Mid-Market Update for 2/24/2017

Fresh Support Holding/ Profit Alert (JBL)

3:10pm (EST)

Futures were pointing towards a lower open this morning and a backtest to near-term support. The action has remained negative throughout the session with the bulls making steady progress off the lows heading into the final hour of trading. It remains to be seen if the indexes can recover green to end the week, but overall, February has been a sweet month.

Monday represents the second to last trading day of the month and I often talk about the importance of Monday/ Friday closes. Up sessions usually indicate money is still flowing into the market while down closes can signal cash is moving to the sidelines. Mixed Monday/ Friday closes can indicate possible trading ranges.

The Dow is lower by 56 points to 20,753 while the S&P 500 is down 5 points to 2,358. The Nasdaq is off 6 points to 5,829 and the Russell 2000 is declining 2 points to 1,392.

The Retail stocks are bouncing back today after more news on the border tax proposal. The rebound may or may not last and some of the stocks I have on my Watch List still look ripe for trades – but not today. I will be back Monday with a full report. Until then, have a great and safe weekend!


Momentum Options Play List

Closed Momentum Options Trades for 2017: 14-2 (88%). All trades are dated and time stamped for verification. New subscribers can look at the past history to see how the trades have played out or to research our Track Records.

Do not risk more than 5% of your trading account on any one trade but do try to take all of the trades. Please remember, all “Exit Targets” and “Stop Targets” are targets. You should not have any “Hard Stops” entered to close any trades or “Exit Orders” in your brokerage account unless I list one. I will send out a “Profit Alert” or “New Trade” if I want you to close a position or if a new trade comes out. Otherwise, follow instructions at all times in the 8am and 12pm–2pm (EST) updates. Also, I will usually give you a heads-up if I think I’m going to send an Trade Alerts outside of these time frames.


3D Systems (DDD, $16.44, down $0.19)

March 18 calls (DDD170317C00018000, $0.35, down $0.05)

Entry Price: $0.45 (2/22/2017)
Exit Target: $1.00
Return: -22%
Stop Target: None

Action: Thursday’s low reached $16.46. Support is at $16.50-$16.25. Near-term resistance at $16.75-$17.


Jabil Circuit (JBL, $26.17, up $0.03)

JBL March 26 calls (JBL170317C00026000, $0.95)

Entry Price: $0.65 (2/13/2017)
Exit Target: $1.30
Return: 23%
Stop Target: 80 cents (Stop Limit)

Action: The Stop Limit at 80 cents has tripped today following the backtest to $25.74.


Flex (FLEX, $16.74, up $0.03)

FLEX April 17 calls (FLEX170421C00017000, $0.40, flat)

Entry Price: $0.35 (2/15/2017)
Exit Target: $0.70
Return: 14%
Stop Target: None

Action: Support is at $16.50-$16.25. Resistance is at $17-$17.25.


TherapeuticsMD (TXMD, $5.78, up $0.14)

TXMD June 7.50 calls (TXMD170616C00007500, $0.60, up $0.15)

Entry Price: $0.75 (1/18/2017)
Exit Target: $1.50
Return: -20%
Stop Target: None

Action: Resistance is at $6. Support is at $5.50-$5.40.