Overall, last week was a down one for the markets, with the Dow Jones falling 0.99%, and the S&P 500 slipping 0.58%. The MSCI Emerging Markets Index also took it on the chin ending the week 3.08% lower.
In contrast, your Bull Market Alert portfolio had a mostly profitable, if volatile week.
Pharmacyclics Inc. (PCYC) took off like a rocket, soaring 15.93%. This allowed you to book a double-digit gain of 71.53% and a triple-digit gain of 137.23% on the options I recommended just last Monday.
3D Systems Corp. (DDD) also jumped 6.96%. With your options up 43.75%, get ready to take your first round of option profits soon. You were, however, stopped out of Liquidity Management (LQDT) at a loss.
This week’s Bull Market Alert recommendations all relate to specific options on your current holdings.
- Sell your remaining Pharmacyclics Inc. (PCYC) options to lock in a 144.53% gain. After last week’s run, the stock is extremely overbought, and the options are overvalued. With an $80 price target on the stock, I expect to recommend additional options on this pick as soon as the stock takes a breather from its current relentless run. Raise your stop on the stock to $35.00.
- With Monster Beverage Corp (MNST) pulling back last week, I’m recommending that you take advantage of this opportunity to buy the September $75 call options (MNST120922C00075000). You’ve already made double and triple-digit option profits on this pick, and I think the current correction in the stock offers you another bite at the apple.
- Mellanox Technologies, Ltd. (MLNX) got off to a solid start in its first week in the Bull Market Alert portfolio, with the stock rising 3.90%. I did not recommend options on MLNX last week, as I felt they were overvalued. With the stock pulling back off of its highs, this is a good time to bet on further upside in the stock. So buy the September $75 call options (MLNX120922C00075000) for potentially big gains in this leader in cloud computing.
Portfolio Update
Bank of Ireland (IRE) rose 1.75% last week. Billionaire investor and IRE shareholder Wilbur Ross is set to join IRE’s board of directors. This move will likely allow Ross to take a more “hands-on” approach to his investment and have a positive effect on his investment, and yours. Trading above its 50 day moving average, IRE is a BUY.
National Bank of Greece SA (NBG) gave back just 1.65% of its stellar fifty percent gain from the previous week. NBG is within striking distance of the 50-day moving average, falling just one penny short on Friday. NBG is a HOLD at the moment, but could change to a “buy” early this week.
Monster Beverage Corp. (MNST) lost 6.40%. MNST is currently a member of the S&P Midcap 400 Index, but Standard & Poor’s will add Monster Beverage Corp. to the S&P 500 Index this week. MNST is a BUY.
Novo Nordisk A/S (NVO) rose 2.34% last week. NVO will begin phase 3 testing of its diabetes drug Semaglutide. Novo Nordisk is developing Semaglutide for the control of type-2 diabetes, and seeing great promise in allowing patients to administer only a single weekly dose. NVO is a HOLD.
3D Systems Corp. (DDD) added 6.96%. DDD will demonstrate its newest 3D printer this week at the International Society for Technology in Education convention. The ProJet 1500 color 3D printer costs less than $4,000 and allows on-the-spot printing of durable parts that feature a smooth-surface finish. A top bet on the the 3D printing revolution, DDD is a BUY.
Pharmacyclics Inc. (PCYC) jumped 15.93% over the past five trading days. The stock maintained its remarkable momentum, PCYC continued to benefit from the recent positive clinical-trial report for its drug “ibrutinib”. PCYC hit new 52-week highs all last week on strong volume, and also generated generated on of our quickest ever triple-digit option gains. PCYC is a BUY. Raise your stop to $35.00.
Mellanox Technologies, Ltd. (MLNX) gained 3.90% during its first week in your portfolio. Analyst firm Wunderlich Securities reaffirmed its “Buy” rating on MLNX this week and raised its price target to a hefty $85. This price level is more than 22% above Friday’s closing price. MLNX is a BUY.
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