Extreme Trade Updates (1/22/19) — and New OpportunitiesJanuary 22, 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 — exiting half
SQ February 2019 60 calls — $4.65 — exiting half
Shares of SQ are now up to $70.45. Consider exiting half of the stock to secure partial win. The move also sent the SQ February 2019 60 calls to $11.40. Consider selling to close half of this trade.
With time decay picking up speed on the SQ February 2019 calls, let’s also buy to open the SQ March 15, 2019 75 calls at market prices. This option last traded at $3.90.
First Trust US IPO Index Fund (FPX) — $63.45
FPX last traded at $67.57 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 $53.81 and remains a long-term hold. We have a price target of $60, near-term.
JNJ February 15, 2019 130 put — $6 — exited half
The JNJ February 15, 2019 130 put now trades at $3.40. We continue to hold, anticipating further pullback in JNJ. Thankfully, we already secured partial wins on the put.
Target (TGT) — $68.50
Shares of TGT remain oversold at a current price of $70.15. Hold.
Activision Blizzard (ATVI)– $50.55
While the stock did pull back to $47.40 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 $8.10.
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 $3.10. Continue holding with a long-term target of $10.
Adobe Systems (ADBE) — $248.96
The stock now sits at $243.61 and remains a hold. We have a near-term price target of $280.
Raytheon (RTN) — $187.12
RTN is now trading at $164.01. Hold the stock with a price target of $210.
Twitter (TWTR) — $32.68
Hold the stock. It’s aggressively oversold at a current price of $32.53.
Goldcorp Inc. (NYSE:GG) — $10.84
The stock is down slightly at $10.40. 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 $4.70.
Kroger Company (KR) — $29.65
KR is still oversold, now trading at $29.35. It’s a hold at the moment.