We rolled with the bulls at the end of April despite Wall Street’s warnings for a pullback, correction, selloff, or a bear beat down. Instead, the bulls were able to set new highs after breaking out of a 2-month trading range and should close May with gains of 3%-5%. We were white-hot while riding their backs and for traders that stayed patient and followed our lead, well, let’s just say they more than DOUBLED their money with our option trades.
We are 16-3 on our past 19 closed trades since the last week of April as we were betting on a strong May. We have also closed 6 winning Weekly Wrap trades over the same time frame that makes us 22-3 for an 88% success rate. For the year we are pushing nearly a 70% win rate. While we have to be careful a mini trading range is forming, June could also be bullish as well. We will talk more about the market this weekend in our Weekly Wrap and in Monday’s Daily but we are having another busy day.
We have a number of trades that are showing solid double-digit gains and we have a few trades that are on the verge of being triple-digit winners so we want to give some last minute updates before the weekend hits. We also have another NEW TRADE we are getting into on a stock that has been breaking out all week and is showing strong momentum.
The bulls are showing a slight lead for the week if current levels hold but there is a lot of time between now and the close for the bears to make one last run to get the weekly win.
As we head to press, the Dow is up 12 points to 15,336 while the S&P 500 is off 2 points to 1,652. The Nasdaq is up a point to 3,492.
It’s been a super sweet month and we would like to hear from you. Please send us an email over the weekend to let us know how you did in May. We will be back on Sunday with the Weekly Wrap and another feature story on a stock that is undiscovered on Wall Street. The newsletter is on a tremendous roll this year as we are 18-1 and overall since 2011 we are 62-3. We will be back Monday morning with the Daily but we could have Profit Alerts later in the day as we will be watching all of our trades until the close. We also really like our New Trade so let’s get on it.
If you don’t hear from us, have a great weekend and be sure to email us with your comments and questions. And make sure you tell your friends about us!