Weekend Wrap Up for 11/12/2023

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 11/12/2023 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Rapid Profits Stock Trader]( [1pxtrans]( Sponsored Content [How an Unknown Kansas Welder Ended Up on the Forbes Richest List...]( But ANY American Can Make One Move in Less Than 3 Hours – and Follow in His Footsteps. [Here's How...]( 1. Market Summary [Jon Johnson] - Stocks cruising to yet another gain when a 30-year auction torpedoes the upside - Fed emergency facility usage surges to new highs - Chairman Powell talks again, still talking tough - So much for a rotational move as small-caps and mid-caps accelerate downside, large-caps test more or less as anticipated - Large cap indices still hold above the 50-day simple moving average (SMA), no bounce from smaller issues - Gauging the ripple effects of the abysmal auction as the action plays out Stocks were cruising once more from the premarket through the morning. Overbought near term for sure, but that did not seem to matter, as everyone was psyched about a ninth consecutive S&P 500 upside session (though the Nasdaq and Nasdaq 100 were already there). In the premarket alert, I commented holding the gains would be problematic and the 30-year bond auction would be a more serious litmus test for the upside. Should have kept my mouth shut. NOTE: The figures and facts above are from the 11/9 report. MARKET VIDEO [Click here to watch it!]( NOTE: The video is from the 11/8 report. [If You 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 you 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 you can start taking advantage of this technique alongside me. [Click this link to view the presentation.]( 2. Targets Hit Technical Trader: After the strong initial surge to start the Q4 rally, we knew the action would flatten out a bit before it continued. With any luck there would be a fade to provide some entries into new positions. As of Thursday this past week, the market was starting to flatten out, and we anticipated a pullback in the initial leaders, e.g. the big-name techs that helped spur the move. With that in mind, we had perused our list of positions to bank some gains on those that were approaching expiration over the next month, maximizing some profit ahead of any fade. Microsoft Corp. (NASDAQ: MSFT) was one of those positions that had put in a nice move for us on the breakout from its three-month double-bottom-with-handle pattern. It had stormed higher and was due a test -- we wanted to return with a new position with farther out options when it made that test. Thursday stocks started higher, MSFT as well. Powell was on tap for a policy speech and a 30-year Treasury auction as well. After a solid run higher, those two events held the possibility to further a pullback. With that in mind, we opted to bank the rest of our MSFT December option position. We had picked up the options Oct. 9 for $15.58 when MSFT started to break higher from its double bottom. Turned out MSFT wanted to form a handle, so we let it do so. Then, it took off late October and surged into this past week. We issued the alert to sell with the options trading at $35.30 on the bid side, banking a nice 120+% gain. Soon, it will make that first test of the breakout, and that is one of our favorite entry points. Why? Because while a breakout is great and can yield great returns (as the prior position), breakouts can make the move one day then get body slammed the next session -- particularly in a market as volatile as this one. The first test of the breakout is a great entry because 1) when the stock starts back up after the test, it "proves up" the break as the big money still wants the stock even at a higher price and uses the pullback to enter, 2) it is early in the breakout life and thus there is plenty of room upside for gains, and the first test is the ramp for that big move. Thus, this coming week, we are looking for more MSFT once it makes its pullback to test the breakout. Sometimes, that "pullback" is nothing more than a lateral move for a strong leader. If that is all MSFT gives, that is okay because that just goes to show how strong the stock is. [Receive a risk-free trial to Technical Trader and save 50% by clicking here now!]( [Warning: America on the Brink of Financial Crisis!]( Traders who make money understand the need to optimize their trading strategy to capitalize on every opportunity that comes their way. [Count On This Dual-Patented A.I. Trading Tool (Learn for FREE Now) >>]( 3. Covered Call Options Play Green Brick Partners Inc. (NYSE: GRBK) -- Green Brick Partners Inc. is currently trading at $43.91. The Dec. 15 $45 calls (GRBK20231215C00045000) are currently trading at $1.20. That provides a return of about 7% if GRBK is above $45 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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