Hey,
Happy Friday, Evolvers!
Today, I'll answer a question about my recent Tesla Inc. (NASDAQ: TSLA) calls play and go over how I chose the strike price and expiration date for this trade.
But first, let's talk about the status of the overall market, which continues to surprise to the upside…
As I mentioned earlier in the week, a fantastic earnings report from Microsoft Corp. (NASDAQ: MSFT) — the second-most valuable company in the world — sent the major indexes soaring on Wednesday.
Then, the strength continued into Thursday, with the SPDR S&P 500 ETF Trust (NYSEARCA: SPY) up 1.97% at the time of writing.
NOTE: MSFT makes up more than 6% of the entire SPY index, which is why a single earnings report from the company can boost the entire stock market.
I know I've been warning you about the end of the bear market rally. But it looks like that's been delayed by strong corporate earnings and insatiably bullish market sentiment.
The timing of my prediction was slightly off, but I care far more about making money than I do about being right. This mindset allows me to quickly adapt my game plan to whatever the market throws at me.
That's why, recently, I've been stressing the importance of flexibility. You can't be a perma-bull or perma-bear … you must be willing to flip your script and scalp in either direction on your charts.
But now, it's time for our Friday Q&A. Click below and I'll answer the question everyone was asking me yesterday…
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