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WEEKLY RUNDOWN
Hey, traders, Lance Ippolito here. Welcome to Weekly Rundown, where we'll share some of our top trading ideas — and our biggest winners — from the New Money Crew!
Another trading week is in the books and we're getting close to the end of what has been one of the craziest years on record. The coronavirus pandemic brought an economic storm that showed investors which stocks can withstand the headwinds…
And introduced us to new stocks for a stay-at-home environment that are big winners so far.
But what's the worst stock of 2020? Well, I introduced a brand-new segment this week called "I Call BS," and the first pig I called BS on is none other than Eastman Kodak Co. (NYSE: KODK).
Kodak SEO Jim Coninenza tweeted Monday he'd be live on The Wall Street Journal's "Tech Live" to talk about the future of the company. And second before he tweeted it, I was alerted to heavy action on Kodak calls in the options market — weekly call options, might I add.
So the stock shot 50 cents higher on this "news," and the whole thing stinks, and it's baffling to me.
I don't think there's any value here and to me, it's looking like another Hertz Global Holdings Inc. (NYSE: HTZ), and these companies are pure junk… garbage…
I think this piggy by next week will be back down around $8 — big time off the highs it hit after the tweet. And if you look at its recent history, every single time it's spiked it has immediately fallen.
So don't get married to these companies. You can day trade or short them, but don't fall in love with pigs like Kodak.
Analysis: How to Time a Nasdaq Up-Swing
The presidential election is right around the corner and drawing closer with each passing day. Which is great because then we can put it behind us and be done with these political ads. In Florida we've been beaten over the head with them nonstop for months on end...
Aside from the political ads, will the upcoming election wreak havoc on the Nasdaq? Looking back through history, we know that as we get closer to the election, the market is likely to at least slow down.
According to Live Trade Profit's Josh Martinez, that means more consolidation, more sideways movement, less trending and more chaotic, fear-driven moves up and down.
Josh did the research and since 1988, the Nasdaq has moved 28% on average from election night to its anniversary the next year. That means there's quite a bit of money to be made in that year!
Since about Sept. 24, the Nasdaq has been moving in an up channel. When it sinks to the bottom of the channel, there's a U-turn. And right now we're at the bottom of the channel.
So is it time to buy?
Well, Josh and his members follow four strict rules:
- We buy low in the buy zone.
- We sell high in the sell zone.
- We do not buy high prices.
- We do not sell low prices.
So while we're at the bottom of the channel, we're technically in a short-term sell zone, so we shouldn't buy. We're in a sell zone because the market is still making lower lows and lower highs — and that's not the time to buy.
So while we're at the bottom of the channel, you should wait until buyers bring the market up past the short-term downward push Josh's chart is showing. Check out Josh's video here and you can follow along with his chart to better illustrate this point.
Ideally, Josh is looking to buy the Nasdaq for about 2,000 ticks — about $10,000 with a $500 average investment — when the Nasdaq hits 12,438.25.
Until then, Josh says he wouldn't buy while the sellers are still in control, as they are right now...
Tap Into Josh Martinez's 'Money Magnet' Express Trades… for Just $5
Keeping with Josh Martinez, what if you knew the exact price point a stock would hit with up to 95% accuracy? Josh has traded his own account for decades now and he's trained thousands and thousands of people how to trade just like him through his videos and research like you just read above.
Through his decades of experience and work, he's discovered a set-it-and-forget-it strategy that can reel in profits of $17,986 on a $10,000 investment — potentially every month.
And on top of that, he has a seemingly impossible 95.45% hit rate.
That means when you place a trade, you can watch as the stock drives straight into your profit target for BIG gains like it was pulled by a "magnet." And, yes, it happens over 90% of the time based on his track record.
Josh's Money Magnet Express system tells him when to buy and when to sell and you're welcome to follow along (it's super simple). He alerts one trade per month… and you can basically set it and forget it...
… and it will only cost you $5.
That's it… $5.
Click here for more information on Money Magnet Express.
How to Get Started in Low-Priced Stocks
We get asked all the time about getting started in the market, particularly with low-priced stocks. Rob Booker over at Booker Wealth posted a how-to video this week explaining his process.
STEP 1: Decide what your big-picture goal is regarding profits, be it $10 a day or $100 a day — or month… Since most people actually lose money in the market, Rob's ideal goal is $1 a day to start, and then get out of the trade. Don't go for the home runs — yet.
That might not sound like much, but after you repeat $1 a day over and over and over, you will start to see that this can be easy with achievable goals that lay the groundwork for success.
Getting a dollar a day isn't going to pay your bills… BUT if you're like most traders, you're losing money. And that's not going to pay the bills either. So setting a reasonable, achievable goal is Step 1.
STEP 2: Fund a brokerage account — whichever of the many platforms you like — and fund it with $100. Starting small is the recipe for success.
STEP 3: Get free scanning and charting software — Rob recommends TradingView. Then you need to spend time learning how to use it. If you want to trade, you have to know how to use the software, and you can actually filter out low-priced stocks to start figuring out which one you want to invest in.
Looking at stocks below $10 for his video, Rob found 138 matches. Now you want to find a stock that has a strong buy rating that's also trading more than a million shares of volume on average each day, which the software will show you.
STEP 4: Once you've picked your stock, go to your brokerage account and buy 10 shares. If that stock rises 10 cents a share, you've just made a dollar — time to sell.
Again, this doesn't sound like much. But that's the point — this is just a starting point. Yes, you can absolutely look at the buy rating and average volume to figure out which stock to pick, but you can also dig deeper. And Rob promises more videos moving forward that will give you even more details on the stock picking part.
Signing Off
If you're looking for more compelling trade ideas and stock market musings to read and help you prepare for what lies ahead, here's what other experts at WealthPress are saying:
Lance Ippolito
New Money Crew
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Disclaimer & Disclosures: The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. Please see our Terms and Conditions for more information.
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