Hey y’all,
Hope you’re having a good week.
Mine has been kind of tough. I drove up to St. Louis because my mom had a knee replacement scheduled for Monday.
Everything went fine with the procedure, but she’s had some minor post-op complications. Everything should be completely fine, but obviously, it’s been a stressful week and a bunch of running back and forth around town.
With that said, being busy kept me mostly out of the markets on Monday and Tuesday, which is a pretty good thing.
There was one trade I wanted to brag about a bit though, mostly because I’m not bragging on myself.
On Friday, I hopped on with my friend Alex Reid to talk one more time about his Wave Indicator.
I know you’ve heard me talk about it a bunch recently because I love it. It’s a momentum-based trading tool that creates easy “call” and “put” signals AND gives you a pre-printed profit line.
On Friday, we did some live trading and looked at the market in real-time. And one of us pulled up Altria (MO), a historically stable and slow-moving stock most known for its dividends.
But on Friday, we noticed that the Wave Indicator had recently printed a “Call” signal on MO:
Now, the white dotted line is a momentum-based profit target. And on a stock like MO, a $2 move is pretty significant.
But with the Wave Indicator, I had the confidence to take a shot at it.
And in fact, I made a little mistake — I wasn’t looking at the daily but rather the weekly chart, which meant the indicator gave me a more aggressive profit target.
So I bought a 28 Mar $61 Call, and because of the aggressive profit target, it was only $0.07 a contract (lest I sound like a high-roller, I only bought three contracts for a total of $21).
From there it was a waiting game, but it didn’t take long…
By Monday, MO had raced higher and hit the profit target on the daily chart:
I was able to get out at $0.15, representing a 114% gain.
I closed two contracts, and I’m gonna let the third one sit for a while — I still think it could surge higher and I’ve got until the end of March to watch it.
When you have a lot going on and you don’t have much time to check out the markets, it’s nice to have a tool that makes it as easy as the Wave Indicator.
If you want Alex and I to break down how it works for you, you can catch a replay of our briefing here.
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