The market has been a roller coaster out there! There’s been a lot of head fakes and stop runs by the algo’s. But what hasn’t changed is that there are still some great short-term trading opportunities, even though at times, they may be few and far between. I’ve hit my 4th Bullseye trade in a row in spite of this challenging overall market. Here’s how it’s played out so far:
Entry at $2.20 hit on Tuesday, Friday it trades to $3.30, a gain of 50% in a way. Better trade management would lead to even better results on the Idea!
Don’t miss my next favorite setup coming Monday morning! Click Here!
Every Monday morning, I send out my best trade idea for the week before the market opens to Bullseye subscribers. After analyzing the market the week before, and running through charts over the weekend, this is my favorite and most primo setup for the week.
Don’t miss my next favorite setup coming Monday morning! Click Here!
I believe that if you can manage one single trade a week and do it well, you can filter out all of the noise happening with the market overall. There’s a lot of thought that goes into the Bullseye trade of the week. I’m looking to find good trade ideas that are outliers in the market.
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Here was my reasoning for Bullseye Pick, which was sent to subscribers on Monday the 23rd of May in pre-market:
Note: The trade signal was triggered on Tuesday, and the first target was almost hit on Friday. The options call was up 50%, and it looks like Target 2 could get hit this week.
Don’t miss my next favorite setup coming Monday morning! Click Here!
IBB – Bullseye Pick Of The Week
Bullseye Pick Of The Week – IBB
These are some very choppy markets, folks.
Case in point: I escaped the FDX trade last week with a nice win on Tuesday, only to see the stock get pummeled the rest of the week.
You better bet that I will be taking profits very quickly and cutting losers the same way.
This week, I am looking at the seemingly forgotten biotech sector and going with IBB as my focus idea.
IBB is an ETF that owns a basket of the top biotech companies in the world.
IBB – iShares Nasdaq Biotechnology ETF
And yes, it is in a downtrend (like pretty much the rest of the world right now), but it has been fighting for a low and has even been trading against the lower trend in the markets recently.
Additionally, this sector is getting very cheap on historical levels and I think I’ve spotted why traders have targeted it recently…
This chart sums up a big reason why I think the market has been buying the IBB compared to the overall market lately…
I think I want to tag along!
If I am wrong on this trade, I will keep a stop in place just under $110.
On the upside, I am looking for a move north of $120, possibly near $125 in the next week or so.
My Trade Details:
- Buy IBB Jun 3 2022 117 Call near $2.20
- Stop : Close under $110
- Target 1 : $120
- Target 2 : $125
As always, I will be teaching live about this idea @ 11am EST today so join me there!
To YOUR Success!
Here’s how Those Options played out as of Friday
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