Today is Friday, February 8, 2019 and I just made my 1st trade of the year. In fact, I haven’t made a trade in about 4 months. Most Main Street beats Wall Street readers know I coach high school basketball and I haven’t had the time to concentrate on the market. The basketball season is winding down and I’m starting to do my market research. My regular season is over and we’ll be starting the New York City playoffs in about 10 days. I’m giving the kids 2 or 3 day off and we’ll be back to practice to get ready for our very competitive NYC playoffs starting on Monday.
Since I started writing this post I received 3 phone calls and 4 text messages about basketball. lol. Basketball takes crazy time!
I’ve been reading about Cleveland-Cliffs (CLF) and I think I can get a $1.00 to $1.50 out of the stock in the next week. With 1000 shares that would be a nice trade. Cleveland-Cliffs is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. CLF announced earnings before the market this morning. They came up a little short of exceptions but it looks like the street is happy. As I write the stock is up $1.14 and the stock is at $12.04. I bought 1000 shares at $11.70. It looks like I’m gonna hold the stock, without selling a Call, to see what it does. I’m looking to get out at about $13. Lets see what the rest of the day brings and hopefully it continues to move next week.
Buy 1000 Shares CLF @ $11.70
I’ll be easing back into trading as basketball comes to a close. I also need to catch up on some updates on a few pages in Main Street beats Wall Street. Give me a little time and we’ll be back on track to making money and showing you how the people who live on Main Street can be as successful as the people who work on Wall Street.
Steve
The Options Coach
Good luck to you and your team with the playoffs. Sure you will do well. Thanks for all you do for the community.
Thank you Chandra!