Broad market has spent all week consolidating after last week’s explosive rally. The near-term action largely points to another leg coming next week.
Market Consolidation on its fourth day as volatility drops to its 5-month low Read Post »
CPI in-line with expectations. Market consolidation looks bullish across the board. The trading action at the moment favors a breakout in the SPY, QQQ and Nvidia.
As we mentioned over the weekend, the NASDAQ-100 and Nvidia were both extremely oversold and due to pause ahead of another leg up. We’re now in day 2 of that pause. Nvidia seeing some upside thanks in part to Citi upgraded price-target.
After last week’s explosive rally, the NASDAQ-100 and the mega-caps experience a pullback off of extremely overbought conditions as we indicated on Friday. But there are some surprises to start the sessions.
Things are looking great from a forecasting and profit point of view. With the QQQ deeply overbought on the hourly RSI, we should see considerable upside ahead. Nvidia should break above our $150 price-target by next week.
Outlining some basic covered call writing and put buy we plan to executing as a hedging strategy for the Samwise Portfolios.
Trade Watch: we’ll soon be selling Covered calls across all four samwise Portfolios Read Post »
The market continues to surge higher on the back of election euphoria as both Nvidia and the QQQ continue to make fresh all time highs.
With President Trump winning a decisive victory, the uncertainty of a potentially contested election is no longer at risk for the markets. Futures immediately surged and indices opened near their all-time highs.
Trade made in the Lannister Portfolio.
TRADE ALERT: Trade executed in lannister Portfolio Read Post »
NASDAQ-100 (QQQ) pushes up to the gap-line at $492.50. Nvidia (NVDA) in the process of retesting its highs. With correction risk sky high, we’re purchasing hedge for Lannister Portfolio TODAY!