5/6 Best Idea For The Week Ahead.

Let’s start with the market, what a recovery yesterday. I honestly don’t even know what to say anymore, we’ve broken down twice in the past week, and everything you’re taught about trendlines tells you to wait until a trend breaks and then long/short it but this market has recovered both breakdowns recently within 1 session, have a look. You almost feel bad for the permabears because every datapoint is coming out in their favor, they’re finally seeing technical breakdowns and they’re immediately met with a power move off earnings. Earnings season is over now, and I’m not sure what can save the market the next breakdown. This is just fascinating to watch unfold because everytime you think we’re going to roll over and finally push to that gap below, the bear market ends after 1 day.

Last week Disney didn’t work out on a short timeframe because of the crash from Paramount, but it had a very big recovery yesterday and I still like it as a longer term turnaround throughout the rest of the year. They do report earnings this week so if that does scare you I would suggest waiting til afterwards, I will hold my short puts through earnings.

This week, I’m focusing on a smaller $13B company that has displayed alot of strength recently and has a +17 net score in my database of bullish activity over the last 3 months.