• Email :trent@omahacharts.com

Buy The Ticket, Take The Ride

It’s hard to believe that we are nearing the end of Q1 2019. It’s time to reevaluate our trade plan as well as begin formulating our strategy to get off to a strong Q2. Each year around this time I make sure to have at least some exposure to the Resorts and Casinos group. Using Exodus Market Intelligence and the seasonality study shows why:

 

 

April is a stellar month for the Resorts and Casinos as a group. Stocks include the usual suspects like LVS, WYNN, PENN, BYD, and MGM. In my case, I had some money to put to work in my IRA which I tend to be more conservative with. Instead of taking an individual stock here I am going to add some calls in BJK, an ETF which does a decent job in representing these names.

You know me well enough to understand that I would never trade based on seasonality alone. We need to have multiple factors lining up for me to risk capital. I believe we have that if you will take a look at a chart of BJK with me:

 

Do you see the makings of a familiar reversal pattern? I believe I do and want to be here to take advantage of it.

I’ll be back soon with a recap of what went right and what went wrong thus far in 2019 and some other ideas to get your Q2 off to a good start.

Trent J. Smalley, CMT

Posted by Trent

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