Has the market been trending higher in 2023? 

Absolutely.

Did the market surprise many on Tuesday after it held up strong in the wake of a stronger than expected CPI inflation report?

You betcha.

That said, so far the market has remained locked in a range in February.

Teachable Moment:

Most people don’t think about this, but market corrections come in two forms: price and time.

A price-related correction means that a stock’s share price retraces (declines) a meaningful portion of the preceding rally before that rally eventually resumes.

A time-related correction means that a stock’s share price simply moves sideways in a range, allowing important moving averages to eventually catch up.

With that in mind, the sideways price action so far in February is considered a time-related correction.

Sideways markets like this are PERFECT for the strategy I’ve been focusing on with my Bullseye Unlimited members this year.

I’m a trader, through and through.

That means while many retail traders have been getting whipsawed in February’s sideways market, I have been sifting through all the data that’s available on a HUGE universe of stocks and ETFs to find the ones that are trending. 

RIGHT NOW, I’m bullish in certain areas and bearish in others.

That’s real trading.

And with 1000’s of stocks and ETFs available to trade, I have been super busy sending daily updates to my Bullseye Unlimited members. 

One of my favorite ideas right now is SKY.

SKY is a stock I am forming a game plan on right now and will share with Unlimited members soon when I am ready to pull the trigger.

SKY recently reported strong earnings, and has been mooning ever since.

Long-term, though, SKY is showing even more upside potential after it surged above a major bottoming pattern on Wednesday.

While this is an AWESOME setup, getting into this trade without paying too much for the Call options is where many retail traders will struggle.

That, my friends, is where my 20+ years of trading experience will come into play.

Not only have I built a career out of teaching retail traders like you how to use options Greeks, implied volatility, and technicals to get the best entry price possible, I’ve also built a company around it. 

Each day, I am seeing more and more Weekly Bullseye members recognize the value of the more active strategies I am using over in my Bullseye Unlimited service.

Just like this trade alert I just sent Unlimited members last week when I saw that LSCC had shorts on the ropes and was likely going to continue higher:

LSCC-  Lattice Semiconductor is also in my favorite sector right now. It too is starting to consolidate really close to all time highs. If it can break out there’s plenty of blue sky for a big breakout here.

My Trade Details:

• LSCC Mar 17 2023 $85 Calls near $3.20

• Stop: Close below $74.50

• Target 1: $88

• Target 2: $92

Well, I can bet that Unlimited members loved that idea, because look what happened since I alerted it last week!

Or on Thursday last  when I alerted calls on PI, which is a stock not very people even know about?  

Those calls now, are worth nearly 100% more…

just a few days later.

Or on Friday, when I told members about TGTX?

Fast-forward to today, and those same options are already 

worth 70% more.

But it’s not just the increased frequency with which my Ultimate trading ideas are delivered.

They are also capitalizing on daily lessons I provide, showing them how to sift through MOUNTAINS of information to find the ideas are the right ideas for RIGHT NOW. 

They also get access to:

• Members only trading room
• Exclusive live training sessions
• INSTANT App alerts throughout the entire week of multiple trade ideas

And the coverage does not end there!

Unlimited members also receive my Top Targets Watchlist, which provides a daily short-list of my top 3 trade ideas I’m looking at for the day, based on scanner activity and analysis from the Unlimited Octane Scanner.

Folks, EVERY morning I send out an email with my top 3 trade ideas shortly after the open, along with a market overlook and real-money portfolio updates.

I also send INSTANT App alerts every time I am ready to make a new trade from that list.

Then I bring it all together in The Shooting Gallery – my exclusive LIVE trading chat room – when I see activity that I’m looking to set up a trade on.

These trade ideas also get posted to the Gallery’s Trading feed so members can see the EXACT contract I’m looking to trade (***even if they miss the live session***) and go over specific trades or questions.

As always, Unlimited members get unrestricted access to ALL the educational materials I wish I had when I first started out trading options over 20 years ago. 

So far, 2023 is living up to expectations of being a great year to be a PREPARED trader. 

I know you love Bullseye already… so imagine adding MULTIPLE trade ideas EACH WEEK.

And as an existing Bullseye member, I’m rewarding you with a huge discount to upgrade your membership to Bullseye Unlimited – there simply is no better time for you to make the move to become a more nimble, more prepared trader.

***This pricing will not last long, so you must act NOW***

I urge you to learn more here or call our VIP Team to find out more at 800-585-4488.

We’re also making it easy to become an Unlimited member by providing easy to use payment plans. (all you gotta do is call up my buddy, Jeff Brown and ask him nicely!)

Don’t let price stop you from achieving your goals in 2023, we are here for you!

Contact my team and see if there are any additional credits you can claim right now.

We’re here to help you have the best year ever – let’s do it together!

Bullseye Pick Of The Week – CVNA – Recap

My first target in CVNA this week was hit on Wednesday. Despite the market being overextended we got the euphoric rally in “meme stocks” before the rug was pulled this week (stupid BBBY derailed what could have been a MONSTER WEEK!). 

From my experience this is how big bullish market moves usually end in the short term, when junk begins to fly! Here’s what happened to the options I sent out on Monday:

And here’s how I traded it:

I took ½ of my position off after a 50% move so I am still in this trade! I wanted to let the rest ride because I know how crazy these meme names can get but unfortunately CVNA has started to come back down. Either way I traded my plan and made sure to lock on some gains on a great idea.

I also “double dipped” on this trade by sharing a different strategy with my “Wall Street Bookie” members who also saw another opportunity where I was able to cash in a 50%+ win in 3 days as well.

I just want to show you this to point out there are a few different ways to “skin a cat” (where did that phrase ever come from anyways?) when it comes to trading.

You can take the same stock idea and build several different strategies around it.

It wasn’t just a great week for me.  Here’s what some actual Bullseye Members had to say!

Brian Bradford 1 day ago

Good call Jeff! Thank you. Keep it pushing

Rigoberto Corredera 2 days ago

Jeff… TY my brother

Dan Bouchard 2 days ago

Halted!! Wow!!

Long may it continue!

And as always, drop by during the week and leave me a message on our comment pages at the bottom of the weekly trade recaps.

Bookmark this page to quickly be able to find the game plan on my current trades and discuss with other members and me.  

Now that was the trade my Bullseye Trades members received. My Bullseye Unlimited members got even more trade Ideas and opportunities. Rather than just getting 1 idea each week, they get 3 a day.

Here is my highlight from the week with Unlimited…

I sent this out around midday Tuesday like I do every trading day for subscribers:

YETI-  YETI Holdings designs and sells products for the outdoor and recreation market. Yesterday they announced that they had identified a potential safety concern regarding the Hopper® M20 Soft Backpack Cooler, the Hopper® M30 Soft Cooler, and the SideKick Dry® Gear Case. YETI notified the U.S. Consumer Product Safety Commission (“CPSC”) that the magnetic closure of these products can fail and release magnets, posing a risk of serious injury or death if the magnets are ingested.

The stock was down over 6% on the news today. YETI has failed to break above $48 resistance and looks like it could be headed for a test of $40 support and possibly lower.

My Trade Details:

• YETI Feb 24 2023 $45 Puts near $3  

• Stop: Close above $48.50

• Target 1: $40
• Target 2: $33

Those options rocketed over 85% over the next few days as YETI stock tanked!

Unlimited members get live updates and alerts on all my trades. 

This one was a quick 85% trade in 4 days!

With Unlimited, here’s what you get on top of the Bullseye Trade of the Week:

• The LIVE trade breakdown and expanded updates and insights on my trade of the week and how I’m managing it
• The Top Targets Watchlist — my 3 top trade ideas every morning
• INSTANT app alerts with the options contracts I’m eyeing when I see scanner activity members need to know about
• The “Shooting Gallery” Live Trading Chat Room, where I’ll alert members to join me for my real-money LIVE trades (with all-day access to the chat room)
• The full trade details plus the EXACT options contracts I’m looking at
• My suite of world-class options training education videos
• And a 30-Day Satisfaction Guarantee!

These are the tools that will help you take your game to the next level! And there’s never been a better time to join.

With this RIDICULOUS 54% discount to get started with Bullseye Unlimited, there simply is no better time for you to make the move to become a more nimble, more prepared trader.

***This pricing will not last long, so you must act NOW***

I urge you to learn more here or call Jeff Brown at our VIP Team to find out more at 800-585-4488.

Or drop Jeff a line at jbrown@ragingbull.com.

VIP Rep Jeff Brown: 800-585-4488/jbrown@ragingbull.com

We’re also making it easy to become an Unlimited member by providing easy to use payment plans.

To learn more, help is also available by email (Support@RagingBull.com). Don’t let price stop you from achieving your goals in 2023!

We’re here to help you have the best year ever – let’s do it together!

Editor’s Note: This is the Bullseye Trade that Jeff Bishop sent out to his subscribers last week.

I have to say, I was very happy with last week’s idea on shorting MRNA.  The trade worked out beautifully, and it was a very hard one to mess up since it went down nearly non-stop for 3 days.  The options had a nearly 200% possible move in the process.

I really liked how that played out, especially since I was wrong about the direction of the market.  I expected things to tank last week, but we had another strong week for the market instead.

This week, I am still a believer that we will see a slight pullback, but only around 2-3% from current levels.  I think the bears are so desperate for any dip right now that they will continue to cover positions into any dips. In fact, they might even get emboldened to build bigger short positions (I pity them if that’s the case!).

Overall, I am anticipating a lot of “chop” this week.  That back-and-forth trading action can be killer for trading options if you don’t get a clear direction one way or the other.

My problem with buying the best stocks I love right now is that they are all very extended.  I can’t find one great stock that I want to buy right now.  I am ready to load up on a pullback, but assuming I have to make a trade today, it is very tough out there.

It pains me to say it, but for my trade idea this week – I am breaking some rules.

The stock I am going after this week is not a strong earnings winner.  It is not fundamentally a great company. In fact, I think there is a decent chance it will go bankrupt some time this year.

This is a very high-risk, but possibly very high-reward type of trade if it works out.

That being said, I am looking to buy Carvana (CVNA) calls this week.

There is a lot to discuss on this one, so it is important that you join my live session @ 11am EST today.

Please note: there are two different rooms where I will be streaming live today:

👉 Bullseye Live can access the Bullseye Live room HERE.

👉 Bullseye Unlimited (BU) members, you’ll want to join me in The Shooting Gallery, where not only will you have access to chat during the live Bullseye session, but you’ll be able to catch the FULL HOUR of my Monday live trading session… PLUS, you’ll have access to my top 3 ideas each day PLUS any new trades I make during the week LIVE.

If you’re not in BU, then it is time to upgrade your membership to “Bullseye Unlimited.”  Just call 800-585-4488  or email Jeff Brown (jbrown@ragingbull.com), and we will get you taken care of today. 📈

📱 By the way, if you are not getting my real-time alerts when I am ready to make trades – Get the app on your phone!  📱

I always send out my trade alerts via our mobile app.  It’s crucial that you download it and enable alerts so you can stay up-to-date on what is going on with my trades.  

So, to reiterate – make sure you download the app right now! 

Subscribers receive alerts on trades, webinars, and events.

Back to the pick of the week…

You must be asking yourself, “If it is such a trash company, why buy CVNA?”

My answer is that in the short-term, it just doesn’t matter how terrible the stock is.  If you zoom out and just look at this idea from a technical perspective (that is, just looking at the stock chart), it is a pretty amazing setup.

If you are a member of my “Bullseye Unlimited” program (and you better be!) you will remember that I picked this last week, when the stock was around $10.  Then it shot up to nearly $20 the very next day, and the options moved well over 400% following my alert.

Not to say that will happen again, but it proves that this is a powder-keg opportunity right now.

The short interest in this stock is off the charts.  I am sure the move last week both trapped a lot of recent shorts and had a lot of new ones added.

But here is the thing… even though CVNA pulled back to $14’s after touching $20, it hasn’t budged since.  I think shorts are in a big mess right now and if the “Apes” get their way, they will push this stock right back up soon.

If that happens, I think we could easily see CVNA trade over $16 soon (which would be profit target #1 for me), and if it gets really spicy, we could see a move into the mid-$20 range.  

I am fully aware that this trade could fizzle out and the “apes” might not have further luck with this.

If that happens, I am going to use $11.80 as my stop loss on the trade, though I would certainly keep an eye on it for another entry soon if I get stopped out of it in the next couple of days.

This is going to be a wild week of trading.  CVNA is no exception.  The options market is pricing in a huge move for the stock right now (implied vol is nearly 300%!).

That being said, I am not going to trade as big of a position as I normally would.  I think trading a “half-sized” position for me this week makes the most sense.

My Trade Details:

• CVNA Feb 24 2023 $15 Call near $3
• Stop: Close below $11.80
• Target 1: $16.50
• Target 2: $21.50

Have a great day, and make sure you join me @ 11am today for the live training session!