Take $887 Profit on MTZ. Plus Going Against the Grain with a Top of the Class Contrarian Homebuilder Play.

When being contrarian always pick the best stock in the downtrodden group.

Yesterday, we closed out our trade in the Generac Holdings (GNRC) 12/20/24 $175 Call Option for a $1060 (147.2%) gain. Today, I am recommending selling shares of MasTec Inc. (MTZ) for an $887 profit, bringing our combined two day haul to $1947.

· SOLD MasTec Inc. (MTZ). Bought 11/1/24: $133.23. 11/6/24 intraday price: $142.10. Return for this trade: $887/100 shares (6.82%).

· SOLD the Generac Holdings (GNRC) 12/20/24 $175 Call Option up to $8. Bought 11/4/24: $7.20. 11/6/24 intraday price: $17.80. Return for this trade: $1060/contract (147.2%).

I am also adding a contrarian play on a homebuilder which is steadily moving toward the top of is class. The stock is showing excellent relative strength against its peers and recently delivered a sterling earnings report while boosting guidance.

Finally, in this issue, I am updating sell stops on our other open positions which are moving steadily higher and are closing in on their sell points.

Against the Grain - Image courtesy of jedkobernusz.com

Market Update

The major indexes are consolidating this morning, but money is still flowing into the market, in some cases under the radar, which is bullish. The New York Stock Exchange Advance Decline line (NYAD) is once again above its 50-day moving average and rising as VIX is well below 20.

The reversal in bond yields I’ve been waiting for may have started this morning although things may change after the Fed’s rate announcement. The U.S. Ten Year Note (TNX) looks set to challenge the 4.3% level. A fall below that key level would be supportive of stocks.

Bitcoin is showing some spunk as it closes in on a major breakout with $75,000 still offering stout resistance.

As I’ve recently noted, recent events have turned Bitcoin into a money magnet, prompting me to add two trades on the cryptocurrency. Both are holding up quite nicely.

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, included, at no extra charge with your Buy Me a Coffee membership.

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

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

If you’re thinking about day trading, my new book – Day Trading 101 – will get you started along the right path.

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You’re the music. I’m just the band.

Recently SOLD Momentum Stocks

· SOLD MasTec Inc. (MTZ) Above $130. Bought 11/1/24: $133.23. 11/6/24 intraday price: $142.10. Return for this trade: $887/100 shares (6.82%).

· SOLD the Generac Holdings (GNRC) 12/20/24 $175 Call Option up to $8. Bought 11/4/24: $7.20. 11/6/24 intraday price: $17.80. Return for this trade: $1060/contract (147.2%).

· SOLD Apple Inc. (AAPL) Above $225. Bought 9/19/2024: $225.05. SOLD 10/18/24 intraday price: $235.78. Return for this trade: $1073/100 shares (4.76%).

· SOLD Dell Inc. (DELL). Bought 10/14/24: $127.50. SOLD 10/22/24: $119. Return for the trade: -$850/100 shares (-6.67%).

· SOLD PulteGroup (PHM). Bought 9/27/24: $143. SOLD 10/22/24 intraday price: $134. Return for this trade: -$900/100 shares (-9.37%).

· SOLD - DAC. Bought 9/24/24: $84.05. SOLD 10/14/24: $85. Return for this trade: $95/100 shares (0.76%).

· SOLD Texas Instruments (TXN). Bought 9/27/24: $210. SOLD 10/15/24 intraday price: $200. Return for this trade: $1000/100 shares 4.76%.

· SOLD UFP Industries (UFPI). Bought 10/8/24: $129.50. 10/14/24 intraday price: $138.19. Return for this trade: $869/100 shares (6.71%). SOLD - Generac Holdings (GNRC). Bought 9/30/24: $157.55. 10/7/24 intraday price: $172.72. Return for this trade: $1258/100 shares (9.62%).

· SOLD Aris Water Solutions (ARIS). Bought 9/23/24: $17.25. SOLD 9/26/24: $16.35. Return for this trade: $90/100 shares (5.21%).

• SOLD - 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%).

• SOLD Sterling Infrastructure (STRL). Bought 9/17/24: $130.05. SOLD 9/19/24 intraday price: $139.60. Return for this trade $955/100 shares (0.734%).

• SOLD - PulteGroup Inc. (PHM). Bought 9/10/24: $131. SOLD 9/19/24 intraday price: 141.40. Return for this trade: $1040/100 shares (7.93%).