A Trading System That Works...

Brian Hicks

Updated November 17, 2009

The market is beyond rigged these days… Nothing makes sense. Up is down. Black is white…

It’s terrifying… that is, unless you have a good system in place, which brings us to today’s trading idea.

Starting today, and running about three to four times a month, we want to share some of the technical secrets that we’ve spoken about and use in Options Trading Pit.

Sometimes, it’s just so easy to make money in this market… especially if you have a system that works. And if you want more “live” similar trades, we always welcome new readers to Options Trading Pit.

For starters, here are the technical set ups that we use.

Now let’s apply it.

Take a look at Wynn Resorts (WYNN) with Bollinger Bands, W%R, and candlestick overlay on a six month chart.




Notice that every time, WYNN hit the upper or lower Bollinger Band coupled with an oversold or overbought W%R read, the stock bounced.

So it was no surprise when the stock bounced from about $51 to about $70 after the stock bounced off the lower Bollinger Band, coupled with an extremely oversold W%R read and a doji reversal candlestick. It was also no shock when the stock began to sell off today. The stock ran to the upper Bollinger Band with an overbought W%R read and plunged.

And we literally have a list of 100 or more of these that we go through every day.

Here are more examples. These are plays that haven’t sold off just yet… but are expected to based on the technicals that we use. Each has a gravestone doji parked at the upper Bollinger Band with an overbought read on Williams % Range.

  • Landstar (LSTR)

  • BRE Properties (BRE)

  • Constellation Brands (STZ)

If you buy any, don’t risk the house. This is not a market that makes much sense these days.  This is just a sampling of what we look at daily for Options Trading Pit, which is accepting new readers.

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