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Weekly Position Updates / Extreme Trade Updates (2/26/19)

Extreme Trade Updates (2/26/19)

February 26, 2019

Here’s what we continue to hold as of February 26, 2019:

AbbVie Inc. (ABBV) stock — $80.26
ABBV April 2019 80 call — $3.35
ABBV April 2019 82.50 call — $2.15

ABBV is just beginning to push higher after gapping unfairly lower from $88 to $77.  Hold with a near-term price target of $86.

Johnson & Johnson (JNJ) stock – $135.05
JNJ April 2019 135 calls — $3.80
JNJ April 2019 140 calls — $1.60

JNJ is another pharmaceutical giant that’s just beginning to push higher.  We have a near-term price target of $146, which would refill its bearish gap from December 2019.

Amgen (AMGN) stock – $187.15
AMGN March 2019 195 calls – $1.40
AMGN March 2019 200 calls — $0.50

Amgen also looks to refill its bearish gap at $197.50, near-term.  Hold.

Apple Inc. (AAPL) — $168.85
AAPL March 15, 2019 170 calls — $4.55

We recommended these two trades the other week.  Both remain on hold at this time, as shares of Apple trade at $174.21.

Activision Blizzard Inc. (ATVI) — $46.87
ATVI May 17, 2019 47.50 calls — $3.60

ATVI is our train wreck trade. It went against us so far, but we continue to hold as the stock remains oversold.

NIO Inc. (NIO) — $7.78

NIO now sites at $10.30 and remains a hold after a bullish 60 Minutes report on how the company is pushing to become a bigger lifestyle brand in China.

Bank of America (BAC) — $28.85
BAC May 17, 2019 30 calls — $1.20

BAC now trades at $29.40 and remains on hold with a $35 price target.

Axsome Therapeutics (AXSM) — $8.02

AXSM is now up to $9.27 a share.  Hold with a target of $15.

Yelp Inc. (YELP) — $35.88

YELP is now up to $37.90 a share and remains on hold, as well.

Square Inc. (SQ) — $59.55 — exited half
SQ March 15, 2019 75 calls — $3.90 — exited half
SQ March 15, 2019 80 calls — $4.05
SQ March 15, 2019 85 calls — $2.75

We took big wins on the SQ February 2019 calls in recent weeks.  We have a near-term price target of $80 on SQ.  It last traded at $77.37.

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

FPX last traded at $72.44 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 $68 and remains a long-term hold.  After breaking well above our $60 target price, we now believe it could rally to $80.

Target (TGT) — $68.50

Shares of TGT remain oversold at a current price of $72.44.  Hold.

Viking Therapeutics (VKTX) — $11.65

This stock was recommended on November 12, 2018 and remains a long-term hold.  It last traded at $8.61.

MedMen Enterprises (MMNFF) — $4.25

We recommended MMNFF at $4.25.  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 $260.50 and remains a hold.  We have a near-term price target of $280.

Raytheon (RTN) — $187.12

RTN is now trading at $185.27.  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 $31.29.

Goldcorp Inc. (NYSE:GG) — $10.84

GG now trades at $10.76 and remains a hold with a price target of $15.

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 $6.42.

Kroger Company (KR) — $29.65

KR is still oversold, now trading at $28.88.  It’s a hold at the moment.