Tesla $600? Too Soon to Say?
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Week. SPX futures are +15 handles as we kick off Fed week. We’ll see if SPX holds the 6030 area to consolidate for one more move up into year-end. Tech led the charge over the past few weeks. QQQ hit a high of $533 after the wedge pattern triggered above $511+. We’ll see if the 8-day holds as we look for new setups. $524 is support. It’s been a great run for the Mag7 (minus NVDA), which is why I’m glad we focused on AAPL, META, TSLA, and AMZN in Power Plays over the past month. Unfortunately, I did some profit-taking early, but we can’t be perfect on everything. TSLA was my #1 focus pre and post-election. And it’s the #3 SPX name in December with a 26% gain. There were so many awesome setups and it’s at $440+ this morning. I’d trim and trail. It’s hard to buy it today, but that doesn’t mean it’s an easy short. It can see $550-$600 next year so I’m looking for opportunities to reload. SMH is trying to get out of the danger zone. AVGO responded well to earnings. Some are optimistic about MU this week. SMH needs to hold $246ish, otherwise back towards $237-$238 it can go. NVDA has been lagging. And ever since the Red Dog Reversal sell post-earnings, it’s just been a range trade. Watch $131.80-$132.50. If that doesn’t hold, it might bring out sellers. AMD gave a tactical Red Dog Reversal at $127.07 last week and got negated fast. I’d avoid it. Since we are approaching year-end, the January effect is a big part of my strategy. The January Effect is when beaten down stocks and sectors rally into year-end after tax-loss selling gets exhausted, and sentiment gets extremely negative. In recent years, the January Effect has started earlier and earlier due to trader anticipation. Three of my favorite January Effect names this year are CELH, OXY, and VAL. Just be aware that you never know if/when these types of names wake up, so you have to watch your sizing carefully. Featured: Join Scott Redler’s Plays for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next idea: See why now’s the right time to join. Your Tip for This Week Use Technicals: Not News Headlines and Economic Statistics As Your Guide to the Markets I earn my living trading, so price is the only thing that really matters. The news flow and macro trends are important, but not as much as actual market movement. Be aware of what’s going on in the world. Just take it all with a grain of salt. We make money by riding price movements — not by being trying to be ‘right’ about politics and the economy. Remember the Brexit or the 2016 US Presidential election? The news headlines said the world would end. The price action said otherwise — and the price action was right. Doomsday will hit sooner or later — but allow the market to tell us when. That’s why in Power Plays, we hunt for opportunities using trend analysis. This Week’s Calendar We have a busy week ahead with the Fed Rate Decision, Retail Sales, GDP, and more P.S. Don’t forget to check out Scott Redler’s Power Plays! *Scott Redler Positions Disclosure as of 2024-12-16 at 8.05.56 AM
Continue Reading -->FLASHBACK: JR Romero’s Wild Tesla Prediction
On June 5, we asked JR Romero “If I could give you $1 million in any stock right now, what would it be?” JR answered Tesla (TSLA) — back when the stock was trading at just $175. JR explained: That Tesla (TSLA) was BRUTALLU undervalued The power of Tesla’s AI, robotics, and Robotaxi efforts Why he liked it more than Nvidia (NVDA) And what happened? Tesla went to $425+ for a 143% gain. At the time of JR’s prediction, analysts were predicting Tesla would hit just $181.90. JR was right. Wall Street was wrong. And now Tesla is the 3rd best performing Mag7 name this year with a 72% gain.
Continue Reading -->Tesla $500? My Opinion…
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. Welcome to the latest edition of Dog Bytes! SPX futures are down -13 following today’s PPI report and a big post-CPI rally yesterday. It seems like a 25bp rate cut for 12/18 is guaranteed. But the language is something of a mystery. Europe is flattish, and China is up ahead of its stimulus conference. ADBE is down 10% after earnings while AVGO reports after the close. There is still lots of great action in Mag7 and Bitcoin, which have been a cornerstone in the Power Plays newsletter ($99 for 1 year) the past few months. But let’s talk about the big topic today… TSLA has been AWESOME with so many ways to play it. The last setup was when it held $348 to clear $362. Yesterday, it made a new all-time high. And this morning it hit $429.52! Of course, this has some asking if TSLA can hit $500. My answer is of course anything is possible — we could see more upside in the weeks ahead. But the real question is what do I do today? I want to be trimming TSLA here, not adding. And so we’re clear — I would not be looking to get short. SMH remains challenged. Every time it’s about to break down, it holds. $234 held and is our new point of reference. $247 is pivot resistance. Above that, and it looks more constructive to be long. AVGO reports after the close. NVDA reversed to the upside yesterday. It held above $133.80 to get it out of the danger zone. It still has to prove it can be special. It needs to clear and hold $141 to look better. PLTR had a monster move this year. Recently, it made a big topping bearish engulfing candle with a high of $80+. It’s looser and wider. Short-term, $68 needs to hold. RDDT rebuilt fast after a high of $180. As long as this holds $152ish, it looks good. CCJ broke $60.55 to get any active momentum traders out, then lost the 8-day to confirm weakness. Some might try longs vs. $55.78. It has a lot of work to do. Featured: Join Scott Redler’s Plays for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next idea: See why now’s the right time to join. *Scott Redler Positions Disclosure as of 2024-12-12 at 9.45.53 AM
Continue Reading -->JR Romero: The Future Teller
Can JR Romero see into the future? With how things have been going lately… it sure feels like it! Back on October 9, he said the SPX will top 6000. You can watch that hot take here: So we wanted to update you on JR’s takes from this now-legendary video. First, the SPX went from 5792 up to 6,099. What else happened in that video? JR said Palo Alto Networks (PANW) was going back to $380. It hit that target and ran past $400. He also issued an insane $250-$254 price target on controversial Bitcoin name Microstrategy (MSTR). Mind you, MSTR was at $188.91 when JR issued that target… and it more than doubled that target! And of course JR has been bullish on Bitcoin since early October – a full grand slam home run! But what about Carnival (CCL)? JR predicted a $7-8 measured move. It went from $18.87 to $27.16! He also said Robinhood (HOOD) looks fantastic. It’s rallied all the way from $25.65 to $42.76! Nutanix (NTNX) was also in focus. JR said it would fill the gap to the $71 handle. And it went from $63.17 to $75.80. And his other picks: Starbucks (SBUX) $94.87 to $103.32 Chewy (CHWY) $30.06 to $35.87 Air Products (APD) $310.20 to $332.43 Snowflake (SNOW) $113.85 to $186.82 All of his picks have rallied since that video. 11 for 11. Not bad, huh?
Continue Reading -->Tesla $400? Is It Time?
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. We have mixed markets around the world as China stands out with FXI +6%. The PBOC published a very dovish report with looser monetary policy and more forceful fiscal support. Here in the US, the Mag7 names have been the stars lately, which is why we’ve been so active in AAPL, META, TSLA, and AMZN in Power Plays the past month. Unfortunately, I took off Amazon way too early. AAPL: I’ve been buying dips the past few weeks as it rebuilt and worked higher. I focused on buying through $230 and $237 and it hit $244+ to manage. I sold my calls into strength. It’s been digesting a few days. If it breaks $241.25, we’ll see how it handles the 8 day. TSLA continues to reward longs for buying pre- and post-election. Last week, the strategy was to be long above $348 and add above $361. It’s at $395+ so I trimmed some this morning. If it holds higher, it could see the $414.50 all-time high from 2021. AMZN had a mega move to pay investors who sat through all the selling drama and split. It hit $227+ Friday. Active traders also did well through $202ish, and it’s acted very well since then. I sold last week and need to be patient now. META gave us a big move. I bought it around $590 and added when it cleared $603. it hit $629+ Friday to manage. I’m still in stock but sold my calls. We’ll see if it holds $619 now. NVDA is the subject of an anti-monopoly investigation in China which has it lower. See if it makes a low in the first 5-15-30-60 minutes or if it becomes a headwind today. $140.29 is an important spot, then the 50-day is below near $136. Featured: Join Scott Redler’s Plays for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next idea: See why now’s the right time to join. Your Tip for This Week: Keep an Even Keel I don’t know what’s worse: having too much confidence or not enough. So don’t go overboard celebrating your trading wins. We want winning to be a normal day at the office — not special occasions that are so rare they’re worth celebrating! And don’t go overboard crying over your losses, because underconfidence will prevent you from executing on good trades. You have to accept that losing is part of the game. Just make sure you lose small, and use those bad trades to figure out what you can improve for next time. If you learn from your losses, you’re at least getting something out of them. This Week’s Calendar We have a busy week ahead with the CPI, PPI, ECB Rate decision plus earnings from ORCL, MDB, and others. P.S. Don’t forget to check out Scott Redler’s Power Plays! *Scott Redler Positions Disclosure as of 2024-12-09 at 8.50.02 AM
Continue Reading -->Will Nvidia Get “Medieval” On Us? Why JR Romero Still LOVES This Stock
When Nvidia (NVDA) was at $132 last week, JR Romero predicted a “Biblical” Rally. But will it get “Medieval” on us? JR answers in this new video: Watch and learn about: What made Nvidia’s chart so powerful How the idea got confirmed How JR is analyzing the stock into the overhead supply If he still thinks the stock is going to $200 His new short-term target What makes Advanced Micro Devices (AMD) different from Nvidia (but good in its own right) By the way, did you know that Nvidia, while up huge this year, is NOT the #1 name in the SPX? See the rankings:
Continue Reading -->Why Apple and Meta Are Leading
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. On December 3, 2024, Scott appeared on ‘The Claman Countdown” on Fox Business, alongside Natixis’ Jack Janasiewicz: Watch the latest video at foxbusiness.com Scott went over: Why traders have become numb to geopolitical headlines Why there has been a “flight to quality” towards Mag7 names like Apple (AAPL) & Meta (META) – both current ideas in Power Plays The reason people are not selling Mag7 stocks into year-end Which names are likely to lead into year-end How Scott finds new ideas amid the market’s constant rotations How the “Fed put” is supporting the market Why the “Goldilocks” theme is winning right now The power of market timing when it comes to creating alpha Featured: Get 1 Year of Scott’s Top Ideas for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next one: See why now’s the right time to join. *Scott Redler Positions Disclosure as of 2024-12-04 at 7.56.58 AM
Continue Reading -->David Prince’s Favorite AI Stock… That’s Not Nvidia
David Prince’s current favorite AI play isn’t Nvidia (NVDA). Ahead of Nvidia’s earnings report last month, he was focused on Astera Labs (ALAB) for a sympathy play. David explains why he liked ALAB then and where the stock is headed from here: David also covers: When he sees Nvidia (NVDA) hitting $150 Whether Tesla (TSLA) can continue to lead in 2025 Why he likes Amazon (AMZN) here His market expectations for December And more! Want to work with David? Apply to join the Inner Circle here! Here’s a chart showing how much ALAB has outperformed NVDA as of late:
Continue Reading -->I Chose THIS Bitcoin Play
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. SPX futures are flat and off the lows as we see if we can hold 5984 this week to keep upper commitment to this active sequence which started on September 11. Each week has a different feel. It’s a new month so we should get some new flows to keep upper levels intact. Markets are pricing in a 65% chance of one more 25 bps cut on 12/18, so this Friday’s jobs report will be important. We still get some news/developments out of the incoming President. Mexico/Canada tariff risks seem reduced, and the BRIC countries will stay with the US Dollar. Now let’s dig into strategy points for this week. Bitcoin became my #1 theme on October 11. It had a beautiful move from $62Kish to $99k+. We participated along the way in Power Plays via multiple names. On Friday, I added Bitcoin miner TeraWulf (WULF) back to Power Plays. Stanley Druckenmiller just upped his stake. And as long as it holds the $6 to $6.40, there could be very big upside in this one. So you can call me “RED WULF” this week, as long as this stock holds up of course! TSLA re-built nicely last week and perked up Friday. I did get long shares again and went with $360 calls. It was upgraded this morning with more FSD rollout talk. We’ll see if early strength builds. AAPL: I’ve been buying dips the past few weeks as it re-built and worked higher. On Friday, it cleared $235 to see $237.81. It seems like this can rally into year-end. $233 needs to hold. CCJ is the best-in-breed uranium play for institutions. The 50-day was buyable into the $50-$52 area and it hit $61ish. It needed to let the 8-day catch up and $57.11 held. We’ll see if it tries for new highs again. Keep this on your radar. Featured: Join Scott Redler’s Plays for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next idea: See why now’s the right time to join. Your Tip for This Week: Don’t Try to Fix Monday’s Losses on Tuesday Every day is a fresh start. As traders, we must maximize the opportunities that are in front of us in the present moment. Forget about what happened yesterday, and don’t obsess over what may happen tomorrow. Let’s say you have a bad Monday. Don’t come in on Tuesday thinking you have to make up for it. You won’t be able to manage risk because you’ll be trading out of desperation. We all have rough stretches. But if we follow our principles and enter every day with a plan, our good days will outweigh the bad. Just take it one day at a time. On the flip side, if you make a fortune on Tuesday, don’t get lazy on Wednesday! Stick to your plan and make the most out of what you see. There’s no reason you can’t do better tomorrow. This Week’s Calendar The jobs report this week is key because there is some uncertainty over the Fed’s rate cut trajectory. And tech names CRM and MRVL will be closely watched as well. P.S. Don’t forget to check out Scott Redler’s Power Plays! *Scott Redler Positions Disclosure as of 2024-12-02 at 7.56.58 AM
Continue Reading -->I Bought Nvidia – Because a “Biblical” Rally Is Coming
On September 25, JR issued a $200 price target on Nvidia (NVDA). And while the stock has stumbled since earnings, he is still bullish, expecting the stock to rally in “Biblical Fashion.” According to JR, every technical indicator is lining up in bullish fashion. So he expects the stock to resolve much higher — and fast… precisely when everyone seems to have turned cautious on the stock. That’s why he said $132 was the time to buy. Of course, only time will tell if Nvidia hits his $200 target price. By the way, did you know that Nvidia is now the second best performing stock in the QQQ ETF this year? It’s far behind Applovin (APP).
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