Invest and Trade Profitably with Jon Johnson

Weekender for 2/11/2024

1. Market Summary

  • Indices close higher again with small-caps and mid-caps outperforming
  • Even with the small-caps leading, breadth remains weak
  • Jobless claims fall even as layoffs surge
  • Supply issues impact chocolate
  • Supreme Court hears 14th amendment argument
  • Steady rise on the week, not huge, likely not as much pressure to take profits ahead of the weekend

The market continues attempts to show some kind of broadening of the action. After negative Nasdaq breadth Wednesday as the small-caps watched large-cap tech advance, Thursday, a ripping short squeeze shot small-caps higher along with mid-caps, while semiconductors were strong as well. Perhaps the look of other stocks participating to the upside in a more meaningful way, but thus far those moves start then die on the vine.

NOTE: The figures and facts above are from the 2/8 report.




NOTE: The videos are from the 2/7 report.

P.S. We are excited to invite you to a free, live webinar with George Gilder on Thursday, Feb. 15, at 10 a.m. Eastern Standard Time. In this Startup Investing Masterclass, George is teaming up with Jon Medved, the founder of OurCrowd, to discuss investing in private placements. George and John Schroeter from Gilder’s Private Reserve will be interviewing the CEO of George’s latest AI startup pick… so you’ll be receiving a great startup pick just by attending! Click here now to attend this amazing event.

2. Targets Hit

Technical Trader:

This past week, the stock market spread out … just a bit.  There remain promising sectors to join the move upside, but they have balked, leaving the lifting for the bigger names. Not all just mega-cap techs — big names in other sectors as well, e.g. retail or software. We are in a few, and this past week, we banked some gains on a few.  We will keep working them while we await other areas to pitch in.

Costco Wholesale Corporation (NASDAQ: COST):  83% gain in the options

Meta Platforms Inc. (NASDAQ: META): 345% gain in the options

Synopsys Inc. (NASDAQ: SNPS): 77.2% gain in the options

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

Rapid Profits Stock Trader:

Sometimes the old ways are the best.  Sometimes mixing the old and new are best. We continue to look at what will make us money, not caring whether the stock comes from an “in” area or a forgotten one. When the pattern is right, it is right. That allowed us to bank some nice gain on the week.

Cerus Corp. (NASDAQ: CERS): 11.16% gain in the stock. A nice pick up on Feb. 6 and a sale on Feb. 9. Members of this group have stopped their descent and turned, breaking upside through the 200-day simple moving average (SMA) or other resistance.

Fastly Inc. (NYSE: FSLY): Software continues to hold gains, and we want to find those that will make new ones. FLSY did this, turning us 8.89% in the stock in short order.

Petroleo Brasileiro ADR Reptg 2 Ord Shs (NYSE: PBR): The old ways. This oil stock returned 4.22%.

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

3. Covered Call Options Play

Stoneco Ltd. (NASDAQ: STNE) — Stoneco Ltd. is currently trading at $17.97. The March 15 $18 calls (STNE20240315C00018000) are currently trading at $1.30. That provides a return of about 8% if STNE is above $18 by the expiration.

Learn more about our Covered Call Tables here!

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