Weekend Wrap Up for 06/23/2024

You are receiving this email because you signed up to receive Investment House's free e-letter Investment House Wrap Up, or you purchased a product or service from its publisher, Eagle Financial Publications. [Investment House Wrap Up] [IH Daily]( [Technical Traders Alert]( [Rapid Profits Stock Trader]( [About Jon]( In This Issue: - Market Summary - Targets Hit - Covered Call Options Play Weekend Wrap Up for 06/23/2024 by Jon Johnson Editor, [Investment House Daily]( [Technical Traders Alert]( & [Rapid Profits Stock Trader]( [1pxtrans]( Sponsored Content [7 Best Stocks for the Next 30 Days – Free from Zacks Investment Research]( This just-released Special Report reveals the 7 most explosive stocks from the list of current Zacks Rank #1 Strong Buys. Recent picks have soared as much as +43%, +45%, even +56% within 30 days, and our newest recommendations could be even more profitable. [Check the box to download this report FREE.]( 1. Market Summary [Jon Johnson] - Expiration approaches and the status quo is rattled. - DJ20 leads the upside while PHLX Semiconductor Sector (SOX) leads the downside. - Housing starts and permits bomb in May, but the Bureau of Labor Statistics (BLS) jobs report says construction gained 21,000 that month - Swiss National Bank cuts rates. - Philly Fed shows both "stag" and "flation." - Oil keeps rising, gasoline is set to surge. - Techs, chips were set to test, but some sell harder than is comfortable. - Even with the increased volatility, some old standby stocks are already setting up quite well. Tuesday, I rather casually mentioned that the Big Four looked tired. Even so, futures, particularly Nasdaq futures, were triple-digit percentages premarket. They sold from the open to early afternoon then range-traded to the close, flipping 215 points high to close. Yes, a bit tired. NOTE: The figures and facts above are from the 6/20 report. MARKET VIDEOS There were no videos this week. [If Investors Think the Stock Market is Unpredictable, Think Again]( Believe it or not, there’s a way to know what direction a stock is poised to go over a period of time… I’m talking about a technical trading technique that lets investors know whether a stock is going up…or whether it’s going down – within a rough time frame. I personally use this technique to consistently make profitable trades… And I’ve put together a short presentation with details on how investors can start taking advantage of this technique alongside me. [Click this link to view the presentation.]( 2. Targets Hit Investment House Daily: We continue watching for signs of rotation from the "Big Four" indices as I call them (S&P 500, Nasdaq, Nasdaq-100, SOX), but the money is slow to spread back out across more sectors, and even more reluctant to move into smaller-cap stocks -- not a great economic signal, but that is another story. Because of this, we faced the situation where we played more options on larger-cap stocks that often carried larger stock price tags. Thus, the options plays make a lot of sense on those stocks IF the "numbers" work, i.e., the option values are not extreme. We found some of those good patterns on good stocks with good numbers and reaped some nice reward. Micron Technology Inc. (NASDAQ: MU): 202% gain in the options Palantir Technologies Inc. (NYSE: PLTR): 11.95% gain in the stock, 74% gain in the options Ross Stores Inc. (NASDAQ: ROST): 104% gain in the stock [Receive a risk-free trial to Investment House Daily and save 50% by clicking here now!]( Technical Trader: This week started with the leading indices sitting on a solid rally. As the week progressed and a record options and futures expiration approached, we anticipated some volatility and profit-taking toward the end of the week. Thus, we were ready to bank gains as the leaders started to show some stalling ahead of expiration. Accordingly, we banked gains in several stocks across a wide sector. The common theme was that almost all were once the biggest players in their respective sectors. Applied Materials, Inc. (NASDAQ: AMAT): 72% gain in the options Chipotle Mexican Grill, Inc. (NYSE: CMG): 100% gain in the options Costco Wholesale Corporation (NASDAQ: COST): 70.3% gain in the options Silicon Motion Technology Corp. (NASDAQ: SIMO): 68% gain in the options Seagate Technology Holdings PLC (NASDAQ: STX): 50% gain in the options [Receive a risk-free trial to Technical Trader and save 50% by clicking here now!]( [Stock Watchlist Now Available [Live]]( If you want to trade smarter (not harder) and be prepared for this week's markets, then you're not going to want to miss out on this. We'll show you soon - LIVE - what [stocks & commodities may be about to explode]( in the next few days and how we can help you conquer volatility by avoiding losses. You need to be ready for any market changes, and nothing is more rewarding to us than knowing we helped you avoid potential losses. [Get in the room now]( 3. Covered Call Options Play Celestica Inc. (NASDAQ: CLS) -- Celestica Inc. is currently trading at $59.09. The July 19 $60 calls (CLS20240719C00060000) are currently trading at $3.10. That provides a return of about 8% if CLS is above $60 by the expiration. [Learn more about our Covered Call Tables here!]( About Investment House: [Investment House]( Since 1999! Our investment newsletters are designed to reduce your research time and help you invest and trade profitably. Our strategies range in risk from rather conservative covered call writing, trading blue chip stocks, all the way to speculating with options to get quick triple-digit gains. 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