being a is a weak market So we got out of we got one red bar out of out of square. So we're looking for one more Uh, yeah, maybe a little bit but Not gonna Look look at the volume here compared to square Look at the separation in volume There's I like to see a little clearer separation Square coming down. It should be maybe hitting that hitting my I'm hitting half here. Hopefully Try to get out of half my square here. I should be getting out of it There we go filled at 163 in square Close half So I would close the rest of my square after this bar because it's uh giving us two consecutives But in the meantime, I would get out of another square At a buck seventy five So put that in See like Microsoft's a lot of stair stepping down in volume. That just doesn't Really do anything for us future's Kind of pausing down there Halfway through this bar By do man ripping up by do Make it a some mighty 90 short. Yeah, Roku was just a little mighty 90, but beautiful mighty 90 in square built at a buck 78 Close another square. I'll be closing the rest of my mighty 90 here now that it's given me a second red bar um Now this this red this red current red bar might get it if it gets as big as the first I might leave a couple contracts on just to See if it's gonna continue to run, but you know rules for mighty 90 are to close after two consecutives Boeing looks like it wants to go higher push up a little consolidation and then That's what we would call a continuation to the upside. I on that one. We got some wide strikes With s and p all right, so So square has given me Two consecutive red bars and it's not That's not a upside or downside volume runner. So I'm gonna go ahead and Close my square Tell you what I'm gonna leave two contracts on case this thing flushes I do this sometimes It's coming down. Okay So I'm just gonna maybe scale out of here I'll go ahead and close all but two bounced up darn it I've got a order of buck 81 To get out of all but two of my contracts, but it's looking like maybe I should just get rid of all of them Because yeah, I'm trying to get out of here now. It's popping up on me build at About 76 to close square closed all of it So nice mighty 90 there Goog Yeah, I did have a little mighty 90 short, but we I missed it trying to close my square. I mean Also goog had earnings So I typically don't get in to a Stock that it has earnings You know today before What else we got By do yeah had that little mighty 90, but you know when you see in this type of price movement You know it might be a stock on a mission just kind of stay away from it So here you can see why we we get out of square after two Red buck consecutive red bars. It's trying to push back up So not a lot of good signals here today Yeah, Boeing may break out higher of this little consolidation So this would be a continuation runner for you people that are new so if Boeing comes back down and kind of sits right here kind of like this bar did You know, you could get long Thinking that you know, it's had this push. It's consolidating It's down here at the bottom of this consolidation So you get in hoping that it busts out now If it doesn't It goes against you and it breaks below the consolidation You get out of it and it just turns into a small loser. So it's a low risk Okay, you don't want to get into it up here thinking it's going to go up because If it comes back down Well, yeah, now you're already down in the trade and then it breaks through the consolidation Now you're down in an even more So you would want to get in down here somewhere towards the bottom of this consolidation And then bail on it, you know, it could be a quick trade You may get in down here and then within five minutes it pushes through and you're It could be less than a five-minute trade But that's the value of continuation runners. They could be low risk So future is starting to starting to maybe chop a little bit. I'm interested to see if the s&p Breaks through here if it starts Or if it pushes all the way back up I Give it a few more minutes here. I might enter an iron condor here shortly You see the NASDAQ starting to kind of consolidate a little bit What else we got? Yeah, tesla could be considered A continuation runner to the upside because it's had this push up It's kind of consolidating here. So same thing You know, if it comes down To right in the bottom part of this consolidation You could get long And then if it pushes down through it, you would just bail on it Yep, for sure Dow coming down through loads of day And the Dow that was once green is now red See, do you wait for a close below the consolidation range for a stopout on those or do you get rid of it? So I don't use stops like I don't use stopouts And when I'm doing this but I would just close the track if I I would open the trade down here at the bottom of this consolidation You know get filled at whatever and then you know, it could continue to chop around If it doesn't push up and then it pushes below You just you just go in and close the trade Just get out of it with with the best fill you can get See roblox You know that bar getting almost as big as the first think if we were to treat that like a mighty 90 another losing trade if we would have got in, you know You gotta you gotta you gotta be mindful that sometimes if those bars get bigger than the previous It has potential to to push Continue to push and get to to be as big as the first So bowing right now would be a good time to enter a continuation runner For the upside. So let's just do one of those So bowing Much time is left on this bar. Okay, not much time. So bowing I would trade the 205 calls filled at 395 so On this next one here if it pushes through here Then i'm bailing on it so 10 would be 4 35 I would close half at 435 Just just limit orders can Nothing nothing too fancy about what we're doing here. We're just buying puts and calls You know, sometimes I've also seen it like dip its toe down It's like dipping its toe below the consolidation and then pops right back up See how it's just it's right there, you know, so I'm just gonna keep a close eye on it You can kind of see again. This is years of watching price action I don't I don't want to get out if it's just gonna dip below it and pop right back up So I want to make sure it looks like it's gonna push through this consolidation to the downside before I close You know getting a good good. That's why getting a good fill down here is so critical See if you would if you would have got long up here Thinking it was going to go up and then it comes down. Well now you're already down, you know, maybe a couple hundred bucks You know, so some p futures kind of down right there where they've They've held. I don't know if it's gonna Push through there or not if this This becomes a losing trade like it that's not going to bother me one bit because At least you get you all have kind of seen what a losing continuation runner would be So either way you're gonna kind of see it here Looks like it's trying to push through there so we've got Still a couple minutes left. So I'm gonna go ahead and close Boeing Build at 375 Okay, so This is a good education for you guys 395 got filled out for 375 small loser But this is what a this is what a Losing continuation runner looks like right here. All right guys, I'm gonna go ahead and uh, I'm not gonna take any more of these trades So I'm gonna jump off and then start looking at entering an iron condor. So I would post that in the live chat. So I will be live tomorrow morning same time same place same strategies. So see you then peace