27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
In a new report, Oppenheimer analyst Ari Wald discussed the firm’s top technical sell ideas in each of nine market sectors. While Oppenheimer remains bullish on the market as a whole, the nine stocks mentioned in the report have shown technical indicators that upside will be hard to come by.
Freeport-McMoran Inc (NYSE: FCX)
Oppenheimer sees technical breakdowns for Freeport-McMoran on both an absolute basis and a chart versus the metals & mining stocks. The stock has generally been trending downward dating back to 2011.
FirstEnergy Corp (NYSE: FE)
FirstEnergy has been unable to break above its downward-sloping resistance line since late-2011, and Oppenheimer sees little support for the stock until the $30 level.
Transocean Ltd (NYSE: RIG)
Transocean has been trending downward versus other drilling names going back to 2013, and the stock recently failed for the second time to break above a resistance level that has been in place throughout 2015.
Jacobs Engineering Group Inc (NYSE: JEC)
Oppenheimer believes that a recent breakdown in Jacobs’ price versus other construction engineering stocks could be an indication that a more than two-year-old support level at just under $40 might soon fall.
The Coca-Cola Co (NYSE: KO)
On a relative basis, Coca-Cola has been lagging other Beverage stocks going all the way back to 1998. After the stock was recently unable to break out to new all-time highs, Oppenheimer believes that there is significant downside remaining.
HCP Inc (NYSE: HCP)
While Oppenheimer believes that HCP is currently oversold, the stocks long-term underperformance versus other REITs indicates that any jumps in price should be seen as selling opportunities.
Qualcomm Inc (NASDAQ: QCOM)
Oppenheimer sees major recent technical breakdown on both Qualcomm’s absolute chart and its chart versus other communication equipment names.
H&R Block Inc (NYSE: HRB)
Despite the relative strength in the Consumer Discretionary sector, H&R Block recently broke out to the downside from triangle patterns on both its relative and absolute charts.
Merck & Co Inc (NYSE: MRK)
The Healthcare sector is Oppenheimer’s top sector pick at the moment, but recent technical breakdowns indicate that Merck will not be participating in any further upside in the space.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
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