ANNOUNCEMENT: Tomorrow Tuesday Aug 1st @ 12pm EST you can join me for a free trading / training session in the Alpha Hunter chat room.
Complimentary to attend -> we will be going over some new trades so bring your questions and notepad. ?
Just click this link, and you can instantly join me at noon EST tomorrow (no download or passwords needed).
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I feel sorry for all the bears out there.
Everything did look a bit bleak earlier in the year – inflation, interest rate hikes, etc. But when the charts turned bullish earlier in the year, so did I.
Honestly, I can’t believe some people still think we’re in a bear market.
Folks, “The trend is your friend,” as they say.
Ignore that, and you’ll get crushed.
Sure, earnings aren’t great. They’ve been a bit hit or miss, but the contraction everyone was predicting just hasn’t played out.
So how do I think this week could play out?
?Numbers I Need:
As I mentioned in my morning email to Bullseye Trade subscribers, almost everything that’s been running is oversold and overextended.
We haven’t had a pullback of 1% on SPY in over a month.
Absolutely, but markets can stay overbought for a long time.
Remember the old adage, “Markets can remain irrational longer than you can remain solvent.”
Trade what you see on the charts. The market doesn’t give a damn about your opinions. There’s a HUGE difference between trading to be right and trading to make money.
Right now things are still moving up…so I’m bullish.
I expect a continued slow grind and quite a bit of choppiness this week. A washing machine of up-down price action that makes directional trades difficult.
It’s the sort of environment that will chop up your calls and puts like a butcher knife.
And I don’t see much on the earnings calendar that will likely move the market except maybe Thursday.
If you’re keeping track at home, we’ve got AMZN with an expected move of 6.6% and AAPL with 7% up or down. Let’s watch and see how close those numbers get to reality.
By the way, I will teach you how to make a bet on those expected move numbers if you think they are “too high” or “too low”. There is a way to bet on that either way.
Just ask me in my next live session, which is tomorrow, Tuesday Aug 1st @ 12pm EST.
Back to my market forecast coming up… ?
Unless we get some unexpected news, I think we’ll trend sideways and up for a bit.
?Most Exciting Action:
With very little opportunity in any sector except maybe energy, I’m looking outside the box.
Tickers with a lot of short interest due for a squeeze or tight consolidation patterns about to break out.
The company I alerted for Bullseye Trade subscribers this morning is just that.
It IPO’d back in July at $22, and jumped 99% on its first day of trading. It is a rare, successful IPO this year.
Since then, it’s sold off and come back to a very tight consolidation range. It hit my Gamma Trigger signal yesterday, and I made it my top idea for this week.
It did see a 5% bump this morning, and the options I alerted to all of my Bullseye subscribers is already up nearly 50% on the day.
Not a bad way to start the day – that is, assuming you are a Bullseye member. (if you aren’t, then fix it right now! Sign up right here to make sure you don’t miss any future alerts.)
I don’t know if it will keep running or not. Trading is risky business with no guarantees, but I’m keen to see how the trade plays out.
?Past Alert Update:
Hopefully, this week’s Bullseye Trade idea will be another one like Boeing (BA) that I alerted back on June 12th.
After I sent out the following trade plan to subscribers:
Then a few days later, everything worked out just like I thought.
Again, I can’t promise you’ll make money on these. All I can do is provide top-notch education and the best set-ups I can find.
By the way, I was just looking at last week’s idea and it is now up 66% since last Monday. Not quite a 100% move, but better than a stick in the eye!
I would LOVE to have you on board.
When you join Bullseye Trades, you can look forward to my complete trading gameplan every Monday morning, covering my TOP TRADE IDEA for the week.
You’ll also have unlimited access to our training library, trading ebook “How to Become an Alpha Hunter,” and alerts on trades I make sent directly to your Raging Bull app.
Bullseye Trades isn’t just an alert service. It’s a full educational system to hone your trading skills.
Be sure to check back in later this week, and I’ll give you a full update on how this week’s Bullseye trade has worked out.
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