The Professor has been in this game a long time, over 20 years in fact, and he’s seen it all. That’s why he’s the Senior Training Specialist at Total Alpha. His bread and butter trade setup is the MACD BOOM, which he has worked on with our programmers. The Professor loves stocks and sectors that are trending and look poised to continue. He was one of the first to catch the commodities BOOM this year, you can read more about his legendary call here
Last week the MACD BOOM scanner picked up OHI, and the Professor’s trade has gone up over 100% in just over a week.
This trade was made LIVE in 360 Wallstreet. Here’s what happened:
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After gapping down on earnings on August 2nd OHI showed significant strength, closing the gap and even finishing green on the day. This is a huge sign of strength and one of the reasons the MACD BOOM scanner picked up the stock.
You’re only as good as the stocks you trade. No matter how good your trading skills or stock analysis are, if you’re not in the right stocks at the right time, you’re going to struggle. That’s why a professional tool such as the MACD BOOM scanner is so useful.
After analyzing OHI on multiple timeframes, The Professor concluded that OHI was likely to continue its momentum to move higher and took a long position in the stock. He made the trade LIVE in 360 Wallstreet. On August 2nd, Mike Parks took a long position by buying a call spread. He bought the $32 calls and sold the $33’s expiring Aust 19 for $0.35. The risk was 35c to make around $1.
Over the following week, OHI rose from around $31.50 to over $33.50, and the Professor’s trade returned over 100% in just over a week. That’s the power of combining market psychology with the MACD BOOM scanner and using options to structure risk/reward.
The MACD BOOM scanner is included with every Total Alpha subscription. Try it out today for a Full Month Trial for only $99.
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Image and article originally from ragingbull.com. Read the original article here.