Last week I told you that in my view the market was at an intermediate term low. My two big long side recs were the semiconductor ETF (SMH) and the Cryto currency stock (COIN). The SMH was up 10% and COIN up 15% last week. Hard to beat that one week performance. One stock I liked was Waste Management (WM). The latter has an earnings report on Monday, so we get to see if my read on how the stock was acting is correct or not. Earnings are always unknown, and even unusual option activity on one side or the other before an earnings report isn’t always right (though usually it is). 

The biggest name stocks have earnings next week. I suspect they will be mixed as at this juncture some of these stocks look like they need a rest (but not another sharp downside move). So I think next week will be two -sided trade and look to buy sharp breaks lower. An at the money SPY calendar spread could be just the ticket if the market flops around and ends up going nowhere on the week as I suspect. Intermediate term my view is higher prices are ahead. 

Thanks,

Joe

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