We had some amazing trades today in the chatroom including a short on TSLA and a reversal on AMD. Please watch the recap that Brian and I posted here. TSLA has reported some very interesting earnings, and although they had record profits, the overall fear of supply chain issues has taken them down over 7% as I write these words.
Yesterday, Federal Reserve Chair Jerome Powell announced his support for an interest rate hike in March and he made it clear that the Fed would act as needed to control the hottest inflation in 40 years. Wall Street is now pricing in five rate hikes for this year. In addition, as the Treasury market moved to price in more aggressive tightening, stock traders reacted to the message that the Fed may be less concerned with the financial markets and more concerned about inflation.
I have just finished up my Thursday morning mentorship session. We had a good discussion on Time and Sales and Level 2 readings for breakouts. This afternoon and evening, Ed and Thor are hosting their mentorship sessions at 4:30pm and 8pm ET, respectively.
Apple is reporting their earnings after the market closes today. I am looking forward to hearing what they have to say.
If you are a new trader, I encourage you to use our free Market Replay tool to practice your trading in these volatile times. You will find it at stocktradingsimulator.com
See you in chat!
To your success,