Weekly Update: January 9, 2017

| January 9, 2017

Weekly Update:  January 9, 2017

  

What To Watch

It’s been a great start to the year… the markets have continued pushing higher.

Dow 20,000 is on watch, and the news cycle makes it a big deal every time we get close to the 20K mark.  I’d expect us to break through in the next week or two and still head higher from here.

Remember, 20K is a big psychological number.  Once we close above it… the big question will be can we hold it.

Then once we hold 20K, the question will be will it be support for the market going forward. Any way you slice it, it’s a BIG number to watch.

Now a quick note… Next Monday is Martin Luther King Day…. and the markets are closed.  That next day, Tuesday, January 17, I’m going to send out a special trade.   I’ve been watching one part of the market and it’s got me really excited.  I think it could be the next big performer for the first quarter of 2017.

I’m doing my research right now, and I’ll be finishing up the alert Tuesday morning.  

Watch for this special trade a few hours after the markets open.  I’m going to recommend NOT 1, 2, 3, or 4 trades… but 5 HOT trades in the market based on one BIG theme.  

So keep an eye out on your email inbox for this important trade alert!

 

Portfolio Recap

Position #1: Chevron (CVX) March 17th $125 Calls

This was a new trade we released earlier this week.  After peaking above 118, the stock pulled back to the 116 range.  Not to worry, as oil prices climb, our option will too!  Hold steady.

 

Position #2: Procter & Gamble Company (PG) January 20th $87.50 Calls

We’re down to the wire on this one… The stock climbed above $85… and if we get a big push over 20K on the Dow, we could see this option surge in value.  Watch it closely, as the expiration approaches, we’ll lose value even more quickly.  If we don’t see it move next week, take your capital off the table.

 

Position #3: Dicks Sporting Goods  (DKS) January 20th $60 Calls

The stock traded lower over the end of year trading… it hit a low around Dec 23rd.  If you haven’t exited to conserve capital… do it now.

 

Position #4: Smith & Wesson  (SWHC) March 17th $22 Calls

SWHC held steady this week… if we can get a good rally soon, we could make some serious money.  Hold tight for now.

 

Category: OTW Weekly Updates