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Why My Blitz Market Color Readers Were Ready for Tuesday’s Rally

by | Jul 21, 2021 | Uncategorized

Earning season is back in full swing!

International Business Machines Corp. (NYSE: IBM) came out after the bell Monday and beat its top- and bottom-line estimates, which was more than enough to give Big Blue a nice pop Tuesday morning… 

Come to think of it, that reminds me of another company that’s also blue and reporting next week — Pfizer Inc. (NYSE: PFE), anyone?

Following Monday’s sell-off, the bulls came back to the market for a nice rebound with the Dow, S&P 500 and Nasdaq all up about 1.5%. What a turnaround! 

After a solid day of paper-handed traders running around screaming and selling their entire portfolios, they came back the next day and acted like nothing ever happened. 

It’s a 180-degree turn that no one could have seen coming… Right?

Well, that might be the case for most traders, but we are not “most traders,” are we?

If There’s No Plan, There’s No Victory

If you watch my weekly Blitz Market Color video — or even better, if you were following the Blitz Daily Market Color — you know I’m always looking at the Richard Arms Index ($TRIN).

And the TRIN can’t stay above 1.8 to 2.0 for long. It has to come back down, meaning the S&P 500 should bounce.

And while we were still in the middle of the sell-off, I was updating the Daily Market Color, watching my Blitz Tracker and planning what our next moves would be.

Then about 30 minutes before Monday’s close, we had a major bounce with some big follow through in Tuesday’s premarket.

That’s when I started to put my plan into action…

The Blitz Daily Market Color and Another Triple-Digit Winner

So what did I do? I started to take selective long trades in a few positions.

Now, I don’t want to tell you all of my positions, but if you’re a Weekly Blitz Alerts member, then you’ve probably seen most of them — especially if you follow the Blitz Daily Market Color. I update it live with the hottest order flow hitting the tape Monday through Thursday.,

Of course, I hope you’re all Blitz members. It’s worth its value just in trade ideas and education alone.

In fact, we took profits at today’s open with the markets continuing their rally — including 50% gains in International Game Technology PLC (NYSE: IGT) and Canopy Growth Corp. (Nasdaq: CGC), and a 330% win on the last leg of our Coca-Cola Co. (NYSE: KO) trade!

From here I look to selectively take out puts on a few weaker stocks with earnings dates coming up in the next two to three weeks.

You have to love it when a plan comes together… And that’s exactly what we were busy doing during the Monday sell-off.

Traders should always be on the hunt for profitable ideas, and Weekly Blitz Alerts, along with the Blitz Daily Market Color, are full of them!

Be sure to check out the video below for more on earnings, Monday’s sell-off and why traders can’t rely on the news to navigate market swings. 

And of course, I’ll be back later today with the low-down on today’s top options flow in The Blitz Daily!

P.S., P.S. Ever wonder why Wall Street always seems to be one step ahead of the average Joe trader? 

It’s because the big firms have a ton of top-secret trading strategies that give them an edge over everyone else!

And while their methods are usually kept under lock and key… I’m pulling back the curtain on Wall Street’s best kept market strategy. 

I’m ready to reveal how tracking what I call a “Shadow Blitz” can help predict which stocks are ready to explode…

Handing everyday traders huge cash windfalls in as little as 24 hours!

How to use uhis powerful trading discovery.

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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