What a Crazy Earnings Week!
The chaos around tech earnings surprised everyone. Brian was in the office yesterday and he said that in the last 30 years he has been trading, he has not seen such earnings volatility. This morning, SNAP and F were very nice to Brian and I, and we made some great trades on them. You can watch the recap that Brian and I posted here.
By now you are no doubt aware that Meta has had a rough week, losing $237 billion of its market capitalization in one single day. It is the biggest one-day loss of value in the stock market’s history. The number of Facebook users dropped for the first time ever, and FB dropped the whole market down. SNAP itself dropped over 20% on Thursday, but then, after the markets had closed, SNAP reported its earnings and subsequently gapped up 60% in after-hours trading! Amazon also reported astonishing earnings and, unexpectedly, Amazon’s ad revenue is higher than YouTube’s!
Here at Bear Bull Traders, we are finishing our week strong with some profitable day trading in the chatroom. Year-to-Date, Nasdaq (QQQ) and the Russell 2000 (IWM) are both down around 11%, while SPY and the Dow Jones are down some 6% and 3.5%, respectively. Do have a look at the chart below.
As ever, you can reach out to me at [email protected] or simply reply to this email.
To your success,
PS: Valentine’s Day is coming up, and to celebrate, we are pleased to offer you a 50% discount on our Elite annual memberships. You will pay the same rate as if you had paid for one year of a basic monthly plan, but you will receive access to everything Bear Bull Traders offers. For more information on our Valentine’s Sale, please check out our LOVERS50 promotion here