💻Here’s Why the Tech Rally May Get Crushed

Good morning. Since the start of the year, many oversold stocks – largely in tech—have seen a big...

It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.

Good morning. Since the start of the year, many oversold stocks – largely in tech—have seen a big move higher. Some are more than double off their lows. That includes Tesla Motors (TSLA) which more than doubled in just over a month. That kind of trend isn't sustainable. And at a time when EV companies like Tesla are cutting prices to keep market share, it's also a sign that the moves in the market are simply stocks coming off of last year's fear-driven lows. It's not a sign of a new and sustained rally quite yet. That's why there are still ample opportunities for traders to target dropping stocks in the weeks and months ahead. Now here's the rest of the news: Sponsored Content Why A.I. is Changing The Lives of Traders? Steve Jobs, Bill Gates, Eleanor Roosevelt, Jeff Bezos... The list goes on and on, but it does eventually run out... …because not everyone "changes the world." Nor do they want to. But then there are some people like my father, Louis B. Mendelsohn, who set out to change an industry. It just happens to be that the industry he revolutionized has the power to "change the world" of traders like you. And here's how traders are making the most of it to protect and grow their capital in volatile markets. SAVE YOUR SEAT FOR OUR NEXT FREE A.I. MARKET TRAINING HERE >> MARKETS DOW 33,699.88 -0.73% S&P 4,081.51 -0.88% NASDAQ 11,789.58 -1.02% *As of market close • Markets closed lower on Thursday, reversing morning gains. • Oil dropped 1.0 percent, closing at $77.72 per barrel. • Gold slid 1.0 percent, going for $1,873 per ounce. • Cryptocurrencies traded lower, with Bitcoin at $22,028 at the market close. Today's TOP TIPS Bet on Strong Brands, Even Amid Short-Term Setbacks Customers will pay more for a brand-name product that they know and love. That's true with everything from home goods to restaurants, and even to choices of entertainment. A company that invests in building a strong brand can create excess returns for shareholders over time. But even great companies will see setbacks. That can create reasonable buying opportunities to get in on the long-term wealth-creation benefits of owning great companies. » FULL STORY Insider Trading Report: Nike (NKE) Peter Henry, a director at Nike (NKE), recently bought 557 shares. The buy increased his holdings by 16 percent, and came to a total cost of about $70,000. This is the first buy at the company since last June, when another director picked up 10,000 shares for $1.03 million. Those mark the only insider buys over the past two years. Otherwise, a few company executives have been slight sellers of shares, mostly as stock options are exercised. » FULL STORY Unusual Options Activity: Sigma Lithium (SGML) Shares of lithium mining company Sigma Lithium (SGML) are up 174 percent over the past year, thanks to a view by investors that rising electric vehicle production will require more of the metal. One trader sees the stock cooling off in the months ahead. That's based on the July $22.50 puts. With 161 days until expiration, 3,100 contracts traded compared to a prior interest of 113, for a 27-fold rise in volume. The buyer of the puts paid $1.78. » FULL STORY IN OTHER NEWS • Economy In a "Rolling Recession" Unlike a typical economic cycle that moves up and down, the current economy shows signs of a "rolling recession." That's because some data points such as manufacturing and the housing market already show a decline. However, the labor market remains strong. That suggests that pockets of strength and weakness will continue. • Disney to Cut 7,000 Jobs The Walt Disney Company (DIS) announced that it would cut 7,000 jobs as a cost-saving measure. The entertainment company is also looking to restore its dividend, which was cut in 2020 at the start of the pandemic. The move comes as the company reported an earnings and sales beat. • Big Pharma Companies Looking for Deals Again Major pharmaceutical firms like Pfizer (PFE) and Merck (MRK) say they're on the lookout for promising drugs to add to their pipelines once again. Typically, pharma companies earn a patent on drugs, which eventually run out after several years, so new drugs need to be added to the pipeline. • Bing Unveils AI Features Bing, the web browser operated by Microsoft (MSFT) has unveiled its latest innovation, offering artificial intelligence (AI) features. The features are powered by a combination of OpenAI GPT and the company's Prometheus model. The features currently offer more depth to AI than that being offered by Alphabet's (GOOG) Google search engine. • Lucid to Discount EV Models Electric vehicle manufacturer Lucid (LCID) is offering buyers of its Air luxury sedan a "credit" of $7,500. That's similar to the EV tax credits currently offered by the U.S. government. The credit is good through March 31, and the implementation of the credit comes as other EV manufacturers have been cutting prices. S&P 500 MOVERS TOP MPWR  10.649% MGM  6.336% RE 6.001% WYNN 4.603% ORLY 3.802% BOTTOM IFF 18.73% BAX 11.942% STE 10.776% SEDG 8.611% VFC 8.122% Quote of the Day This earnings season was subpar at best. It takes time for these rate hikes to affect earnings. Now, we're starting to see that. - Eric Sterner, CIO at Apollon Wealth Management, on this lackluster earnings season, and why more layoffs and lower earnings may be in the future in the quarters ahead. Sponsored Content This A.I. Spots Trades Like a Spy, See it Live Today! Don't get caught in the trap of not knowing where the markets are going or standing on the sidelines in a twisted game of intermarket correlation. The truth is that it's impossible for you (or any human) to visualize and calculate complicated intermarket causations. You're invited to this FREE live training to learn from artificial intelligence which global markets have the most influence on a target market. Let's See The Artificial Intelligence Live & Free! Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks › Step #2 - Join Our Premium Advisory: The Next Superstock › Step #3 - Claim Your Free Copy Of: Big Book Of Chart Patterns | How to Trade Weekly Options For Weekly Income We just wanted to take a moment and say thank you so much for being part of our family! 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