Pumping for Profits

Featuring Dave Floyd

Dave Floyd, founder and president of Aspen Trading Group, likes buying shares of ConocoPhillips. He reviews the catalysts, technical levels to watch for and how to make the trade. Filmed on June 5, 2018.

Published on
7 June, 2018
Topic
Oil
Duration
6 minutes
Asset class
Equities
Rating
13

Comments

  • DF

    Dave F.

    16 6 2018 14:25

    0       0

    It has taken a bit of time, but COP is moving lower into my forecast Fib support zone at $63-$61. Looking to build outright longs or do it via a Call Spread

    • CW

      Christine W.

      20 6 2018 16:00

      0       0

      Still waiting for COP to drop into technical support zone. Are you still expecting that pull back?

  • MT

    Mike T.

    9 6 2018 07:44

    1       0

    anybody that can find opportunity and make money consistently using technical analysis, and David is one of the best, I bow in admiration, but heck it can be so much easier to make a few shackles using options e.g.
    * 1SD Short (for a Credit) Strangle in July20 Cycle has small (Delta 4) bullish bias & brings in nearly $4 per day in Theta decay.
    * Max Profit for basic 1 lot $136
    * Probability of Profit 68%
    * look to exit at 50% Profit point (probability 85%).
    * @ no later than 20 days prior to Expiration if position is working Roll to August cycle, alternatively close out at 20 DTE
    * rinse and repeat

    • DF

      Dave F.

      9 6 2018 23:19

      3       0

      Mike - thanks for the kind words....appreciated. You are correct, options can and often do offer up a better way to express a trade. However, not everyone 'gets' them and the goal of these videos is the rationale of why to make the trade. At some point in the not too distant future, there will be some educational videos that take a deep dive not only on the analysis but even the basics of placing a trade all the way to trading options. Have a great weekend.

    • CH

      Chris H.

      12 6 2018 17:03

      0       0

      Thank you for putting this option strategy out here, although I am not comfortable with the unlimited risk involved (in both directions). But I guess the strategies that work are much more likely to make you feel uncomfortable than comfortable.

  • MM

    M. M.

    8 6 2018 17:32

    1       0

    Looks a bit like a Head and Shoulder in the make. But thats probably not in Elliot´s textbook :-) We'll see.

    • DF

      Dave F.

      9 6 2018 23:30

      1       0

      MM.....thanks for the comment. While I am not an 'expert' on H&S patterns, and assuming you are looking at a daily chart, that would not be a H&S as the 'right shoulder' is too high relative to the 'left shoulder'. The challenge with pattern recognition (solely) is that it fails to factor in other key inputs that are often at odds with the pattern. Bottom line: none of us will ever have 100% certainty of how things play out, like in chess, therefore you get as much lined up as possible and let it rip.

  • DM

    Dan M.

    8 6 2018 04:05

    0       0

    Don't think it is going that low anytime soon.

  • DM

    Dan M.

    8 6 2018 04:01

    5       0

    Thx for getting rid of the blasting music: Short, sweet, quickly to the meat.