To The Moon

This week (June 24 - 28), is the final trading week of the month, the quarter, and the first half of 2024 will greet investors with: A light smattering of corporate results. A rush to superlatives to characterize another consensus-busting period for markets. A final key inflation reading. (1) Corporate Results. The earnings calendar will be in a lull this week. Earnings results from following companies, could (hopefully) be indicative on what’s in-store in the comng weeks and month: $FedEx(FDX)$. Tue, 25 June. PM. $Micron Technology(MU)$ . Wed, 26 June. PM. $Nike(NKE)$. Thu, 27 June. PM. Of the 3 stocks, all reporting earnings after market has closed, it is very

This is the last week of the first half of 2024, but option flows suggest a relatively muted first half close, making call sales more suitable. $NVIDIA Corp(NVDA)$ I was surprised but could understand Nvidia's consolidation from 1pm to the close last Friday - a breakdown may have been disastrous to hold.However, the needed pullback still needs to play out, so an opening drop on Monday is unsurprising.Friday's option activity showed a large 33,800 lot sale of the $NVDA 20240628 135 CALL$ for $3.853m in premium.This implies 135 will be a tough resistance this week. This every-other-week call selling approach is very familiar, mirroring Tesla's behavior. If we see another large call

* Chip stocks lead U.S. stocks lower; Hong Kong stocks slide as yuan weakens, trade war looms 🇺🇸 S&P 500: -0.16% 📉 🇺🇸 Nasdaq: -0.18% 📉 🇪🇺 Stoxx 600 Index: -0.73% 📉 🇯🇵 Nikkei 225 Index: -0.10% 📉 🇭🇰 Hang Seng Index: -1.67% 📉 🇨🇳 CSI 300 Index: -0.22% 📉 * Wall Street ended lower on Friday, with the S&P 500 and Nasdaq Composite falling -0.2% each, dragged down by semiconductor stocks, with artificial intelligence chip company Nvidia falling -4.4%, while investors also assessed stronger than expected US PMI data. * The preliminary S&P Global U.S. manufacturing PMI in June was 51.7, higher than May's 51.0 and 51.3, while the services PMI also exceeded expectations, reaching 55.1, compared with the previous expectations of 53.4 and 54.8, mainly driven by domestic spending in the servic