We had two alerts this past week. Depending on how they were executed we had subscribers that did not get in on the alerts and others that did and held on for better returns than we sought. We entered JPM (some missed entry) at $1.35 looking for a 25% return but exited early at $1.61 for 19% - it did hit $1.69. We also entered the SPY May 19, 2017 - $240 CALLS at .89 cents again looking for a 25% return. We exited at $1 for 12% return. We were whipsawed on KO hitting the stop loss and a negative result of -15%. Overall for the week we are looking at a gain of 16%.
The markets experienced days of low volume and tight trading ranges. The major indexes ended all but flat in quiet trade Friday as investors stood down after a tough week of earnings news and politics. The surprise firing of FBI Director James Comey cause the market jerky move that hit our KO alert that has since come back.
Of note was the beating of retailers this week to include a beating taken by Macy’s (M) as well Nordstrom (JWN) tanking 11%, despite a relatively strong first-quarter report and JC Penney (JCP) beat-down 14% on its quarterly results, driving share prices below 5.
Baker Hughes (BHI) has caught our eye as it has reported 17-straight weeks of increased rig activity. Crude ended the week up 3% and just below $48 a barrel.