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Jeff Pierce
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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
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All About Trends
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  • Earnings Season Provides Opportunity 0 comments
    Oct 1, 2012 12:12 PM | about stocks: WFC, C, SPY, QQQ, NUAN

    By All About Trends

    In a market that's near support and in a confirmed uptrend, it's all about buying calls in stocks that are also at support. We've done that by buying the November calls of NUAN and VELT when they hit support and now will hold through their earnings reports in November.

    (click to enlarge)

    Coming up very soon are reports by two of the financial stocks we presented in the All About Trends mid-day update last Wednesday - C and WFC. Their earnings reports are right around the corner AND more importantly their charts look really good - both are in confirmed uptrends and above the 50-day. We'll want to do calls in C and WFC should they tag support again in the next day or so.

    (click to enlarge)

    The same goes for the others on our watch list. We want to buy calls should the stocks hit support that will carry us into earnings where they have potential to give us a nice pop. This will remain our game plan as long as the Yellow Brick Road remains intact.

    So that said, we'd welcome a few more days of consolidation in the indexes. While it may bring more temporary in-flight turbulence for our current positions, it will allow us to initiate positions in stocks on our watch list and put us in position to benefit nicely from earnings season.

    This has been an excerpt from the premium weekend Fun Money report. Subscribers receive daily commentary, real time stock/option alerts and a weekend wrap-up. To learn more about our stock and option recommendations and receive our free report - "How To Outperform 90% Of Wall Street With Just $500/ Week", sample our free newsletter".

    Stocks: WFC, C, SPY, QQQ, NUAN
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