Invest and Trade Profitably with Jon Johnson

Weekender for 11/28

1. Market Summary

Excerpted from Tuesday’s paid content of Investment House Daily due to the Thanksgiving holiday.

The Market Shows Some Rotation

– The market shows some rotation, just not nearly enough to offset the sharp intraday reversals in the growth indices.
– Chairman Powell was renominated. The market celebrated and then sold off — as if Chairman Powell is not dovish enough.
– A larger number of housing speculators are fueling existing home sales.
– There are an impressive number of new lows on the Nasdaq, as smaller issues are entering their own correction.
– Is Chairman Powell’s renomination a market top? It is likely just some Thanksgiving week sharp volatility that happens when stocks run hard ahead of the current volatility.

On Monday, President Biden made his pick for the next Fed chair, choosing between Jerome Powell and Lael Brainard.  Initially, the response was a wave of upside in market futures — Chairman Powell, as the status quo, has been good for stocks. The irony is that initial blush upside was sold after a nice rally through the first hour. Stocks gave up the gains into the time that the European markets closed. Could it be that the market rethought the choice and sold because, after all, Chairman Powell is tightening the money supply and planning on hiking interest rates.  Wow, Chairman Powell is too tough? Only when the other possibility is a pro-money printing socialist.

Regardless of the cause, stocks did rebound off of the morning high-to-low move. In the last hour, however, stocks dove lower and plunged to a session low. Growth stocks took a beating, but the NYSE indices were not hit as badly.

NOTE: The figures and information above are from the 11/23 report.

Watch the Investment House Videos For This Week Here!

NOTE: The videos are from the 11/23 report.

2. Targets Hit

Here are two completed trades from Investment House Daily, offering insights into our trading strategy and the targets that we have hit this week:

During the course of this week, we were mostly watching for new entries as stocks tested. However, we did bank gains in the following positions:

Adobe Inc. (NASDAQ: ADBE): 66% gain in the options, Inc. (NASDAQ: AMZN): 25% gain in the options

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Here are three completed trades from Technical Trader Alert, offering insights into our trading strategy and the targets that we have hit this week:

During this short week, we banked gains in the following positions. We are also looking forward to a rebound from the pullback, which partially started on Wednesday.

Apple Inc. (NASDAQ: AAPL): 132% gain in the options

Shopify Inc. (NYSE: SHOP): 42% gain in the options

Microsoft Corporation (NASDAQ: MSFT): 57% gain in the options

Receive a risk-free trial to Technical Trader and save 50% by clicking here now!

There were no new trades in the Success Trading Group this week.

Still, now is a good time to become a member of the Success Trading Group. The system is geared towards bringing you consistent, short-term gains of 5-10% and you can expect four to six trades every month.

To receive a risk-free trial and save 50%, click here now!

3. Covered Call Options Play

The Lovesac Company (NASDAQ: LOVE) — The Lovesac Company is currently trading at $72.34. The Dec. 17 $75 Calls (LOVE20211217C00075000) are trading at $5.00. That provides a return of about 12% if LOVE is above $75 by the expiration.

Learn more about our Covered Call Tables here!

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