Sunday, January 06, 2019

Has the Market Character Changed? (Weekend Newsletter)

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Weekend Newsletter for
January 6, 2019


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


The Dr. Jekyll/Mr. Hyde market displayed its extremes this week.

- Powell becomes stock whisperer by simply saying 'I'm listening.'
- Chinese RRR cut, confirmation of a US/China trade meeting warmed up stocks even before Powell.
- Boffo jobs report heralded as proof of a strong economy making ISM, PMI's, and other weakening data meaningless. Sure. Yeah right.
- As goes the first week of January? Massive downside, massive upside. Looking forward to that . . .
- Earnings are fast approaching. Before the bounce Friday it certainly looked as if investor expectations were too low.
- Some say the market character just changed. We will see this week.


Market Summary (continued)
The Dr. Jekyll/Mr. Hyde market displayed its extremes this week. After a pause in the relief move rolled over hard Thursday on the AAPL warning with DJ30 losing 660 points -- Mr. Hyde -- Friday saw Dr. Jekyll return with massive upside, the Dow rising 747 points. What looked to be a rollover and end to the relief bounce started late December rejected the selling and is trying to embark upon another upside leg. All of the indices scored massive gains from over 3% to well over 4%.

Now you will hear it was jobs, it was Powell, it was trade. Futures were sharply higher even before jobs or Powell. It was said the market was up because China and the US are having a trade meeting Monday, you know, the one they said three weeks ago they were going to have. Apparently just recycling a headline ahead of the event is enough for a good news hungry market.

The market was already primed to rebound. This even with jobs much, much stronger than expected. You would think that would spook stocks fearing a Fed hiking rates. It did, a bit, as futures sold back from their highs on the report. It was strong, but in examining the numbers, remember that jobs are lagging -- they trail the rest of the economy, continuing to rise as the economy has already started to falter. EXACTLY what is going on now.

Read "The Daily" Entire Weekend Summary
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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.


AMZN (Amazon.com, Inc.)
Company Profile
AMZN was back for more gain on the week. We entered AMZN on 12/26, the day after Christmas, with some February $1400 strike calls for $113.55. It was a good entry off that doji at the low as AMZN has been upside all but two sessions. Friday AMZN rallied up near the 50 day EMA, hitting our initial target. We banked half of our position, selling the calls for $215.00, banking a nice 89%.

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2) STOCK SPLIT REPORT

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.
MITK (Mitek Systems--$10.86; +0.19; optionable): Software
Company Profile
EARNINGS: 01/31/2019
STATUS: Late December, early January MITK broke to a higher high, clearing the mid-2017 peak. Nice strong move, then a quick test Thursday when everything sold. MITK, however, fell to the 20 day EMA and rebounded to hold the 10 day EMA on the close. Friday not really participating, and that gives us an entry. If MITK breaks higher from here we are ready to enter off this breakout test.
CHART VIDEO
Volume: 458.537K Avg Volume: 456.132K
BUY POINT: $10.94 Volume=650K Target=$12.58 Stop=$10.39
POSITION: MITK FEB 15 2019 10.00C - (68 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

OKTA (Okta Inc.--$63.15; +3.59; optionable): Cloud services
Company Profile
EARNINGS: 03/06/2019
STATUS: Kind of a jagged, ragged pattern after the early September peak, but the idea is the same: working along support, using the 200 day SMA the past 3 months as it bounced along the lows in the pattern. After a sharp drop to the 200 day SMA and an equally sharp recovery to end the year, last week OKTA tested the bounce, working laterally. Fended off the Thursday selling with a Friday rise on stronger volume. As OKTA breaks higher we want to play a move up near 75, the prior peaks. Totally doable.
CHART VIDEO
Volume: 1.934M Avg Volume: 2.475M
BUY POINT: $64.73 Volume=3.2M Target=$74.89 Stop=$61.33
POSITION: OKTA FEB 15 2019 65.00C - (50 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.
4) SUCCESS TRADING GROUP
--by the MarketFN STG Team

CAT (Caterpillar, Inc.)
Company Profile
Our Success Trading Group members will be looking to enter new positions next week. We have many stocks on our radar including Caterpillar, Inc. (Ticker: CAT) and Kimberly-Clark Corporation (Ticker: KMB).

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

GOLD - Randgold Resources Ltd. is currently trading at $13.09. The February $13.00 Calls (GOLD20190216C00013000) are trading at $0.71. That provides a return of about 5% if GOLD is above $13.00 on expiration Friday in February.
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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