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Once again we’re not seeing much directional bias in the market on this final trading day of the week, a week that’s seen very little volume and falling volatility. The bond market (TLT) is selling off, which is going to put some pressure on stocks. Consumer sentiment also fell 12.7% for the month of April, which doused the market with some cold water this morning… Most of the price action so far this morning, in my opinion, has been totally random. Notice that no sector was up even a half-point this morning, which tells me there’s no bus driver. Random action like this leads to low-probability trading, and the market filled the gap to the downside early, so don’t go trying to be a hero out there. One stock to keep an eye on is Tesla (TSLA). I shared this idea with my Trading Pit members already, and I’m giving it to everyone in my “VIP Trade Room” session — which is open to everyone to attend (noon ET Monday-Wednesday, 11 a.m. ET Thursday and Friday!). It’s no secret that Tesla has been a dog for much of 2024, down over 32% year to date. Check out this chart from my ProTrader Dashboard, the top right chart in the first image, specifically (which is a daily chart with all of the moving averages). The thick blue link that goes all the way across is the 50-day moving average, which Tesla just broke below (that big red candle on the far right. This leads me to believe it’s going to continue breaking down and fill the gap lower. I would buy the $170 put and sell the $167.50 put expiring next Friday, May 17. This will cost about $1.10.* Or a trader could buy the $170 put and sell the $165 put for about $2.20 in premium, giving you about $5.00 in profit potential, should things work out. I hope everyone has a great weekend! Be sure and join Graham for a very special event at 2 p.m. ET TODAY, when he’s rolling out the red carpet for a very special preview of a new project — he’s offering a nice discount today ahead of the world premiere! Roger Scott Roger Scott Trading Follow along and join the conversation for real-time analysis, trade ideas, market insights and more! Telegram: https://t.me/+_vmfwkeP8fA5YWQ5 *This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk. Graham Is Rolling Out the Red Carpet for ‘Moonshots’ — 2 p.m. ET TODAY For the first time ever, Graham Lindman is hosting a "Red Carpet" event at 2 p.m. ET TODAY, May 10, where he’ll expose his latest project: MOONSHOTS. What are MOONSHOTS, you may ask? These are 24-hour trades propelled by some of Wall Street's biggest investments, happening almost every single day. I have been LIVE trading these with our All Access Diamond members for the past few weeks, and the results are nothing short of astonishing…
During the event, I’ll detail the entire strategy and even provide select traders with access to the system, and the code behind these remarkable moves. So clear your calendar after lunch and… The trades expressed are from historical data in order to demonstrate the potential of the system. From September of 2023 through May of 2024 from the study we have seen a 74.4% win rate on options with an average winner of 76% and an average return of winners and losers at 44% on an average 24 hour hold time in a model portfolio. Want to get a link to TradingPub content, trade ideas, real-time market analysis and educational tidbits? We have you covered! Telegram is an entirely free messaging app and getting access is as easy as 1… 2… 3… 1. Download Telegram on your mobile device (Before you can add Telegram to your desktop computer, you must download the application on your phone and create your account: To download to your iPhone, click here. To download to your Android device, click here. After the download is complete, please create an account. NOTE: You can manage your privacy settings by clicking “Settings,” and then “Privacy & Security.” 2. Download Telegram on your desktop: Once you’ve downloaded Telegram onto your mobile device and created your personal account, you can download it onto your desktop computer. To download onto your PC, click here. To download onto your MacOS, click here. 3. Then add our channels by clicking these links!
See you there! |
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