Invest and Trade Profitably with Jon Johnson

Weekender For 3/20

1. Market Summary

Excerpted from Thursday’s paid content of Investment House Daily.

Soft Start on Some War-Related Headlines

– There was a soft start on some war-related headlines, but stocks recovered with a low-to-high move.
– The S&P 500 and the DJ30 rose to the 50-day moving average (MA), as the market makes an important test of resistance.
–The bond yield curve is steep on the very short end and then very flat from the two-year bond and up.
– After a short hiatus, other markets have resumed their pre-stock bounce trends. Will stocks do the same?

Stocks decided to party for another session, given that it was St. Patrick’s Day, though the action was more muted. A bullish low-to-high intraday move overcame lower futures to post index gains that were at near or over 1%. The move took the S&P 500 and the DJ30 to the 50-day MA, while the S&P 400 and Russell 2000 (RUT) moved through it. On the other hand, the Nasdaq and the PHLX Semiconductor Sector (SOX) lagged, adding to their moves over the 20-day exponential moving average (EMA) after a gap lower. Even so, they are still well off of the 50-day MA.

NOTE: The figures and information above are from the 3/17 report.

Watch the Investment House Videos For This Week Here!

NOTE: The videos are from the 3/16 report.

2. Targets Hit

As the market set up for a transition from some selling to a rebound rally, we saw a shift coming to where the recent leaders would test, and the stocks that had suffered the most selling pressure would rebound. Accordingly, we took profits on those trades in Investment House Daily.

Harmony Gold Mining Co. (NYSE: HMY): 18% gain in the stock, 90% gain in the options.

PBF Energy Inc. (NYSE: PBF): 29% gain in the stock, 115% gain in the options.

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With the market poised for a counter-trend, we continued to bank gains in Technical Trader Alert during the early part of the week, ahead of the market’s decision to turn a corner.

Fluor Corp. (NYSE: FLR): We took the rest of the 95% gain in the options.

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There were no 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

Progyny Inc. (NASDAQ: PGNY) — Progyny Inc. is currently trading at $48.42. The April 15 $50 Calls (PGNY20220415C00050000) are trading at $2.15. That provides a return of about 9% if PGNY is above $50 by the expiration.

Learn more about our Covered Call Tables here!

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