Can IWM Hit $300? David Prince Answers
Tom Lee says IWM is headed for a 40% gain! He’s set a $300 target on the fund. Inner Circle’s David Prince is looking for $240 in the near-term: He’s been all over the recent small-cap strength and caught this week’s IWM bounce perfectly: David remains bullish and says he is a buyer on pullbacks. *chart as of 3:37pm ET July 23, 2024 He says expectations for a rate cut remain good for IWM and small caps. The Fed’s favorite inflation gauge – the PCE price index – is coming up on Friday. And David believes a soft number could fuel the next leg of this rally. Click here to apply for the Inner Circle to trade alongside him!
Continue Reading -->How Derrick Oldensmith Makes A Trading Game Plan
Professional trader Derrick Oldensmith comes into every trading day with a game plan. Watch the video below to learn what his daily research process looks like. Derrick is hosting a free week in his trading room. Click here to work with him and his team of other professional traders! Derrick’s positions as of 9:42am ET July 23, 2024 Derrick Oldensmith is an associated member of T3 Trading Group, LLC (“T3TG’), a SEC Registered Broker-Dealer & Member of FINRA/SIPC. All trades 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. No one should consider the information disseminated by T3TG to be personalized investment advice, a recommendation to buy, sell or hold any investment, an offer (or a solicitation of an offer) to buy or sell any investment, or the provision of any other kind of investment advice. No one associated with T3TG is authorized to make any representation to the contrary. T3TG provides information that viewers of its programs may consider in making their own investment decisions. However, any viewer will be responsible for considering such information carefully and evaluating how it might relate to that viewer’s own decision to buy, sell or hold any investment. Such decisions must be based on that viewer’s individual and independent evaluation of his or her financial circumstances, investment objectives, risk tolerance, liquidity needs, family commitments and other factors, not in reliance on any information obtained from T3TG. 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 -->IWM Case Study: How the Red Dog Reversal Works, Long and Short
Brought to You By Power Plays The Red Dog Reversal (RDR) is a trading technique I use to catch countertrend moves in an oversold or overbought stock. It’s been one of my bread-and-butter strategies for years. And my community just had the chance to use it both long and short with IWM — within the span of a few days. As many traders know, IWM recently went on a tear when small caps look over leadership from large-cap tech. But IWM has been quite volatile, allowing us to play it from both sides. And today I’ll show you how you could have spotted a nice shorting/selling opportunity — followed by a long. First, we’ll go over the Red Dog Reversal Sell Rules . Here are the 4 steps to a Red Dog Reversal Sell: Stock is up for multiple days Stock goes above prior day’s high Stock trades back below through prior day’s high, which is where the sell/short triggers The stop is set at the current intraday high Here’s how it played out with IWM: IWM rose for 5 days in a row into 7/16 On 7/16, hit a high of $224.86 On 7/17, IWM went above $224.86 and then below for a sell/short at that level Stop is set at the new 7/17 high of $226.84 Since the short entry is $224.86 with a $226.84 stop, we are looking at risk of $1.78 per share. And on Monday July 22, IWM hit a low of $215.38. (more on this important level below) I was happy about the decline 0ff the highs because I was short the IWM ETF plus IWM calls. Those positions were getting hairy when IWM was ripping, but it resulted in a nice profit. And on Friday, July 19 — I flipped it around. I went home long IWM calls and short IWM puts (shorting puts benefits from rising prices) — just in time for Monday’s rebound. Incidentally, that $215.38 level mentioned above was a Red Dog Reversal buy. Here are the Rules for a Red Dog Reversal Buy: Stock is down for multiple days Stock goes below prior day’s low Stock trades back up through prior day’s low, which triggers the entry The stop is set at the current intraday low Here is how it played out on the chart: IWM fell 3 days in a row through 7/19 On 7/19, IWM hit a low of $215.85 On 7/19, IWM broke below $215.85 and reclaimed it to trigger long Stop is set at the new 7/22 low of $215.38 With a long entry at $215.85 and a stop at $215.38, the trade would have risk of 47 cents per share. IWM soon hit $220+, which was an impressive move for trade with 47 cents of risk. While not every Red Dog Reversal trade works out, it’s certainly exciting when they do. And in this case, it showed how effective it can be both long and short when you are opportunistic. Positions Disclosure as of 2024-07-22 at 3.25.55 PM
Continue Reading -->IWM Looks Beautiful – and Buyable at THIS Level
Sami goes over: Why it’s hard to tell which index to focus on right now Why QQQ looks more bearish than SPY Sami’s 2 scenarios for this week The level Sami expects SPY and QQQ to hit Why IWM looks beautiful, and where it is buyable The problem with 90% of stocks right now Why Sami is focused on FIVE, OKTA, and PAYS on the long side Why Sami is bearish on SHOP and SNAP And more!
Continue Reading -->ARM is the semi to watch today
Brought to You By Power Plays SPX futures are +30 after a correction from 5669 down to 5497 last week. If the bears want to keep active control, they probably need to reject price this week into the 5560-5585 area. Not all sectors are created equal as the money rotates every few weeks. Now let’s dig into some individual names: ARM is a stronger semi so see how it reacts today. We’ll see if it gets and stays above $166 to see $171ish. AMZN stopped out most remaining active longs when it failed to hold the $197.60 area. Record Prime results were sold and it hit a low of $180.11 before reclaiming $181.45 on Friday. I’d think $186-$188 gets rejected if this tries to bounce pre-earnings. PLTR acted well when most names didn’t. It hit a high of $29.83. I’m still long some, and it needs to hold $27.80. GOOGL reports tomorrow after the close. It looks similar to NFLX as it pulled in off the highs but it’s not worth an options play yet. GOOGL’s recent high is $191ish. The reaction will be important for how we approach these types of names. TSLA also reports tomorrow. It hit a high of $271 and a low of $233 in the last few sessions after a nice move from $191-$198. It’s hard to tell what’s next as it wedges. $245 is active support, then $233. If this pushes, $258 is active resistance. It’s flattish 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) Recent ideas include Rivian (RIVN) and XBI. You can be on the list for the next one: 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 Earnings season continues to heat up this week with GOOGL, TSLA, V, IBM, KLAC, and more! Plus we have the important PCE Price Index on Friday. Positions Disclosure as of 2024-07-22 at 8.31.20 AM
Continue Reading -->Tesla to $400? And 4 More Bold Predictions from Sami Abusaad
This may have been our best show with Sami ever! Because he makes 5 very bold stock predictions, including why Tesla (TSLA) can hit the $380 to $400 range. Watch the clip below to hear Sami’s take on Tesla: Sami also goes over: Why he’s been buying Robinhood (HOOD) over and over again Why he loves the Real Estate stocks like Zillow (Z) and Redfin (RDFN) Why Abercrombie & Fitch (ANF) is falling apart His dramatic price targets on TSLA, HOOD, Z, RDFN The 2 boring telecom stocks that have gorgeous charts The power of unsexy but effective trading! And more!
Continue Reading -->5 Trading Tips You Need to Know
Brought to You By Power Plays – Get Scott’s #1 Pick Every Week. In this classic webinar from the stone age (we mean 2019!), Scott Redler shares 5 of his most important trading tips. Remember, the tickers and headlines change, but the principles of success remain the same. So dig in and learn from these classic case studies, including Brexit, the 2016 US Presidential election, the so-called Death of Facebook, and more! You’ll find out: What pro traders do different What Bruce Lee can teach you about trading How listening to exciting headlines is hurting you Why trying to make a big market call is a mistake The reason it’s time to treat trading like a business instead of an expensive hobby Why patience and discipline actually don’t exist, and what to focus on instead What’s kept Scott in the business after 20+ years P.S. Don’t forget to check out Power Plays – Get Scott’s #1 Pick Every Week. Scott Redler Positions Disclosure as of 2024-07-17 at 1.24.06 PM
Continue Reading -->Derrick Oldensmith’s Strategy For Earnings Season
Professional trader Derrick Oldensmith is focused on one thing heading into an earnings report – where the stock is currently trading. How a stock moves after reporting earnings isn’t just about whether it beats or misses expectations. Watch the video below to learn what you should be looking at ahead of each report: Derrick is a professional prop trader with T3 Trading Group. Click here to get his free ebook to learn more about the benefits of prop trading vs retail! Derrick’s positions as of 10:14am ET July 17, 2024 Derrick Oldensmith is an associated member of T3 Trading Group, LLC (“T3TG’), a SEC Registered Broker-Dealer & Member of FINRA/SIPC. All trades 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. No one should consider the information disseminated by T3TG to be personalized investment advice, a recommendation to buy, sell or hold any investment, an offer (or a solicitation of an offer) to buy or sell any investment, or the provision of any other kind of investment advice. No one associated with T3TG is authorized to make any representation to the contrary. T3TG provides information that viewers of its programs may consider in making their own investment decisions. However, any viewer will be responsible for considering such information carefully and evaluating how it might relate to that viewer’s own decision to buy, sell or hold any investment. Such decisions must be based on that viewer’s individual and independent evaluation of his or her financial circumstances, investment objectives, risk tolerance, liquidity needs, family commitments and other factors, not in reliance on any information obtained from T3TG. 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 -->How David Prince Is Preparing For NFLX Earnings
Netflix (NFLX) reports earnings on Thursday. Are you ready? David Prince says this report is different than the past. The company is trying to push analysts away from focusing on subscriber growth. So what’s the stock’s story now? Watch the video below to find out: He says the chart isn’t exciting him long or short, take a look for yourself: *chart as of 3:27pm ET July 16, 2024 David expects subscriber numbers to be subpar. How will the street react? This stock has a history of big post-earnings moves. Over the last four quarters, NFLX has moved 11% on average the day after reporting. As of now, the stock is pricing in a $52 move post-earnings, or about 8.4%. Click here to apply for the Inner Circle to see how David approaches this stock in real time after the print!
Continue Reading -->Is THIS the New Nvidia?
Brought to You By Power Plays SPX futures are +20. Last week’s high is 5655. We’ll see if today’s gains build. Odds of a 9/18 rate cut are 95%, and the market is pricing in 64BP worth of reductions for 2024. Dovish developments are driving the tape with small caps, bios, and beaten down sectors moving. We’ll measure how this develops as we approach the tape this summer. Now let’s dig into some individual names: AVGO is post-split this morning. $185 calls may work. Because if AVGO follows in NVDA’s footsteps, there could be a big move here. But know your risk. SMCI needed another week to move. I mentioned it was a candidate to be added to the NASDAQ 100. We’ll see if early gains hold and build. Holding $930-$934 keeps it ready to attack $972, then $1014, and eventually higher. LLY gave many ways for active traders to buy swing longs. If you’re an investor, maybe it changed your life. It’s above the $950 high to manage. The 8/21 day has been buyable since it broke out over $800. I think a split is coming. RDDT is choppy. But a strong move above $76-$77 should get this to $90ish in time. AMD gave a great move from $166ish to $187+. Now we see if it holds $177ish to give another bull flag move above. 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) Recent ideas include Rivian (RIVN) and XBI. You can be on the list for the next one: See why now’s the right time to join. Your Tip for This Week: When Things Go Wrong, Get Small Trading is a lot like poker. You can prepare and study for years to get an edge over the house. But sometimes, you just get dealt a bad hand, and there’s nothing you can do abou it. We all find ourselves on losing streaks from time to time. What matters is how we pick ourselves up. If you’re in a rut, trade smaller and focus on just getting profitable again. This way, you can rebuild your confidence without digging an even bigger hole. One thing you must never do is up your bets after you’re down. That’s how you go from 5% down to 20% down to 50% down. This Week’s Calendar Earnings season heats up as more banks report. Plus we have Netflix (NFLX) and Taiwan Semi (TSM) on Thursday, which could move tech. And plenty of Fed officials speak this week. Positions Disclosure as of 2024-07-15 at 7.56.04 AM
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