An old saying on Wall Street is that you should never short a dull market.
After a slow start, the bulls have powered their way higher and are pushing new highs on the indexes. There is plenty to talk about and we have been super busy so let’s go over some numbers real quick.
The Dow is down 4 points to 13,267 while the S&P 500 is higher by 2 points to 1,420. The S&P has traded up to 1,426 today which is a new 52-week high. We have been calling for a push to 1,425 which should clear the way for a run to 1,450.
The Nasdaq is flat and is at 3,076 but has traded up to our 3,100-3,150 target. Apple (AAPL, $657.08, down $8.07) tagged another 52-week high of $674.88 but has reversed course as we head into the second half of trading.
We were able to lock-in profits on the surge to new highs as a number of our call option trades are showing sweet profits. We also took advantage of today’s pop to lock-in profits because we are still in a dangerous and tricky market.
With that said, we are also recommending 2 more new trades as we are closing another 2 trades that aren’t moving as fast as we would like but are still profitable.
Subscribers, check the Members Area for the updates and make sure you use limit orders to get the best fills. We will be back in the morning with a full report.