Weekend Wrap Up for 04/07/2024

You are receiving this email because you signed up to receive Investment House's free e-letter Investment House Wrap Up, or you purchased a product or service from its publisher, Eagle Financial Publications. [Investment House Wrap Up] [IH Daily]( [Technical Traders Alert]( [Rapid Profits Stock Trader]( [About Jon]( In This Issue: - Market Summary - Targets Hit - Covered Call Options Play Weekend Wrap Up for 04/07/2024 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Rapid Profits Stock Trader]( [1pxtrans]( Sponsored Content [Elon Musk's "A.I. Day" Announcement Will Open a Brief Wealth Window]( Elon Musk has cracked open a radical wealth building opportunity set to create a slew of new millionaires... This narrow window will close when Elon holds his upcoming "A.I. Day." We're now on the final stretch before Elon's new project becomes mainstream to the public. A Silicon Valley insider has revealed everything you need to know about this wealth window before it shuts. [Click here now to discover how to profit before the huge public announcement]( 1. Market Summary [Jon Johnson] - After a pullback stocks shoot higher -- then are slammed in a large reversal - Recent leaders lag early, close lower, but by the close look quite good compared to the non-commodities stocks - Tuesday gap lower was the selling of another new high, and Thursday was a downside follow-through reversal - Wars and rumors of wars quell the market upside - How the Bureau of Labor Statistics' (BLS) jobless claims reports are not laughed off the financial stations should be puzzling, but they are not because deviation from the company line is not allowed - Anticipating a jobless report likely as bogus as the initial claims, but will that be good news or bad news? Stocks started higher after the downside sessions with futures solidly positive with triple-digit-percentage gains on DJ30 and Nasdaq. Sharply higher gaps were monkey hammered by the sellers. Once again, a break higher was sold. Tuesday, new highs were trashed as the indices gapped lower -- reach a new high, the sellers dump it. On Thursday, a solid gap higher was trashed in the most massive reversal since March 8, this one smashing near support and even the 50-day moving average (MAs) for some indices.  Similar selling has occurred off other higher highs. This rally, and the large-caps helping lead it, were remarkably resilient to these selloffs of higher highs. When this repeatedly occurs, however, the foundation of the rally erodes and it typically breaks. Perhaps the Thursday upside gap and sharp reversal is the move. Then again, there are still jobs due Friday morning, and the BLS may try to pull a rescue maneuver, e.g. suddenly lower jobs forcing the Fed to alter its course (allegedly). In an election year? Risky. NOTE: The figures and facts above are from the 4/4 report. MARKET VIDEOS [Click here to watch them!]( NOTE: The videos are from the 4/3 report. [If Investors Think the Stock Market is Unpredictable, Think Again]( Believe it or not, there’s a way to know what direction a stock is poised to go over a period of time… I’m talking about a technical trading technique that lets investors know whether a stock is going up…or whether it’s going down – within a rough time frame. I personally use this technique to consistently make profitable trades… And I’ve put together a short presentation with details on how investors can start taking advantage of this technique alongside me. [Click this link to view the presentation.]( 2. Targets Hit Investment House Daily: Another volatile week as stocks were again sold as the indices hit new highs. A sharp gap lower Tuesday followed by the Thursday upside gap and big reversal -- sellers remain lurking, but thus far have not taken down the indices. Indeed, the market is showing healthy action: as the techs and semiconductors struggle some, the commodities-related areas performed.  A market showing rotation among sectors without major selloffs is a healthy one. Now, these sharp selloffs when the market moves higher are not good -- it shows some big money liquidating positions. Thus far, however, it has not resulted in trend breaks for the indices, and, as has been the case with this market, the dips are bought. Thus, we used this action to accumulate good positions in the new leading groups, e.g. oil and gas, precious metals, materials, etc., and enjoyed banking some gains in them -- along with some tech gains as well. Alcoa Corp. (NYSE: AA): 87.89% gain in the options Coeur Mining Inc. (NYSE: CDE): 34.35% gain in the stock Seabridge Gold Inc. (NYSE: SA): 18.17% gain in the stock Semtech Corp. (NASDAQ: SMTC): 32.02% gain in the stock [Receive a risk-free trial to Investment House Daily and save 50% by clicking here now!]( Technical Trader: We love playing the techs, but we also love playing any sector that is showing great technical setups that makes us money. Spotting rotation to new areas is always a key to making money, and that is what we have done in this market transition, rotation or rest period for big tech. Thus, this past week we banked some gains in those newer leading areas. Chesapeake Energy Corp. (NASDAQ: CHK): 52.75% gain in the options United States Oil Fund LP (NYSEARCA: USO): 65.60% gain in the options [Receive a risk-free trial to Technical Trader and save 50% by clicking here now!]( Rapid Profits Stock Trader: A very cool aspect of the recent transitions in the market from the Mag Seven-type stocks (or are they just resting ... ?) is the rise of stocks that trended lower, moved laterally very quietly and were basically forgotten. The started "turning the corner" to the upside as I like to say, and as they made breaks through key resistance levels we were moving in. The mining stocks rode the move in gold to new highs. Not new highs for them -- they were quite beaten down, but the prices at suppressed levels lead to large gains in the stock as they make that turn and sprint higher. We caught several of these on their moves and banked some nice gains. Very cool indeed. First Majestic Silver Corp. (NYSE: AG): 14.99% gain in the stock Coeur Mining Inc. (NYSE: CDE): 35.65% gain in the stock Hecla Mining Company (NYSE: HL): 10.58% gain in the stock Harmony Gold Mining Company Ltd. (NYSE: HMY): 10.5% gain in the stock Seabridge Gold Inc. (NYSE: SA): 18.39% gain in the stock [Receive a risk-free trial to Rapid Profits Stock Trader and save 50% by clicking here now!]( [Step by Step Guide to Revolutionize Your Options Trading]( Would you like a step-by-step guide to walk you through how to maximize your Options strategies? Best of all, anybody can learn how to do it. All you need is about 1 hour to learn how you can execute this simple strategy. [Do NOT miss this opportunity to revolutionize your Options trading.]( 3. Covered Call Options Play Travelzoo Inc. (NASDAQ: TZOO) -- Travelzoo Inc. is currently trading at $9.81. The May 19 $10 calls (TZOO20240517C00010000) are currently trading at $0.80. That provides a return of about 15% if TZOO is above $10 by the expiration. [Learn more about our Covered Call Tables here!]( About Investment House: [Investment House]( Since 1999! Our investment newsletters are designed to reduce your research time and help you invest and trade profitably. Our strategies range in risk from rather conservative covered call writing, trading blue chip stocks, all the way to speculating with options to get quick triple-digit gains. Get to know Investment House with these premium investment services: [Investment House Daily]( [Technical Traders Alert]( [Rapid Profits Stock Trader]( [Stock of the Week]( About Us: Eagle Financial Publications is located in Washington, D.C. – only a few blocks from the Capitol. Our products have been helping investors build their wealth for several decades. Whether you’re a long-term investor or short-term trader, you’ll find the right strategy for you, including how to earn more steady income to spend now, preserve and grow your capital to enjoy later, and whatever other investment goals you have. 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