Stock futures are pointing to a lower open this morning, after the S&P 500 hit record highs yesterday.
However, the day is far from over as it’s “Quad Witch” Friday, an event that occurs on the 3rd Friday of the last month of every quarter.
It’s when stock options, stock futures, stock indexes and stock index futures expire on the same day.
That said, you should expect some added volatility near the open and close…as traders and funds close out positions, open new ones, and recalibrate their portfolios.
(I’m up over $800K this year in trading profits. Do yourself a favor, let me do all the heavy lifting and hard work. Just sit back, enjoy your summer and let my picks come to you. Sign up now)
I will be looking at the options market all day to try to spot anything that is unusual.
But that’s not all I have my eyes on. I’m also looking for trade candidates for my Sniper Portfolio.
What is my Sniper Portfolio?
It’s my long-term swing trading portfolio. And if you’re into set-it and forget-it trades then you’ll love it too.
I wouldn’t be nearing in on $7M in career trading profits if I was a one trick pony. That’s why I trade so many products, sectors, and strategies. I believe there is a time and place for all of them.
That said, my Sniper Portfolio is one I’m really bullish on and excited about.
I’ve been getting a ton of questions lately about what the Sniper Portfolio is all about, what my criteria is for putting stocks in it are, and how much upside I feel the portfolio has…
That said, I’ve decided to unveil the curtain and give you a taste of what you can expect out of Sniper.
Well, the market made all-time highs yesterday… only to pull back, as traders are looking for interest rate cuts later this year.
Now, for the most part, I haven’t been focusing on the overall market too much.
Instead, I’m sticking to what’s been working for me… and it’s paid off with a 40% gain in just under two months.
While traders are trying to figure out what the FOMC is going to do… they’re actually missing out on opportunities.
That said, let’s take a look at how I was able to spot this trade and realize 40% on just one stock.
For the most part, one of my strategies are a bit “longer term”. In other words, I’m comfortable holding stocks in my Sniper Portfolio for months.
For example, Ritter Pharmaceuticals (RTTR) was one of my best setups, which I sent out to clients last month.
Check out the daily chart on RTTR last month.
The stock found a bottom and started to trend higher. Now, there was some resistance around $1… and if it broke above that, the stock had room all the way up to ~$1.40.
Not only was the chart setting up for a bullish trade…
… there were some catalysts on the table. The company has strong catalyst data expected during 4Q 2019.
Ritter Pharmaceuticals is primarily focused on lactose intolerance, which is a very large market opportunity for the company… and I was planning on holding this stock for anywhere between 1 to 3 months.
With such a large market opportunity, traders may have been undervaluing this stock because it had a market capitalization of just $7M.
Here’s a look at what I sent out to clients:
(If you’re wondering how you can get involved in trades like these… click here to take the next step)
Now, this is nothing new here…
I’m still looking for catalyst events and buying the stock for the runup into these data announcements.
You see, generally, when a company has upcoming catalysts… traders will bid up the stock, thinking they’ll report good news.
Sometimes, you’ll get good news with these trades, even if you’re not planning for it.
For example, just two days after I alerted clients about my RTTR buy at $0.78… the stock nearly hit $1.20.
Here was my update to clients…
RTTR is the small biotech company that I just bought. I own 15,000 shares at .78. They have data coming in September and I expect a big run. Some of you may have already profited because shares popped up 50% this week on news that they finished their dosing for the trial! I’m just holding my shares up about 15% and I should be in this name for 3 more months.
Fast forward a few weeks later…
RTTR announced news yesterday morning and provided Phase 3 clinical and regular updates.
Andrew J. Ritter, CEO of Ritter Pharmaceuticals stated, “We are pleased with our most recent interactions with the FDA, we understand their clinical and regulatory priorities and expectations going into our upcoming data readout… We expect that the feedback and agreements reached with the FDA will result in a high-quality analysis of the Liberatus data.”
Here’s a look at the chart.
Now, I ended up selling my shares at $1.10 for a 40% gain (not quite near my target)… and I figured since this news wasn’t going to sustain the morning pop… I took my profits off the table.
You see, this is the third time RTTR is flirting with a breakout around the $1 level (a key resistance level)… and although the news was positive, I didn’t think it was enough to move the stock to the next resistance level.
Here’s what I sent out to clients yesterday morning:
(Think stock analyses like these can help you achieve your trading goals? Click here to take advantage of the Sniper Portfolio)
Just because I took profits, doesn’t mean I’m going to forget about this stock… I’m going to leave it on my watchlist, and if there’s a buying opportunity, I’ll be sure to provide full details about the trade to Sniper Report clients.