Coming off a good week for tech last week and a lot of big tech companies had above par earnings. Prices shot up and more than one stock is showing overbought across many indicators. I've set a few new alerts this weekend for the Discord and anticipating another good week.
Last week was one of the better weeks for my options picks and I really enjoyed the working with Trend Spider and getting the alerts set for the Discord group.
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Reminder of Last Weeks Picks:
$FB Put +35%
$SOXX Call +40%
$NAIL Call +24%
$TTWO Call +30%
$GPS Call +20%
$XLK Call +15%
$SOXX Call +18%
$OKTA Call +22% (ongoing)
$NAIL Commons -7% (ongoing)
REMEMBER: Make sure to take profits! Its better to take a little off the table then none.
Join the Discord to get the alert notifications in real time. The VIP group is still FREE even though I put a lot of work into writing the blogs, making videos and setting up the alerts everyday. My goal is to get everyone started on their own Journey to $1 Million.
$ZM had a good last week, but now the Stochastic Oscillator and RSI are showing over bought, plus we have resistance and a big volume shelf coming up. I'd prefer short term puts here. I will wait for a confirmation resistance candle that ZM is indeed pulling back and consolidating around the 50MA. Once that happens, I like monthly puts to $345.
$SHOP I am a buyer at either the 50 or 180MA. There is bigger support there; big volume shelf and heat map shelf. You can also wait until lower support. My advice is to go small here if you are buying at the 50. Once it does bounce on the support, I like monthly calls to $1250.
ADBE is currently showing overbought and once we can see that it is indeed pulling back and consolidating towards support and get that confirmation candle, I like $540 puts. Overall, I along with basically all analyst are bullish long term on Adobe, however after the run up last week, plus ADBE is forming a flag between current resistance and support levels, I believe there is money in short term puts. Again, I would go small on any current puts on these tech stocks that just came off of good earnings.
NFLX is over sold and currently on support plus a big volume shelf that shows interest in buying. If I can get a confirmation bounce off of support, I hope to see an alert in the Discord for a $500 monthly call or vertical spread here.
Waiting for set ups to trigger on the following before entering options:
"The stock market is a device for transferring money from the impatient to the patient." -- Warren Buffett.
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