Issues
Ahead of the long holiday weekend the market had yet another good week. The S&P 500 gained 1.75%, the Dow rallied 1.5%, and the Nasdaq rose another 1.9%.
This week in an attempt to diversify the portfolio we are adding an energy play.
This week in an attempt to diversify the portfolio we are adding an energy play.
Ahead of the long holiday weekend the market had yet another good week. The S&P 500 gained 1.75%, the Dow rallied 1.5%, and the Nasdaq rose another 1.9%.
This week in an attempt to diversify the portfolio we are adding an energy play.
This week in an attempt to diversify the portfolio we are adding an energy play.
Ahead of the long holiday weekend the market had yet another good week. The S&P 500 gained 1.75%, the Dow rallied 1.5%, and the Nasdaq rose another 1.9%.
This week in an attempt to diversify the portfolio we are adding an energy play.
This week in an attempt to diversify the portfolio we are adding an energy play.
Ahead of the long holiday weekend the market had yet another good week. The S&P 500 gained 1.75%, the Dow rallied 1.5%, and the Nasdaq rose another 1.9%.
This week in an attempt to diversify the portfolio we are adding an energy play.
This week in an attempt to diversify the portfolio we are adding an energy play.
Ahead of the long holiday weekend the market had yet another good week. The S&P 500 gained 1.75%, the Dow rallied 1.5%, and the Nasdaq rose another 1.9%.
This week in an attempt to diversify the portfolio we are adding an energy play.
This week in an attempt to diversify the portfolio we are adding an energy play.
Ahead of the long holiday weekend the market had yet another good week. The S&P 500 gained 1.75%, the Dow rallied 1.5%, and the Nasdaq rose another 1.9%.
This week in an attempt to diversify the portfolio we are adding an energy play.
This week in an attempt to diversify the portfolio we are adding an energy play.
Ahead of the long holiday weekend the market had yet another good week. The S&P 500 gained 1.75%, the Dow rallied 1.5%, and the Nasdaq rose another 1.9%.
This week in an attempt to diversify the portfolio we are adding an energy play.
This week in an attempt to diversify the portfolio we are adding an energy play.
Ahead of the long holiday weekend the market had yet another good week. The S&P 500 gained 1.75%, the Dow rallied 1.5%, and the Nasdaq rose another 1.9%.
This week in an attempt to diversify the portfolio we are adding an energy play.
This week in an attempt to diversify the portfolio we are adding an energy play.
The market’s steady advance came to a halt last week, though given the recent run higher, the losses felt “normal.” For the week the S&P 500 fell 1.4%, the Dow lost 1.67%, and the Nasdaq declined by 1.45%.
The good times for the bulls continued as the S&P 500 rose for a fifth consecutive week, its longest such streak since November 2021, and it was also the best week for the S&P 500 since March.
Ahead of a big week for the market, the S&P 500, Dow and Nasdaq all rose marginally last week.
For the first time in weeks, and maybe even months, the market’s advance felt broader as more and more stocks participated in the market rally. That, as well as the VIX getting clobbered, has me encouraged … for now.
Alerts
Today is the expiration of October options and three of our positions will likely expire for profits. The details are below, but the headline is we are simply going to let these situations play themselves out today, and then will revisit where we stand Monday/Tuesday of next week.
The market is having another ugly day, and two of our stocks (SONO and TX) that recently broke our mental stops have not shaped up post-quarter-end last Thursday.
Today is the expiration of September options and three of our positions will likely expire for full profits, and one will likely be a small loss or gain come Monday. Overall, it’s been another great month for us.
Today is the expiration of five of our covered call positions, and I’m not going to sugar coat it, it was a choppy month for the market, and our trades. Importantly, we are going to exit several positions today.
Today I want to address our BBWI and VSCO stock holdings, as well as the BBWI1 option from the LB spin-off.
On Friday our MRO and SGMS call positions expired worthless, leaving us with only our stock positions. And while I debated selling new calls to lower our cost basis, the market is weak, and these stocks have fallen below our initial stop levels.
Investors are being challenged with some of the strangest stretches in market history. On the surface, the market looks to be in great position. Stock indexes are hitting or are near record highs, but there is a lot of commotion below the surface. As it stands, roughly 40% of all stocks within the S&P 500 are below their 200-day moving average, which typically indicates bear market action. However, technology has been incredibly strong, especially the mega-cap stocks like AAPL, MSFT, AMZN, etc. And 40% of the S&P 500 is comprised of technology stocks, hence the current 17.6% return in 2021.
Shortly after I sent this week’s Profit Booster idea to execute a covered call on Scientific Games (SGMS), the stock rallied $1, and I missed my buy price. I am going to raise my net price to 72, so that we can get into the trade.
The market got hit hard on Friday, which sent three of our stocks (FNKO, IGT, RRC) below their strike prices on expiration Friday.
Following testimony from the Federal Reserve Chairmen on Wednesday there has been wild rotation in the markets, which has impacted some of our positions expiring today.
The expiration of our May covered calls is this Friday, and several of our positions are trading below the strike price of our covered call options (CLF, LEVI, HOG), though it’s a close call, and a totally fine situation.