Weekend Wrap Up for 02/25/2024

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 02/25/2024 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Rapid Profits Stock Trader]( [1pxtrans]( Sponsored Content [3 Proven Ways for Weekly Retirement Income]( Options expert Dave Acquino has just revealed three full-proof strategies to tame market fluctuations and generate steady weekly income. Get the free guide that shows you how to use them and start living a worry-free retirement life today. [CLICK HERE to get instant access.]( 1. Market Summary [Jon Johnson] - As everyone expected, stocks gap higher on the NVIDIA (NVDA) results, led by techs, chips - New highs for the usual suspects as small-caps bring up the rear - Initial jobless claims laughable given the thousands upon thousands of layoffs - Existing home sales lack volume as owners are locked in by high rates - Commercial real estate (CRE) problems have not left the building - NVDA results mark peak enthusiasm? - Buybacks slow, insider selling surges, earnings winding down -- from whence the next catalyst? Large upside gaps dominated the Thursday post-NVDA earnings action. All indices gapped and rallied, all closing near the session high. S&P500, DJ30, PHLX Semiconductor Sector (SOX) and Nasdaq-100 all moved to new all-time highs. The Nasdaq managed a new recovery closing high but still finds itself lacking a new all-time high. S&P400 is ready to take out its recovery high while DJ20 and Russell 2000 lag. All is about the same as usual for these rallies. NOTE: The figures and facts above are from the 2/22 report. MARKET VIDEO [Click here to watch!]( NOTE: The video is from the 2/21 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: As the rally in big-name stocks continued thanks to the rally-saving NVDA earnings, we banked more gains. Some was in the tech sector for sure, specifically the semiconductor sector. This market rally has spread out, however, though just barely. From big-tech names to big names in other areas, e.g. retail. It is not a 100% rule (no rule is), but the moves upside in this market are still dominated by the biggest names in certain groups. This may not last much longer. After the NVDA news, the earnings season is pretty much complete. The Federal Open Market Committee (FOMC) decision for the month is out, the data deluge is over for a bit, the buyback binge that helped fuel the rally is slowing and insiders are selling billions in stock. We will see, but after this third leg of the rally that renewed mid-January, there may be some backfilling. Not a bad thing, and Goldman Saches sure wants it with its many "gone too far" comments of the past two weeks. So, we have banked gains, will bank some more and then look for a test to reset some buys. We have focused on those and continue to bank solid gains, even on brand-new positions. A few from this week are: Lam Research Corporation (NASDAQ: LRCX): 53% gain in the options Quanta Services Inc. (NYSE: PWR): 97% gain in the options Ralph Lauren Corp. (NYSE: RL): 52% gain in the options Ulta Beauty Inc. (NASDAQ: ULTA): 128% gain in the options [Receive a risk-free trial to Technical Trader and save 50% by clicking here now!]( 3. Covered Call Options Play Alcobra Ltd. (NASDAQ: ARCT) -- Alcobra Ltd. is currently trading at $35.28. The March 15 $40 calls (ARCT20240315C00040000) are currently trading at $0.90. That provides a return of about 18% if ARCT is above $40 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. 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