It was a very choppy day with major US indices starting close to all time highs but falling by the end of the trading day. Only 1 alert triggered today and it was for BTI. My 10 page research report on British American Tobacco is available now at https://www.prostockadvice.com/vip. All VIP Supporters will get free access to all reports.
My portfolio, including option, finished mostly flat today. I am still looking for the market wide pullback in late summer/early fall. Based on the seasonality provided by Trend Spider, there is a high probability that it will be happening soon. The best advice I can give right now is to take profit on your longer term tech and growth plays, and go small if any at all into newer positions - especially options.
As we can see, August and September are some of the worst months for the US stock market when looking at the Vanguard Total Stock Market ETF. (VTI)
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Positions this Week
$COIN -0.2% (Shares)
$CAT -10.75% (Calls)
$LOGI -6% (Calls)
$ABNB -8.2% (Puts) - Will cut tomorrow if another green day for ABNB
$BTI Triggered Late, will review tomorrow.
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BTI LEAPS alert triggered. Based on my research, I am taking a long position in this undervalued tobacco company. Read more about BTI here.
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New Alerts Added
$AMZN gapped down a lot last Friday on earnings. Right now it is sitting right on top of the YTD VWAP, and I believe that this is an excellent time to enter some LEAPS. Basically all analysts are giving AMZN a 'buy' rating. I've set an alert for the 180MA. Usually, Amazon doesn't spend to much time below it.
I've adjusted my alert for $SQ. Yesterday they acquired AfterPay, a buy now pay later application, and the stock took off and blew through my previous resistance. I still think there is profit to be made from buying puts in the short term, however I am bullish long term as well as most other analysts. I personally like Square a lot more than PayPal. Therefore, I've set an alert for when the price falls to the larger volume shelf. We will see in the days to come if SQ consolidates.
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Disclaimer: The comments opinions and analysis expressed herein are for informational and educational purpose only and should not be considered as individual advice or recommendations. Prostockadvice.com is not responsible or liable in any way for opinions expressed here. This is not meant to be financial advice as we are not a licensed financial advisor.