It seems like it has been FOREVER since we have had a FULL 5 day week of trading…but we’re BACK to full time. FINALLY!! Massive slate of earnings reports all week long, including: NFLX, TSLA, LRCX, JNJ, IBM, V, VZ, LMT, and more.
(Earnings calendar is posted in the end of this stack.)
WE HIT MONSTER TRADES - BRING YOUR FRIENDS!!
Once again, Lotto Friday was amazing! INTC was the biggest winner of the stack: Three 48c contracts on Friday for .02 paid for your ANNUAL subscription!! $6 to cover a year of the stack!?! Hopefully some of you followed this, LLY, MCD, and others from Friday’s stack!
I did say INTC can see over 1000% gains on Friday…BOOM!!!!
My thoughts ahead of this week:
Last week was dominated by chips, and we may still see a higher move to begin the week. I am approaching this week with enthusiastic caution: we have the indices at all time highs and no real guide as to where we are heading. With that in mind, I plan to take profit quickly this week and will be wary of a rug pull, especially with GDP & PCE numbers coming out on Thursday and Friday, respectively. There will be plenty of trading opportunities, just be patient, follow your trading rules, and wait for your setups.
Let’s get to the charts.
SQ
SQ 0.00%↑ broke out of this falling wedge to end the week. What stuck out to me besides the chart was the 27k volume on the weekly 71c that came in on Friday for 1/26/24 expiration. I will be checking at open to see if the volume stuck. I’m looking at calls
Keep reading with a 7-day free trial
Subscribe to PRIME PICK$ to keep reading this post and get 7 days of free access to the full post archives.