Well, the market just wrapped up its best January in more than a decade! The market managed to push higher on solid economic data, even though the GDP came in slightly lower than expected. The Dow closed just above 14,000 on Friday and looks ready to challenge its all-time high, 14,198.1, soon. Nevertheless, many stocks are looking toppy, and this past week, we starting picking some downside trades, including some puts on AMZN and NFLX. We also scored an intraday +82% on GOOG calls on Friday. Gold had a volatile week; we did get a +100% profit on GLD puts on Monday.
For the month, our had some really nice trades with most of the closed trades in the "plus" column:
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The latest data from trading companies are showing signs of individual investors coming back into the markets. GOOG just made a new all-time high on Friday and it’s not hard to see it reaching $800 this year. On the contrary, AAPL just couldn’t seem to find big buyers. The question now is whether the broader market can continue to push higher without seeing much of a pullback. We’ll delve into that tomorrow in my weekly Market Forecast.
On a side note, my book "Wouldn’t You Like to Know Where the Market is Heading?" is now available on Kindle from Amazon.com (Click HERE for Kindle)! If you have other ebook devices or would like to just read it on your computer, you can visit Smashwords for all other platforms (Click HERE for other platforms).
This market is starting to get more exciting. We’ll likely start to look for longer-term trades, ie 2 to 3 months out option trades!
Good night and HappyTrading! ™