Weekend Wrap Up for 05/19/2024

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 05/19/2024 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Rapid Profits Stock Trader]( [1pxtrans]( Sponsored Content [How to Turn Election Uncertainty into Opportunity]( Amidst election year uncertainties 'America's Top Trader', Eric Fry thrives in the unknown. With over 41 1,000% winners to date, he presents 7 Stocks to Buy and Hold Forever starting at just $30 a share. Dive into this FREE report revealing AI-powered companies poised for long-term growth. Get the full backstory and ticker names today. [Click to claim your FREE copy now.]( 1. Market Summary [Jon Johnson] - More anemic data adds to the interest rate cut case, but after an early bounce, stocks backtrack to test the breaks to new highs - Dog catches car: DJ30 touches 40,000, fades - Import prices rocket higher, but the weaker data helps Chairman Powell build his case for pre-election interest rate cuts - Even as indices backfill to test the breaks to new highs, stocks from several sectors are set to break higher after testing their last move higher After new highs for the large cap indices, a bit of backfilling. The futures struggled post-data but still managed to rally into mid-morning, adding higher highs. Could not hold on, however, and slipped lower to the close. Downside close, but nothing out of hand though perhaps S&P 400 saw a bit more selling than you want to see as it fell away from the late March prior all-time high. NOTE: The figures and facts above are from the 5/16 report. MARKET VIDEOS [Click here to watch!]( NOTE: The videos are from the 5/15 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: Morgan Stanley (NYSE: MS): Sometimes just sticking with the old ways works. You would think that with all the money they receive, the financial stocks would be up 10x. Nope. When you bail out sectors you entrench bad habits, unprofitable models -- pretty much everything that caused the need for a bailout remains. Thus, financials have been less than great performers. That said, the old guard has proved profitable still. In this Fed-led market, however, you have to be willing to ride through some of the dips to get there. As long as the pattern remains solid, you can let it work -- kind of like Chance the Gardener in the movie "Being There" would say: "As long as the roots are not severed, all is well in the garden and growth will return in the spring." Something like that. We saw MS set up very nicely January to March. A nice cup pattern, a handle, then a breakout. It was an easy entry and we sent the alert to buy June $92.50 calls asking $4.75 with the stock trading at $93.10. MS broke out then started the steady climb up the 10-day exponential moving average (EMA) as it does when it makes these breakouts. Then the dip came just before mid-April. The market sold as well, but MS limited its move to just three days. It sold, found support, rebounded. It took another couple of weeks to edge higher and consolidate, then this month MS has resumed the steady rise up the 10-day EMA, touching the initial target near $100 this past week. A stock that hits this $90 range will, if the roots are not severed, rally on up to $100. Kind of like moth to the flame. That is the move we are playing, so when MS hit the target on May 14, we issued the alert to sell half the position with the options bidding $8.40 -- a solid 76+% gain. Now we see if MS can break on through $100 for another leg before we sell again. [Receive a risk-free trial to Investment House Daily and save 50% by clicking here now!]( Technical Trader: ZIM Integrated Shipping Services Ltd. (NYSE: ZIM): With the issues in shipping, it was only a matter of time before shippers themselves made moves. While reports on the attacks on merchant vessels has been apparently banned from the news, that does not mean they are not happening. It is not good press in the United States to acknowledge that the highly touted Operation Prosperity Guardian failed, forcing the rerouting of ships around Africa and other longer routes. Not only does it take longer to get the goods to their destination, but more ships are needed due to the longer periods of time on the seas -- there is no more "just in time" inventory management when your shipping time triples or quadruples. Costs as well. Thus, shippers were going to rise. Thus, we looked for good patterns in the sector. ZIM looked dandy (ZIM dandy?). The stock formed an inverted head and shoulders from the start of February to late April. ZIM broke higher late April, then tested in early May. When ZIM started back up from the breakout test, that was our signal to enter as the resumption of a move after the initial breakout test is one of our favorite entry points due to its high success rate. We issued the alert to enter with July $12.50 strike call options trading at $2.05 as ZIM traded at $13.50. ZIM was testing the 10-day EMA then started upside slowly for three sessions then took off. ZIM hit the initial target May 10, eight sessions into the play. We issued the alert to sell half the options bidding $4.85 and a solid 136+% gain. The next Monday, ZIM continued higher, but then started to stall just below $20, a consolidation level from 2023. We issued a second alert to sell another half of the position with the options trading $6.45 on the bid, a 214% gain. We are letting ZIM consolidate just below $20 in a narrow range, waiting on the 10-day EMA to catch up and catalyze the next upside move. We will let the rest of the position run, and we will look for a new position as ZIM makes that next break higher. [Receive a risk-free trial to Technical Trader and save 50% by clicking here now!]( Rapid Profits Stock Trader: Heavy metal has been one of the keys to this market. Not Metallica, Iron Maiden, etc., just silver and gold. You could throw copper and lead in there as well. During a panel discussion in 2023, I commented gold was trading differently than it had in its trading range. I was roundly chided, told that gold would break down again once it got back to 2,000/ounce. Well, just because it has done so many times before does not mean change will come. It always does; ranges break down ... or up. Gold was acting as if it was going higher. It did. Same with silver. Recently, I noticed silver started trading differently in its range the same as gold. I said silver looked to be ready to break out. It now has. The point: when we saw these metals start to trade differently, we bought more of the base metals for sure, but we also started buying positions in the miners. We have done so since late 2022, playing them again and again. Now the metals are breaking to new highs and these stocks are surging -- even after they have already made us great money on their moves to this point. So, we keep looking for setups and playing the setups, all the while keeping some of the positions for long term, just letting them ride higher. We have longer term positions on McEwen Mining Inc., Harmony, etc., but we also play the shorter term moves as well. This week, when silver broke higher, the miners did as well and we banked some nice gains. First Majestic Silver Corp. (NYSE: AG): 11.8% gain in the stock in a week. Avino Silver & Gold Mines Ltd. (NYSEAMERICAN: ASM): 15.8% gain in the stock in a week. Hecla Mining Company (NYSE: HL): 11.68% gain in the stock in a week. We still have half the position running on these as they look ready to add more gains. We are also letting positions in other mining stocks continue to work higher after previously banking some gain, e.g. Coeur Mining Inc. We let them work, take some gain, and let them work more. [Receive a risk-free trial to Rapid Profits Stock Trader and save 50% by clicking here now!]( [May’s Market Mayhem: Outsmart Volatility with A.I.]( Ever feel like you are missing potential gains just because a stock is not on your radar? [Look what's to find]( when you let artificial intelligence do all the heavy lifting. Want to spend more time with your family, and less time trading? Burning out trying to keep up with the true pulse of the markets? I am hosting a 1 hour, 100% complimentary Live Training: [May’s Market Mayhem: Outsmart Volatility with A.I.]( We have even had some attendees say our online class is better than some paid courses they have bought. [Save your seat.]( 3. Covered Call Options Play Gigacloud Tech. (NASDAQ: GCT) -- Gigacloud Tech is currently trading at $34.87. The June 21 $35 calls (GCT20240621C00035000) are currently trading at $3.90. That provides a return of about 13% if GCT is above $35 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. 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