Weekend Wrap Up for 06/09/2024

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 06/09/2024 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Rapid Profits Stock Trader]( [1pxtrans]( Sponsored Content [Free presentation on how to trade options for overnight gains]( I just closed a trade in 1 day for 200% gains on ANF in May. The trade cost just $50 to put on and we were in and out in less than 24 hours. You can get access, for a limited time, to a free, 30-minute training on exactly how I pulled this off. You'll be able to start landing these overnight wins yourself. You don't need any experience as an options trader. The trades are easy to buy and sell. [Get the free overnight options training here.]( 1. Market Summary [Jon Johnson] - Leading indices pause with a doji ahead of jobs report - European Central Bank follows Canada, cuts interest rates when it likely should not have cut interest rates - Jobless claims rise a bit, productivity slides - Doji ahead of jobs makes sense, most likely a continuation doji that yields to more upside After the Wednesday breakouts to new large cap index highs (sans DJ30), a bit of a pause. Okay, how about a doji pause by S&P 500, Nasdaq, Nasdaq-100, PHLX Semiconductor Sector (SOX). Yes, ahead of the Friday jobs report the market popped a flat. Not that surprising as that is the next potential Fed-mover. Of course, the market is dominated by the Fed and anything that would impact the Fed and rate cuts. NOTE: The figures and facts above are from the 6/6 report. MARKET VIDEOS [Click here to watch!]( NOTE: The videos are from the 6/5 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 Technical Trader: ZIM Integrated Shipping (NYSE: ZIM): You never know where profits can come from, and that is why we constantly watch different sectors to see where money may be accumulating. With the rather abrupt -- though building over time -- shipping disruptions, shipping stocks that languished lower for over a year or more found buyers. ZIM is one of those. We saw it come off its downtrend and form a four-month base, a shallow inverted head and shoulders. Finally in May, ZIM gave the breakout move. We saw the pattern developing and put ZIM on the watchlist. When it made the break, we were thus ready to issue the alert to move in. ZIM broke higher from the pattern and we issued the entry alert to buy August $12.50 call options that were trading $2.05 on the ask. From there the trade was fairly simple -- good bases tend to yield good, steady moves. Indeed, ZIM rallied to our initial target by May 10. We followed the plan and issued the alert to sell half the position with the options trading at $4.85, a 135+% gain. ZIM continued higher, gapping and rallying farther over the next few sessions. Then, ZIM showed a doji on the candlestick chart. With that, we issued a second sell alert to sell another half of the options trading at $6.45 on the bid. That banked a solid 214% gain. The next session, ZIM paused the move, sliding laterally for a week, letting the 10-day exponential moving average (EMA) catch up to the move. After that pause, ZIM continued the breakout, starting higher and again moving up the 10-day EMA, indeed rising leaving the 10-day EMA behind. The stock again paused and we let it do so as the 10-day EMA rose to catch up again. Often, when the 10-day EMA catches up to the stock price as the price consolidates after a strong move, that catalyzes the next leg higher. Sure enough, ZIM shot higher Wednesday, June 5, and we let the stock surge. Beautiful. At this point, we were going to let the stock rally as long as it would. Well, the next session, ZIM was downgraded. The stock opened at the 10 day EMA and from there started sliding. Well, that was the market telling us it might have some selling to do as some of the profits were banked. Given we were using options on this trade, we knew we would rather bank the rest of the gain than let it erode while ZIM decided if it would hold. If it did hold, great, we could re-enter with a new play. As it is, we issued the alert to sell the last part of the position with the options trading at $7.50 on the ask, banking 265% on the last part of our position. Now, we will see if ZIM does in fact hold and set up again -- the Houthis are still firing missiles at ships, something the West has been unable to stop. With that, we could see ZIM set up and put in yet another rally leg or two on this breakout. [Receive a risk-free trial to Technical Trader and save 50% by clicking here now!]( [Level up your trading intuition]( To buy, sell, or stand aside? That is the question. And it’s simple to answer when you [sharpen your market intuition](. At a single glance of a (powerful) chart, I want to show you how to always make the right decision. [Trade this way >]( 3. Covered Call Options Play Innodata Inc. (NASDAQ: INOD) -- Innodata Ltd. is currently trading at $14.64. The June 21 $15 calls (INOD20240621C00015000) are currently trading at $0.80. That provides a return of about 10% if INOD is above $15 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. 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