As expected, we got a monster move in Nvidia on earnings, which we discussed during last week’s edition of Crush the Open…
We also got a sharp move down in the broad market after the latest core Personal Consumption Expenditures inflation data came in super hot. Analysts expected 3.9% month over month for the fourth quarter…
And we got 4.3%.
This number would be going down, not up, if the suits at the Federal Reserve were doing a good job. But these people are just winging it. They don’t have a real plan and it’s akin to showing up to a four-alarm fire with squirt guns…
And they’re the ones who started the fire in the first place!
At the start of February, the Nasdaq peaked at 12,269. By Friday’s close, we were at about 11,394, more than 7% off the high. When we have moves like this, we’re bound to have a proportional bounce, which I believe we’ll get this week, and Monday started things off strong…
By the end of the week, I would expect a proportional bounce of around 4.5%. So that’s where things stand for the broad market… But what about red meat earnings trades for the week?!
We also covered that Monday morning on Crush the Open, so check out the video up top and we’ll dig into plays in…
- Occidental Petroleum Corp. (NYSE: OXY).
- Snowflake Inc. (NYSE: SNOW).
- Peabody Energy Corp. (NYSE: BTU).
We discussed these trades over the last 10 minutes or so.
Are there any topics you’d like to see me cover or questions you’d like answered? Send me an email at [email protected] with your trading questions and I may cover them in a future video. You can also join my free Telegram channel, where I share market insights real time throughout the week, articles, videos and more!
*This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk.
P.S. See Me Unveil All My Secrets for Trading Q1
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From 12/15/2020 to 02/24/23 on closed trade signals, the average win rate is 55.47%, and the average return per position (winners and losers) is 1.73% with an average hold time of 1 day on the options, with annual return of 345.56%.
