First, let me wish you a very Happy Easter! Life is slowly getting back to normal just in time for spring and summer, and we’ll be celebrating with an Easter Egg Hunt Adventure!
Today’s OVI Market Review has some real nuggets, so please do watch it carefully.
Here are some highlights:
- The importance of a top-down approach that will save you time
- How I am soon going to dramatically improve that approach for you
- Nice looking stocks today with a bullish bias.
A holiday weekend can be somewhat tricky, but the Thursday’s action leaves me with a bullish bias, so I have been on the hunt for neat pullback consolidations near Key Levels and with other Big Money Footprints in evidence.
The caveat is that this has been a challenging market recently, with an abundance false breakouts and rounded tops. But we’re not currently short-term overbought, so there’s a good chance of solid breakouts.
Conservative first profit targets, stay with the sectors that look strong, and avoid stocks that already look overstretched.
From this coming week we’ll be in the pre-earnings phase of the markets. In the right conditions pre-earnings can be a gold mine, but it is absolutely vital that you do NOT use margin-requiring strategies for pre-earnings plays. That means options have to be LONG options plays, bullish or bearish. And for now I’m leaning toward bullish.
Interestingly, while the Dashboard shows largely bullish 1- and 2-month trend counts, the flag count is overwhelmingly bearish. What I deduce from that is that there are many pullbacks in evidence right now. To that end, since I recorded today’s Review I’ve added TPR and UAA into the Latest Review Stocks Watchlist.
As I mentioned last week, stay fussy with your picks and conservative with your P1s.
Finally, there are just two weeks from my ‘Miami’ OptionEasy Bootcamp where I will teach you how to use options safely, and reveal our latest set of tools to make things easy, fast and better. Those that have enrolled will be receiving their physical gifts over the next 10-days or so. If you haven’t yet enrolled, then do it quickly to get yours, or speak to us to see if it’s right for you, on www.ovi.to/consult.