Trade of the Day: Viacom, Inc. (NASDAQ:VIAB)

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Wednesday’s action certainly has kept the market down, and that was a result of the Federal Open Market Committee (FOMC) meeting minutes that alluded to former Fed Chair Alan Greenspan’s famous “irrational exuberance” comment from 1996.

Of course, the market kept rising for several years after Greenspan’s statement, but, nonetheless, the minutes spooked investors.

However, while we may have seen the first one-day reversal in about 14 months on Wednesday, April is historically a bullish month — we haven’t seen a down month in April since 2005, which shows you that there’s a strong bias to the upside. So, my feeling is that the market will either move sideways within its current range or rise gradually over the next month.

With that in mind, today I’m recommending a bullish trade: Viacom, Inc. (NASDAQ:VIAB) calls.

Buy to open the VIAB Jun 47.50 Calls (VIAB170616C00047500) at $1.20 or lower.

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Article printed from InvestorPlace Media, https://investorplace.com/2017/04/trade-day-viacom-inc-nasdaq-viab-2/.

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