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Chart of Day: Do you have a crystal ball?

Mar 22, 2017

That’s the question I was just asked.

Mine happens to be in the shop, though.

I was asked that because of my call on beaten down shares of SNAP, which I highlighted here on March 21, 2017 when it was at $20.26. The same stock I was ridiculing at $29 a share I was now recommending a long position on.

But how could I ignore it. Analysts were turning bullish and technically it appeared to have bottomed out. Look at the Chart of Day under this month to see. Anyway, if you were able to buy it yesterday, you enjoyed the $1.44 rally to $21.82 today. It’s up another 44 cents or so in after hours.

Point is – never ignore even the most hated stocks. You’ll miss out on the rewards.

Chart of Day: Buy the Most Hated Stocks

Mar 21, 2017

Right out of the gate, shares of SNAP didn’t stand a chance.

In fact, we told you that on multiple occasions, given the poor balance sheet full of losses and a host of other issues. The stock slipped under its IPO price. Traders got burned on the way down. Typical IPO trading…

Now that it’s become another hated stock, it’s actually time to buy the stock that we wrote off as unworthy. For one, every one hates it. Two, it appears to have technically found its bottom as the rest of the market sells off 200 points. And three, the stock finally got its first buy rating from analysts at Moness, Crespi, Hardt, which initiated the rating with a $25 price target.

It may not be the best trade on the market at the moment. But it’s worth picking up, as others wake up to the upgrade news.  It's a long-term buy at market prices.

Chart of Day: Century Aluminum pays out, too

Mar 20, 2017

On the evening of February 20, 2017, we recommended taking a short position in CENX by buying to open the June 15 put around $2. Shortly after, the underlying CENX stock began to slip to $12.40 a share, which has now forced the put to a current price of $3.25. Sell to close to secure the win.

Technically, the stock now appears to be oversold with reversing RSI, MACD and Money Flow (MFI). Should $12.41 hold as support, the stock could rebound to test a previous high of $15.61. Consider buying to open the CENX May 12 call and, or the May 13 call at market prices.

Chart of Day: A Hated Stock Explodes

Mar 20, 2017

It’s almost laughable.

All of a sudden every one hated NVDA after exploding as well as it did last year. Analysts began to downgrade the stock for ridiculous reasons. It became one of the most hated stocks on the Street.

However, once it fell to $98.85, we jumped all over it.

In fact, on March 9, we recommended buying the May 100 call as it traded at $6.50. It’s now up to $12.70. Sell to close half. We also recommended buying to open the NVDA May 105 call at $4.40. It’s now up to $9.50. Sell to close half.

We come across easy wins like this all the time. Are you participating?

Chart of Day: Tesla Pays Off Fast

Mar 19, 2017

That was easy.

On February 28, after watching Tesla (TSLA) take it on the chin, post-earnings, we recommended taking a position in the TSLA April 250 call. We also recommended selling the April 250 put for a credit of $15 at the time.

At the time, the underlying stock traded at $248. It’s now up to $261.50.

If you took the advice, you had the opportunity to buy the April 250 call around $12. It’s now up to $16.35. Sell to close. And, if you sold the April 250 put around $15 you’re already seeing a respectable gain as the put now trades at $5.80. Note: when you sell a put, you collect the premium with the hope the put expires worthless, allowing you to keep the premium.

Again, by simply running into a hated stock, post-earnings on oversold momentum indicators, we made easy money.

 

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