Looking to Exit Options This Week

Nicholas Vardy

Nicholas Vardy has a unique background that has proven his knack for making money in different markets around the world.

Stock markets across the globe recovered last week, with the Dow Jones rising 0.93% and the S&P 500 up 0.95%. The tech-heavy NASDAQ also recorded a positive week, rallying 1.19%. The MCSI Emerging Markets Index rallied 1.94%.

It was an even stronger week for your Bull Market Alert portfolio.

Big gainers included Micron Technology Inc. (MU), jumping 4.16%; AbbVie Inc. (ABBV), adding 4.15%; and Grifols, S.A. (GRFS), rising 3.76%.

Micron Technology Inc. (MU) also hit a new 52-week high and both AbbVie Inc. (ABBV) and Grifols, S.A. (GRFS) rose back above their 50-day moving averages and moved back to a BUY.

Both Gaslog (GLOG) and Micron Technology (MU) are now up more than 10% — not bad for what has been a negative-to-flat market over the past two months.

Your options in Micron Technology Inc. (MU) and Visa (V) are now up 45.41% and 43.67%, respectively. That means you are on the verge of taking your first round of profits in each of these, once they hit the 50%+ profit level.

A trickier decision involves the soon-expiring options in AbbVie Inc. (ABBV) and Grifols, S.A. (GRFS). These options are still in the red. But with both stocks rallying strongly over the past week, I am hoping that we can still eke some gains in these options between now and the end of next week when the options expire.

Keep an eye out for “special alerts” in your inbox over the next two weeks with specific recommendations on when to exit these positions.

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As you enter the first week of May, a very tough month for stocks, I am holding off on a new Bull Market Alert recommendation this week. That said, after such a lousy April — often the strongest month of the year — you may be pleasantly surprised.

S&P 500 Average Monthly Returns & Probability of An Advance from 1950: April is the strongest month of the year

 Source: Sell In May? 5 Viewpoints And A Conclusion by Arsene Lupin

Portfolio Update

The Bank of Ireland (IRE) rose 1.59%. European officials revealed the economic and financial stress tests that European banks will have to pass in the coming months. Irish central bank officials indicated that they were satisfied that Ireland would pass with flying colors. IRE is a HOLD.

AbbVie Inc. (ABBV) added 4.15%. ABBV’s recent positive earnings report continued to be reflected in the stock’s performance last week, pushing ABBV above its 50-day moving average (MA). ABBV is now a BUY.

Grifols, S.A. (GRFS) rose 3.76% over the past five trading days. GRFS spent the first half of April correcting to its $36 support level. Since then, GRFS has been on a winning streak, moving higher nearly every day for a gain of 16.47% just since April 15. GRFS breached the 50-day MA early last week and moved back to a BUY.

Micron Technology Inc. (MU) joined the several other big gainers in your Bull Market Alert portfolio last week, rising 4.16%. MU also hit a new 52-week high last Thursday. MU is a BUY.

Tata Motors Limited (TTM) closed the week flat. TTM appears on a short list of the top-performing large-cap auto manufacturing stocks in terms of expected earnings per share (EPS) growth. A bet on both the company’s strong fundamentals and a turnaround in the Indian stock market, TTM remains a BUY.

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EOG Resources, Inc. (EOG) fell 2.00% for the week. This big energy bet reports earnings today, after markets close. EOG is a BUY.

Visa Inc. (V) gained 2.76% for its first week in your portfolio. Visa continued gains last week on the heels of its April 24 earnings report, as well as breaking back above its 200-day MA. Based on both fundamental and technical indicators, this is an excellent time to be buying Visa. Your bet on the “cashless society” remains a BUY.

Nicholas Vardy

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