Sunday, October 14, 2018

Relief Bounce -- Or More -- Starts (Weekend Newsletter)

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Weekend Newsletter for
October 14, 2018


Table Of Contents

1) MARKET SUMMARY from THE DAILY

2) STOCK SPLIT REPORT

3) IH ALERTS

4) SUCCESS TRADING GROUP

5) COVERED CALL SERVICE

      

Jon Johnson
1) MARKET SUMMARY
         > >From "The Daily" by Jon Johnson at InvestmentHouse.com


Friday finally brought a bounce and some impressive percentage advances.

- Relief bounce -- or more -- starts.
- Even with the upside the move shows its fragility when Kudlow questions a Trump/Xi meeting.
- Thus far showing indications of a relief bounce -- but they all usually do.
- Three possibilities off this bounce.
- Some good moves, some not very good moves, small caps lag.
- Playing this move, planning now for the next move.


Market Summary (continued)
Friday finally brought a bounce and some impressive percentage advances -- at least on some indices -- but it was not a sure bet.

Stocks gapped upside in relief. Each financial station or website gave credit to its pundit for calling the bounce. Massively oversold, down/up volume ratios, percentage down volume -- all were pretty extreme and it was just a matter of when the bounce triggered.

Even so, it was no done deal. Stocks gapped nicely with NASDAQ gapping to the 200 day MA, SP500 gapping just over, while DJ30 and NASDAQ 100 gapped nicely above that key level. RUTX, SP400, and SOX? Ha ha ha. They gapped upside for sure but they are so far over the hill from the 200 day they can barely see the hump.

Further, the bounce showed fragility. The prior day or two the talk was that Trump and Xi would meet at an upcoming gathering of many world leaders. Friday right around 11:00ET, Larry Kudlow said it was not '100% decided' that Trump and Xi will meet. The market did a Peter Pan over the next 1.5 hours, the Dow wiping away a 400 point gain and even turning negative, RUTX and SP400 turning red as well. The other indices did not hit red, but they gave up huge chunks of their gap gains, indeed the majority of the gains.

Stocks caught a bid on that selloff, however. Apparently still as oversold as of the Thursday close (and indeed most were), stocks bounced, tested into 2:30ET, then rallied straight up into the close. Sighs of relief, back slapping on the financial stations as their pundits were not to be humiliated -- at least not that day. All's well that ends well in the prepackaged media world I guess.

Read "The Daily" Entire Weekend Summary
Watch Market Overview Video
Watch Technical Summary Video
Watch Next Session Video


Here's a trade from "The Daily" and insights into our trading strategy:


Chart by StockCharts.com
Please turn on your ability to receive graphics. We are providing you with a detailed chart of this stock. If you are unable to turn on graphics, please CLICK HERE or on the *Read Our Weekend Report Online* link above.


CGC (Canopy Growth Corp.--$45.74; -3.11; optionable): Marijuana grower
Company Profile
EARNINGS: 11/14/2018
STATUS: Pennant. A rally from mid-August to early September followed by the current 6 week pennant at the 20 day EMA. Note the low volume the past three weeks as CGC worked laterally in a tight range. These stocks needed a breather and this is a good job of doing just that. Ready to play a new break higher on some volume.
CHART VIDEO
Volume: 10.37M Avg Volume: 16.651M
BUY POINT: $51.01 Volume=12M Target=$62.97 Stop=$47.44
POSITION: CGC JAN 18 2019 50.00 C - (59 delta) &/or Stock

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2) STOCK SPLIT REPORT

Playing stock splits can be very profitable, but it takes know-how. Our stock split service focuses on three main types of plays:

1) pre-announcement (where we forecast an upcoming split prior to the company making the announcement); 2) pre-split (these plays are made in the days leading up to the actual split day); and 3) post-split plays (plays made after the actual stock split where the stock is showing continued or renewed strength).

Listen to Stock Split Report Editor Jon Johnson's
stock split interview on CNBC-TV [ View Here ]



Here's a leader play and our current analysis.

Chart by StockCharts.com
Please turn on your ability to receive graphics. We are providing you with a detailed chart of this stock. If you are unable to turn on graphics, please CLICK HERE or on the *Read Our Weekend Report Online* link above.
HEAR (Turtle Beach Corp.--$20.61; +2.60; optionable): Telecom
Company Profile
EARNINGS: 11/05/2018
STATUS: Impressive run from early May to early August, moving up 4x. Faded into mid-September, bounced, then faded to Wednesday last week, putting in a short double bottom. Big volume Thursday on a gap and fade, then a big volume Friday move higher to the 50 day EMA. We want to play a continued move up through the 50 day EMA for a run to some resistance near 25 to 26 as the initial target. Nice setup, ignoring the selling, just building its pattern.
CHART VIDEO
Volume: 3.711M Avg Volume: 1.6M
BUY POINT: $21.24 Volume=2.2M Target=$25.64 Stop=$19.75
POSITION: HEAR JAN 18 2019 20.00 C - (62 delta) &/or Stock

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Chart by StockCharts.com
Please turn on your ability to receive graphics. We are providing you with a detailed chart of this stock. If you are unable to turn on graphics, please CLICK HERE or on the *Read Our Weekend Report Online* link above.
3) IH ALERTS

ROST (Ross Stores--$95.87; +1.55; optionable): Discount retailer
Company Profile
EARNINGS: 11/22/2018
STATUS: After a solid rally from early August through September, ROST is testing the 50 day MA the past week. It rode out the selling with a low volume fade to the 50 day, then holding it through Friday. We want to play a bounce up off this level for a run to near 104 and a 65+% gain on the call options.
CHART VIDEO
Volume: 2.984M Avg Volume: 3.081M
BUY POINT: $96.48 Volume=4.5M Target=$104.31 Stop=$93.89
POSITION: ROST JAN 18 2019 95.00 C - (56 delta)

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Chart by StockCharts.com
Please turn on your ability to receive graphics. We are providing you with a detailed chart of this stock. If you are unable to turn on graphics, please CLICK HERE or on the *Read Our Weekend Report Online* link above.
4) SUCCESS TRADING GROUP
--by the MarketFN STG Team

OI (Owens-Illinois, Inc.)
Company Profile
Our Success Trading Group will be watching closely for entry points next week on some of our favorite stocks such as Owens-Illinois, Inc. (Ticker: OI) and Bank of America Corporation (Ticker: BAC).

Our Success Trading Group closed
7 years with 0 losses on our Main Trade Table. In fact, we closed 100% winning trades for the calendar years 2016, 2015, 2013, 2012, 2011, 2010 and 2009 (we still have 1 open position from 2017 (all others were winners) and 1 trade that we opened in 2014 was closed as a losing trade). All of these trades are posted on our Main Trade Table for your review during your free membership trial period.

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Chart by StockCharts.com
Please turn on your ability to receive graphics. We are providing you with a detailed chart of this stock. If you are unable to turn on graphics, please CLICK HERE or on the *Read Our Weekend Report Online* link above.
5) COVERED CALL PLAY

PBR - Petroleo Brasileiro S.A.-Petrobras is currently trading at $15.35. The November $15.00 Calls (PBR20181117C00015000) are trading at $1.28. That provides a return of about 7% if PBR is above $15.00 on expiration Friday in November.
Company Profile



Learn more about our Covered Call Tables


PREMIUM SERVICES
IH Alerts: InvestmentHouse.com's Best of The Best Plays!
Stock Split Report: Forbes.com Best of the Web
Covered Calls: Allowed in your IRA - Energize your portfolio!
The Daily: "The Daily" is a must read for all investors!
Success Trading Group: 7 years without a trading loss!
The foregoing is commentary for informational purposes only. All statements and expressions are the opinions of Online Investment Services, LP., or Split Ventures, Ltd. This information is not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on the related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolios of writers for this issue may, in some instances, include securities mentioned herein and on the related web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors. No one associated herewith receives compensation in any manner from any of the companies that are discussed in this newsletter or on the related websites.
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