4/3/22 CCJCameco Corporation (NYSE:CCJ)
Sector: Non-Energy Minerals (Other Metals/Minerals)
Market Capitalization: 11.562B
Current Price: $29.03
Breakout price: $30.00
Buy Zone (Top/Bottom Range): $27.10-$24.65
Price Target: $34.80-$36.00 (3rd)
Estimated Duration to Target: 150-160d (3rd)
Contract of Interest: $CCJ 9/16/22 35c
Trade price as of publish date: $2.55/contract
IWM
4/3/22 BXBlackstone Inc. ( NYSE:BX )
Sector: Finance (Investment Managers)
Market Capitalization: $153.312B
Current Price: $128.13
Breakout Price: $135.00
Buy Zone (Top/Bottom Range): $127.15-$117.00
Price Target: $139.35-$140.80 (1st), $149.60-$151.00 (2nd)
Estimated Duration to Target: 74-77d (1st), 147-150d (2nd)
Contract of Interest: $BX 6/17/22 130c, $BX 9/16/22 130c
Trade price as of publish date: $6.65/contract, $9.50/contract
Another IWM false breakout?The Russell 2000 tricked longs back in the fall of 2021 and that "false breakout" led us to a breakdown.
Once again, the break back above the 209.50 level this week may have led to another "false breakout." Can we see a move to the 188.00 level and beyond?
I think bulls have something to think above. Fool me once.
Perfect Retracement for Small Cap Index The Russell 2000 index $IWM retraced and bounced perfectly off the 38% fibonacci level. Actually it bounced twice, which created a double bottom at the 38% retracement level. This strong level of support suggests the bottom may be in and small caps may start to lead the market up again.
3/27/22 DEDeere & Company ( NYSE:DE )
Sector: Producer Manufacturing (Trucks/Construction/Farm Machinery)
Market Capitalization: $133.896B
Current Price: $436.45
Breakout Price (hold above): $436.40
Buy Zone (Top/Bottom Range): $432.50-$421.20
Price Target: $448.80-$450.00
Estimated Duration to Target: 10-12d
Contract of Interest: $DE 4/14/22 450c
Trade price as of publish date: $5.55/contract
3/27/22 GFSGlobalFoundries Inc. ( NASDAQ:GFS )
Sector: Electronic Technology (Semiconductors)
Market Capitalization: $42.208B
Current Price: $78.94
Breakout Price (hold above): $77.05
Buy Zone (Top/Bottom Range): $74.35-$67.40
Price Target: $90.20-$91.60
Estimated Duration to Target: 40-43d
Contract of Interest: $GFS 5/20/22 80c
Trade price as of publish date: $7.80/contract
3/27/22 MRVLMarvell Technology, Inc. ( NASDAQ:MRVL )
Sector: Electronic Technology (Semiconductors)
Market Capitalization: $63.051B
Current Price: $74.37
Breakout Price: $75.15
Buy Zone (Top/Bottom Range): $71.80-$65.10
Price Target: $79.80-$80.80 (1st), $86.20-$88.00 (2nd)
Estimated Duration to Target: 30-32d (1st), 58-62d (2nd)
Contract of Interest: $MRVL 4/14/22 75c, $MRVL 5/20/22 80c,
Trade price as of publish date: $2.80/contract, $3.05/contract
3/27/22 NVDANVDA Corporation ( NASDAQ:NVDA )
Sector: Electronic Technology (Semiconductors)
Market Capitalization: $695.069B
Current Price: $276.92
Breakout price: $283.50
Buy Zone (Top/Bottom Range): $261.80-$240.50
Price Target: $314.80-$316.90
Estimated Duration to Target: 54-62d
Contract of Interest: $NVDA 5/20/22 300c
Trade price as of publish date: $11.65/contract
Rolling (IRA): IWM April 8th 175 Short Put to May 6th 185... for a 1.69 credit.
Comments: With only .17 left in the April 8th 175, rolling it out to the <16 delta May 6th strike paying at least 1% of the strike price in credit. Total credits collected: 4.08 (See Post Below) plus the credit received here of 1.69, for a total of 5.77 relative to the May 6th 185 short put value of 1.81, so I've realized gains of 3.96 ($396) so far.
NEXT LEG DOWN SET IWM The chart posted is one of the most important charts as it s decline was a perfect A=C IN A ABC TO .382 I have a panic cycle to start and be in full force on march 25th and the bottom for this year in the bear market is due april 7/10 date I have moved out of ALL LONGS ACROSS THE INDEXES AND I am now 100 % short sp 4511 and qqq at 354.6
3/20/22 TQQQProShares UltraPro QQQ ( NASDAQ:TQQQ )
Sector: Miscellaneous (investment Trusts/Mutual Funds)
Market Capitalization: $--B
Current Price: $53.17
Breakout price: $52.40
Buy Zone (Top/Bottom Range): $50.15-$40.85
Price Target: $67.30-$68.80
Estimated Duration to Target: 40-44d
Contract of Interest: $TQQQ 4/29/22 55c
Trade price as of publish date: $4.20/contract
3/20/22 RSReliance Steel & Aluminum Co. ( NYSE:RS )
Sector: Non-Energy Minerals (Steel)
Market Capitalization: $11.816B
Current Price: $191.50
Breakout price: $192.00
Buy Zone (Top/Bottom Range): $187.50-$181.50
Price Target: $209.20-$210.90
Estimated Duration to Target: 68-70d
Contract of Interest: $RS 6/17/22 195c
Trade price as of publish date: $11.30/contract
3/20/22 REGNRegeneron Pharmaceuticals, Inc. ( NASDAQ:REGN )
Sector: Health Technology (Pharmaceuticals: Major)
Market Capitalization: $74.451B
Current Price: $685.94
Breakout price: $687.00
Buy Zone (Top/Bottom Range): $660.50-$603.40
Price Target: $812.00-$816.40
Estimated Duration to Target: 125-130d
Contract of Interest: $REGN 9/16/22 700c
Trade price as of publish date: $50.35/contract
3/20/22 BTUPeabody Energy Corporation ( NYSE:BTU )
Sector: Energy Minerals (Coal)
Market Capitalization: $2.923B
Current Price: $21.88
Breakout price: $22.70
Buy Zone (Top/Bottom Range): $21.10-$19.40
Price Target: $26.60-$27.00
Estimated Duration to Target: 60-66d
Contract of Interest: $BTU 7/15/22 25c
Trade price as of publish date: $3.60/contract
Closed (IRA): IWM March 31st 178 Short Put... for a .29 debit.
Comments: I'd ordinarily roll this out to the weekly, but we don't have a May 6th expiry yet. I've already got a rung on in the April 29th expiry, so am just taking profit here. Total credits collected of 2.67. (See Post Below). Closing hour here results in a profit of 2.38 ($238).