Why I Like the Controversial Super Micro (SMCI)
Sami explains why the market is bullish – but sloppy. Sami goes over: Why we could see a short-term pullback within the bullish long-term trend Why he still believes the stock market has bottomed Why most swing ideas are not yet ready to go The reason he likes the controversial Super Micro (SMCI) from here His opinion on Micron (MU) His favorite gold names And more!
Continue Reading -->Amazon Can Break THIS Again
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. SPX hit a high of 5733 after the Fed cut rates 50bp. We’ll see how the market digits into what some say will be the toughest two weeks through year-end. We’ll see if 5651-5674 holds, or if volatility picks up. We had a few nice opportunities in tech last week. Now we see if the QQQ’s can hold $478 to keep commitment to the recent rally. Now let’s dig into some individual names: AMZN became another nice swing long since reclaiming all the moving averages around $178-$179. It hit a high of $191.84 Friday. I’d think it can break back over the $200 area again. However, I only want to buy it on dips because chasing it doesn’t work. META finally cleared the 8-month channel and paid traders in many ways. I did have calls on it as it hit $564, and our Power Plays service is still in half. This morning it’s higher. I’d trim and look to buy dips. NVDA had a big sell imbalance last week, so it was on the weaker side. We’ll see if that changes now. $115.39 is Friday’s low to trade against. I’d like to see this wake up. $113 is a big spot. Below that, it can be a headwind. Above $118.65 and it might get more upside volume. DASH has been a great focus and the $128 area. It’s had multiple upgrades and looks like it’s going much higher. RDDT is still building a huge base from the IPO. Last time it tried to break out, it failed. I did buy some last Monday. It cleared $62 to see $67+ to manage. $61ish needs to hold. It can also accelerate higher. 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: Treat Trading Like a Business Trading attracts people with competitive, individualistic mindsets. But it’s actually a team sport. I can promise you, I would not be where I am today without the support of my partners and colleagues. They made me better, and I hope I’ve made them better. So get out there and start talking with your fellow traders, whether it’s online or off. When a group regularly shares ideas and techniques, everyone gets better. This Week’s Calendar Today will be quiet, but this week is big with the PCE Price Index, GDP, Durable Goods, and other economic reports. Plus, Micron (MU) and Costco (COST) earnings will be in focus. P.S. Don’t forget to check out Scott Redler’s Power Plays! Scott’s Positions Disclosure as of 2024-09-23 at 7.46.32 AM
Continue Reading -->Tesla Is Going to $400. And Bitcoin Is Going to $100,000.
Sami Abusaad has been a long-time bull on Tesla (TSLA). And today he said the stock is going to $400: This makes Sami far more bullish on Tesla than Wall Street analysts, who have an average target price of $209. Sami also explains: What Sami sees on Tesla’s monthly chart Why Bitcoin is headed to $100,000 Why he actually likes Ethereum more than Bitcoin right now Why he still believes the stock market has bottomed And more!
Continue Reading -->5 Names I’m Watching Post-FOMC
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. We have mostly green arrows around the world as stocks power higher. The Fed cut 50bp, and yesterday was a tug of war in the U.S. markets. Yesterday, I warned that the day after Fed Day is much more important. Today SPX futures are +80 and we are looking at new all-time highs. QQQ looks above the mid-level downtrend pivot line of $477-$478. We’ll see if that holds and builds. XBI is flirting with the $103 area again. This time, it looks like the rally will stick and I see potential for a move to $110 to $115. Now let’s dig into some individual names: NVDA was super weak yesterday. We’ll see if that changes today. $118-$119 is a key spot. If it can get and stay above that, the semis can get better. Watch it for clues today. AMZN became another nice swing long since reclaiming all the moving averages around $178-$179. I managed the trade. I still have it. I’ll trim and hold as we see if it can hold $189ish to build or fade. DASH has been a great focus from the $128 area. It was upgraded this morning and looks over $137+ to manage. It could see $143+ in time. RDDT is still building a huge base from the IPO. The last time it tried to break out, it failed. It has a decent base now. I did buy some Monday and yesterday. I’ll trim and trail but this should be on the radar. CORZ has been great to us. I bought stock around $10.20 and now it’s at $12.60+ to manage. It can hit $18 to $20 in the months ahead. This moves with BTC but is much better than most miners. 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’s Positions Disclosure as of 2024-09-19 at 9.33.58 AM
Continue Reading -->Inner Circle’s Fed Day Game Plan
This week is arguably the most important Fed meeting of 2024. Will the FOMC cut by 25 or 50 basis points? What will the dot plot show for the future? And what will Chairman Jerome Powell say at 2:30? Watch the video below to hear what the Inner Circle team is focused on for tomorrow’s rate decision: They also discuss: Expectations for small caps and biotech as rate cuts begin Recent trades in IBM (IBM) , Meta Platforms (META), and Oracle (ORCL) What stocks they want to buy after the Fed announcement How they’re positioned ahead of the FOMC David Prince is opening up the Inner Circle for a free VIP event next week, go here to sign up now!
Continue Reading -->Yes, I’m Bullish
Sami Abusaad explains why he is still bullish Sami goes over: Why he is still bullish following the recent market bottom The tricky thing about 1-2-3- setups right now Why IWM will eventually pop – though it’s tricky to know when The gold name me likes right now The semiconductor stock that looks like it bottomed Friday 5 names he think can drop from here And MORE!
Continue Reading -->Why Apple Looks Worse Than Tesla Right Now
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. We have mixed/quiet markets as we head into the FOMC this week. The debate is whether we get a 25bp or 50bp cut. The reaction on Wednesday will be key. Will we get and stay above SPX 5651 for real and see 5750+, or do we get a major Red Dog Reversal sell-the-news move around that level? That’s the question. Tech showed relative strength last Wednesday for the first time since the July top. QQQ cleared all the moving averages to hit $476+ on Friday to adjust. AAPL is down 2% on slower iPhone orders. See if they isolate this to AAPL, or if it weigh son all of tech today. There is decent support at $467-$469. Let’s get into some individual names: AAPL is down 2% as headlines say iPhone 16 sales are lighter than expected. I have the 12 and it doesn’t seem like there’s any reason to upgrade. They need a foldable phone or some exciting new AI features. $217ish is a big spot. Does it make a low in the first 5-15-30 minutes or trend down all day? I’m glad it’s lagged to keep us out recently. TSLA seems like one of the better set-ups this week. I’m long from lower levels. It needs to hold $224. If it can get and stay above $235 with volume, it can be a nice momentum add to fill the gap up to $245. MSFT got better with tech. It cleared $410 and $416 to open the door for a move back to $431ish. Today there is a Co-Pilot event. Take a little care. $427 is upper support. DASH is getting more institutional interest and support. Actively, it cleared $126 to see $133+ last week. I’d like to see it hold $129ish to set up for a move toward $143. ASTS: It’s nice when a plan comes together. I sold puts last Monday as a synthetic long, and bought the stock Thursday. Then it crossed $27.05 and $28.40 to see $30.93 to adjust. We’ll see if we can add to go red to green today to manage the trade. 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: Treat Trading Like a Business The average person on the street thinks trading is like hitting the craps table at the Bellagio. But trading is a business just like any other. You have to balance your books every month, make it through slowdowns, and most of all, not put yourself at risk of bankruptcy. Sometimes I talk to people about my career and they think I have gigantic swings every day. NOTHING could be further from the truth. My trading account is a business I run to pay my bills. It’s not a hobby! This Week’s Calendar It’s all about the Fed this week with the rate decision on Wednesday: P.S. Don’t forget to check out Scott Redler’s Power Plays! Scott’s Positions Disclosure as of 2024-09-16 at 8.30.04 AM
Continue Reading -->The Market Bottomed — and I Still Love Tesla
Sami Abusaad argues the market has bottomed, and explains why he is bullish on Tesla (TSLA) and Gold (GLD) here: Sami goes over: Why he is so long-term bullish on Tesla (TSLA), and why he’s bought it multiple times Why he loves driving his Tesla Model Y Performance How he picked Ferrari (RACE) for the Strategic Swing Trader newsletter The parallels between Tesla’s Full Self Driving mode and Microsoft’s (MSFT) Windows franchise The reason Gold (GLD) is leading and still looks great The confusing picture in Bitcoin — which looks short-term bullish and long-term bearish His focus on “boring” stocks like AT&T (T) and eBay (EBAY)
Continue Reading -->This CPI Is Different
The August CPI will be released at 8:30 a.m. ET on Wednesday. And although inflation has been a major focus for the market all year, David Prince says this week is different. Watch the video below to hear why: David also covers: How the market may react to the Trump/Harris debate How he’s shifted his strategy in a more bearish environment Recent wins in JPM, GOOGL, and QQQ And more! Get David’s highest conviction ideas in the Epic Trades newsletter!
Continue Reading -->Why This Market Is So Hard
Sami Abusaad explains why it’s so hard to determine the trend right now: Sami also goes over: A potential long scenario in QQQ this morning Why it’s hard to put together a game plan today Why Sami like CAVA, DOCS, and EBAY Why he’s bearish on ARRY, CHPT, RXRS, and others And MORE!
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