Weekend Wrap Up for 03/10/2024

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 03/10/2024 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Rapid Profits Stock Trader]( [1pxtrans]( Sponsored Content [Election Year Alert: Is your portfolio ready for what's ahead?]( With a Biden vs. Trump rematch on the horizon, and deep divisions in the country, all signs point to another nasty election cycle that looks too close to call. If there's one thing that Wall Street hates, it's uncertainty. So now is the time to prepare your portfolio before things get volatile. To help weather any election year bumps, we've just released a new FREE Report. [Just click here now to get your free copy of "7 Stocks to Own Before the 2024 Election."]( 1. Market Summary [Jon Johnson] - Powell affirms Waller’s ‘reverse twist’ musings and the market likes the prospects. - After a volatile period, NASDAQ indices break solidly higher with the other indices -- sans DJ30 - Not much change in leadership, just recycling the usual suspects - Initial jobless claims remain low even as Challenger and other private counters, as well as the government’s own WARN report show current layoffs and plant closures already occurring and more to come. - Consumer credit sees resurgence in card debt as levels hit records, delinquencies and charge-offs surge. - Jobs on deck, and we are supposed to pretend they are an accurate picture of the labor market. The less than solid tech bounce Wednesday set the stage. Not for downside, but for a new break higher. The indices overall posted solid advances that helped take the wobble out of some potentially wavering patterns, particularly in tech. Powell’s Day 2 saw him backtrack on some of the more hawkish positioning and jawboning from Fed governors and FOMC members. Powell went back to his pre-tough guy renewal tour since the presser two FOMC meetings back, stating the Fed is near the confidence level to cut rates in 2024. Importantly, Powell followed through on Waller’s previous comments calling for holding more shorter-term bills versus the MBS. The groundwork is now well underway for the next form of QE, the ‘reverse twist.’ That definitely took pressure of the upside move as the stock indices rebounded quite nicely. NOTE: The figures and facts above are from the 3/7 report. MARKET VIDEO [Click here to watch!]( NOTE: The video is from the 3/6 report. [If Investors 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 investors 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 investors can start taking advantage of this technique alongside me. [Click this link to view the presentation.]( 2. Targets Hit Investment House Daily: In a market that is light on leadership and what there is outside of the NASDAQ mega-caps is spread out and thin, you have to search to find the winners and not be so finicky you write yourself out of winning plays. Thus, we found ourselves in a wide gamut of plays where we banked gain, plays not only from different areas in the market and economy, but different prices as well. We had to use options on some plays to keep our price range where we want it, but that works if you have great setups. American Eagle Outfitters, Inc. (NYSE: AEO): 12.6% in the stock, 60.9% in the options Fastenal Company (NASDAQ: FAST): 64.5% in the options Harmony Gold Mining Company Limited (NYSE: HMY): 58.1% in the stock Louisiana-Pacific Corporation (NYSE: LPX): 64.55% in the options Netflix, Inc. (NASDAQ: NFLX): 37.7% in the options [Receive a risk-free trial to Investment House Daily and save 50% by clicking here now!]( Technical Trader: There was a definite financial bias in the profits we took this week as we have played what we call the ‘outsiders,’ the crypto-related and a few other sectors that are doing their own thing, making their own wake, regardless of what the rally leaders and other market stocks are doing. Even so, some old-time retail and industrial-side stocks also produced nice gain for us. ProShares Bitcoin Strategy ETF (NYSEARCA: BITO): 151% in the options Coinbase Global, Inc. (NASDAQ: COIN): 122% in the options Wells Fargo & Company (NYSE: WFC): 208% in the options Walmart Inc. (NYSE: WMT): 64.7% in the options [Receive a risk-free trial to Technical Trader and save 50% by clicking here now!]( Rapid Profits Stock Trader: I have complained of a lack of breadth in terms of market leadership, of those stocks in great patterns and breaking higher, rallying to new highs and carrying the market. Well, as we know, there are plenty of stocks that can provide a fast, solid return without breaking to new highs. It could be that some of those are on the way to a new high... eventually. We are picking them up when they ‘turn the corner’ as I like to say, i.e., coming off a trend break or having rounded off a bottom and turning back upside. The moves they make can be rapid and quite profitable. Looking across the gains we banked this week, we have a wide range from oil and gas to drugs to metals to AI. Hmmm. Plenty of breadth with these rapid profits stocks where we typically hold them a short period of time. For example, with CERS, we bought it as it made the move, then booked some profits that afternoon. Cerus Corporation (NASDAQ: CERS): 6.75% in the stock Palantir Technologies Inc. (NYSE: PLTR): 11.93% in the stock Permian Resources Corporation (NYSE: PR): 7.57% in the stock Teva Pharmaceutical Industries Limited (NYSE: TEVA): 5.7% in the stock TMC the metals company Inc. (NASDAQ: TMC): 8.78% in the stock [Receive a risk-free trial to Rapid Profits Stock Trader and save 50% by clicking here now!]( [Step by Step Guide to Revolutionize Your Options Trading]( Would you like a step-by-step guide to walk you through how to maximize your Options strategies? Best of all, anybody can learn how to do it. All you need is about 1 hour to learn how you can execute this simple strategy. [Do NOT miss this opportunity to revolutionize your Options trading.]( 3. Covered Call Options Play Madison Square Garden Entertainment Corp. (NYSE: SPHR) -- Madison Square Garden Entertainment Corp. is currently trading at $48.12. The April 19 $50 calls (SPHR20240400C00050000) are currently trading at $3.10. That provides a return of about 11% if SPHR is above $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. 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