Is Technical Analysis Voodoo? JR Romero Answers
Is technical analysis voodoo? JR Romero answers that and a lot more: JR goes over: The market complexion following the PPI and CPI reports Why IWM is dead money you can ignore What successful traders do different The right way to perceive technical analysis and chart analysis Why you must focus on analyzing supply and demand in the markets Why JR does not expect new highs until Q4
Continue Reading -->Should You Buy CMG or SBUX After the CEO Shakeup? David Prince Answers
Chipotle Mexican Grill (CMG) lost its CEO to Starbucks (SBUX) on Tuesday. So what does that mean for both companies? Watch the video below for David Prince’s thoughts on whether these are a buy: David also covers: Home Depot (HD) earnings and what it signals for the economy Whether a light CPI is baked in for the market His recent trades in ELF, TQQQ, SOXL, and more David is hosting a free webinar this week to lay out his game plan for the weeks ahead. Click here to join!
Continue Reading -->META Is On My Mind – Here’s Why
Brought to You By Power Plays SPX futures are +12, giving some upside follow-through to last week’s bounce. PPI and CPI are coming up. These are the scenarios I have in mind: Scenario A: If we get inline/lower PPI and CPI, perhaps this bounce gets one more push towards the 5383 gap or even 5440ish (major spot). Scenario B: If the PPI/CPI is a bit hot, we can test some levels from last week starting near 5250ish. Last week’s low is 5119.Today I’d trim and trail as we just had a nice tradable move from last week, so get much more selective now. Now let’s dig into some individual names: META moved up the Mag7 Go-to list after the reaction to earnings. It’s still in a huge channel, but when this market gets better, this could be at new all-time highs first. The $492 area needs to hold. The next two resistance pivots are $527 and then $542. AAPL was a great focus one week ago into the $196-$202 re-test area. It hit $216.78 Friday. I’d reduce. $220ish will probably be big resistance if it sees it. If you don’t want to sell the name, maybe sell some calls to collect premium. NVDA was a focus last Monday and a great scoop into the $90.69 area. It’s very tight. We’ll see what it wants to do this week. It’s up a bit this morning. $103ish is active support. In order to tack on more gains, it will need to get and stay above $106.60, then $108.80 is above. PLTR reported earnings last week. Some are long vs. $25.57. It’s good to see a name like this holding gains in this environment. It hit an all-time high of $30.36. Manage your size. UNG was great from $15 to $20+ into June. It’s up pre-market around $14.70ish. This can hit $17.50+ish September/October. I bought some calls early last week. 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 Trading Tip for This Week: Don’t Overcomplicate Things Don’t get caught up chasing every bright shiny object and every new flavor of the month. You don’t need to know 100 strategies and 2,000 stocks. You can make a lot of money trading just a few strategies and a core group of 10-20 stocks that you know well. If you read my stuff, you know that my universe isn’t that big. I focus on 20-30 tech and momentum names while rotating other groups of interest in and out. It’s working for me, so why complicate things? Once you have your core strategies and stocks in place and you’re making money, you can start looking to expand your coverage. But don’t complicate things before then This Week’s Calendar We have a busy week coming with the US CPI & PPI reports, plus some big retail earnings. Positions Disclosure as of 2024-08-12 at 8.17.08 AM
Continue Reading -->Why I’m Bullish on the Market
In this week’s video, Sami Abusaad tells you why he’s so bullish on AirBnB (ABNB): Sami goes over: Why he likes the market, and where it can go How he expects the market to act from here The importance of the 20 day moving average Why Sami expects a “sell setup failure” Why Alibaba (BABA) looks ready to break out Why he likes other names including Shopify (SHOP) and Twilio (TWLO) The stocks he doesn’t like here
Continue Reading -->How to trade the 20-day moving average
Sami Abusaad is our top teacher here at T3 Live and he’s called the 20-day moving average, “The single most important tool I’ve ever used in my trading.” He doesn’t use a lot of indicators, just the: 20-day moving average 8-day moving average 200-day moving average Volume He also uses candlesticks to track price. This trading lesson is his most popular. Here’s a great example of how he’s used it: During strong uptrends… retracements tend to halt near the 20-day moving average. During a strong downtrend, rallies also tend to halt at the 20-day. Here’s the full lesson for you to get started: P.S. Sami just recommended two real estate stocks under $10 He’s ripped off 6 straight winners on stocks under $10 as small caps start breaking out. Recently, he released 2 new picks in the real estate sector. Watch Sami’s free training on how he finds these stocks under $10 trades.
Continue Reading -->Scott Redler’s most important morning market video since 2020
With the market in turmoil, I’m going to share with you what I’m doing with my own portfolio today. It doesn’t matter what the market is doing… it’s up to you to follow your rules, not have FOMO, not blow up, stay in the game and move forward and more. I’ve been doing this since 1997. I’ve been around more than most and seen many disasters. (I famously alerted investors on CNBC about the 2008 crash before it happened). I help keep traders safe. When you’re below the 8/21 day moving averages, you are NOT in swing positions. I’m trimming a ton of positions today (and was last week). 4x per week, I release a 6:30 am morning call going over positions, setups, etc. So, since 2020, I’ve probably done hundreds of these. This one today may be one of the most important I’ve done since the Covid panic days. Let’s dive in. First, I’ll go through the S&P 500: You would’ve seen a Red Dog reversal last week to protect you today… plus, seen the 8/21 day indicators overlap letting you know to trim. I’ll go through what that means. You’ll hear what level I’ll start putting money to work. Next — I’m looking at Nvidia (NVDA)… this big name is in correction territory. I’ll show you what level I’m buying with both hands. You’ll hear about why I’m trading Apple (AAPL) today… I also go through Tesla (TSLA), Meta (META), Microsoft (MSFT)… these are potential opportunities. Here is my entire 6:30 call. Watch it in 1.5x speed if you’re in a rush… but get educated on what’s happening in this market: Bonus message from Scott: If you want to get Scott’s #1 indicator and receive his market updates during this turbulent time, grab his free book and automatically receive his Dog Bytes newsletter every Monday. His #1 indicator would’ve alerted you to these massive market moves in mid-July! Start using this indicator today. Get it here. Scott Redler’s positions as of 09:34am ET August 5, 2024 Scott Redler is an Associated Member of T3 Trading Group, LLC (“T3TG”), a SEC Registered Broker-Dealer & Member of FINRA/SIPC. All trades made are placed through T3TG. T3 Live, LLC is a financial publisher that disseminates information about economic, business, and capital markets issues through various media. T3 Live is not a Broker-Dealer, an Investment Adviser, or any other type of business subject to regulation by the SEC, CFTC, state securities regulators or any “self-regulatory organization” (such as FINRA). Although T3 Live and T3TG are affiliated companies by virtue of common ownership, the companies are managed separately and engage in different businesses. The programs that T3TG distributes (including articles, commentary, videos, blogs and social media postings) are for informational and educational purposes only. 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Statements by any person (whether identified as associated with T3 Live, T3 Trading Group, or any other entity) represent the opinions of that person only and do not necessarily reflect the opinions of T3TG or any other person associated with T3TG. It is possible that any individual providing information or expressing an opinion on any T3TG program may hold an investment position (or may be contemplating holding an investment position) that is inconsistent with the information provided or the opinion being expressed. This may reflect the financial or other circumstances of the individual or it may reflect some other consideration. Viewers of T3TG programs should take this into account when evaluating the information provided or the opinion being expressed. Although T3TG strives to provide accurate and reliable information from sources that it believes to be reliable, T3TG makes no guarantees as to the accuracy, completeness, timeliness, or correctness of any such information. T3TG makes no guarantee or promise of any kind, express or implied, that anyone will profit from or avoid losses from using information disseminated through T3TG. All investments are subject to risk of loss, which you should consider in making any investment decisions. Viewers of T3TG programs should consult with their financial advisors, attorneys, accountants or other qualified professionals prior to making any investment decision. The risk of loss in trading equities, options, forex and/or futures can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. The high degree of leverage that is often obtainable in options trading may benefit you as well as conversely lead to large losses beyond your initial investment. Past results are not indicative of future results. No representation is being made that any account will or is likely to achieve profits similar to those shown. T3 Trading Group, LLC is a Registered SEC Broker-Dealer and Member of FINRA/SIPC. All trading conducted by contributors associated with T3TG on the Virtual Trading Floor is done through T3TG. For more information on T3 Trading Group, LLC please visit www.T3Trading.com.
Continue Reading -->Market Meltdown
Brought to You By Power Plays Spiking recession fears have the market melting down. SPX SPY QQQ SMH all lost the 8/21day weeks ago to get us tactical. Means low risk and only some options as risk is premium paid. Paper cuts happen with left over options. Gushers happen when you don’t use stops and have too much risk if you trade for a living when momentum leaves. On days like today I simplify it. Only trade a few ETFs and very quality liquid names. Now let’s dig into some individual names: AAPL News Mr. Buffet sold 50% of his stake has some concerned. It’s still one of his largest positions, I think investors stay the course. Traders went tactical with me weeks ago when it broke the 8day and prior to earnings. Now, I think it’s buyable into the $198-$202 area hopefully we see it. META is worth watching as it’s a quality key name that acted well on earnings but the market was too heavy. $442ish area is major support. I’m glad we took our options off in the nick of time Thursday for 100%+. NVDA led this market higher and also gave clues to take risk down. Last chance to sell was last Thursday around the $118 pivot area or when it broke the $116 zone. This morning the news that its Blackwell chip is delayed 3 months has it lower. The 200day is near $87.50, a good spot to watch as a trader and investor to buy back. TSLA had a big gap and go to the downside like most things. I’ve been out of the way. The $188-$191 area was the old break out level that is worth a look this morning. Maybe it holds it at first kiss. 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: Know Your Time Frame If you’re a short-term trader, you have to know your levels, what sectors are doing, and what’s on the calendar each day. But if you’re a long-term investor in a 401(k) or 529 plan, just keep those funds pumping in every month. So for each type of account or portfolio you have — short-term, long-term, aggressive, conservative, etc. — let your time frame guide your pace of activity. Be active and tactical with your short-term money, and slow and steady for long-term wealth building. In my short-term trading account, I can be in and out of positions in minutes, but I never touch my retirement and college savings accounts. This Week’s Calendar All eyes are on the market as recession fears spike. It’s also another busy week of earnings, check it out: Positions Disclosure as of 2024-08-05 at 8.35.24 AM
Continue Reading -->AMZN Is David Prince’s Favorite MAG7 Earnings Setup
Amazon (AMZN) reports second-quarter earnings after the market close on Thursday. Watch the video below to learn why this is David Prince’s favorite MAG7 earnings setup: Expectations for Amazon’s report are as follows: Earnings: $1.02 per share, up 63% year over year Revenue: $148.6 billion, up 10% YoY Advertising Revenue: $13 billion, up 22% YoY AWS Revenue: $25.86 billion, up 17% YoY Although David sees opportunity in Amazon with low valuation and increasing cashflow, he says Bezos’ selling puts pressure on the stock. Click here to apply for the Inner Circle to see how David trades the print!
Continue Reading -->Why IWM Looks Amazing
In this week’s Strategic Swing Trader video, Sami explains why the SPY may be challenged — and why IWM looks great: Sami goes over: What it takes for SPY & QQQ to turn bullish What makes IWM so special now The importance of Thursday and Friday’s highs Why Sami’s bearish list is so tiny The strength in real estate stocks like AIV and BXP Why MMM, BA, BABA, and many other names look bullish 4 names Sami doesn’t like, including F And more!
Continue Reading -->The 4 Horsemen of Earnings This Week – The Levels You Need to Know
Brought to You By Power Plays SPX futures +18 as we kick off a very busy week. We have earnings from MSFT, META, AMZN, and AAPL, among many others hitting. The FOMC is Wednesday, and the jobs report is Friday. SPX hit a low of 5390 last week. We’ll see if the market bounces this week. Pivot resistance is 5490, then the gap starts at 5508 and fills up to 5520. Now let’s dig into some individual names, including the 4 earnings giants I just mentioned: MSFT broke its ascending channel first. It lost the 8-day around $457 to get most active longs out. It hit a low of $417 last week. Is the bar low enough into earnings on Tuesday? It has room up to $442. See how it handles the $429-$432 area. META reports Wednesday. It went from $542 to $442 last week. We’ll see what type of bounce happens. There’s a gap to fill up to $487 with gap pivot resistance at $476. There is a huge channel. Last quarter they said they would spend a lot. Maybe they don’t say that this time. This one is interesting for an options play. Did AMZN frustrate enough traders to finally work into earnings? I did buy some $202.50 calls and might add a lower strike. Earnings are on Thursday. We’ll see if it tries to bounce first. It needs to get and stay above $183.19 for that. AAPL went from $237 down to a low of $214ish. There is news that the AI phone won’t come until October. Strength has been sold for the past two weeks. Earnings are on Thursday. I think this will be awesome next year. I’m just not sure it’s worth a play into this print. We’ll see where it is on Wednesday-Thursday. $220/$221 is resistance. GOOGL’s report wasn’t powerful and the stock got hit down to a bottom tail low of $164 on Friday. Barron’s said it’s a buy this weekend. It has room to $173-$174 this week if the market holds up. It’s not that interesting. TSLA is trapped between two gaps after getting hit post-earnings. It’s up a bit this morning. Does early strength hold or fade again? $226 is gap pivot resistance. Recent support is $214ish. Not much 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. 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. This Week’s Calendar This is a pivotal week. On the economic side, we have the FOMC decision, ADP employment, and the nonfarm payrolls report on Friday. And of course, we have tons of big earnings reports – Microsoft (MSFT), AMD (AMD), Meta (META), Qualcomm (QCOM), Arm Holdings (ARM), Apple (AAPL), Amazon (AMZN), and plenty of others: Positions Disclosure as of 2024-07-29 at 7.45.47 AM
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