Scott Redler on Fox Business: We Need an NVDA Blowout
On Tuesday, August 27, Scott Redler appeared on Fox Business’ “The Claman Countdown” to discuss the economy, Nvidia (NVDA), Apple (AAPL), and more: Scott goes over: Why he doesn’t expect a serious recession What it will take to make the Fed cut rates the way The Street expects Why Nvidia (NVDA) needs blowout earnings Key levels to watch in NVDA Why Scott put on an NVDA call spread to define his risk How Apple (AAPL) could get to all-time highs again Scott’s Positions Disclosures as of 2024-08-27 at 4.15.48 PM
Continue Reading -->David Prince’s NVDA Earnings Game Plan
Nvidia (NVDA) reports Q2 earnings after the market close on Wednesday. Here are the expectations: Revenue: $28.72 billion, +113% year over year EPS: $0.65, +141% year over year Watch the video below for David Prince’s focus heading into the print: David also covers: What stocks are ripe for a sympathy play off of Nvidia’s report What the Fed Chair’s dovish message at Jackson Hole means for the market His thoughts on MSOS Get David’s real-time analysis after Nvidia’s earnings release by applying for the Inner Circle now!
Continue Reading -->Nvidia Earnings Week – These Levels Matter Now
Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. SPX futures are +11 as the market is pricing in 34bp of rate cuts at the 9/18 meeting and 105bp of rate cuts for 2024, which could be aggressive. The 9/6 jobs report will be important, along with the July PCE on 8/30 and the August CPI on 9/11. We’ll see if early strength holds or fades. 5643 is pivot resistance – does it get and stay above? If so, 5669 is the July high. If we fade, 5560 is key support for the week. Now let’s dig into some individual names: NVDA helped lead the way after it gave us the 8/5 bottom trade. Then it cleared $106.50 to open the door for higher prices. Last Thursday, it failed to hold $130, giving us some clues that we can fade. It sold down all day with a low of $123.10. Friday’s action trapped some sellers. Results are Wednesday. See if it holds the $130-$130.75 area or fades again. We’ll see where it is on Wednesday for earnings option strategies. I said AMD can be better during this recent active bullish sequence. Some bought as it cleared the $138 area. It hit $162 last week. It needs to hold the $148 area. It might sit out until Wednesday’s NVDA results. SMCI seems to have a nice setup. Some are already long vs. $595. Others are waiting to see if it can get and stay above $632 then $640 to fill that gap up to $660ish at least. We might need NVDA’s results before it can resolve. GOOGL has been the worst Mag 7 name since the corrective phase. Some are trying to play this for some catch-up. $163 needs to hold. On August 8th, GLD cleared $222ish to get some active longs back in. It cleared $229 to see the $234 area. It’s starting the week green. $229 needs to hold. Those asset allocators buying every month for years are getting rewarded. 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: Focus on Execution First, Money Second If you get good at anything, the money’s going to come eventually. So focus on developing your skills and properly executing the strategies you learn. That’s what’s going to keep you in the game for the long run. Fast money leaves just as fast as it arrived. You want to develop a set of trading strategies that can give you consistent profits, no matter what’s happening in the market. Once your brain gets big, your wallet follows. This Week’s Calendar Things start off slow this week but heat up fast with earnings from NVDA, CRM, CRWD, CRM, DELL, MRVL, and others. Plus, we have the important PCE Price Index report and GDP. P.S. Don’t forget to check out Scott Redler’s Power Plays – Get My #1 Idea Every Week. Positions Disclosure as of 2024-08-26 at 8.41.57 AM
Continue Reading -->IWM Needs THIS to Follow Through
This week Sami explains why the market is bullish — though perhaps in need of a break into Nvidia’s (NVDA) earnings report Thursday. Sami also goes over: What IWM needs to do to follow-through on last week’s big breakout Why he likes names like AVTR, DNB, JD, and RNG Why he’s bearish on CELH, NTES, RAMP, and others
Continue Reading -->JR Says “Nvidia Can Hit $200, and GLD Can Hit $300”
In this week’s interview, JR Romero explains why he is still bullish on Nvidia (NVDA) and Gold (GLD). JR goes over: Why Nvidia (NVDA) can hit $200 The case for Gold (GLD) going to $300 The big problem with trading the gold miners Why AI will have seismic ramifications for the economy Why you can’t compare AI to the internet The right way to trade this tricky market environment
Continue Reading -->“Watch out for this level on the Nasdaq, “ says Christian Tharp, CMT
We’ve seen a V-shaped recovery since the August 5th scare and the market is hitting a key resistance point. In today’s video, Certified Market Technician, Christian Tharp, breaks down: An important level in the Nasdaq that could signal a “FAST” move to the upside If we see a pullback from a failure, the level the market will likely pull back to He answers the question: “Is the bull market still intact?” Plus, will the S&P 500 follow the Nasdaq or go it’s own way? Christian specializes in technical analysis and he’s made the biggest options trades of his life in 2024. Christian isn’t using fancy indicators like the MACD or Fibonacci, he’s looking at price action and candlesticks. Listen to Christian’s quick, 6-minute market outlook for the week here: More from Christian: Christian Tharp is one of only 3,500 Chartered Market Technicians (CMT) in the world. His bread and butter is using technical analysis to find fast… I mean lightning fast moves on options. Some of his trades in his services open on Thursday and close on Friday morning. Like recently: In June: Closed a 100% winner on CRM in 1 day Closed a 300% winner on MU in 1 day Closed a 500% winner on ALAB in 1 day In July: Banked a 500% winner on HD in 1 day Landed a 200% winner on TSLA in 1 day He uses his 1-day options strategy for these plays. Click here to get his free presentation on how to make these trades yourself.
Continue Reading -->Why We’re About to Pull Back… and Go Higher
In today’s video, Sami Abusaad explains why the market will pull back… and then go higher: He also shares: Why he likes Real Estate stocks like AGNC Why he is bullish on troubled online dating stock BMBL Other names that can rally 5 stocks he thinks can drop
Continue Reading -->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
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