Trade of the Week
Tech Leader with Relative Strength Reversal for Quick Trade
Google (GOOGL) shares of the tech leader actually closed green on the week last week and showed relative strength in the Mag7 group after early week softness was bought. GOOGL held firm late in the weke and never breached below its early week lows by Thursday and...
ETF Sector Corner: Midstream Energy ETF with Stable Appreciation and Yields
Global X MLP & Energy Infrastructure ETF (MLPX)- This ETF tracks an index of MLPs and companies engaged in energy infrastructure. The fund intends to hold at least 20 US-listed midstream energy infrastructure MLPs and corporations. Since MLPX must be RIC...
Bull Put Spreads in Beaten up Technology Leader at Value Area Support
Microsoft (MSFT) has been sold down to under 400 and matching a retest of the August lows near 385 which also lines up perfectly with the anchored value area low from the late 2023 lows. An oversold level with large, short puts in open interest for March and April...
Financial Leader Ready to Run off Support for Weekly Option Play
JP Morgan (JPM) shares of the banking giant are setting up a rebound from the rising 55 day MA as financials saw relative strength the past few days and JPM can easily run back up to 275 which is a key monthly VPOC on the profile. This weeks expected move in the...
ETF Sector Corner: Utilities Set to Outperform into Strong Seasonal Month
Utilities Select Sector SPDR Fund (XLU)- This ETF is one of the most popular options for investors looking to gain exposure to the U.S. utilities sector, a corner of the domestic stock market known for relatively low volatility and relatively high distribution yields....
Bull Put Spreads in Oversold Asset Manager with Short Puts in OI
Blackstone (BX) has been sold down to the 200 day EMA recently as financial names see a healthy correction back to support and last week initially bounced from the 158 level where it filled a gap from October and risk reward now skews positive with several opening put...
Quick Weekly Option Trade in Fast Food Leader with Bull Flag
McDonalds (MCD) shares of the fast food name are forming a solid bull flag after a strong earnings report this month and saw most of that gap filled last week before a bounce right off the 21 EMA support level and closed Friday near highs in the green with markets...
ETF Sector Corner: Home Building Group Oversold as Rates Peak into Seasonal Window
SPDR S&P Homebuilders ETF (XHB)- This ETF is focused on the U.S. homebuilding industry, and as such offers exposure to a corner of the domestic economy that tends to be cyclical in nature. In addition to pure play homebuilders, this fund includes companies related...
Bull Put Spreads in Oversold Clothing Retailer Back at Support
Abercrombie (ANF) has been beaten down the past month by 30% after guidance showed slowing growth for Q4 but still expects to finish FY25 with a 15% improvement to its top line yr/yr. The stock is now trying to rebound from key support in the 105 range with an...
Ecommerce Giant Setting up Quick Rebound Trade from Support
Amazon (AMZN) shares of the ecommerce giant are forming a narrow bull flag post earnings the past week after coming back to key support just under 230 and continuing to hold up well above the rising 55 day MA now catching up to price action near 225 and setting up...