Extreme Trade Updates (1/28/19) — Big Wins and Even More OpportunitiesJanuary 28, 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 — exited half
SQ February 2019 60 calls — $4.65 — exiting half
SQ March 15, 2019 75 calls — $3.90
Shares of SQ are now up to $78. Hold the second half of the stock. The SQ February 2019 60 calls now trade at $18.35. Sell to close the second half of these calls.
The SQ March 2019 75 calls now trade at $7.80. Sell to close half of the trade to secure the win.
Once you do that, consider also adding the SQ March 15, 2019 80 and 85 calls.
First Trust US IPO Index Fund (FPX) — $63.45
FPX last traded at $69 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 $55 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 $72.40. Hold.
Activision Blizzard (ATVI)– $50.55
While the stock did pull back to $47.80 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 $8.50.
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 $3.42. Continue holding with a long-term target of $10.
Adobe Systems (ADBE) — $248.96
The stock now sits at $244.95 and remains a hold. We have a near-term price target of $280.
Raytheon (RTN) — $187.12
RTN is now trading at $167.61. 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 $33.11.
Goldcorp Inc. (NYSE:GG) — $10.84
The stock is down slightly at $10.80. 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 $4.50.
Kroger Company (KR) — $29.65
KR is still oversold, now trading at $28.15. It’s a hold at the moment.