Mid-Market Update for 4/28/2017

Bulls on Track for April Win/ Profit Alert (SQ)

2:30pm (EST)

This week’s gains has easily put the bulls on track for the monthly win following today’s closing bell. Of course, anything can happen between now and then, but the bears seem content on waiting for May to come.

Today’s action has centered on Tech as I mentioned the barrage of earnings after the closing bell on Thursday. Friday closes have been weak on the Dow over the past two weeks and a trend I wanted to see the bulls snap this week. On that note, I would like to see a higher Monday on the Dow to extend its streak to four-straight.

A higher Friday/ Monday Dow close would signal money is still moving into the market and possibly delay a pullback, so we shall see.

Heading into the second half of action, the Dow is down 4q points to 20,940 while the S&P 500 is off 5 points to 2,383. The Nasdaq is also lower by 5 points to 6,044 and the Russell 2000 is declining 14 points to 1,403.

We got some nice pin action going with our current trades as I have another Profit Alert ahead of the weekend. I could have one last update, or new trade, ahead of the closing bell. However, if you don’t hear from me, have a great and safe weekend!


Momentum Options Play List

Closed Momentum Options Trades for 2017: 24-10 (71%). 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 a Trade Alert outside of these time frames.


Oracle (ORCL, $44.72, down $0.05)

ORCL June 46 calls (ORCL170616C00046000, $0.55, flat)

Entry Price: $0.55 (4/26/2017)
Exit Target: $1.10
Return: 0%
Stop Target: None

Action: Support is at $44.50-$44.25. Resistance is at $44.75-$45.


Cisco Systems (CSCO, $34.00, up $0.25)

CSCO May 34 calls (CSCO170519C00034000, $0.68, up $0.10)

Entry Price: $0.42 (4/25/2017)
Exit Target: $0.85 (closed 1/3 @ 60 cents on 4/27/2017)
Return: 57%
Stop Target: 48 cents (Stop Limit)

Action: Fresh resistance is at $34-$34.25. Support is at $33.50-$33.25.


Snap (SNAP, $22.34, up $0.33)

SNAP May 23 calls (SNAP170519C00023000, $1.30, up $0.10)

Entry Price: $0.75 (4/21/2017)
Exit Target: $1.50 (Limit Order on half)
Return: 73%
Stop Target: $1 (Stop Limit)

Action: Resistance is at $22.25-$22.50. Rising support is at $21.75-$21.50.


Cypress Semiconductor (CY, $14.05, down $0.35)

CY June 14 calls (CY170616C00014000, $0.80, down $0.20)

Entry Price: $0.85 (4/20/2017)
Exit Target: $1.70
Return: -6%
Stop Target: None

Action: Support is at $14-$13.75. Resistance is at $14.25.


Square (SQ, $18.13, down $0.10)

SQ June 18 calls (SQ170616C00018000, $1.20, down $0.10)

Entry Price: $0.95 (4/20/2017)
Exit Target: $1.90
Return: 26%
Stop Target: $1.05 (Stop Limit)

Action: Close HALF the trade at current levels.

Support is at $18-$17.75. Resistance is at $18.50-$18.75.