Tomorrow is St. Patty’s Day and the bulls are trying to add some more green to this week’s gains. We have a lot to cover so let’s go over the numbers real quick.
The Dow is up 2 points to 13,255 while the S&P is higher by 2 points to 1,404. The Nasdaq is also up 2 points to 3,059. Maybe we should play 222 as a “pick 3” today as hot as we have been.
Here is a quick update for our portfolios.
This week has been one of our best week’s ever for the Daily publication. We are currently nursing open trades of 428%, 308%, and 118% to go along with the 35 winning trades we have closed for 2012.
We have been able to turn a $10,000 trading account into over $40,000 which is a return of over 300%. We seriously doubt any other option newsletter can match our results so far this year.
Not only have we had an incredible week for our Daily newsletter, our Weekly Wrap quietly continues to perform beyond our wildest expectations. We are on track to close up to 7 double-digit winners by the closing bell as the March options expire today. Take a look at the profits that could be coming our way if shares hold above the current strike price on the options we have sold.
magicJack VocalTec (CALL, $25.19, up $1.00) +19%
Bank of America (BAC, $9.58, up $0.34) +20%
Vivus (VVUS, $20.34, up $0.20) +38%
Alcoa (AA, $10.56, up $0.21) +17%
Symantec (SYMC, $18.11, down $0.09) +16%
Solazyme (SZYM, $15.66, down $0.19) +55%
MGM Resorts (MGM, $14.44, down $0.27) +13%
This will bring our 2012 Closed Trades for the Weekly Wrap to 19-0. If we include last year’s 16-0 mark, we could be 35-0 since started the newsletter a little over a year ago. Remember, our goal is to bring you solid double-digit profits every month with this publication no matter what the market is doing. If you can hit 5 winning trades for 20% or more you will double your money. The aforementioned covered call winners would have done just that for you.
We will give you our full track record this weekend as we are squaring-up a number of positions today. We did take a few hits on a few aggressive earnings trades but overall we should be 55-10 thru the first 3 months of 2012. Please note, and this is super important, we do not count half or quarter winning trades 2, 3, and 4 times. There are many option services that do this. If we did, our track record would be 85-10.
Other newsletters will also double down and tell you to buy more of a position if it is down and then they will average their cost down. However, if the trade is a loser, they will only count it once.
The bottom line is that most investment newsletters don’t have a track record because they give you so many trades hoping to hit on a few and they don’t trade their own account. They brag about the winners but won’t mention the losers.
We have auto-trading partners which verify our results and you can always request our current 2012 Track record by sending us an email if you are not a current subscriber.
Our reputation is built on trust and all of our trades are done in real time and are time dated. Our auto-trading partners get great fill prices on all of our trades for your account and your order is placed the instant our Trade Alerts go out. If you are a busy professional and can’t watch the market all day long, let our brokers do the work for you.
The reason we are telling you all of this is because we have been tired of listening to the Wall Street “pros” and talking heads that have gotten this market wrong and when it does crash they will tell you they were right. However, if and when there is a selloff, don’t get nervous. Remember, we can make just as much money to the downside as we can the upside. Just take a look at our 2008 portfolio, especially some of the returns on the Financial stock option trades.
We have a busy weekend ahead of us but the good news is our portfolio is light for both our Daily and Weekly Wrap which means we are ready to start our next batch of 50 trades. We will let the charts tell us which way the market is headed instead of trying to guess and wait for a pullback. The trend has been higher since the August lows and we have outlined clear support levels to watch for if there is a trend change. Until then, the trend is our friend.
We will be back Sunday night with the Weekly Wrap and we have updated our current trades one last time. Until then, have a great weekend everyone!
(Remember, we just ran a special for our Weekly Wrap so if you would like a 3-month trial at a 50% discount, please send us an email.)