| | The Tech Sector May Have Lost Its Mojo
By Don Kaufman
Tech stocks (especially a certain $3.1 trillion chip company) have been leading the market to all-time high after all-time high for weeks now. | But, as I sit here at the cash close today, I'm watching S&P 500 futures get absolutely rocked with volatility… and <boom> all the action stops and the S&P 500 is massively unchanged. | So I've got to say tech is probably played out right now. That volatility I was watching a minute ago was NVDA. But the bid under it just isn't enough to move the markets like it did just a few weeks ago. | I've got a chart that shows perfectly what's going on and what the next move is… | | TheoTrade Daily Chatroom Schedule for Thursday June 26, 2024
9:20 AM to 10:00 AM: I'll be getting us ready for the opening bell
10:00 AM to 11:00 AM: Blake Young will share his charts with you
11:00 AM to 12:00 PM: Professor Bierman makes you a better trader
12:00 PM to 1:00 PM: Brandon Chapman takes on Triple Threat Thursday
1:00 PM to 2:00 PM: Gianni Di Poce looks at the entire market
2:00 PM to 3:00 PM: Tony Rago finds targets in NQ charts
3:00 PM to 4:00 PM: Corey Rosenbloom scouts trend and range plays
Make Sure You Get My Updated 92-Stock Watchlist
I'm diving in headfirst - I'm in the frothiest, craziest market in years going bullish on AAPL, NVDA, MSFT, and a lot more. Some of the most expensive, nosebleed-high stocks are putting cash in my pocket every week. | I'm not buying them - that'd really be crazy - but I'm trading them, risking a fraction of what I could be. You can get the entire list of stocks I'm using right now and see how this is done right here.
Brandon Chapman's Getting Radioactive Here
He handed out a Cameco trade in the chat today. If you don't know, this is probably the biggest uranium company in the world, and one of the top three producers. | No one's touching anything risky though - this is a nice spread trade: "Buy (+1) vertical CCJ 100 (weeklys) Aug 2 2024 $52/$54 call at a limit of $0.70." Give it a shot.
We'll talk again soon, | | Don Kaufman
Co-Founder, TheoTrade |
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