Take $700 Paycheck on LPX. Plus why It’s Good for the Market to Take a Short Breather.

Even a Short Pause will be helpful

I am recommending taking a $700 on lumber producer Louisiana Pacific (LPX).  The trade went live at $97.50 on 9/13/24. This morning the stock was trading near $104. And if you’re keeping score, combined with last week’s three profitable trades that brings our recent profit total to over $2700.

It’s come a bit too far too fast and is likely to retreat in the short term. So it’s time to move on.

SELL - Louisiana Pacific (LPX).  Bought 9/13/24:  $97.50.  9/23/24 intraday price.  $104.50. Return for this trade: $700/100 shares (7.94%). Your results may differ based on your entry and exit points.

Market is Taking a Breather. And That’s Not a Bad Thing.

After the Fed’s rate cut last week, the stock market remains in a bullish, albeit somewhat cautious mode. That’s not a bad thing as we don’t want the bullish sentiment to get out of hand and lead us to a short term, or perhaps worse, correction.  So, a bit of a rest is a good thing.

The New York Stock Exchange Advance Decline line (NYAD) remains in a bullish uptrend, although it is a bit overbought with the RSI now above 70.

This morning, I am adding a new trade featuring an oil service company with a nifty chart suggesting that a breakout is imminent.

Big News! – Introducing the Extended Stay Portfolio

Last week, I announced an expansion of the service, as the Smart Money Passport Active Trading portfolio now has a sibling.  I understand that short term trading isn’t for everyone.  So, if you’re looking for longer term trades check out the Smart Money Passport Extended Stay Portfolio.  The first post is here.

With these trades, we will be able to let value plays mature over time.  So, while I will still be offering short term trades with explosive potential, over the next few weeks, I will be expanding the number of intermediate term trending trades (weeks to months) which feature less volatility and allow you more time to decide whether it makes sense for you to enter them. And I will be offering them at no extra cost.  Thus, this is a great time for those who are waiting to hit the Paid button to grab a hold of the now expanding Smart Money Passport.

Thanks to everyone for your ongoing support.  I really appreciate it.

Thanks also to all the current Buy Me a Coffee members and supporters.  Special shout out to new members who now have access to the Sector Selector ETF Service, which is included, at no extra charge with your Buy Me a Coffee membership.

For intermediate term trading strategies take a Free 2 week trial to Joe Duarte in the Money Options.com.

For active trading, short term trading strategies, check out the Smart Money Passport.

I also appreciate single coffees, which you can buy me here.