Here are the market observations for today:
- Indices in correction mode: The S&P 500 and Dow Jones Industrial Average are down four days in a row.
- A classic bearish action day today: S&P 500 opened strong but this is what happened.
- Blame in on Apple as the stock is down more than 2% on a court ruling that it cannot force developers to use in-app purchasing.
- Trading sentiment in speculative growth stocks continues to remain robust. [BBIG + AEHR]
- One Good Trade: Affirm AFRM, recommended at 64 now at $120. The company surprised the market with higher revenue. I will book profits now completely.
- Bad Trade: Novavax NVAX. Some trades are meant to deliver pain 🙁
- Experiencing something is exponentially more powerful than simply reading about it. I am talking about trading.
- GEVO is a Clean Energy play. It’s a buy at the current market price.
- Gap up and Away: When a stock gaps up, then it follows through with more gains. Lending Club is on one such journey.
- Earnings Gap up has played out like this when it comes to Palo Alto Networks PANW
- Macy’s Earning Breakout move has fizzled out and the stock stands at line of support. Cowen has upgraded the stock with $27 as the price target.
- I love when a stock does a clean breakout and sets itself for the move. See for yourself when it comes to Monday.com
- Will Rover, the world’s largest online marketplace for pet care, rally like Monday.com, as it has a similar chart.
- Large Candle Breakout seems to be working out in Alight ALIT
- If Blade Air Mobility BLDE closes above $10.2 today, then I will buy the stock.
- Long-term Investment holds 1. AMD; and 2. CLF
- Uranium stocks are on fire and it looks like I missed the rally. I missed BTU at 12 thinking it has rallied a lot 🙁
- Natural gas futures are trading near 2014 highs. Keeping an eye on Cabot Oil and Gas?
- It’s not what we do once in a while that shapes our lives. It’s what we do consistently.
- Read Yesterday Daily Dose
Do let me know how I can make this section more useful.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purposes. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers
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