You have lots of activity in this week’s Momentum Trader Alert.
This week, I am recommending that you sell an option to lock in a triple-digit-percentage gain and to raise your stops in four stock positions to lock in 20% and 10% gains.
I also am making a new options recommendation in one of your existing holdings. Make sure you review the details in the Portfolio Update section below.
This week’s Momentum Trader Alert recommendation bets on a familiar name to sports car enthusiasts across the globe.
Headquartered in Maranello, Italy, Ferrari N.V. (RACE) is engaged in designing, manufacturing and selling sports cars. Its products include sports car models consisting of the 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A, as well as two grand tourer (GT) cars: California T and FF. Ferrari operates primarily in Europe, the Middle East, India, Africa, the Americas, Greater China and the rest of the Asia-Pacific region.
Ferrari N.V. (RACE) versus the S&P 500 year to date.
Momentum Trader Alert Analysis
Buy Ferrari N.V. (RACE) at market today and place your stop at $82.00.
I am holding off on recommending options for now as last week’s sharp move upwards has made the options very expensive.
Sell your remaining Broadcom Limited (AVGO) July $210 calls for a 163.64% gain.
Your position in Momo Inc. (MOMO) is technically oversold. So this week, I am recommending that you buy the MOMO July $35 calls (MOMO170721C00035000), which last traded at $4.63 and expire on July 21.
You now have four double-digit-percentage gainers in your Momentum Trader Alert portfolio.
Raise your stops to the following amounts to lock in these solid gains.
Raise your stop in Cooper Companies (COO) to $236.15 to lock in a 20% gain.
Raise your stop in Broadcom Ltd. (AVGO) to $248.50 to lock in a 10% gain.
Raise your stop in Stryker Corp. (SYK) to $141.90 to lock in a 10% gain.
Raise your stop in Albemarle Corp (ALB) to $112.15 to lock in a 10% gain.
Nicholas A. Vardy