1. Market Summary
Shockingly, jobless claims were flat at 208,000. In fact, they have been basically flat for three years. Hundreds of thousands of jobs lost in much of the country, yet claims remain at record lows. All of those laid off must have made so much they are now wealthy and do not have to file for benefits. As Yakov Smirnoff would say, “What a country!”
NOTE: The figures and facts above are from the 5/2 report.
MARKET VIDEOS
MARKET SUMMARY
TECHNICAL SUMMARY/NEXT SESSION
NOTE: The videos are from the 5/1 report.
2. Targets Hit
Investment House Daily:
A bit commodities-centric again as we banked some gains in the group after the techs sold off in April but were trying to rebound off that selling. That made it prime time to bank some of the oil and gas, as well as metals, positions as we looked for new positions in some tech — depending upon the quality of the bounce. This way, we rotate with the market, selling positions in sectors as they peak runs and moving into sectors as they become runs.
Century Aluminum Co. (NASDAQ: CENX): Banked the rest of a 73% gain in the stock
US Silica Holdings Inc. (NYSE: SLCA): Cashed in a very nice 23% gain in the stock, 230% in the options
Suncor Energy Inc. (NYSE: SU): Sold the options for a solid 75% gain
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3. Covered Call Options Play
Ceco Environmental Corp. (NASDAQ: CECO) — Ceco Environmental Corp. is currently trading at $22.01. The May 19 $22.50 calls (CECO20240519C00022500) are currently trading at $0.40. That provides a return of about 9% if CECO is above $22.50 by the expiration.
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