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During a market pullback last month, I placed two bullish trades, one on Coinbase Global, Inc. (NASDAQ:COIN), which expired worthless earlier this month, and one on Travelzoo (NASDAQ:TZOO) I opened a GTC (Good ‘Till Canceled) order on half of the TZOO options to exit them when they were up 200%, and that trade just filled yesterday. I'm holding out for a bigger gain on the other half of that trade.
That small caps like TZOO have been ripping to the upside is one indication that the bull market is back for now. While it is, let's try to make some more money.
You might think that with the recent market rally it would be easier to find stocks to bet against than bet on, but that hasn't been the case. I did post one short trade on Friday, which filled for me on Monday,
But other names that come up on the same bearish screen look less attractive when I dig into them. For example, some reported earnings this month and beat estimates. I do have four interesting long ideas today though:
Details below, but before we get to them, a reminder: If you're concerned about the next market downturn, you can download our optimal hedging app here.
The company is Celestica, Inc. (NYSE:CLS) and the trade is buying it at or below $54.50 per share and putting a trailing stop of 15% to 20% on it. This trade filled at $54.50.
Subscribers can read about the other three bullish trades here.
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