Shooter’s Primary Wave Set-ups

These are my Elliott Wave set-ups for Plug & Play Stocks, Broader VSL and Global Trends ETFs, as well as, several that I am trading or investing in. Each week, I’ll cover 5-10 set-ups that catch my eye as higher potential and/or higher certainty. We’re using the intermediate term weekly charts as our primary guide, but have to mind the other time frames for clues too.

Elliott Wave is not perfect, nor is the operator, and neither is my Primary Wave Set-up. However, from a targeting perspective, I have found it to be an excellent tool. Even when I miss, I learn a lot and can adjust. I encourage you to think that way. Think in probabilities, not certainties. And, remember, mind your asset allocation by scaling in a piece at a time.

FOMC week!

My2Cents

We have a few additions this week that are candidates for additional positions. I’m still not sold the bottom is in yet these set-ups should be viable if we take deep enough puts.

Plug & Play Stocks

Uber Technologies Inc (UBER) Primary Wave Set-up that back-tested the floor. Wave 2 has a new 90-minute trigger, so 1/2 position size now. The next target is $27.01. Earnings on 11/01. Option Scan

Warner Bros. Discovery Inc (WBD) Primary Wave Set-up with a Daily-trigger, so a 1/2 position size now. The next target is $15.27. Earnings 11/03 Option Scan

Warner Bros. Discovery Inc (WBD) (Updated 10/30/2022)

Freeport-McMoRan Copper & Gold Inc (FCX) Option Scan

Freeport-McMoRan Copper & Gold Inc. (Updated 10/30/2022)

Ford Motor Company (F) Option Scan

Vici Pptys Inc (VICI) Option Scan

Vici Pptys Inc (Updated 10/30/2022)

Digital Realty Trust Inc (DLR) Option Scan

Digital Realty Trust Inc (Updated 10/30/2022)

Broader VSL

Home Depot (HD) sold a NOV $250 put for $4.15+. Primary Wave Set-up with a Daily-trigger, so a 1/2 position size now. The next target is $302.83. Earnings on 11/15. Option Scan

Home Depo (Updated 10/30/2022)

Disney (DIS) is a great example of how a percentage of Primary Wave Setups like to back-test the floor before they continue to hit the target. As a result, I always tighten up my stops once we’ve pushed above 23.6% fib to be sure and lock in gains and plan to scale back in. Earnings on 11/08.

DIS sold a Nov $85 put for $2.00+. Primary Wave Set-up with a weekly trigger and a secondary Primary Wave Set-up as the back-test. Lower the 1st target this week to $109.06. Option Scan

Walt Disney Company (Updated 10/30/2022)

Netflix (NFLX) sold a Dec. $250 put for $5.40+ / Sold a Dec $230 put for $3.35. It looks awesome, but it is getting a bit overbought. The target suggests maybe $295 and then we should get a decent back-test. It’s up to you and your risk management whether or not you hold the $230 to expiration. Option Scan

Netflix, Inc. (Updated 10/30/2022)

Global Trends ETF

SPDR Select Energy (XLE) Option Scan

Energy Select Sector ETF (Update 10/30/2022)

My Shots

iShares Biotechnology ETF (IBB) sold a Dec $110 put for $3.40+. 5 x 5! A Primary Wave Set-up with a Daily-Trigger, with a weekly trigger and a secondary Primary Wave Set-up as the back-test. As a result, a 1/2 position size. The first target is $127.15. Option Scan

IShares Biotechnology ETF (Update 10/30/2022)

TWLO sold a Nov. $60 put for $4.00+, A Primary Wave Set-up with a Daily-trigger, so a 1/2 position size. The first target is $127.15. Earnings on 11/3. Option Scan

Twilio Inc (Updated 10/30/2022)

Tracking Recent Trades

Shooter’s Risk Disclosure & Performance Disclaimer Statement

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