[Cash Out] Next IPO Poised to Pop!

Want a piece of the next Uber, Lyft or Pinterest when it IPOs?

Get your seat at the table and learn how you can capture these explosive moves before others!.

Join now to lock in Founding Member Pricing for a Limited Time!

Today’s game-plan: Wait and see

Davis MartinDavis Martin ·

The back story: Being a trader is a bit like being a field goal kicker in football; you’re only as good as your next kick. You may have won the last game, but if you miss your next chance to put points on the board, it would be easy to feel like a bum.

As traders, it’s easy to think that every day is that next kick, and that you have to attack each day and take a shot all the time. Unlike a field-goal kicker, you get to decide the next time you take the field.

Why I’m cautious today: In my opinion this market is overly extended and needs a big correction.

I don’t know what the catalyst is going to be, but it’s earnings season and surprises can trigger downturns and reversals. The way this could start is with Facebook (FB), Alphabet (GOOG), Apple (AAPL), and Amazon.com (AMZN) all missing earnings in near future. While unlikely – and I have no special insight into the books on those stocks — it’s the stock market and anything it possible.

That said, Alphabet reports tonight, and I’m expecting to be playing that move tomorrow.

What I am looking for: Another chance to win the game. Last week was a good one for me and my subscribers, and I’m not anxious to give any of that back. Given the market’s upward pressure but the need for a correction that I see coming (I’m not alone in that), I’m looking for charts I can trade with confidence. I’d be more confident after a mega-cap tech stocks earnings miss, but I will wait and watch right now rather than rushing the field.


Davis Martin is the head trader at Dailyprofitmachine.com. He trades SPY calls and puts and swing trades individual stocks and stock options. At the time this article was published on RagingBull.com, he had no positions or open orders in the stocks mentioned here, though he was watching Alphabet closely and looking for a possible trade tied to its earnings announcement.

You may also like

Exclusive System Tracks Wall St. Insiders

“Dollar Ace Simply Exposes Information That Wall Street Wants To Keep Quiet” Said Kyle Dennis
“One member, Wesley M., has already reported 360%+ gains in just a few short days. Don’t miss this!”
(Reserve Access Now)

“What Recession?!” Jason Bond nets $55,060 in realized profit in One Day

After going 6 for 6 on profitable trades recently, we caught up with Jason to ask how he did it.
Check out Jason’s exclusive interview revealing this tightly guarded strategy. (Watch Now)

RagingBull.com Co-Founder, Jeff Bishop, Launches High Conviction Trade Service

“We listen to our clients and we give them EXACTLY what they want, so we designed a service to deliver 1 trade, 1 time a week, with a 100%+ PROFIT TARGET, directly to your inbox every Monday before the market opens. (Read More)

Be a Better Stock Trader, Starting Today

Get the expert insights, tips and strategies you need to optimize your trading skills and profiles