Stocks closed the week in sizzling fashion, with the Nasdaq hitting record highs and the S&P 500 nearly getting there too.

The catalyst on Friday was better than expected jobs number. It’s been reported that unemployment has now reached 49-year lows and that wages are finally rising.

The market also got a boost earlier this week when the FOMC announced it was going to keep interest rates where they are and remain data dependent for the future.

And with the IPO market going crazy, it seems like this market is running hot . Beyond Meat’s +160% return on its IPO day (Thursday) is one of the best we’ve seen in decades.

That said, I do believe money will be made on both sides. So you need to be nimble, stay stock specific, and not fall in love with being a bull or bear.

For example, on Thursday I was cashing in on bearish bets in IWM, W, and FIVE.

(If you think you could benefit from my real-time trade alerts, click here to get started.)

I don’t expect sell-offs to last long. That’s why I was able to transition on Friday and score on some bullish option bets.

(My clients get my alerts in real-time. Whether stocks are rising or falling, my system works, click here and to get the WMM advantage today.)

However, now is not the time to load the boat in anything. And while the risk in the market isn’t there at the moment, it can pop up at any time. For example, some concerns traders have moving forward is a strengthening dollar, uncertainty regarding trade talks, and the upcoming presidential election.

That said, I want to prepare for this upcoming trading week by giving you a rundown on some earnings and economic events that are happening.

Also, I want to review some recent winners I had, as well as, a weird trick I found that helped me bank on W earnings. Continue reading…

 

Jump on the Week – Market Near All-Time High

 

Last week, the Federal Open Market Committee (FOMC) announced it would leave rates unchanged (as expected)… and they noted inflation is running below its 2% target. Not only that, the Fed indicated it would not look to do anything with interest rates just yet. That said, the markets got a little spooked on Wednesday and sold off shortly after the Fed press conference.

However, we all know the first move is typically the wrong move with the Fed.

Well, on Friday, the strong jobs report led the market higher… and I figured it would be a bullish day. That said, I day traded SPDR S&P 500 ETF (SPY) calls and was looking for it to get to $293 (an alert I sent out to Weekly Money Multiplier clients).

Here’s how that trade turned out.

(I trade options because it allows me to control risk while still going after big returns, if you want my trade alerts, click here to join)

Remember, this SPY trade was just a day trade. I’m not going to go out on a limb and pick a market direction… it’s been really choppy price action as it’s right around a resistance level.

Right now, I’m going to remain data dependent with the market. However, I’ll still be looking for my money pattern in stocks, and earnings trades.

For example, I took an earnings trade in Wayfair Inc (W).

My thought process was the fact that W has been on a tear, but traffic volumes have been falling.

Here’s a look at the website stats for W.

With the huge drop in traffic, I figured the stock could miss its earnings estimates. However, since it was an earnings trade, I only had a small position in put option contracts.

Now, here’s what the stock did after its earnings announcement…

That’s another 100%+ winner in the books.

(If you want to learn how to trade around earnings announcements, click here to get my alerts in real time.)

That said, there’s going to be a lot more opportunities with companies still reporting earnings. Before we get a look at some of the stocks reporting earnings this week, let’s take a look at the economic calendar.

 

Economic Calendar

 

Monday, May 6, 2019

  • Chicago Fed Reserve Bank President Charles Evans speaks at 6:00 AM ET.
  • Philadelphia Fed Reserve Bank President Patrick Harker speaks at 9:30 AM ET.

Tuesday, May 7, 2019

  • Dallas Federal Reserve Bank President Robert Kaplan speaks at 7:00 AM ET.
  • JOLTS at 10:00 AM ET.

Wednesday, May 8, 2019

  • EIA Petroleum Status Report at 10:30 AM ET.

Thursday, May 9, 2019

  • International Trade at 8:30 AM ET.
  • Jobless claims at 8:30 AM ET.
  • PPI-FD at 8:30 AM ET.
  • Federal Reserve Chair Jerome Powell speaks at 8:30 AM ET.
  • EIA Natural Gas Report at 10:30 AM ET.
  • Fed Balance Sheet at 4:30 PM ET.

Friday, May 10, 2019

  • CPI at 8:30 AM ET.
  • Treasury Budget at 2:00 PM ET.

Moving on, let’s get into the corporate earnings calendar.

 

Corporate Earnings Calendar

 

Monday, May 6, 2019

Earnings Before Open

  • SYSCO Corp. (SYY) implying a 4.12% move. Historical average move 5.69%.
  • Tyson Foods (TSN) implying a 4.95% move. Historical average move 5.29%.
  • Delek US Holdings (DK) implying a 7.70% move (monthly contracts expiring May 17). Historical average move 7.65%.

Earnings After Close

  • American International Group (AIG) implying a 4.91% move. Historical average move 6.04%.
  • Occidental Petroleum (OXY) implying a 5.13% move. Historical average move 4.94%.
  • Hertz Global Holding (HTZ) implying a 12.99% move. Historical average move 19.89%.
  • Mosaic Co. (MOS) implying a 6.26% move. Historical average move 8.08%.

Tuesday, May 7, 2019

Earnings Before Open

  • Anheuser-Busch (BUD) implying a 4.60% move. Historical average move 5.82%.
  • U.S. Foods Holding (USFD) implying a 7.07% move (monthly contracts expiring May 17). Historical average move 6.61%.
  • Jacobs Engineering (JEC) implying a 6.71% move (monthly contracts expiring May 17). Historical average move 7.28%.
  • Allergan (AGN) implying a 5.67% move. Historical average move 5.48%.
  • Expeditors International (EXPD) implying a 6.01% move (monthly contracts expiring May 17). Historical average move 6.39%.
  • Regeneron Pharmaceuticals (REGN) implying a 6.69% move. Historical average move 5.41%.

Earnings After Close

  • Mylan (MYL) implying a 7.91% move. Historical average move 9.14%.
  • Davita (DVA) implying an 8.04% move (monthly contracts expiring May 17). Historical average move 7.3%.
  • Electronic Arts (EA) implying a 8.70% move. Historical average move 8.9%.
  • Papa John’s International (PZZA) implying an 8.20% move. Historical average move 8.69%.
  • Match Group (MTCH) implying an 11.50% move (monthly contracts expiring May 17). Historical average move 13.9%.
  • TripAdvisor (TRIP) implying a 10.24% move. Historical average move 15.62%.
  • HubSpot (HUBS) implying an 8.34% move (monthly contracts expiring May 17). Historical average move 6.88%.
  • 2U Inc. (TWOU) implying a 10.42% move (monthly contracts expiring May 17). Historical average move 9.78%.

Wednesday, May 8, 2019

Earnings Before Open

  • McKesson Corp. (MCK) implying a 6.38% move. Historical average move 5.87%.
  • Marathon Petroleum (MPC) implying a 6.15% move. Historical average move 4.5%.

Earnings After Close

  • Walt Disney Co. (DIS) implying a 4.40% move. Historical average move 3.07%.
  • 21st Century Fox (FOXA) implying a 6.34% move. Historical average move 2.91%.
  • CenturyLink (CTL) implying a 10.33% move. Historical average move 11.25%.
  • Perrigo (PRGO) implying a 7.41% move. Historical average move 10.28%.
  • InterActiveCorp (IAC) implying a 7.64% move (monthly contracts expiring May 17). Historical average move 6.55%.
  • Fossil (FOSL) implying a 14.86% move. Historical average move 28.8%.

Thursday, May 9, 2019

Earnings Before Open

  • Cardinal Health (CAH) implying a 6.62% move. Historical average move 7.55%.
  • Cheniere Energy (LNG) implying a 4.91% move. Historical average move 4.28%.
  • AMC Entertainment (AMC) implying a 7.83% move. Historical average move 9.14%.
  • Tapestry (TPR) implying a 10.13% move. Historical average move 11.75%.
  • Overstock.com (OSTK) implying a 15.01% move. Historical average move 16.77%.
  • Trade Desk (TTD) implying a 15.23% move. Historical average move 26.96%.

Earnings After Close

  • Arcelor Mittal (MT) implying a 7.15% move. Historical average move 3.94%.
  • Nutrien (NTR) implying a 4.56% move.
  • Symantec Corp. (SYMC) implying a 10.03% move. Historical average move 12.4%.
  • Dropbox (DBX) implying an 8.58% move.
  • Zillow (Z) implying a 12.75% move. Historical average move 13.96%.
  • Equifax (EFX) implying a 5.14% move. Historical average move 6.86%.
  • Yelp Inc. (YELP) implying an 11.57% move. Historical average move 18.28%.
  • GoPro Inc. (GPRO) implying a 14.05% move. Historical average move 15.23%.

Friday, May 10, 2019

Earnings Before Open

  • JD.com (JD) implying a 6.99% move. Historical average move 7.58%.
  • Marriott International (MAR) implying a 3.73% move. Historical average move 4.44%.
  • Viacom (VIAB) implying a 8.32% move. Historical average move 8.6%.

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