Every Tuesday we hunt for turning points. This week I’ve found four strategic bottoms where I see buyers stepping in so you can catch the reversal. Sellers dumped all four too hard and too fast. Each now trades a few percent above a level where options traders have stacked up put protection, and each has a list of catalysts that argues against the selling. With where the market is positioning macro wise I think they all have legs. Before the new board, lets take a look at last week’s picks where we went 3 for 4!
LAST WEEK’S SCORECARD
We called three bottoms and one top on September 29 with a 75% win rate. All of the bottoms are working per the technicals with the reversal on PLTR 0.00%↑ still in the works. I’m watching for the $200 level to be a strong level of resistance with the potential for an equal high around $207.
Today’s Trade Set Ups
The broad market supports this week’s trade. $SPY at $779 and $QQQ at $760 both trade above the line where options dealers switch from selling into drops to buying them. Dealers buy dips in this environment, and stretched stocks like the picks below are likely to snap back when pushed low enough as long as fundamentals are strong.
UNLOCK THIS WEEK’S BOARD
Last week’s scan put three bottoms on the board, and all three are working. This week’s four setups sit below the line: the floor, the trigger, the targets and the exit plan for each one. Paid subscribers get the full board every Tuesday, plus a scorecard that grades every call, wins and misses alike. If you want the institutional data for yourself, head over to Trader Matrix and use our link for a special offer!
We caught $ONDS at $0.67 before it ran +2600%, $LPTH at $4 before it ran +440%, and $UMAC at $7 before it ran +340%. Subscribe so you don’t miss the next one.
