Invest and Trade Profitably with Jon Johnson

Weekender for 5/28

1. Market Summary

NVIDIA Blasts AI Stocks Higher

  • NVDA blasts artificial intelligence (AI) stocks higher. Everything else, not so much.
  • Debt ceiling still working through the process, Speaker McCarthy’s actions suggest a deal is close to sealing for June 1.
  • Money markets still getting more money, Fed still lending more money.
  • Market is going all-in on AI in addition to the mega-techs.
  • Periphery techs will start getting more money as the move continues as not all dollars can go into a handful of stocks.
  • Seen this before, e.g. late 1990s into 2000 — lots of money can be made in the rush to celebrate the next big technology … before it busts.

NVIDIA’s  50% better-than-expected results surged the stock 25%, taking the AI-related stocks with it. Thus, Microsoft, Meta, Palantir et al. rallied, as did some chip stocks that may or may not have anything more than a tangential relationship to AI, e.g., Advanced Micro Devices.

NOTE: The figures and information above are from the 5/25 report.

NOTE: The video is from the 5/24 report.

P.S. Come join me, some of my Eagle colleagues, and more than 30 other speakers at the Annual Summer Market Summit.  This virtual event is from June 5 through June 8. Click here now to sign up for this free, virtual event! See you there!

P.P.S. Come join me and my Eagle colleagues on an incredible cruise! We set sail on Dec. 4 for 16 days, embarking on a memorable journey that combines fascinating history, vibrant culture and picturesque scenery. Enjoy seminars on the days we are cruising from one destination to another, as well as dinners with members of the Eagle team. Just some of the places we’ll visit are Mexico, Belize, Panama, Ecuador and more! Click here now for all the details.

2. Targets Hit

Technical Trader:

A busy week as saw some of the drugs/biotechs started peaking out, retail continues to struggle and the big tech/AI surge gave us profits from many areas.

ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD): Surged higher for more than a week, and we banked a solid 107% gain in the options. Inc. (NYSE: AI): Playing AI again after a good setup started it higher. A good move into the NVDA numbers and a bit of a pop on those results hit our target, and we banked some of the 73% gain in the options.

Advanced Micro Devices, Inc. (NASDAQ: AMD): Another stock with a great pattern setup and in a sector getting good news. AMD surged on the NVDA results, even though they are not really related, and we banked half the 111% gain in the options on May 25 and another half of the 181% gain on May 26.

Etsy Inc. (NASDAQ: ETSY): We banked a 52% gain in the put options as ETSY continues trending lower. Left some on the table to capture more as the downtrend is pretty entrenched.

Fortinet Inc. (NASDAQ: FTNT): FTNT gamed its way to our initial target early week, hitting the March-April peaks from 2022. We banked half the 40% gain in the options and will see if the stock surges again after a test.

Meta Platforms Inc. (NASDAQ: META): Banked a solid 54% gain in the options as it continued higher with the AI group.

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Rapid Profits Stock Trader:

Banking some profits in the biotech area as their near term move peaked out — as well as an AI stock with a ticker listed as AI.

ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD): 15.6% gain in the stock Inc. (NYSE: AI): 23.5% gain in the stock

Geron Corp. (NASDAQ: GERN): 9.52% gain in the stock

Omeros Corporation (NASDAQ: OMER): 7.11% 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

Lattice Semiconductor Corp. (NASDAQ: LSCC) — Lattice Semiconductor Corp. is currently trading at $77.16. The July 21 $80 calls (LSCC20230721C00080000) are currently trading at $4.20. That provides a return of about 10% if LSCC is above $80 by the expiration.

Learn more about our Covered Call Tables here!

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