Weekend Wrap Up for 06/06/2021

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 06/06/2021 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Success Trading Group]( Sponsored Content [Jump in on TWO Brand New Stock Picks]( The former VP of a Wall Street institution has just come out with some shocking news... There's a little known pattern that happens every Tuesday morning right at 9:30AM. With it, you could snag easy four day gains like... 90% on RIOT, 104% on FSLR, 122% on MRNA, 147% on FCX, 232% on ORCL - And dozens more... [Click here for your chance to jump in on his brand new p]( [CLICK HERE...]( 1. Market Summary [Jon Johnson] Excerpted from Thursday’s paid content of [Investment House Daily]( by Jon Johnson. Stocks Start Significantly Lower – Stocks start significantly lower, but move up off of the lows. – Indices hold their support and are in position to bounce. – The Automatic Data Processing (ADP) jobs report was strong due to the reopening of the economy. The policies that the Biden administration has proposed will not continue to create jobs. – The May jobs report reaction was instructive. It determined whether there would be a bounce from the support, or a fade to test the bottom of the range. For two weeks, the stock indices have moved upside, some more so than others. Even with the upside, however, several sessions sported high-to-low action. They did not close negative for most of those, but there was high-to-low action. That is, the indices opened higher and then closed below the highs. On Thursday, stocks started the premarket session significantly lower and moved up, some more so than others. For instance, the DJ30 moved back up to basically flat and the S&P 500 recovered 25 points to close off just 15 points. The Nasdaq and PHLX Semiconductor Sector (SOX) closed over 1% lower, but they also rose off of their session lows (the Nasdaq rose 66 points from the low). Overall, Thursday was a down day. Even so, stocks rose off of the intraday lows -- there was buying, short-covering or otherwise. NOTE: The figures and information above are from the 6/3 report. [Watch the Investment House Video For This Week Here!]( NOTE: The video is from the 6/2 report. [399 Wins in 401 Trades? Here's Why...]( A renowned stock trader has a different mindset when it comes to the market. By focusing on the stocks that have powerful earnings and sales momentum, he’s been able to amass a near-perfect record of 399 wins out of 401 closed trades. This defensive mindset that has not only made him quite rich, but has also been able to make many of his readers millionaires. [Click here now to learn how you, too, can stop the losses cold -- and bank more wins, more often.]( [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: Olympic Steel, Inc. (NASDAQ: ZEUS): Steel remains as solid as steel. Now that the economy is reopening, and we are ready to start building things again, we need steel. Since we have played ZEUS, U.S. Steel (NYSE: X), Companhia Siderurgica Nacional (NYSE: SID) and company many times, we were watching for new setups to make us more money. In late May, ZEUS was starting to rise from a test of the early-May breakout, and that put us on the path to a new entry. On May 24, ZEUS broke higher. This was the entry signal. We bought stock for $34.50 and July $35 call options for $2.97 -- we love the pricing in these stocks when compared to the hugely inflated pricing of the tech stocks. ZEUS took another day to get its full footing, but after that, the stock rallied nicely into this past week. ZEUS hit our target with a gap higher on Wednesday. However, we also noted that it gapped and then immediately stalled. In general, that trajectory can signal a pullback after a good rally to a higher high. Thus, we sold the stock for $39.99 and banked a 15.9% gain. We also sold our options for $6.50 and banked a 118% gain. We also took gains this past week in the following positions: American Airlines Group Inc. (NASDAQ:AAL): 77% gain in the call options. Marathon Oil Corporation (NYSE: MRO): 70% gain in the call options. Polaris Inc. (NYSE: PII): 58% gain in the put options. Tellurian Inc. (NASDAQ: TELL): We took the rest of the 109% gain in the stock. [Receive a risk-free trial to Investment House Daily and save 50% by clicking here now!]( Here is one completed trade from Technical Trader Alert, offering insights into our trading strategy and the target that we have hit this week: Community Health Systems Inc. (NYSE: CYH): This certainly was an easy setup. With so many investors focusing on tech, semiconductors, industrials and the like, it was almost too easy to overlook health care. We always scan all sectors, however, and that is how we uncover some easy winners in areas others may not see at first. CYH is a stock we watch and play. After a good move to start the month of May, it consolidated in a great two-week flag pattern -- you don’t need to know what that is, but after a break higher, it is a very good pattern that allows a stock to take a breather and reset for a new move higher. The goal is to catch it as it starts that next move. We saw CYH make that break higher on May 27, and we were ready because we already had it on the report. We entered with July $13 call options that were being sold for $2.40. CYH stepped higher into this week by posting a strong move on Tuesday. It then moved laterally and started back upside on Friday. We used that move to bank half of the gains from the options by selling them for $3.60. This generated a 50% gain in the first half of the position. [Receive a risk-free trial to Technical Trader and save 50% by clicking here now!]( Here are two completed trades from the Success Trading Group, offering insights into our trading strategy and the targets that we have hit this week: Marathon Oil Corporation (NYSE: MRO): Smaller energy stocks finally started to move after the big names, including Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX), initiated a rally. We saw some top-notch stocks start to move higher in mid-May. Since they were showing great upside volume, this served as an indication that there was a lot of money on the buy side of the equation. The fact that MRO cleared its resistance on May 17 served as our entry signal. We picked up the stock for $12.23. During the next session, MRO rallied again and then reversed into the negatives. That started a week of testing where the stock just made the break and then dropped. We looked at other energy stocks, and they were also sluggish after that break higher. However, all of them were holding near their support. Thus, we left MRO to work for us. MRO held its support and started to creep higher. As June started, it found new money -- energy stocks were the beneficiary of the new money for the new month. MRO jumped higher on June 1 and hit our target. We then sold the position for $12.92 and banked a 5.64% gain. Oil States International, Inc. (NYSE: OIS): This was a similar play to MRO, but it took a bit longer than we wanted. Even so, we managed to turn our entry on May 10 at $6.73 into a 4.75% gain when we sold the stock for $7.05 on June 2. 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!]( [What to Expect in "New Market July"]( This is just a fair warning we're handing out virtual roadmaps to finding the best bold market moves for June 2021...AND how to avoid getting blindsided by a crash. Join us online to see a FREE demo of artificial intelligence for traders. Our experts will show you signs from the A.I. that a crash is potentially on the horizon. [Save Your Seat Now, see what's coming up next for the markets!]( [CLICK HERE...]( 3. Pick of the Week AAP (Advance Auto Parts -- $191.33, -3.31) EARNINGS: 06/02/2021 STATUS: AAP and other auto-parts stocks have performed well, but over the past several weeks, they have turned toward something that looks like the top of their trajectory. AAP fell from its high to the 50-day moving average (MA) -- which was nothing unusual after a good run. Then, it fell through the 50-day MA, and the recovery this past week has proved itself to be less than spectacular. Indeed, AAP is forming a bear flag with a modest rise up to the former support. It then actually broke through it on Tuesday and continued higher with a gap on Wednesday. It then reversed and closed below the 50-day MA. The break of support followed by a failed rebound to test the former support is a very good downside entry. As AAP breaks lower, we want to move in. A drop to the target will give us a 60% gain in the put options. VOLUME: 1.605M Avg Volume: 849.679K ENTRY POINT: $190.07 Volume=1.2M Target=$180.05 Stop=$193.55 POSITION: AAP JUL 16 2021 $190.00 Puts -- (-42 delta) [To see the chart for AAP, click here!]( [To receive all of Jon’s picks in Technical Trader Alert, click here now to start your risk-free trial and save 50%!]( --------------------------------------------------------------- 4. Covered Call Options Play Netgear Inc. (NASDAQ: NTGR) -- Netgear Inc. is currently trading at $38.26. The June 18 $39 Calls (NTGR20210618C00039000) are trading at $0.30. That provides a return of about 9% if NTGR is above $39 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. 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