Tradesight is pleased to announce that our ETF report will now include a “Spotlight Play of the Week.” This call, given somewhere between Monday and Wednesday typically, will be denoted in the Messenger with SPotW in the title.
The ETF report and service is designed for less active traders who want to take a broader approach to the markets via the indices, which are typically less volatile than stocks themselves. It is simply a matter of placing stop entry trades and then raising your stop loss while waiting for the ETF to head toward various targets. The ETF calls are not typically designed as something that needs to be monitored on a moment-by-moment basis. Rich and I have been working on several ETF-specific setups that we think are going to be very useful for those that want to take a wider approach to the indices. For example, this last week, you may have seen a couple of key Value Area calls on the SPY that worked. In addition, Rich has been honing a set of indicators that combine for a certain type of entry.
Obviously, we can’t predict which of these types of plays will set up each week, but we do expect to find at least one in the first half of the week. So, using calls like that, we will make one Spotlight call each week. This is a call that we believe is as well set up as it can be. There will be an entry and stop established clearly up front. We believe that these calls are as high-probability as we can find in the market. The goal of these calls is to give everyone a very specific play to focus on, as the ETF calls can vary greatly in setup. They could take more than one day to play out, but we want them closed by the weekend, which is why the entry/setup will be called between Monday and Wednesday.
All ETF calls are now being made in the Messenger throughout the session (and before the open). The Sunday reports are used to analyze the market and review the calls that triggered during the prior week.
Our feeling is that the Spotlight call each week will be something that by itself makes the ETF service worth your time and money.
Chris Mercer