| Hey Kings, Gosh, it’s been a tough week for the stock market…
As such, the Trade Room was a little slow this week too.
But that’s okay, guys.
Like I’ve said many times, we do not trade for the sake of trading.
No. Instead, we wait for the right opportunities…
And some weeks, we may not see many…
But we hold steady, and live to trade another day.
And we’re not alone in this.
The market as a whole, and financial strategists throughout the industry have been rather stunted lately.
But that’s the beauty of the Trade Room…
We’re in this together…
Live, every day, through the ups and downs.
And I cannot thank you guys enough for being such a great community to mentor and trade with.
I hate not providing you with triple digit winners every day like we’re used to, but I look at times like these as a lesson in patience…
It is a virtue, after all.
And when it comes to unusual options activity, patience is key.
In fact, patience is the secret to surviving market conditions like this.
So, together, we’ll continue to navigate this particularly difficult market, which is probably the toughest to trade in I’ve seen in over a decade.
On slow days in the Trade Room, I like to take little polls to gage how we feel about the market as a group.
Yesterday I asked where you all thought the stock market would go from Thursday morning onward…
Here are the results:  As you can see, 48% of you guessed correctly…
That the market would go slightly down by the end of this week.
And while I would have liked to have seen it rage higher, or more realistically go up small, I’m proud of you guys for being down-to-Earth about your expectations.
Now, another thing I must say is that I love trading in a down market…
I thrive in it.
So, I’m expecting some big signals to come across my scanners next week.
And I hope you’ll all be in the Trade Room to take advantage of them with me.
Until then, let’s take a look at how my watchlist and free trade from this week turned out. AK's Watchlist Recap As I said, it was a tough week for the market in general, and my watchlist included…
TWTR, which I generally stay away from, is down from $51.39 to $49.87. This isn’t all that surprising with the unease some investors are feeling about the stock’s future after all the Elon Musk news, but only time will tell…
ARKK is down a bit more, dropping from $53.87 to $49.24.
LYL is also down a mere nickel, from $0.98 to $0.93 at the time of writing.
FTAI dropped from $24 to $22.66.
And JD, the lone bright spot of the watchlist, is up nearly 17% from $53.54 to $62.44.
All in all, this watchlist, like the poll results, reflect the market itself: Down slightly.
But not to worry…
I like it being down, and I’ll be looking to long some of my favorite stocks next week if the options chains hit my scanners.
Speaking of options, my free trade for this week,
Buy FTAI June 17, 2022 $28 calls (for $0.65 at the time of writing)…
Could have been sold for $0.85 on Thursday, a nice 30% gain, all for free.
Hopefully, this one worked out for you.
But if not, just be prepared for more signals in the Trade Room this week.
It’s a challenging environment to trade in, but that’s what makes it so exciting for me!
I can’t wait to see what next week holds for us.
Let’s rest and recoup this weekend, and be ready to rock come Monday. Regards,
Andrew Keene
Editor, Kings Corner P.S. If you don’t wish to receive Kings Corner going forward, you can click here to opt-out. However, I truly believe this is the best — and only — way to trade options, and I think you’d be doing yourself a major disservice if you did.
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