Nasdaq Closes at Record High! Momentum Options and Easy Money Options Newsletters
Nasdaq Closes at Record High
For the traders that took off early on Friday, they were rather surprised to see a higher close following a final hour push past the morning open. The rebound off the intraday lows wrapped up another record week to higher highs and my near-term fluff targets for the major indexes. There was some chatter of Nasdaq 6,000 by the talking heads, and while that makes me a little nervous, the near-term momentum, is still favoring the bulls.
The Dow advanced 4 points, or 0.02%, to finish at 20,624 on Friday. The blue-chips traded in negative territory throughout much of the session with the low reaching 20,532. Near-term support at 20,400-20,350 held before the last minute rally to session highs. Resistance and bluer-sky territory remain at 20,800-21,000. Last week’s all-time peak reached 20,639.87.
The S&P 500 also climbed 4 points, or 0.2%, to settle at 2,351. The index tested an intraday low of 2,339 but it was a higher low than Thursday’s trip to 2,338 and all of last week. Rising support remains at at 2,325-2,300. I have talked about additional fluff and resistance at 2,375-2,400 on continued closes above the 2,350 level and where a possible short-term top might come into play.
The Nasdaq gained 23 points, or 0.4%, to close at 5,838. Tech retreated to 5,800 shortly after Friday’s open with upper support at 5,800-5,750 holding. I mentioned the index had a good shot at triggering 5,900-6,000 by March, or April, and the latter was echoed by one of my few favorite talking heads. Last week’s chart shows I was two years ahead of the Nasdaq 6,000 call and I’m still looking for a test towards this level in the coming weeks. Friday’s intraday record high reached 5838.58 on the close.
The Russell 2000 added three-quarters of a point, or 0.1%, to end at 1,399.86. The small-caps kissed 1,392 a couple of hours into trading with rising support at 1,390-1,385 holding. I mentioned this would be a key area to watch ahead of the three-day weekend and the bulls easily held fort. The index failed lower resistance at 1,400-1,425 but also went out at its session high. The lifetime peak reached 1,405 last week.
The S&P 500 Volatility Index ($VIX, 11.49, down 0.27) made a run to 12.26 on Friday’s open with lower resistance at 12.50-13.50 holding. I talked about the bulls needing to get below and holding the 11.50 level ahead of this week to keep near-term support at 11-10.50 in play. Continued closes below the latter keeps 10 and single-digits in play. The February 1st 52-week low is at 9.97.
Dear Subscriber –
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Sony (SNE) February Put Options… a 65% profit in 11 days
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Kohl’s (KSS) February Put Options… a 5% profit in 7 days
Citigroup (C) February Put Options… a 14% profit in 3 days
Mylan (MYL) February Put Options… a 41% profit in 5 days
Emerson Electric February Put Options… a 50% profit in 6 days
Walmart (WMT) February Put Options… a 21% profit in 3 days
Garmin (GRMN) February Put Options… a 6% profit in 3 days
Intel (INTC) February Put Options… a 100% profit in 6 days
Nike (NKE) February Put Options… a 10% profit in 8 days
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Cisco (CSCO) February Call Options… a 23% profit in 5 days
Harley Davidson (HD) February Put Options… a 42% profit in 8 days
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Green Dot (GDOT) June Calls… a 100% profit in 16 days
Rambus (RMBS) April Calls… a 25% profit in 7 days
Mylan April Calls… a 14% profit in 6 days
Energous (WATT) May Calls… a 50% profit in 6 days
Sony (SNE) April Calls… an 18% profit in 5 days
Nucor April Calls… a 54% profit in 14 days
Rambus May Calls… an 11% profit in 4 days
Inovio May Calls…. a 25% profit in 4 days
Merck May Calls… a 36% profit in 3 days
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The newsletters for Momentum Options Daily (MO) and Easy Money Options (EMO) are different in a couple of ways. MO averages 2-4 trades a week, depending on market conditions, while EMO averages one trade a week. MO targets “out-of-the-money” call and put options for returns of 100%-500%. EMO trades “in-the-money” call and put options targeting returns of 50%-100%, or more.
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Thank you again for allowing me to talk about the market and trading. I hope you will continue your subscription with us, or decide to join us again. I look forward to seeing you at the opening bell. If you are a past subscriber, welcome back, and here is what you have been missing:
Track Record by Year for Momentum Options:
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Over the last 9 years, I have been vetted by the best traders and various newsletter publishers in the business. You can call me personally at 540.429.0998 for the rest of the month to talk about a subscription, or the market in general. You can also email me at Rick@MomentumOptionsTrading.com. Please email if you can’t get through!
***Please remember I have a no refund policy as both newsletters are for serious traders only. If you want cheaper quality newsletters from traders and publishers that do not risk their own money then I wish you the best of luck with your trading endeavors. Cheaper priced newsletters are cheap for a reason and these are the best deals I can offer, so please remember this. Unlike other newsletters, I don’t pay a bunch of zombies that do nothing with traders that know nothing about the market. However, I do pay fees for administration and Tech/ research help.
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Please note: The price of this newsletter will go up substantially in March. My previous publisher created an entry price that was suppose to increase after the initial launch of the newsletter. When it didn’t, my contract was breeched along with royalties and payments I never received. However, I understand many of you want to try option trading on a smaller scale and the newsletter has been a huge success.
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