norok
Long

NWL at MTF Support pre-Earnings

NYSE:NWL   NEWELL BRANDS INC
16 0 1
Taking a pre-earnings play on NWL at matching support on the Weekly, Daily, and Swing trading levels. The September 49 Calls are at average Implied Volatility so I'm taking singles. The top of the consolidation range and a break thereof will get the Calls ITM.

Current Market Outlook
I follow the theory of Sector rotation in terms of what the movement of money into particular sectors means for the market cycle and economic cycle. Right now based on my positions I can tell what is moving up and what is moving down.

NWL is a Consumer Staples             sector. This is one of the best performing sectors of the current year and has outperformed the market as a whole for the last 4 quarters. This, combined with MO in Consumer Staples             and Utilities companies like DTE             and DUK             , is what I am net long. Materials companies such as EMN             I am net short. Technology is also showing bearish signs. Yesterday I took a day trade short on JNPR             which worked out after a downgrade. M and WMT             were bearish plays this year.

Money "flight to safety" of dividend paying, stable and well understood companies paired with retail failure and lower demand for raw materials is a model that points to one thing; a bear market.
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