Kohl’s Corporation (NYSE: KSS) recently delivered earnings per share that were a few cents above expectations. However, the company missed sales forecasts, and the stock traded down — which is great news for us!
This decline boosted our put position on KSS. It now shows a double-digit gain, but we’ll let this position ride the stock’s price drop for a bigger profit, so stay tuned for a signal to sell in the coming weeks.
As you may recall, our limit order to sell half of our position for a 50% gain on KSS — as well as Nordstrom (NYSE: JWN) — triggered last Wednesday. If you haven’t done so already, be sure to take some of these gains off the table now.
Today, I also share the chart action and my expectations for JWN, which will report earnings later this week.
Then, I update you on Mylan N.V. (Nasdaq: MYL), Plexus Corp. (Nasdaq: PLXS) and Agilysys (Nasdaq: AGYS). That’s all in this week’s six-minute webinar:
Click here to view the slides.
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I hope you’ve been enjoying our free e-zine, Sovereign Investor Daily.
Each week, Jeff Yastine, Ted Bauman, Ian King, Brian Christopher and I share investing opportunities and market perspectives you won’t find anywhere else.
If you haven’t already, be sure to check out this extension to our daily letters — Market Insights — featured every Saturday on YouTube.
Last week, Ted and I met to share our views on the recent inverted yield curve, a warning sign for a potential recession. With that in mind, we discuss what to expect in the coming months and how you can stay prepared with uncertainty in the markets.
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In the meantime, remember to keep an eye out for additional trade alerts. If you have any questions — or if you would like to share feedback — please send a note to peakvelocity@banyanhill.com. My team and I are always looking for ways to make this service better.
Regards,
Michael Carr, CMT, CFTe
Editor, Precision Profits
