Weekend Wrap Up for 09/06/2020

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]( [Success Trading Group]( [About Jon]( In This Issue: - Market Summary - Targets Hit - Pick of the Week - Covered Call Options Play Weekend Wrap Up for 09/06/2020 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Success Trading Group]( [How to Retire on a Single Gold Stock]( World-renowned stock picker Dr. Mark Skousen and his “Alpha-System” have just pinpointed a gold investment that could change your life. [Click here now]( to find out how getting in on this stock now could achieve multiples of 10X… 20X… even 30X by this time next year. [CLICK HERE...]( 1. Market Summary [Jon Johnson] Excerpted from Thursday’s paid content of [Investment House Daily]( by Jon Johnson. No Real Catalyst, Just Gravity – After the Wednesday breakouts, Thursday featured a nasty reversal as the market did not wait for Friday's jobs report. – We saw big price losses, heavy volume and serious downside breadth. – There was no real catalyst, just gravity. The economic data are still solid-ish. – After the quick correction, will there be more upside or will it be prolonged? No one knows the depth, so we will take what we can in our positions. The selling started a day earlier than anticipated with futures opening down hard at -183 on the NASDAQ. Trading was weak all morning, but dominated by the NASDAQ. The Dow was off by 20 points and the NASDAQ was off by 150 points. Trades definitely skewed toward tech stocks. An attempted bounce on the better jobs report died quickly. The move lower continued into midmorning. A bounce died off at about midday and the indices went south into the last hour. A modest bounce was just that -- a modest bounce that did not undo the damage. In the end, the trajectory was an old-fashioned tail that kicked in after a steady move higher. The method of the reversal, the surges on Wednesday with new breakouts and the sharp selling that reversed the moves, all added an extra measure of harshness. Technical Analysis: The small-and-mid-cap stocks fell through the 20-day exponential moving average (EMA) and toward the 50-day moving average (MA). This is not a surprise as they were lagging. Perhaps it was a surprise, because, even though they lagged, they should have felt the rotation if it had existed. Instead, they felt the sting of the selling. NASDAQ: The NASDAQ moved from a gap to a doji on Wednesday to a gap and selloff to the 20-day EMA on rising and above-average volume. As the index managed to hold the 20-day MA, there was much rejoicing. S&P 500: It gapped higher on Wednesday, gapped back down on Thursday and sold to the 20-day EMA on the low. This index featured above average volume as well. NOTE: The figures and information above are from the 9/3 report. There were no videos this week. [Wall Street’s 'Secret Income Source' Goes Ex-Dividend Days from Now]( A little-known investment that renowned income analyst Bryan Perry recommends pays a fat dividend that you'll receive in regular MONTHLY installments. By enrolling in this investment in the next 24 hours, you’ll be able to catch the next monthly payout for owning it less than 30 days! [Click here now]( to collect the next outsized payout. [CLICK HERE...]( 2. Targets Hit Here are several completed trades from Investment House Daily, offering insights into our trading strategy and the targets that we have hit this week: Broadcom Inc. (NASDAQ: AVGO): 65% gain on the options Amazon.com, Inc. (NASDAQ: AMZN): 32% gain on the options Chewy Inc. (NYSE: CHWY): 29% gain on the stock, 140% gain on the options Cummins Inc. (NYSE: CMI): 114% gain on the options Crowdstrike Holdings Inc. (NASDAQ: CRWD): 215% gain on the options CSX Corporation (NASDAQ: CSX): 30% gain on the options Nike Inc. (NYSE: NKE): 86% gain on the options. NVIDIA Corporation (NASDAQ: NVDA): 151% gain on the options Sunrun Inc. (NASDAQ: RUN): 16% gain on the stock, 52% gain on the options Workhorse Group Inc. (NASDAQ: WKHS): 19% gain on the stock, 45% gain on the options [Receive a risk-free trial to Investment House Daily and save 50% by clicking here now!]( Here are several completed trades from Technical Traders Alert, offering insights into our trading strategy and the targets that we have hit this week: Adobe Inc. (NASDAQ: ADBE): 135% gain on the options Salesforce.com, inc. (NYSE: CRM): Closed the position with a 300% gain Chewy Inc. (NYSE: CHWY): 63% gain on the options Docusign Inc. (NASDAQ: DOCU): 160% gain on the options Marriott International Inc. (NASDAQ: MAR): 55% gain on the options NVIDIA Corporation (NASDAQ: NVDA): 151% gain on the options Zillow Group Inc Class C (NASDAQ: Z): 75% gain on the options [Receive a risk-free trial to Technical Trader and save 50% by clicking here now!]( Here are several completed trades from the Success Trading Group, offering insights into our trading strategy and the targets that we have hit this week: Morgan Stanley (NYSE: MS): It looked as if financials were going to recover, as they set up some very nice patterns into late July. MS sported a nice cup-with-handle pattern, the handle of which tested back to the 20-day EMA. On July 27, the stock broke higher off of the 20-day EMA. So, we bought stocks for $51.53. MS looked great until financials lost their bid, and MS slid back to the 50-day MA to end the month of July. From there, it started higher in August. However, it was a slow move. The stock rallied nicely into the second week of the month and looked great. Then, it slipped right back to the 20-day EMA in the middle of the month. From there, it moved back and forth along the 20-day EMA. In early September, MS finally broke higher again. As a result, we sold the position for $53.45 and banked a 3.7% gain. CSX Corporation (NASDAQ: CSX): As the market looked like it was going to reward the recovery stocks, CSX set itself up well until mid-August. The stock formed a nice cup-with-handle pattern and started higher in the middle of the month. We moved in and bought stocks for $75.18 on Aug. 17. While it was not all straight up for CSX, it was a slow and steady move up the 10-day EMA. At the end of the month, CSX hit our target. While we waited to see if there was any more potential in this play, there was not. As a result, we sold the position for $77.42 and banked a 2.98% gain. Now is a good time to become a member of the Success Trading Group. The system is geared towards bringing you consistent, short-term gains of 5-10% and you can expect four to six trades every month. [To receive a risk-free trial and save 50%, click here now!]( [Urgent: Why You Need Market Plunge Protection NOW]( How do I know when the market is going to crater? Because every time the market plunges 20% or more, like it did at the end of 2018, the rebound curve looks pretty much the same. It shows you how high the market will bounce back… just before it plunges again. Goldman Sachs claims this has been happening since 1945, and that we’re about to get slammed with another round of volatility. But my five-point strategy could be a lifesaver for your portfolio… in fact, even in volatile markets, it wins up to 86% of the time! [Click here now]( to download your free guide. [CLICK HERE...]( 3. Pick of the Week BKE (Buckle, Inc. -- $20.10) +0.98 EARNINGS: 11/20/2020 STATUS: Cup with handle. Retail is showing excellent action, and BKE is another retail chain which, after buckling, has recovered nicely. BKE gapped up to the 200-day simple moving average (SMA) during the third week of August, but could not hold a move. That action, however, helped form a three-month cup-with-handle. This pattern is part of a larger base that started, of course, off of the February high into March -- you know that story. After a couple of weeks working laterally below the 200-day SMA, BKE broke higher on Tuesday on rising and above-average volume. This was due to the fact that money was again being allocated toward retail stocks. It is also important to note the break out in the moving average convergence/divergence even at this lower price level -- this shows good momentum. We want to play a continued break higher for a run at some gaps lower from February. That move will give us a 20% gain on the stock and a 90% gain on the options. VOLUME: 624.044K Avg Volume: 646K ENTRY POINT: $20.24 Volume=750K Target=$24.99 Stop=$18.66 POSITION: BKE NOV 20 2020 20.00 Calls -- (58 delta) &/or Stock [To see the chart for BKE, click here!]( [To receive all of Jon’s picks in Investment House Daily, click here now to start your risk-free trial and save 50%!]( --------------------------------------------------------------- 4. Covered Call Options Play Purple Innovation Inc. (NASDAQ:PRPL) -- Purple Innovation Inc. is currently trading at $17.28. The Oct. 17 $17.50 Calls (PRPL20201017C00017500) are trading at $1.80. That provides a return of about 14% if PRPL is above $17.50 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]( [Investment House Daily Pro]( [Investment House Technical Traders Alert]( [Investment House Technical Traders Alert Pro]( [Success Trading Group]( To ensure future delivery of Eagle Financial Publication and emails please add financial@info2.eaglefinancialpublications.com to your address book or contact list. View this email in your [web browser](. 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