"All right, get a blowtorch"

One Lee Iacocca story I know:

He was inspecting the factory floor one day after taking leadership of Chrysler. One of the workers told him that a certain model of car they were working on would look good as a convertible.

Most executives would either ignore that comment or (more likely) put together a committee to run tests and focus groups around that idea. They’d probably take months to come to any conclusion.

But Iacocca worked much faster and in a more practical way.

“All right, get a blowtorch, cut off the roof, and let’s drive around and see if anyone checks us out.”

So... 

They got a blowtorch, cut off the roof, drove around the local college, and saw if any girls checked out the “cool new convertible.”

They did, thus, all the market research he needed to make it happen.

Sometimes the quicker way is the best way.

All right, let’s talk about today’s news...

Yahoo Finance

Why it matters …

Ah, the ebb and flow of the market … Friday’s green, green, green followed by a red opening on Monday. This is pretty normal. People take profits, then reinvest. Actually, red Mondays are great for my trading system … more premium on lower strike prices after some options expire on Friday leaving me some “dry powder” to invest.

The article warns that folks will be watching what happens to NVDA stock as the earnings report will move the market (at least for a few hours). My system avoids earnings as you all know. Yes, there is a lot of premium, but the risk is too unpredictable … slow and steady builds lots of premium (sometimes the slow way is the best way).

Comments: Red opening as mentioned above. Bitcoin is down over $5k near the bottom Bollenger Band. There might be some support here, but if not, the next major support level is around $106k (100-day SMA). Many BTC related stocks track the index closely so keep an eye on “/BTC”. 

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I’ve got a couple trade ideas to share for the Premium subscribers averaging 1.64% return on risk.