Weekend Wrap Up for 02/18/2024

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 02/18/2024 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Rapid Profits Stock Trader]( [1pxtrans]( Sponsored Content [If everyone knew this, Wall Street would go out of business]( There's a "hush-hush" trading strategy institutional investors like to keep to themselves... Because if everyone knew about it, they'd be out of business! In fact, some traders are using it to win 9 out every 10 trades they place. [Click here and I'll show you how it works.]( 1. Market Summary [Jon Johnson] - Third rally leg continues despite weaker data, sentiment calling the move overdone - Technical action overrules data - Initial claims, of course, fade, but regional Purchasing Managers Indexes (PMIs) continue their weak performance, industrial production/utilization fall, retail sales show the typical first of year weakness - Commercial real estate (CRE) is no real worry to the Fed, just to those who cannot make the payments and the banks holding the paper - Small and mid-caps lead the rally higher for a second day as the market seeks new leaders - More stocks moving up, a few more leadership possibles - February expiration, Friday, but still early enough in the third leg to consider entering new breaks higher For a second straight session Goldman Sachs (GS) struck a pessimistic tone, stating a “breather is warranted, likely.” Strong statement, maybe. That was not enough, however, as a GS traders later stated the market action is "rhyming with 2021 peak euphoria." No doubt the market appears to fear little. For a second session, stocks rallied. The leadership mix changed a bit, but the mid-caps and small-caps again led the action, and led with a comfortable margin. NOTE: The figures and facts above are from the 2/15 report. MARKET VIDEO [Click here to watch!]( NOTE: The video is from the 2/14 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 Investment House Daily: As the second leg of the 2024 rally started to fade and then dropped abruptly, only to immediately bounce off the 20-day exponential moving average (EMA) into leg three, we found tons of opportunities. More than that, it was opportunity from many sectors. That is a positive for the market, but it could still use more leadership from stocks other than the mega-cap Nasdaq leaders. In any event, we banked some great gains as the below trades show. ProShares Bitcoin Strategy ETF (NYSEARCA: BITO): 13% gain in the stock, 68% gain in the options HF Sinclair Corp. (NYSE: DINO): 133% in the options Microsoft Corp. (NASDAQ: MSFT): 187.9% gain in the options Nu Holdings Ltd. (NYSE: NU): 10.45% gain in the stock, 85.7% gain in the options [Receive a risk-free trial to Investment House Daily and save 50% by clicking here now!]( Technical Trader: We have hit the big names in leading sectors hard, and that has profited us handsomely. This past week it was retail and software with some of those big names scoring nice gains. Costco Wholesale Corporation (NASDAQ: COST): 50% gain in the options Synopsys Inc. (NASDAQ: SNPS): 77% gain in the options Ulta Beauty Inc. (NASDAQ: ULTA): 83.8% gain in the options [Receive a risk-free trial to Technical Trader and save 50% by clicking here now!]( Rapid Profits Stock Trader: Finance, pharma and biotechs were the foundation of this week’s gains. As the mega-cap techs were slowing their last run, some other areas seemingly long forgotten started to stir. Oil and gas for one, and a group of drugs, pharma and biotech. It made for ripe opportunities to make some rapid profits on stocks that were in excellent position to move ... and did. Fate Therapeutics Inc. (NASDAQ: FATE): 7.38% gain in the stock in less than three sessions Nu Holdings Ltd. (NYSE: NU): A finance stock, but it worked well, giving us a 7.54% gain in a short trade Nano Labs Ltd. (NASDAQ: NA): Sometimes things fall into place. After a gap lower to start February, NA moved laterally after that gap, refusing to sell further. It exploded higher Monday, Feb. 12, filling the gap, breaking the 200-day simple moving average (SMA), and surpassing the December 2023 highs. We were watching and cashed out with a 44.9% gain as the stock shot higher then started to backtrack in a hurry. Omeros Corp. (NASDAQ: OMER): We saw OMER with a beautiful setup to break higher through the 200-day SMA after a bump of that resistance off a higher low, a short fade, and then on Wednesday, a break through that resistance. We jumped on that breakout, and the following session, OMER hit our target and we banked a solid 10.4% gain in the stock. [Receive a risk-free trial to Rapid Profits Stock Trader and save 50% by clicking here now!]( [Dominate February Volatility in Free A.I. Training]( While Wall Street hangs on every word of the financial news cycle, the shrewd trader should be zeroing in on the insights offered by artificial intelligence in trading. [Show Me the Free Live A.I. Forecasts That Are Trending Now]( 3. Covered Call Options Play Applovin Corp. (NASDAQ: APP) -- Applovin Corp. is currently trading at $46.87. The March 15 $47.50 calls (APP20240315C00047500) are currently trading at $4.40. That provides a return of about 12% if APP is above $47.50 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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