How to Trade After the Black Friday Drop
Even on a half day, Black Friday brought a trend break to the market with news of the Omicron variant. Should you plan for the trend to turn back up or will it continue down? Find out what Sami’s thoughts are for market movement this week. In this video, Sami explains: – What he’d be extremely surprised to see in QQQ – The one name he’s looking to play long this week – When KRNT might trigger long – The reward-to-risk ratio for PSTH – Where he would add to a short position in AFIB
Continue Reading -->Omicrom Scares Traders
The emergence of the Omicrom COVID-19 variant is weighing on traders’ moods this week. Let’s jump in and see what’s going on. Traders Back Away from Stocks The S&P 500 fell 2.3% Friday as the Omicrom news weighed on markets. That drove bullishness to 60% from 79% the week before. However, futures are up Monday morning. Some observers believe the Omicrom variant will be less severe than the Delta variant. And Moderna (MRNA) may have a new vaccine in early 2022. Now we’ll see if the bounce lasts. Bitcoin Gets the Ugly Stick Bitcoin is well off the November 9 high at $68,958, and has been downtrending since then. As you can see on the chart, Bitcoin has been hovering in the $53,000 to $59,000 range: And as you might expect, the downtrend has traders more wary of Bitcoin. Apple Still a Fan Favorite Apple (AAPL) shot as high as $165.70 last week, but the stock just dropped $10 in short order. Still, traders like the stock. Tesla Sentiment Rises Again Traders are still somewhat cautious towards Tesla (TSLA), with just 53% of traders identifying as bullish.So traders are still deadlocked on this controversial name. Gold All Over the Place Gold sentiment seems to bounce around based on whatever just happened. Gold got hit late last week, so sentiment is down. Traders Still Against Oil Crude oil prices are well off the October highs, so it’s no surprise that sentiment took a big dive.Save HUGE With Cyber Monday Deals!Want to save big money on our Cyber Monday specials? Click here to save HUGE on Scott Redler’s 2022 Market Outlook. Click here to save 65% on monthly subscriptions.
Continue Reading -->Trading a Top-Heavy Market
There’s a divergence in the indices, making the market top-heavy. Sami says you can expect a rotation, but right now his view of the market is dependent on what exactly you’re looking at. In this video, Sami explains: – Why AMRS is not a typical play – The type of breakout in ARWR – What he’s watching before he plays FCX – How to find a bottom in a stock like PCG – His long term play idea for this week
Continue Reading -->iLove: Why Traders Are Chasing Apple Now
What’s the big takeaway in this week’s sentiment survey. Traders LOVE stocks… especially Apple (AAPL). Traders Still Love Stocks 79% of surveyed traders are bullish on stocks for the next 30 days, which is no surprise given how the market came off the lows last week. Futures are off the morning highs, so we’ll see if the optimism is misplaced. Traders Still Like Bitcoin Bitcoin is well off the November 9 high at $68,958, but traders are still generally bullish on Bitcoin,,with bullishness over 70% for 4 straight weeks. Apple Still a Fan Favorite Apple (AAPL) has been steadily firing higher since its earnings report, and will open at new record highs above $160 on Monday morning.Traders believe Apple is headed for a strong holiday season as it seems like the company will only be held back by its ability to fulfill orders. Tesla Sentiment Rises Again Bullish Tesla (TSLA) sentiment increased for the second straight week following that mega drop down to 35%.Still, it appears traders are basically deadlocked on this controversial name. Gold Falling Out of Favor Last week, traders liked gold more than Tesla, but that situation flip flopped, likely because of gold’s big dip on Friday, which you can see on the chart: Traders Turn On Oil Crude oil prices have slipped from the highs, so it’s no surprise that bullishness on oil has slipped. And as you can see, energy stocks have taken quite a beating as of late after a nice run off the summer lows: Energy is still the #1 sector of 2021… but who knows how long that will last?Make Your Voice HeardWant to make your voice heard in our weekly surveys? Click here to join our panel. We’ll also email you survey results early on Monday mornings. We’ll soon introduce a historical database so you can do your own analysis! Thanks for reading!
Continue Reading -->Options In Play – The Quick Consolidation
If you focus on momentum names, then the quick consolidation is something you are probably familiar with. It is the fast pause in the aggressive trend that allows you to reload.
Continue Reading -->Options In Play – RIVN Options Are Live
The short wait is over. Options debuted on RIVN today and now there is another high-profile EV player to add to the watchlist.
Continue Reading -->The Pattern Most Stocks Have
We got the drop that Sami was predicting last week, and now the market’s gone back up. Find out how to trade the current buy setup and why Sami says this week is an easy call. In this video, Sami explains: – Why he only included stocks over a million shares on his watchlist – Where the entry is triggered on a 1-2-3 setup – How the IWM affected many of the stocks on his watchlist – Why he prefers GEO over EAF – One of the biggest mistakes he’s made recently
Continue Reading -->Scott Redler’s Dog Bytes: Watching the BIG ETFs
SPX futures are +15, giving some upside-through to Friday when we cleared 4664. I want to trim into some strength so I can buy dips and keep managing the Portfolio Approach that has been great since 10/13.Now let’s dig into some of the big ETF’s I’m watching: QQQ woke up again Friday as it cleared the $392 area with lots of specific action. The QQQ’s will open above Friday’s high of $395.25. I’d trim some longs so I can buy dips and net money. The big IWM channel resolved higher. It cleared $230 to see a high of $244. And last week it held in nicely, giving us $236 to trade against. Dips are buyable as long as that holds. Today, see if it clears and holds $240. My call spread still looks good. Banks are trying to rebuild with a pretty big bull flag pattern. As long as XLF holds the $39.80 area, some might be long. Others are waiting for a strong close above $40.20. Cannabis has been great since the Friday Igniting bar. MSOS gave a way to add on the pullback into the $29 area and it’s at $33+ this morning. I will likely trim some MSOS and the calls CGC, TLRY, and VFF calls which I picked up weeks ago.Positions Disclosure as of 11/15/2021 at 8:11 a.m. ET
Continue Reading -->Tesla: Traders Are DEADLOCKED!
Last week, traders were squared up against Tesla (TSLA).This week, we’re deadlocked.Normally, we begin the weekly T3 Sentiment Report with the SPX, but our Tesla data has been so interesting that we’re leading with it again. Tesla Sentiment COLLAPSES! Sentiment on Tesla improved quite a bit week-over-week. So instead of outright bearish, traders are now split 50-50 over Tesla.The stock is down about $200 off the highs and was down last week, so it’s interesting that bullish sentiment improved from that 35% number. Meanwhile, now CEO Elon Musk is trolling Bernie Sanders on Twitter, which seems to be exciting the peanut gallery. The big question now is “will dip buyers jump in Tesla now?” We’ll see. Trader Grow More Optimistic on Stocks The market was up Thursday and Friday, and SPX futures are up fractionally on Monday morning. So it’s no surprise SPX bullishness pushed up to 77%. Traders Still Like Bitcoin Bitcoin bullishness has improved quite a bit since the October 21 Flash Crash on Binance.us. And we’re not surprised – Bitcoin has been in a nice uptrend, and has been up for 3 straight days, as you can see on the chart: Traders Still Like Apple Apple’s (AAPL) last earnings report was less than stellar, but traders don’t care. Apple bullishness has been rising, based on the perception that the company’s biggest problem is its inability to get enough supply. Apple literally has too many customers and not enough stuff to sell ’em. Gold Feels the Love For the second week in a row, traders like gold more than Tesla, according to our survey data. While gold and other precious metals have been lousy performers year-to-date, they have been surging as of late, as you can see in this chart of GLD: Why the surge? Inflation just hit a 30-year high at 6.2%, and many investors and traders view gold as a hedge against inflation. Oil Bulls Back Off Crude oil prices have slipped off the highs, so it’s no surprise that oil sentiment has more or less flattened out in recent weeks. Oil is falling Monday morning, so we’ll see if that weighs on energy sector sentiment.Make Your Voice HeardWant to make your voice heard in our weekly surveys? Click here to join our panel. We’ll also email you survey results early on Monday mornings. Within the next few weeks, we’ll introduce a historical database so you can do your own analysis! Thanks for reading!
Continue Reading -->Options In Play – The GOLD Rush
A hot CPI number this week was a big positive for GLD, but whether or not there is more room to run depends on the next couple of weeks.
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