To receive further updates on this JetBlue Airways Corporation (NASDAQ:JBLU) trade as well as an alert when it’s time to take profits, sign up for a risk-free trial of Power Options Weekly today.
My indicators are now giving bullish readings, an upgrade from their previous neutral-to-bearish readings, as there were several bullish developments that crossed the tape last week.
First, Fed Chair Janet Yellen was much more dovish in her testimony before Congress than many market participants were expecting, and she indicated that rates might not rise much more this year. While the Fed was originally forecasting up to four rate hikes in 2017, it appears we may only see one more at the Federal Open Market Committee (FOMC)’s meeting in December.
Another bullish indication was that the transportation sector moved to new highs at the same time that new highs were being set on the Dow Jones index, which, according to “Dow Theory,” is a bullish sign. So it should come as no surprise that my recommendation today involves JetBlue Airways Corporation (NASDAQ:JBLU).
Buy to open the JBLU Sep 24 Calls (JBLU170915C00024000) at $1.00 or lower.
Follow our Facebook page to receive each Trade of the Day direct to your News Feed.
InvestorPlace advisor Ken Trester brings you Power Options Weekly, which delivers 5 new options trades and his latest trading advice to you each Friday. It’s the perfect ‘bridge’ between investing in ordinary stocks and the turbocharged world of options trading.
Trester has been trading options since the first exchanges opened in 1973 with a winning streak that goes back to 1984 with money-doubling average annual profits since 1990. Try Power Options Weekly today and receive 2 weeks for the price of 1 for only $19.95.