Tuesday, February 7, 2023

♟ Playing the Pullback With 2 Trades

Trade of the Day Logo

"I would not be surprised if the SPX goes sideways over these next few weeks."

Nathan Bear, Lead Technical Tactician, Monument Traders Alliance

In January we saw a nice rally in the SPX.

Now we're experiencing a pullback. But there's still plenty of trade action to be had.

I go over two potential plays in today's video.

You won't want to miss this one.

Click the image below to watch.

The TPS Setup and a Short Squeeze Play
 

This NEW Electric Vehicle Stock Could Help Fund Your Retirement

Its car is faster than super-cars like Ferrari's F8, McLaren's 720S and Porsche's 911 Turbo.

Yet it's 100% electric.

Discover the new $25 startup that could be the next EV giant.

Logo

YOUR ACTION PLAN

First Solar (Nasdaq: FSLR) has a great "standard" TPS setup. We have a name near 52-week highs with a strong trend, a great pattern and the start of a squeeze. It has earnings coming up on February 23, and I'm looking to get long for a run into those earnings. I'd like to buy the February 24 $170 or $175 calls when the price of FSLR is around $168, and I'll look for a new high into earnings.

First Solar Chart

(Click to enlarge)

The second name is Beyond Meat (Nasdaq: BYND). This is a name without a TPS-style setup, but it has nearly 40% short float and it announces earnings soon. My plan is to use the earnings as a catalyst for a short squeeze. I'm looking to buy the BYND February 24 $20 calls when the price of BYND is near $18. This is an "if/then" trade - if BYND can hold the $18 level, then I want to be long looking for a run into earnings. If BYND cannot hold this $18 level, then I want to close the trade and look elsewhere.

Beyond Meat Chart

(Click to enlarge)

If you're looking to get more trades, I recommend checking out The War Room. Bryan and Karim are off to a hot start in 2023, boasting a 100% win rate on nine trades last week and an 86% win rate overall. Right now they're guaranteeing members will receive 252 winning trades in their first 12 months.

Click here to join The War Room.

P.S. Your help is needed. Due to the recent tragic earthquake in Turkey and Syria, we are showing any interested readers where they can donate to help relief efforts. Relief International is a large international nonprofit that's on the ground in Turkey and Syria right now.

For more information on how you can donate today, click here.

Treasure And Antiquities Banner
 

URGENT: Safe Stocks Help Rescue Americans From Market Storm

Chess
 

Almost everyone is getting PUMMELED by this market... almost everyone.

One group of stocks has "generated returns of almost 30% so far this year," according to Financial Times and Bloomberg. (Hint: It's not gold or energy stocks.)

Click here to get all the details.

Trophy

TESTIMONIAL TUESDAY

"I closed the [AI] 2 Shares/Contracts I opened at $3.90 for $6.00 [in two trading days]. Thanks Bryan for a 54% winner to start the week."
- Chris F.

"In [TSLA puts] at $.90 out at $.65 for 38% [in 42 trading days]. Thanks Karim."
- MargeCT

 

INSIGHTS YOU MAY HAVE MISSED

CAT Constuction Vehicle

Buy CAT Before It Bounces

Monster Short Squeeze Winner

Carvana's Monster Short Squeeze Winner

The Real Real

This Company Has REAL Potential for Growth

A Ground Floor Biotech Pick

This Pick Already Delivered a Big Win... Let's Do It Again!

Instagram

Follow Us on Instagram!

FACEBOOK

TWITTER

 

No comments:

Post a Comment