Rocket Equities & Options Report 11-23-20
Monday Report
Markets are higher this morning on more potential good vaccine news from Astro Zenica. Markets are closed Thursday for Thanksgiving and then a 1/2 day on Friday.
We had some nice options trades last week in HD and WMT, with a breakeven or better in KSS.
We have the S&P and NQ markets making large consolidations on a daily basis, with both markets right near the upper bound, and we have the Dow and Russell 2K both in solid uptrends.
All our equities continue to trade well. We've had quite a recent run higher in Disney and Uber. Disney is still within a solid uptrend channel as it approaches the upper bound. McDonald's is also in a nice uptrend, where as it sits near the lower bound line of its channel. Uber has accelerated above its area of consolidation. Even a natural .382 retracement of just the run higher Uber has had this month could take it back to about $44 and that would be fine.
We have a big day of earnings tomorrow:
Tuesday pre-market: Best Buy (BBY), Dollar Tree (DLTR), Dick's Sporting Goods (DKS), Burlington (BURL), Medtronic (MDT), Hormel (HRL), J.M. Smucker (SJM), Analog Devices (ADI).
Tuesday after-market: Dell Technologies (DELL), VMWare (VNM), Nordstrom (JWN), American Eagle (AEO), Gap (GPS)
Gold is trading right above its .382 retracement of its entire move from the March lows to its recent all time highs. This may be a nice point to add some gold to our long term portfolio and we are keeping our eye on that market and some of the equities.
Stay tuned for an update between about 2-3pm ET this afternoon as we scan the market for potential options or equity plays.
Options Trades:
Sold a $285 - $287.50 HD call spread for a $0.47 credit last week, which expired for a max $0.47 or 23.15% profit. HD is trading at $273.34.
Sold a $147 - $146 WMT put spread for a $0.22 credit last week, which expired for a max $0.22 or 28.21% profit. WMT is trading at $150.66.
Short Term portfolio:
None
Long Term portfolio:
Long half position in DIS at $118.63. Disney is trading at $143.84. Stop is $98.45.
Long half position in UBER at $31.50. Uber is trading at $49.10. Stop is $26.24.
Long half position in MCD at $216.91. MCD is trading at $215.80. Stop is $189.50.
We had some nice options trades last week in HD and WMT, with a breakeven or better in KSS.
We have the S&P and NQ markets making large consolidations on a daily basis, with both markets right near the upper bound, and we have the Dow and Russell 2K both in solid uptrends.
All our equities continue to trade well. We've had quite a recent run higher in Disney and Uber. Disney is still within a solid uptrend channel as it approaches the upper bound. McDonald's is also in a nice uptrend, where as it sits near the lower bound line of its channel. Uber has accelerated above its area of consolidation. Even a natural .382 retracement of just the run higher Uber has had this month could take it back to about $44 and that would be fine.
We have a big day of earnings tomorrow:
Tuesday pre-market: Best Buy (BBY), Dollar Tree (DLTR), Dick's Sporting Goods (DKS), Burlington (BURL), Medtronic (MDT), Hormel (HRL), J.M. Smucker (SJM), Analog Devices (ADI).
Tuesday after-market: Dell Technologies (DELL), VMWare (VNM), Nordstrom (JWN), American Eagle (AEO), Gap (GPS)
Gold is trading right above its .382 retracement of its entire move from the March lows to its recent all time highs. This may be a nice point to add some gold to our long term portfolio and we are keeping our eye on that market and some of the equities.
Stay tuned for an update between about 2-3pm ET this afternoon as we scan the market for potential options or equity plays.
Options Trades:
Sold a $285 - $287.50 HD call spread for a $0.47 credit last week, which expired for a max $0.47 or 23.15% profit. HD is trading at $273.34.
Sold a $147 - $146 WMT put spread for a $0.22 credit last week, which expired for a max $0.22 or 28.21% profit. WMT is trading at $150.66.
Short Term portfolio:
None
Long Term portfolio:
Long half position in DIS at $118.63. Disney is trading at $143.84. Stop is $98.45.
Long half position in UBER at $31.50. Uber is trading at $49.10. Stop is $26.24.
Long half position in MCD at $216.91. MCD is trading at $215.80. Stop is $189.50.
Timer Digest Signals: S&P: Bearish Gold: Bullish Bonds: Bullish
Stay tuned for updates later today and throughout the week!
Stay tuned for updates later today and throughout the week!
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