Weekend Wrap Up for 06/16/2024

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 06/16/2024 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Rapid Profits Stock Trader]( [1pxtrans]( Sponsored Content [Buffet, Bloomberg & 48 Congress Members Are Buying 1 Sector]( Why are Warren Buffett, Jeff Bezos, Michael Bloomberg, "The Walmart Family", Bill Gates, and 48 members of Congress shifting their stocks in a frenzy? And why are they all piling into ONE unique corner of the market... The last time we saw the world's wealthiest investors move their cash into this corner of the market, Stocks exploded 2,020%, 5,609% Even as high as 8,437% in just ONE year. Now, it's all happening again. [Click here for the details.]( 1. Market Summary [Jon Johnson] - Producer Price Index (PPI) follows Consumer Price Index (CPI) lower, jobless claims jump: of course stocks jump - Big Four indices gap higher to new all-time highs, but just sit after the gap - The other four indices languish again, losing ground - The biggest names in each sector still get the money - Big Four look ready to start a test. The key is whether new money moves to the lagging areas - Some good patterns outside the big names, but they have yet to move - Looking for some virtuous rotation PPI "confirmed" the cooler CPI as markets received something of a ‘best case’ scenario for pricing. Initial jobless claims jumped to 242,000, the highest since August 2023. Prices cooling, the jobs market finally showing the effects of thousands of job losses, this week dominated by California fast food layoffs. On top of that, you have the biggest techs producing big earnings results, e.g. Broadcom (NASDAQ:AVGO) earnings and the company extolling its growth due to artificial intelligence. That shot AVGO 12.2% higher, helping blast the PHLX Semiconductor Sector (SOX) to a new nigh -- along with NASDAQ, Nasdaq-100 and S&P 500. NOTE: The figures and facts above are from the 6/13 report. MARKET VIDEOS [Click here to watch!]( NOTE: The videos are from the 6/12 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: Micron Technology Inc. (NASDAQ: MU): SOX is one of the Big Four indices massively outperforming the rest of the market. It is a characteristic of this market: the bigger caps are simply getting the money. So, we turned to the big-name chips -- strength on strength. We looked for setups after pullbacks, and MU presented a perfect scenario: Broke higher form a base in the late May rally. MU then faded to test that rally, coming back to the 20-day exponential moving average (EMA), holding it on each close. When the stock broke higher June 5 off the support and held the move late-session, we issued the alert to buy the July $130.00 strike call options trading at $9.50 on the ask with the stock trading right at $130. Yhat may seem a bit pricey, but compared to Nvidia and some other stocks closer to the artificial intelligence feeding frenzy, they were not bad. MU hesitated the next session, then rallied into this week as most all the big name chips performed. MU threw a doji Thursday, as did other chip stocks, suggesting the leg higher was ready to pause or test. Sure enough, on Friday, MU was a hair weaker. MU was still below our target, but with the options trading at $17 on the ask, we issued the alert to sell half the position for a solid 80+% gain. [Receive a risk-free trial to Investment House Daily and save 50% by clicking here now!]( Rapid Profits Stock Trader: Despite the current basing stage for many of the commodities, precious metals and other stocks with the lower price range we target in this service, there are still stocks that are setting up and breaking higher. They are not flooding higher as they were, though that will resume when these bases consolidating the last runs are completed. In the interim, we picked up some other areas, as well as those leaders of the commodities groups that are already moving. Accordingly, we were able to bank some gains on the week as our plays in biotech and smaller tech make their runs. Comstock Resources Inc. (NYSE: CRK): Banked the position for a 6.6% gain in the stock Harmony Gold Mining Company Ltd. (NYSE:HMY): Sold the position for a 3.5% gain. [Receive a risk-free trial to Rapid Profits Stock Trader and save 50% by clicking here now!]( [From Financial Fear to Good Fortune]( Jerome Powell just made buying a home more challenging, and the Magnificent 7’s momentum is collapsing. If these headlines don’t grab your attention, then you’re asking yourself when the FED will start cutting rates. With so much uncertainty, may I suggest an alternative strategy to just hoping…a method to enhance what you’re currently doing with more precision and confidence. [Learn the top 3 stock trends]( we’re looking at right now for explosive bullish potential. 3. Covered Call Options Play United Continental Holdings (NASDAQ: UAL) -- United Continental Holdings is currently trading at $52.34. The July 19 $52.50 calls (UAL20240719C00052500) are currently trading at $3.30. That provides a return of about 7% if UAL is above $52.50 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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