Traders on Wall Street have been understandably nervous for the past few weeks.
Inflation hasn't been dropping as quickly this year, and everyone has been concerned the Fed may need to keep interest rates higher for much longer than previously anticipated.
This has led to increased volatility and bearish pressure in the stock market.
After this week, however, we expect the volatility to remain but the bearish pressure to ease.
First, Fed Chair Jerome Powell assured Wall Street that the Fed is much more likely to cut interest rates in 2024 than it is to raise them.
Second, mega-cap companies in the S&P 500, like Apple Inc. (AAPL), have been providing earnings numbers and guidance that have brought the bulls back into the market. Traders are showing once again that they are willing and eager to pump money back into stocks.
In the video below, we walk you through why we're optimistic the selloff is over and what that means for the Predictive Alpha portfolio. (16:06 min. watch)
Each week, we will update you on our open trades, organized by their initial "target price" date.
To be clear, these trades are straight stock buys; we will not pursue any options trades in this service.
Predictive Alpha's unique A.I. system allows it to predict, with astonishing accuracy, where a security will move over the next month (or, to be more specific, the next 21 trading days).
Because this A.I. is so sensitive and updates its predictions every single day, a predicted target price may change from one day to the next.
We watch those changes carefully and will alert you when we think an exit is optimal.
Target Price/Date: $152.10 by May 22, 2024 (we set a GTC limit order to close the stock at its target price on Apr. 24, 2024)
Exit price/Date: $152.10 on May 3, 2024
DHI shot higher with the rest of the market this morning after Apple Inc. (AAPL) beat expectations. We closed the trade right on target at $152.10. That's a 4.23% gain in just nine days!
John Jagerson & Wade Hansen Analysts, Predictive Alpha
P.S. For any questions or concerns, check out your brand-new Frequently Asked Questions page, which you can access here. Otherwise, reach out to or contact your Customer Concierge Team at 866-385-2076 or JohnandWade@tradesmith.com Monday through Friday, 9:00 a.m. to 5:00 p.m. ET. Our dedicated team will be glad to assist you.
TradeSmith is not registered as an investment adviser and operates under the publishers' exemption of the Investment Advisers Act of 1940. The investments and strategies discussed in TradeSmith's content do not constitute personalized investment advice. Any trading or investment decisions you take are in reliance on your own analysis and judgment and not in reliance on TradeSmith. There are risks inherent in investing and past investment performance is not indicative of future results.
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