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Ace in the Hole - Edition #39

Ace in the Hole - Edition #39

Your Secret Weapon to Beat The Market

Jordan Lee
September 09, 2024

Happy Monday Traders!

I hope everybody had an amazing weekend.

We got a big week ahead of us, so let’s dive in.

Market Thoughts

$SPY had a decent week to the downside, down 4.14%.

Still trading above its weekly 21 EMA.

I’m personally still very bullish on this market and still think we see new all time highs in the near future.

I have been swing long through all of this and have played some intraday puts here and there.

I’ve been more into positioning myself long on these dips rather than trading the dip, but there is nothing saying you can’t be playing short-term puts on the downside.

With that said, September is usually pretty weak, so keep that in mind.

Does it being election year change that?

Potentially, we’ll have to wait and see.

Short-Term Setups This Week:

1. $PEN

$PEN Daily

I like this consolidation on $PEN after this move up from the lows.

I anticipate that this breaks out over my 200 EMA.

Any dips to that daily 21 EMA at $196.20 are great entries IMO.

Trading under that 21 EMA would invalidate my thesis.

2. $DIS

$DIS Daily

I’m interested in $DIS down here.

I want to see this fill the gap from $87.21 —> $86.54.

When that gap fills, I want to see aggressive buyers step in at that level for a higher low on the daily chart.

I would personally like to enter longs at that gap fill with my stop being a new low.

Under that low would invalidate $DIS for me.

Long-Term Setups This Week:

1. $ULTA

$ULTA Daily

I still like $ULTA down here for long-term adds.

I will continue to slowly accumulate shares down here.

TRACK ALL OF MY LONG-TERM INVESTMENTS HERE:

Savvy Trader

Savvy Trader - Discover, Create, Share and Trade Virtual Paper Portfolios

savvytrader.com/officialjordanelee/jordans-investments?s=OTkzMjoyMzA2

Earnings Calendar

Economic Calendar

These data points are known to bring volatility during the intraday:

Wednesday 8:30 EST, CPI
Thursday 8:30 EST, PPI
Thursday 8:30 EST, Initial Jobless Claims

FULL ECONOMIC CALENDAR:

Economic Calendar - Investing.com

Economic calendar: get indicators in real-time as economic events are announced and see the immediate global market impact - Including previous, forecast and actual figures.

www.investing.com/economic-calendar