Market Edge Advisory Subscribers,
We apologize for the continued difficulty you might be experiencing during our transition of our web hosting company to a more robust infrastructure, with additional benefits.
So we are having to e-mail you our trade recommendations for tomorrow, which are as follows:
Suncor Energy Inc. (SU).
Trade: Provided it does not open below $34.25, over 5-Min. high consider shorting Mar (3/16) $33/28 bull put credit spread (25 DTE) at mid-point but limit of $.32/share (closed at $.35/share).
Technical Setup: Breakout from bottoming pattern on r200-MA daily, stock and sector oversold.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $32.88.
Invitae Corporation (NVTA).
Trade: Over $6.63, consider buying stock.
Technical Setup: Bullish Bottoming Tail, +Vol. and small reverse head and shoulders daily, Climactic Buy Setup weekly.
Stop Loss: $5.14 for now. Earnings 5/14.
The Hershey Company (HSY).
Trade: Provided it does not open above $28.25, consider shorting Mar (3/9) $97.5/93.5 bull put credit spread (17 DTE) at mid-point but limit of $.47/share (closed at $.53/share).
Technical Setup: Breakdown daily and bearish/extended weekly and monthly.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $98.08.
Echo Global Logistics, Inc. (ECHO).
Trade: Provided it does not open above $28.25, consider shorting Mar (3/16) $30/35 bear call credit spread (25 DTE) at mid-point but limit of $.40/share (closed at $.45/share).
Technical Setup: Breakdown daily and bearish/extended weekly and monthly.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $29.82.
Instructure, Inc. (INST).
Trade: Over $42.65, consider buying stock.
Technical Setup: Bullish engulfing following Pro Gap breakout and shallow retracement daily, bullish weekly and monthly.
Stop Loss: $40.24. Earnings 5/7.
MasterTrader and You Building Your Financial Future Together
Happy trading! If you have any questions or comments, please e-mail Greg Capra at Greg@mastertrader.com or Dan Gibby at Dan@mastertrader.com
All the best,
Greg Capra
Managing Director of Master Trader
Pristine’s Founder and Creator of the Pristine Method
Dan Gibby
Chief Options Strategist
Follow Greg on Twitter, YouTube, and StockTwits to get real-time updates and education:
Twitter: @GregCapra
Stocktwits: Greg_Capra
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NOTE: Master Trader will show opening and closing prices of all stock and option trades. We do not recommend proper share size for your particular trading style, risk tolerance, or account balance. We urge you to calculate your own share size based on your individualized risk parameters, Trading Plan, and familiarity with the proposed trade strategy and risk.
NOTE: Master Trader and its representatives might have existing positions in these and other trade recommendations before or after suggested herein. Additionally, we often manage them differently for internal purposes based on different risk parameters than noted herein.
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