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Weekly Position Updates / Extreme Trade Updates (1/14/19)

Extreme Trade Updates (1/14/19)

January 14, 2019

Overall, we have a good deal of open positions at the moment, and continue to hold most.  We’ve also been a bit cautious on issuing a great deal of new trades given the sizable volatility on the markets, especially after the massive decline on the Dow we saw in December 2018.

It’s better to be safe, and pick out the right trades in this market, than risk picking out garbage that sinks the second you buy it.  I don’t know about you.  But I’d rather be safe in this market right now.

Here’s what we continue to hold.

Square Inc. (SQ) — $59.55
SQ February 2019 60 calls — $4.65

Shares of SQ have been pushing higher in recent days, last trading at $64.85.  That also pushed the calls above $8.  Hold both trades.

First Trust US IPO Index Fund (FPX) — $63.45

FPX last traded at $66.09 and remains a long-term hold, as we near some of the year’s most anticipated IPOs, including Lyft.

Etsy Inc. (ETSY) — $50.67

The stock now sits at $51.46 and remains a long-term hold.  We have a price target of $60, near-term.

Johnson & Johnson (JNJ) January 18, 2019 130 put — $4.25 — exited half
JNJ February 15, 2019 130 put — $6 — exited half

Johnson & Johnson continues to plummet following the Reuters story on asbestos claims.  We recommended these two positions after closing out the JNJ December 145 put for more than 405% returns.  The JNJ January 2019 130 put ran from $4.25 to $8.35 the other day, where we exited half of the position.  The JNJ February 2019 130 put ran from $6 to $9.62, where we also exited half of the position.  Hold the second halves of each a bit longer.

Target (TGT) — $68.50
TGT January 2019 70 calls — $2.75

The stock now trades at $69.21.  Both positions remain on hold at this time.

Activision Blizzard (ATVI)– $50.55
ATVI January 2019 52.50 calls — $2.35

While the stock did pull back to $46.64 in recent days, we continue to hold.  It’s still aggressively oversold at this time.

Viking Therapeutics (VKTX) — $11.65

This stock was recommended on November 12, 2018 and remains a long-term hold.  It last traded at $8.20.

MedMen Enterprises (MMNFF) — $4.25

We recommended MMNFF at $4.25 as we near Canadian legalization.  After testing $5.72, it has since pulled back to $3.30.  Continue holding with a long-term target of $10.

Adobe Systems (ADBE) — $248.96

The stock now sits at $235 and remains a hold.  We have a near-term price target of $280.

Raytheon (RTN) — $187.12

RTN is now trading at $158.23.  Hold the stock with a near-term price target of $210.

Twitter (TWTR) — $32.68

Hold the stock.  It’s aggressively oversold at a current price of $32.50.

Barrick Gold (NYSE:ABX) — $10.25
ABX January 18, 2019 10 calls — $1.01 — exited half

Let’s exit the ABX trades for a win.  The stock now sits at $16.70 from our $10.25 entry price.  The calls are now up to $3.55.  Exit both trades to secure a win.

Goldcorp Inc. (NYSE:GG) — $10.84
GG January 18, 2019 11 calls — 78 cents

The stock is down slightly at $10.82.  We continue to hold on oversold conditions.

OrganiGram Holdings (OTC:OGRMF) — $4.98

As the marijuana story heats up on corporate interest and Canadian legalization, stocks such as OGRMF should continue to push higher.  It last traded at $4.90.

Kroger Company (KR) — $29.65

KR is still oversold, now trading at $28.34.  It’s a hold at the moment.