Hello there! Below is your edition of this week’s newsletter. We hope you have a great trading week!
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Current Futures
DOW:
+36 (+.12%)
S&P 500:
+4.5 (+.14%)
NASDAQ:
+14.5 (+.15%)
BITCOIN:
+345 (+3.5%)
GOLD:
+.50 (+
.03%)
Market Talk
This evening China released surprisingly strong CPI numbers which came in at a growth of 5.4% in January compared to an expected growth of 4.8%. This caught many off guard, and futures went positive by about .25% after being down nearly a full percent in early Sunday futures trading.. Additionally, on Saturday, WHO (World Health Organization) came out and said they believe the Coronavirus is stabilizing. Another key point, is that China is now allowing all workers to return to work on Monday. This is the first time that work and travel restrictions have lightened since the lockdown. The virus outbreak is currently the only thing really weighing on global markets at the moment. China recently dramatically reduced tariffs on imports to help ease the strain on the Chinese economy. Additionally, we have seen China pump major liquidity into markets, and even ban short selling to help ease the impact on their markets.
Stocks To Watch This Week
GWPH
GW Pharmaceuticals ($GWPH) is a Major Drug Manufacturing company in the Healthcare sector. This stock started off weak Friday morning, but quickly found support (shortly after midday) at $124.67 before reversing into close. This has potential to set up nicely for a dip buy for a longer term hold, as it has positive sentiment from major institutions for the near future. I plan to day trade this over the $127.60 natural resistance level for a clean technical breakout!
Want more picks like this? Visit our website for daily stock watch-lists!
Option Plays To Watch This Week
TEAM
There’s a lot to like in terms of options in the week ahead, but TEAM is the one I want to highlight. First, the stock is nearing all time highs on a break over 153.70. The starter however, would be on a break over $152. That would be my trigger to dive into this small roughly 1/4 size.
The strikes i’m most interested in are the March 165 and 170 call. I would start small entering 1/4 size on both, and then look to add on a new all time high breakout over 153.70, but be sure to ease in to these. No need to rush in all at once.
Want more picks like this? Visit our website for daily stock watch-lists!
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