Tesla Destroys the Bears – THIS Is My Game Plan Now
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. SPX futures are +25 after shaking the tree down to the 21-day yesterday at 5762. SPY broke $580.50 and hit a low of $574.41 to shake the tree. I was long SPY puts and short premium in anticipation of that. Today SPY is up as we see if $580.50-$581.75 serves as stiff resistance. I’m not bearish — I just think we can be stuck in a range for a while. I shorted some SPY around $580.75 pre-market. Now let’s dig into some individual names, starting with the topic of today’s newsletter: TSLA is up 14% on its impressive earnings report, pushing the bears back, big time. The stock has been stuck in a range trade since the 2021 top, but we could see $260 to $271 before the election, though of course that depends on what kind of follow-through we see. I’m coming in long 11/8 $240 calls. This is what I’m looking to do: Sell 25% of the calls to lock in immediate profit Turn 25% of the calls into a spread to reduce risk Hold 50% to potentially benefit from more upside I also played the stock through the $224 gap yesterday afternoon. AAPL: there is a lot of debate about how the quarter will turn out. There was a report yesterday about lower iPhone 16 orders. It held $227-ish. I’d avoid it until closer to the print. Actively, it’s tricky. But it’s fine as a long-term investment. NVDA held the 8-day yesterday, giving us $137 as a new point of reference moving forward. That needs to hold. I don’t think it runs away, but it’s still a focus. Pivot resistance is $142, then $143.71. IBIT held where it had to yesterday, giving us the $37 area as new support. I got bigger and I’ll trim some this morning. 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 2024-10-24 at 8.26.56 AM
Continue Reading -->Why I’m Bearish On Tesla Into Earnings
Does Tesla (TSLA) look like trash into earnings? JR Romero says YES: JR explains: Why the Robotaxi was a “crack in the foundation” for Tesla stock The fundamental questions that could sink the stock Why Tesla stock is at risk of falling after earnings today If it’s fair to compare Tesla to Amazon (AMZN) How Elon Musk’s “pie in the sky” promises impact the stock’s valuation The risks with Elon’s increased political activity, which make no sense based on the company’s business model The reasons he is bullish on the stock long-term, even with its short-term challenges
Continue Reading -->5 Rules for Novice Traders to Succeed from JR Romero
JR Romero says the rules of trading are simple, but the execution is not easy. In this video, he goes through the 5 things novice and intermediate traders need to do in order to succeed: JR shares: The post-market routine you need to establish Keys to creating a solid game plan How to recognize what is moving in the market How to find your edge in trading Why money and risk management rule all
Continue Reading -->Bitcoin Looks Good. Ethereum Looks BETTER.
Two weeks ago, Sami Abusaad came out roaring bullish on Bitcoin. It still looks good. But Ethereum looks even better – Sami explains why here: Also learn: Why stocks still look bullish but sloppy from here Why the day-to-day action is so unpredictable, even within a bull market The types of trades Sami can’t find right now The controversial ETF Sami wants to add to Why Sami wants to add to Disney (DIS) An online dating stock with an amazing monthly chart Why Sami sold Tesla (TSLA) into the Robotaxi event, and what he’s doing with it into earnings Why he likes to trade TSLL instead of TSLA itself The crypto miner that could rise 70% from here
Continue Reading -->Bitcoin Is Beautiful
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. SPX futures are -18 as rates rise a little this morning. China’s PBOC cut its 1- and 5-year loan prime rates by 25bps. Fed funds are pricing in 43bps of cuts in 2024, so it might only be one more this year. After six weeks of gains, some are a little worried as we get closer to the election. We’ll see if 5840ish holds, but for things to change actively, a hard close below 5804ish needs to happen. Now let’s dig into some individual names, starting with the topic of today’s email: Bitcoin is still a major focus in Power Plays. It woke up 10/14 as it cleared $62k-ish. I bought MARA calls, CORZ, MSTR, and WULF to participate. We’ll see if BTC can hold $66k-$67k to drive faster momentum. The weekly/monthly charts look beautiful and point to new highs at $85k+. TSLA was sold on the Robotaxi Event. Six tight days like we just saw don’t happen often. Expectations are very low for earnings this Wednesday. I bought small lotto calls for after the election. $217 is active support, then the key is $214. $224ish is gap resistance pivot. We did well with NVDA calls last week and I rolled them up. Now we see if the $136 area holds to keep momentum here. $140.89 is important resistance. The action here today will be more important than Friday. LLY has a nice upper channel since July. I did nibble some $990 11/1 calls for earnings in case it has a big beat and split. If it does a pre-earnings move, I’ll create a spread. GLD opening at new historic highs, rewarding many on all time frames. It’s $252+ to manage. I’d trim, not add today. This laggard looks okay for a tactical long. I did buy some calls. It needs to get and stay above $21ish to open the door for higher prices. 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: Set Goals for the Future It’s important to have short-term plans. And netting gains as often as you can is key to success. But think about where you want to go long-term, whether you want to be a pro or not. Once you have some goals in place, you can step back and start to put a plan for success in place. Maybe you’ll need more education, or to learn a new asset class like options. You may also need to develop more psychological resilience to deal with the day-to-day chaos. So set some goals for yourself, even ones that seem out of reach. You might surprise yourself. This Week’s Calendar We have some big earnings reports this week from SAP, GE, TSLA, and others. P.S. Don’t forget to check out Scott Redler’s Power Plays! *Scott Redler Positions Disclosure as of 2024-10-21 at 7.50.22 AM
Continue Reading -->69% Gain = $10 Swing Trader’s Best Week Ever
Sami Abusaad’s $10 Swing Trader newsletter is having its best week ever, thanks to home runs in Wave Life Sciences (WVE), Ericsson (ERIC), and Lithium Americas (LAC). Sami Abusaad had a SHOCKING gain in $WVE. And $ERIC too. Here’s how it went down: pic.twitter.com/ydAb1B5UY1 — T3 Live (@t3live) October 17, 2024 WVE is now the single best performer in $10 Swing Trader history, up over 69% from Sami’s entry. On October 16 — just 2 days after Sami’s entry — WVE gapped up 74% in one day on positive study data. And what’s Sami doing now? He’s letting his profit run. Sami sees potential for WVE to hit $30 — a 242% gain from the $8.76 entry. However, risk management can’t be ignored. As he told $10 Swing Trader members, the stop strategy is now to use a “daily bar-by-bar approach.’ This means he will only exit the trade when it falls below a prior day’s low. Since WVE is a wild biotech stock, this will help Sami protect his gains. Yes, $30 is possible. But it’s not guaranteed. Now let’s talk about Ericsson (ERIC) — a slow, boring, value stock that’s been so strong that Sami added on the way up. Too many traders rush to take profits. But sometimes, Sami will actually add to a position on the way up to magnify his profits. In this case, Sami got long ERIC at $6.21 and then added at $6.38. The game plan now with ERIC is to use $8.09 as a stop. So in the worst case, he would be up 28% on ERIC. (calculated using an average of his $6.21 and $6.38 buys). Sami still sees ERIC hitting $9. Now let’s talk about Lithium Americas (LAC). As of late, stocks related to electricity (utilities, electricity infrastructure, nuclear, uranium, etc.) have been absolutely booming. In $10 Swing Trader, we positioned into LAC on October 7 with a $2.86 entry based on a Daily Transition A Breakout. Then on October 16, General Motors (GM) announced it was contributing $625 million to a joint venture with LAC. So now $10 Swing Trader is sitting on a big gain. But, the fun may not be over. Sami sees potential for LAC to hit $6 a share, which would be a 109.7% gain from his original $2.86 entry. Want to get Sami’s next batch of $10 Swing Trades this weekend? Head here.
Continue Reading -->Nvidia $140 Matters Right Here, Right Now
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. SPX futures are +20 after the 8-day held yesterday near 5800ish. TSM has the semis higher as it overshadows the ASML disappointment. That’s the big question. There’s lots of great action as the IWM hit monthly highs, and energy grid names did very well yesterday. SPX 5871 is the recent high. Now let’s dig into some individual names: NVDA: I bought NVDA $140 calls for next Friday into the weakness. Today we’ll see if it has enough power to get and stay above the $140 area. That’s what tech wants right now, so keep that level on your radar. TSLA was sold on the Robotaxi Event. It might be worth a look if it can hold $214 and get into the gap above $224. If that gap doesn’t get filled soon, it can go lower. It’s very choppy but looks like it will resolve soon. RDDT had a nice move from $64ish to $77+ to manage. I added back as it held the 8-day and now lit ooks ready for a move to $80+ in the weeks ahead. CCJ was a nice accumulate around the 8 day near $49-$50 and it had a nice day yesterday to see $55.97. I’d think it sees $60+ in the weeks/months ahead. I’d stay with it. IBIT woke up last Friday to get me bigger. It hit $38.93 to manage. $36.82 is key gap support that needs to hold. I’m looking to reload lower. 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 2024-10-17 at 7.23.40 AM
Continue Reading -->Alpha In This Market Is Under The Hood
David Prince says “there’s a lot of alpha under the hood” in this market. That means he’s trading less MAG7 names and focusing on themes. Two big themes lately have been FinTech, with stocks like Affirm (AFRM) and Upstart (UPST), and Chinese names like Alibaba (BABA). David joined an X Space with other traders to discuss the current market and what he’s doing, his comments start at 26:00 in: https://t.co/xPKRJDJhEU — Jake Wujastyk (@Jake__Wujastyk) October 15, 2024 He also discusses: Why he doesn’t subscribe to “black swan” events How he’s sizing big on good opportunities Expectations for XBI and IWM into the end of the year Want to trade with David? Apply to join the Inner Circle now!
Continue Reading -->This Bull Market Is Not Over. Here’s Why.
Sami Abusaad explains why the market is still bullish – even if we get a little sideways action. Sami explains: Why SPY and QQQ are so bullish The power of IWM’s big green bar from Friday, and why it’s still sloppy The controversial ETF Sami likes here Another silver play Sami sees rallying now Why Generac (GNRC) can extend its recent gains based on the monthly chart The bull case for Lululemon (LULU) The catch-up airline play that is on Sami’s watch list Why Walgreens (WBA) might end its 8-year downtrend – though it needs a tight stop His updated take on Alibaba (BABA) 3 short ideas for this week And MORE!
Continue Reading -->Yes, Bitcoin Can Hit $100,000+
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. The Soft Landing/Goldilocks rally hit a new high of SPX 5822 on Friday. Bank earnings produced new highs in the XLF as JPM and BLK had big gains. Earnings season will create big moves in the weeks ahead, so know what you own and why. Tech did not lead the tape to new all-time highs, but the QQQ’s cleared its wedge last week to participate. We’ll see if it holds $489ish to clear $494.45 to work towards the $501-$503 area. Now let’s dig into some individual names, starting with the topic of today’s post: Bitcoin is now a major focus in Power Plays, with IBIT and SQ as recent ideas. Plus I personally hold those, as well as MARA calls and CORZ stock. Bitcoin could hit $100,000 to $150,000 in 3-6 months. It reminds me of FXI, which took off after building a huge channel. But of course, let’s watch the price action and manage risk along the way. Nothing is a sure thing. XBI had its first decent upside candle in a while on Friday. I added to my calls for December. It needs to hold $95, and we’ll see how it handles the $99.65 area. Then $103ish is the major. AVGO is erratic at times but is one of the few semis near highs of the year. It looks good. It needs to hold $177. Perhaps this week it clears $186.42. U: Software got a bit better. This laggard looks okay for a tactical long. I did buy some calls. It needs to get and stay above $21ish to open the door for higher prices. 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: Take Responsibility for Every Penny When you lose money, don’t blame the Fed or an analyst or some guy on TV. After all, when you do earn a profit, you take the credit. Right? Take responsibility for every penny. You agreed to place the trade. You must own whatever comes next, whether it’s win, lose, or draw. Traders that blame others for their actions don’t last. Because when you always shift the blame, you stop improving. It’s okay to lose sometimes. Use that an excuse to get better — not to pass the buck. This Week’s Calendar It’s a busy week earnings-wise, with NFLX, UNG, GS, BAC, C , ASML, TSM and plenty of others hitting: P.S. Don’t forget to check out Scott Redler’s Power Plays! *Scott Redler Positions Disclosure as of 2024-10-14 at 8.35.24 AM
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