Live: Monday, Sept. 25, 2017

9/25 – 3:30 p.m. New York time

I exited ORCL for a loss and placed no other trades.

I had said I would take a look at gold as a potential directional trade. Of the three vehicles for trading gold, only GLD has implied volatility high enough to meet my criteria for the sort of trading I do. The two mining funds, GDX and GDXJ, have low IV.

In Elliott wave terms, GLD peaked Sept. 7 in the apparent counter-trend rally from the decline that began in June 2016 and ended in December 2016.

Today’s movement was an upwave within the downwave of a greater magnitude, and i shall consider jumping in with a bearish direction trade one that short-term reversal ends and the downtrend resumes.

9/25 – 1:50 p.m. New York time

I have updated the  ORCL analysis with results.

9/25 – 9:30 a.m. New York time

I exited ORCL for a loss as its expiration week began and shall update its analysis with results later today.

9/24 – 3 p.m. New York time

I have no earnings plays as prospects on my desk for Monday. I plan to take a look at gold surrogates: GLD, GDX and GDXJ as potential directional trades.

By Tim Bovee, Portland, Oregon, Sept. 24-25, 2017


Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

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