Today was a bit rough for tech. That sucks for people who are already leveraged in, but it's great for us since we now have a lot of names on our list looking to buy the dip. Below you will see a lot of names from our mean reversion setup. I am looking forward to more downside tomorrow.
FOMC on Wed is all the market cares about. They are pricing in a 25 bps cut so anything other then that would be a huge market shock.
How to place it: enter a BUY LIMIT for WDC at $402.67, sized at about 5% of your account, good for the day only - if it never fills, it cancels itself and there is no trade. Do NOT rest a stop order for this one - the $335.28 line only counts on a CLOSE beneath it (an intraday dip through it is normal and is not an exit). The sheet checks it every night and the alert bot calls it if it triggers. Sell at the NEXT MORNING'S OPEN - one of three things always ends this trade: (1) a CLOSE above the prior day's high - the bounce arrived (the level rolls forward each day); (2) a CLOSE beneath the protective stop printed on this card; (3) neither happens and the calendar ends it - sell at the open on Monday, September 28. For the calendar leg, set a dated market-on-open sell for that date.
