1. Market Summary
Mega-Cap NASDAQ Stocks Explode
The tech rush higher continued on Thursday, with the NASDAQ leading, even over PHLX Semiconductor Sector (SOX), as market participants rushed into the big NASDAQ names. If the Federal Open Market Committee (FOMC) is now close to pausing/reversing its action, these stocks will benefit.
Indeed, bonds are rallying as well, up for the past six weeks; if in doubt, bonds typically are where you look for the answer. Bonds rallying and yields falling indicate that it is possible the Fed is near the end of its tightening. Thus, with the Fed possibly nearing the end of tightening (but does that mean loosening?) and META’s earnings apparently washing away all the sins of an atrocious earnings season prior to it’s report, there were again lots of buyers, and they were buying big tech after snapping up semiconductors on Wednesday.
NOTE: The figures and information above are from the 2/2 report.
Watch the Investment House Videos For This Week Here!
NOTE: The videos are from the 2/1 report.
2. Targets Hit
Investment House Daily:
As we saw some tech stocks showing accumulation, still anticipating a Fed pivot, pause or something to take the pressure off, we chose to enter as the opportunity arose. We also continued to pick up the more traditional leaders in this move, the metals and the like, making money on them as well. Below are some trades we banked this week:
Amazon.com, Inc. (NASDAQ: AMZN): 108% gain in the options
Cemex SAB de CV ADR (NYSE: CX): 16.7% gain in the stock, 66% gain in the options
NVIDIA Corporation (NASDAQ: NVDA): 109% gain in the options
Opendoor Technologies Inc. (NASDAQ: OPEN): 42% gain in the stock
Rambus Inc. (NASDAQ: RMBS): 42% gain in the options
Companhia Siderurgica Nacional SA (NYSE: SID): 21.75% gain in the stock
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Technical Trader Alert:
It was fun to play some big tech again — some not so big tech as well! There was some fast action on the week, as money that was steadily moving into techs started to surge. We saw it coming, got positioned and then let the crowd carry our plays higher. The following are some gains taken this week:
First Solar Inc. (NASDAQ: FSLR): 50% gain in the options
Louisiana-Pacific Corp. (NYSE: LPX): 107.9% gain in the options
Qorvo Inc. (NASDAQ: QRVO): 140.9% gain in the options
Tesla Inc. (NASDAQ: TSLA): 65.4% gain in the options
Workday Inc. (NASDAQ: WDAY): 74.4% gain in the options
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Rapid Profits Alert:
Stocks from many sectors are moving, and as they show good patterns and can make us money timely, we are picking them up. Below are a few of the trades we made this past week:
Cemex SAB de CV ADR (NYSE: CX): 9.34% gain in the stock
Opendoor Technologies Inc. (NASDAQ: OPEN): 18.45% gain in the stock
OraSure Technologies, Inc. (NASDAQ: OSUR): 8.86% gain in the stock
Now is a good time to become a member of Rapid Profits Stock Trader. The system is geared towards bringing you consistent, short-term gains of 5-10% and you can expect four to six trades every month.
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3. Covered Call Options Play
Century Casinos Inc. (NYSE: CNTY) — Century Casinos Inc. is currently trading at $9.59. The March 17 $10 Calls (CNTY20230317C00010000) are trading at $0.35. That provides a return of about 17% if CNTY is above $10 by the expiration.