Traders Daily – Micron Overbought, Take Your Wins


Weeks ago, we recommended the Micron (MU) stock at $39.50.  We would exit half not long after.  Now, as the stock pushes into overbought territory at $45.52, we’re recommending that you take your win off the table on the stock.

We also recommended the MU September 20, 2019 45 calls at just 90 cents.

At the moment, those calls are up to $3.50 for a win of 289% in weeks.  Take it.  Congratulations on the win.  We’d love to hear how you did with this one if you have a chance.

Here’s what we still hold, long-term:

Micron Technology (MU) stock – $39.50 – exiting today

MU September 20, 2019 45 calls – 90 cents – exiting today

Take your wins on both trades today for respectable wins.

DB Gold Short ETN (DZZ) – $4.96

While gold did turn higher after the Fed announcement, let’s hold DZZ as a hedge.

Halliburton Co. (HAL) stock – $22.92

HAL September 20, 2019 25 calls –

HAL dropped slightly to $21.75, but we continue to hold on oversold conditions.

Apple (AAPL) stock – $192.05 – exited half

AAPL is now up to $202.59 and is still a buy with a $210 price target.

Intel (INTC) stock – $46.86

INTC is still a buy with a near-term.  It just hit our target of $50.  We now believe it could rally to $53 shortly.   It last hit $50.27.

The VanEck Vectors Rare Earth/Strategic Metals ETF (REMX) — $14.50

REMX is still a buy with China’s rare earth threats still on the table.  REMX is up to $14.59.

Devon Energy (DVN) stock – $32.93

We continue to hold oversold shares of Devon.  The calls resulted in a full loss, unfortunately.

iPath S&P 500 VIX Short-Term Futures (VXX) — $42.80

VXX now trades at $23.38.  Hold.

New Age Beverage (NBEV) — $6.76

We have a near-term target of $10.  It last traded at $4.05 a share.  Hold.

Ceragon Networks (CRNT) – $3.90

Boingo Wireless (WIFI) – $32.04

Zayo Group (ZAYO) — $34.42

All are long-term holds as the 5G revolution just begins to pick up momentum.  CRNT now traded at $2.75. WIFI is now at $17.71. ZAYO now trades at $33.54.  Hold all.

CoreCivic (CXW) stock – $25.25

The GEO Group (GEO) stock – $25.32

CXW is now trading at $16.63. GEO is now at $17.24.

ETFMG Alternative Harvest ETF (MJ) — $32.30 – exited half

Kush Bottles (KSHB) — $7.85

MedMen Enterprises (MMNFF) — $4.30
Canopy Growth (CGC) — $51.55

Marijuana stocks are benefiting from further from U.S. approval across the country, Canadian approval on October 18, 2018, and corporate interest in marijuana stocks, as we’ve seen recently.

Pro Shares Ultra Short S&P 500 (SDS) — $45.15

This remains a hedge against the long positions.  It’s now at $30.


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