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Hello Trader,
Every trader has those moments when they have absolutely no clue what the market is going to do next.
Yup, even me.
What do I do when I have no opinion of the market's overall direction?
I follow a plan.
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What I've learned in my 20+ years of trading is that when I am unsure of what the market is going to do, I look to trade stocks that have a low correlation to the major market indices.
In other words, stocks that don't trade like the S&P 500 or Nasdaq.
And that's exactly what I did for my Bullseye Trade in the beginning of July because, quite honestly, I could have made an argument for the market to trade in either direction at the start of the week.
So I choose the FNKO July 15 $22.5 Calls as my Bullseye Trade idea, with an entry price of $1.40.
Not only did I choose FNKO for it's weak relationship to the broader market…
But I also chose it for the extremely bullish pattern that the stock has been developing AGAINST the S&P's bearish pattern in recent weeks.
Now, this illustrates how I handle uncertain markets, and as you can see from this next chart…the Jul 15 $22.5 call options contract moved QUICKLY in the desired direction…
As the stock price reached my initial target of $25.00 on the first day of trading this week!
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Now, I have to throw the tastyworks trading platform under the bus on this one, because they would not allow me to execute the trade.
Friends, I've been hard at work this week to give my members my best possible idea for my next Bullseye Trade, and it will be delivered Monday WITH OR WITHOUT YOU!
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By design, my Bullseye Trade ideas are hyper-focused trade ideas that I deliver to members at the start of each week.
For $95 Get Access To Every Bullseye Trade Idea for 1 Year!
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