Appears poor guidance from MSFT killed the attempted melt up, futures went from green to red AH yesterday and never recovered. Europe selling off didn't help either. At this point I think we hit oversold on RSI or MFI or both.
PCE numbers Friday, Fed and ECB meetings next week.
Sold all my PCAR stock on the gap fill, probably done for the week. Made decent money on what I thought was a FOMO trade, and it exceeded my target all in one day yesterday, lol.
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I mean imagine the market actually caring about earnings, lol.
TSLA after hours today, INTC tomorrow afternoon
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Indicators are neutral right now, direction probably depends on TSLA guidance tonight
I'm hoping down, oversold, and play the bounce for CPE numbers Friday premarket.
Could go either way so staying out. If you're bearish or bullish on TSLA, you might as well play it directly with options because the premium is less than 5%
All cash.
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MFI is dropping during this rebound, not feeling that bullish for TSLA earnings.
We'll see if it goes oversold tomorrow premarket, then I might take a small long bet for PCE numbers Friday. All or nothing one day bet with weekly calls I think.
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Unemployment and GDP numbers tomorrow. The way it's looking, I think they pump bad numbers again. Could be a gap up tomorrow.
This market is all a guessing game on news, lol. Either way I think MFI hits oversold and we ge a pump Friday
Thank you for sharing your analysis with our community. We're sharing our's as well:
Gwoog
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Why do you trade PCAR? Whats so special about it?
hungry_hippo
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@Gwoog, it always fills downward gaps. I'm an auto guy, notice I trade GM a lot as well, and sometimes F, CMI, DE.
The thing about PCAR is it always fills downward gaps, so it's a safer play and I'm very familiar with how the stock behaves. It filled the gap this morning despite the market gapping down 1%
hungry_hippo
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@Gwoog, BTW, AAPL and SQ were my favorite stocks a couple of years ago when I expected the market to move up. The way to make money is to find stocks that move more than the indices, especially on up days. I rarely do index funds or options, except for foreign markets.
Gwoog
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@hungry_hippo, Hello,I am only trading the MNQ futures at the moment. Can you do a 1H chart on that to get your perspective? Thanks.
hungry_hippo
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@Gwoog, MNQ is gonna move the same exact direction as NQ. 1 hr charts don't work for futures, just look at the 3 hr charts that I post. I expect an up day tomorrow if unemployment numbers go up. Seems the market is "news" driven lately