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Off the Charts: March 15, 2017

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Welcome to your FREE sneak preview of T3 Live’s Off the Charts newsletter.

Off the Charts gives you actionable, easy-to-implement stock and options trade ideas straight from our top professionals.

We’ve posted for you the complete March 15, 2017 edition of Off the Charts so you can see the high-quality trade ideas and in-depth analysis that Daniel and Kurt deliver every night.

March 15, 2017 07:30 pm

Click the screen to watch your Off the Charts Video:


Kurt Capra, Trading Educator ("Co-Author")
Daniel Darrow, Professional Trader ("Trader Co-Author")


EQUITIES

Off the Charts Equity Portfolio

Date Added Symbol Long/Short Status Entry Target Stop
02/07/17 LULU Short Open 65 – 64.75 60 – 59.50 67.25 – 67.50
02/28/17 YELP Long Pending 35.20 – 35.50 40 – 41 33.25 – 32.85
03/06/17 TWTR Long Pending 16.15 – 16.25 18.70 – 19 15.50 – 15.30
03/07/17 XLNX Long Pending 60.50 – 60.75 65 – 66 58.25 – 58
03/14/17 TSCO Short Pending 69.90 – 69.60 61 – 62 72.75 – 73

*The “Off the Charts Equity Portfolio” is a model portfolio that tracks the trade ideas presented in each publication of “Off the Charts” and does not imply that a trade idea was executed in actuality or that the Trader Co-Author of the publication holds the same or similar positions. The Trader Co-Author’s actual portfolio holdings may include equity positions that are included in the “Off the Charts Equity Portfolio.” Full disclosure of the Trader Co-Author’s actual portfolio holdings, as of the date of each publication, is made under a separate and distinct disclosure. See “Trader Author Portfolio Holdings” Section.

Yellen and Company delivered a rate rise and the market liked the news.

Averages were comfortably green this morning ahead of the Fed rate decision and extended gains sharply after the 25bp raise was announced . The S&P (+.84%), Dow (+.54%) and Nasdaq (+.74%) all finished the day solidly higher following a session of (mostly) broad based buying.

The lone sector not participating in the rally today was arguably the one sector that benefited the most from the rate rise. Financials (XLF -.16%) gave up gains late in the session as Treasuries (TLT +1.22%) turned sharply higher in the afternoon. While the Fed made the case for 2 more hikes this year and 3 next, the overall tone appeared more dovish and weighed on the banks.

Energy (XLE +2.21%) was a top performer as Oil (+2.58%) ended the slide following bullish inventory numbers. Materials (XLB +1.60%) and Healthcare (XLV +1.26%) also had nice days, with the latter being led higher by continued strong performance from big cap pharma (JNJ +1.50%, PFE +1.20%).

The S&P 500 ETF (SPY)

Yesterday was the second successful test and hold of the 20day sma on SPY in 2 weeks and in both instances, the next day saw serious buying interest. Last week it was the monthly jobs report which got stocks moving and today it was the Fed.

SPY closed the gap from Monday’s close during the morning and then continued higher into the 238 level in the afternoon. On the rate hike announcement, it took off higher to 239 and finished the day right at it on slightly above average volume. The strong uptrend still remains in tact so a retest of March highs at 240.32 should be in the cards soon.





Twitter (TWTR)

TWTR can’t seem to buy a bucket here.

 After getting whacked on earnings, TWTR looked like it was stabilizing in late February and getting ready to do one of its patented runs to close the gap. It sank through February lows around 15.50 though in March when the averages began grinding lower and just yesterday it started to show some life again only to be knocked lower today after prominent investor Sacca had negative comments about the stock.

 All in all, it has been a frustrating grind lower since I put this on watch for a long. I still like the idea and the potential so I will leave it for the time being but at this point, it definitely appears that it is going to require some more time to set up. With RSI pushing into the low 30’s and the stock near major levels of support, I do think it could be due for a bounce soon but I am going to be particular and wait for a move back above 16 before I look to enter.



Lululemon Athletica (LULU)

LULU had a breakdown in its sights this morning as it broke below the 100day sma during early action. It actually was holding below it right up until the rate announcement when the market pop rescued it.

LULU finished the day back above the 100day sma but still underneath the important 64 level so it’s still set up well for a breakdown. Now that it is holding in a lower range here ( and with moving averages coming in a bit), I am going to tighten the stop. New stop range will be 67.25-67.50.




We hope you’re enjoying your FREE preview of T3 Live’s Off the Charts newsletter.

Off the Charts gives you actionable, easy-to-implement stock and options trade ideas straight from our top professionals.

Don’t have time to research and scan through thousands of stocks to find high-probability swing trade setups?

Want to get away from day trading and take a steadier, more measured approach to the market?

The Off the Charts team does all the work for you.

This nightly newsletter, which is delivered 5 days a week at 7:30 p.m. ET, includes:

  • Both stock and options trade ideas: it's like 2 newsletters in 1!
  • Long and short trades so you can make money in all market environments
  • An in-depth video to keep you updated on our trading strategy
  • Clear entry, target, and exit prices to remove all guesswork
  • Updates on every single trade for 100% accountability and transparency

Options

Off the Charts Options Portfolio

Date Added Symbol Long/ Short Call/Put Status Contract Entry Range* Target Range* Exit Range*
02/26/17 ABBV Long Call Open May19 - 65 62.50 - 62.75 68.50 - 69 64.75 - 64.25
03/05/17 STLD Long Call Spread Pending Jun 19 - 38 - 44 38.25 - 38.50 43 - 44 35 - 34.75
03/07/17 CLR Short Put Spread Open Apr21 - 45 - 37 43.75 - 43.50 40 - 39.50 45.75 - 46
03/12/17 JBLU Long Call Pending Jun 16 - 20 20.60 - 20.75 23.15 - 23.50 19.90 - 19.75
03/15/17 MAR Long Call Spread Pending May19 - 90 - 97.50 88 - 88.25 94 - 95 85.50 - 85.25

*Ranges based on underlying equity

*The “Off the Charts Options Portfolio” is a model portfolio that tracks the trade ideas presented in each publication of “Off the Charts” and does not imply that a trade idea was executed in actuality or that the Trader Co-Author of the publication holds the same or similar positions.  The Trader Co-Author’s actual portfolio holdings may include options positions that are included in the “Off the Charts Options Portfolio.”  Full disclosure of the Trader Co-Author’s actual portfolio holdings, as of the date of each publication, is made under a separate and distinct disclosure.  See “Trader Author Portfolio Holdings” Section. 

Marriott (MAR)

MAR is a new name on watch for a long.
 
MAR is an under the radar runner. It had a strong ~20% rally from the election to mid-December, then after consolidating the gains for about a month, took off higher again in January for another ~10% run, eventually topping out in mid-February around 90 following its earnings release.
 
After reporting results, it pulled back initially to the 20day sma then lost that level two weeks ago when averages began to creep lower off highs. Buyers stepped in above the 50day sma on the first test since November and the stock has settled into a tight, solid range above it over the last week and a half. The pull back from February’s highs has been on lighter volume and even though it broke below the 20day sma, it still has found interest at higher levels than January and has not disrupted the strong uptrend. MAR has consolidated the large rally well and worked off the overbought conditions nicely, and now looks set up well for another higher.
 
On a break above 88-88.25 (back through the 20day sma), MAR looks good for a run to news highs up to 94-95, while a move back below 85.50-85.25 (below the 50day sma) would be the cue to exit.
 
I am going to target a May19-90-97.50 call spread for a trade here. Because MAR is not as quick of a mover as some beta names, I want to be sure to give myself enough time to let the trade develop. Going out through May though I am going to have to pay for an earnings report. Selling the further out of the money contract will help lower the net debit while not sacrificing too much delta.


AbbVie (ABBV)

ABBV had a nice leg up today after a quick consolidation above 65 the last 2 days. It cleared last week’s high of 66.35 during the afternoon run and closed the session above it, at the best levels it has seen since mid-August. 68 is the next target on the upside.

The breakout is working well and as it moves higher I am going to keep raising the stop. New stop range will be 64.75-64.25 which would be a break back below the important 65 level.

Thank You!

We hope you’ve enjoyed your FREE sneak preview to Off the Charts. If you have any questions, please email us at info@t3live.com or call 1-888-998-3548.

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TRADER AUTHOR PORTFOLIO HOLDINGS

Click Here to see all Holdings

THE ANALYSIS PROVIDED IN THIS PUBLICATION IS FOR EDUCATIONAL PURPOSES ONLY.  THE “OFF THE CHARTS EQUITY PORTFOLIO” AND “OFF THE CHARTS OPTIONS PORTFOLIO” ARE MODEL PORTFOLIOS THAT TRACKS THE TRADE IDEAS PRESENTED IN EACH PUBLICATION OF “OFF THE CHARTS” AND DOES NOT IMPLY THAT A TRADE IDEA WAS EXECUTED IN ACTUALITY OR THAT THE TRADER CO-AUTHOR OF THE PUBLICATION HOLDS THE SAME OR SIMILAR POSITIONS.  FULL DISCLOSURE OF THE TRADER CO-AUTHOR’S ACTUAL PORTFOLIO HOLDINGS, AS OF THE DATE OF EACH PUBLICATION, IS MADE UNDER A SEPARATE AND DISTINCT DISCLOSURE – “TRADER AUTHOR PORTFOLIO HOLDINGS.” 
 
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS ("PAPER OR VIRTUAL TRADING") IN THE “OFF THE CHARTS PORTFOLIOS” HAVE CERTAIN INHERENT LIMITATIONS.  UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES.  ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED WITH CAPITAL, THE RESULTS MAY HAVE UNDER-OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY.  NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
 
T3 Live LLC ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The independent contractors, employees or affiliates of the Company may hold positions in the stocks, options, currencies or industries discussed in this publication.  You understand and acknowledge that there is a very high degree of risk involved in trading securities, options and/or currencies.  The Company, the authors, the publisher, and all affiliates of the Company assume no responsibility or liability for your trading and investment results.  It should not be assumed that the methods, techniques, or indicators presented in this publication will be profitable or that they will not result in losses.  Past results of any individual trader or trading system published by the Company are not indicative of future returns by that trader or system, and are not indicative of future returns which may be realized by you.  In addition, the indicators, strategies, columns, articles and all other features of Company's products are provided for informational and educational purposes only and should not be construed as investment advice.

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