1. Market Summary
Big Nasdaq Names Lead the Upside
Any questions we had Wednesday night about market participants waiting through the jobs report were somewhat answered Thursday. The big-name Nasdaq stocks broke nicely higher, e.g. Amazon, Meta and Netflix. Some chips moved as well, e.g. NVIDIA (5%), Applied Materials, Inc. and ON Semiconductor Corp.
NOTE: The figures and information above are from the 6/1 report.
NOTE: The videos are from the 5/31 report.
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2. Targets Hit
Investment House Daily:
As the tech rally continued to its sixth week we were banking gains in some of the big names, as well as some of the hot categories. We banked some gains in several positions:
Amazon.com, Inc. (NASDAQ: AMZN): 45% gain in the options
Microsoft Corp. (NASDAQ: MSFT): 69% gain in the options
Palantir Technologies Inc. (NYSE: PLTR): 284% gain in the options
The market continued its move in three directions: big tech and AI up, most stocks flat, metals lower. We were taking gains in all directions.
C3.ai Inc. (NYSE: AI): 370% gain in the call options
Etsy Inc. (NASDAQ: ETSY): 97% gain in the put options
Meta Platforms Inc. (NASDAQ: META): 104% gain in the call options
Nucor Corporation (NYSE: NUE): 32% gain in the put options
Rapid Profits Stock Trader:
The AI boon continued to pay off as well as the steady performances of the biotech/drugs and software sectors. We banked some nice gain on the week in all three.
C3.ai Inc. (NYSE: AI): 56% gain in the stock
Geron Corp. (NASDAQ: GERN): 9.5% gain in the stock
ZoomInfo Technologies Inc. (NASDAQ: ZI): 7.7% 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.
3. Covered Call Options Play
Allegro Microsystems Inc. (NASDAQ: ALGM) — Allegro Microsystems Inc. is currently trading at $39.49. The July 21 $40 calls (ALGM20230721C00040000) are currently trading at $2.20. That provides a return of about 8% if ALGM is above $40 by the expiration.