This earnings season has been a volatile one so far. We've seen multiple mega-cap stocks jump more than 10% in after-hours trading following their earnings announcements.
The good news is that most of the volatility this week has been bullish. Sure... Meta Platforms Inc. (META) cratered after its announcement, but Alphabet Inc. (GOOGL), Microsoft Corp. (MSFT), and Tesla Inc. (TSLA) all jumped higher.
The overall performance of the Magnificent Seven stocks that have already announced their earnings should stabilize the S&P 500.
This is good news for Wall Street because the economic data this week hasn't been as bullish. The Advance GDP number showed the U.S. economy only grew by 1.6% during the first quarter, and inflation is still stubbornly high with a GDP Price Index of 3.1%.
This data makes it increasingly likely that the Fed will only cut interest rates once during 2024, if at all.
In the video below, we walk you through the bullish case for the stock market and why we are so confident moving forward in the Predictive Alpha Prime portfolio. (15:52 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.
John Jagerson & Wade Hansen Analysts, Predictive Alpha Prime
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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