Weekly Update: April 17, 2017

| April 17, 2017

Weekly Update:  April 17, 2017

  

What To Watch

We’re now six weeks into the market slide.  After the Dow peaked in early March, we’ve been on a steady slide lower.  Mind you, it’s a slide, not a drop or plummet.

Many would look at this as a market consolidation… preparing for a move higher!

Oil prices plunged in May and are just now creeping back up to the $55 level.  We rolled out a big trade earlier in the year based on oil prices moving higher and we were flat out wrong.  

I’d recommend exiting those trades, and we’ll look for a better entry point down the road.

The only oil related trade I’d hold onto is the DAL Puts as they are closest to being in the money.

The CCL trade was spot on, unfortunately, our options ran out of time.  Those options expire this week.  I’d recommend exiting today to conserve capital.

The TWTR trade didn’t cooperate either.  I still think the company is poised for a buyout… but when is anybody’s guess.  If you still hold these options, exit to conserve capital.

The GM trade is really paying off right now… the options are up a whopping 92%…  everyone with this trade on should be close to doubling their money!  With the market slide continuing… I’d keep holding these options.  However, any sign of a snapback or rebound, and you should pull your profits off the table.

Our KORS Puts are looking good right now too.  The stock is hovering around the “at the money” levels and if we get a break lower… we could see this stock plummet!  Hold tight for now.

Watch for a new trade next week!

 

 

Category: OTW Weekly Updates