10/6 Best Idea For The Week Ahead

We wrapped up last week with another highest weekly close ever. The market does not really seem to care at all about the potential large scale war brewing in the Middle East for the moment. The breakout is about to enter its fourth week and although it hasn’t been the most dramatic breakout, the fact remains it is a breakout, this is just not bearish at all until we close back below that white line. Earnings season kicks off with the banks this coming friday.

As for these weekend best ideas I’m not sure if covid gave me superpowers but since I was sick in early August these are the 7 weekend best ideas I’ve posted and their returns since with BABA clearly leading the way up 37%.

There have been some huge runners in these and even HPE which I caught alot of flack for because it dipped for a week right after, it is now up almost 7% since. With these trades you really have to establish them for a credit and just give yourself time. When a trade is for a credit and hopefully the puts sold are at a key support level, you don’t need to worry about stop losses. Just remember every stock is a buy, the question is where on the chart.

This week’s best idea is another nice looking chart I highlighted a few weeks back and it is up 20% since but it looks ready to run based on the large number of trades lining up in its favor and is still well off its highs.