To The Moon

Congrats for surviving the FOMC this week! A quick 85% gain within 90 mins from taking calls at the opening. Shorted META from the top selling covered call into next Friday. Get ready for more volatility to end September with more news to shake the market next week. At the meantime, have a blessed weekend and relax yourself 🙏 Friday’s slide marked the fourth straight day of losses for the three major indexes. The losing streak came as investors reacted to a signal from the Federal Reserve that it intended to keep interest rates higher for longer. Another gap fill trade opportunity Concern also grew around a government shutdown, which could dent consumer confidence and slow down the economy further. House Republican leaders sent the chamber into recess on Thursday. House Speaker K

Been a roller coaster ride since the FOMC meeting on Wednesday. Expect some weakness to conclude the weak month as the price action should hold above the August low before a much anticipated reversal into the stronger October. Tech is set for its worst month this year as traders yet again come to terms with the Fed staying higher for longer, which includes elevated bond yields. Bloodbath selfie anyone? 🩸  Tech companies Amazon.com, Nvidia, Alphabet and Tesla were among the biggest S&P 500 decliners Thursday in terms of market cap as the prospect of still-higher yields sinks in. The S&P 500 info tech index is by far the worst-performing sector for September. Both it and the Nasdaq 100 are posting the biggest monthly losses since December. Tough week ahead? Chip bellwethers

The Federal Reserve maintained the federal funds rate at its existing range of 5.25% to 5.5% during its September meeting, as largely predicted by the market. The Fed statement reiterated that additional policy firming to bring inflation to the 2% target may be appropriate depending on the upcoming economic data, effectively keeping the possibility of a future rate hike on the table. 2-Yr Treasury Yields Rise To 16-Yr Peak In terms of the dot plot, the median projection for 2023 remained consistent with June’s figures at 5.6%, indicating a preference for one more rate increase, potentially occurring at either the November or December meeting. The median dot for 2024 showed a federal funds rate of 5.1%, implying a reduction of 50 basis points in rates from current levels. However, such a pr

Financial markets, mostly traded within narrow ranges as investors await the results of major central bank decisions this week. The US monetary authority is widely tipped to hold interest rates on Wednesday, and focus will be on policymaker predictions for where borrowing costs might be further over the horizon. Investors and economists will keep their eyes trained on the policymakers' economic projections that are released at the same time. In addition, they'll be listening for any hints about the likely path at following Fed meetings, especially the last one of the year on Dec. 12-13. Nearly all Fed officials have been repeating Fed Chair Jerome Powell's mantra of "higher for longer," but the summary of economic projections ("SEP") will offer a view of how high the central bank may go an

$Tesla Motors(TSLA)$  7% gain on a reversal play for TSLA. The slide could be linked to the rumour denied by Elon Musk on Saudi Arabia as well as the automakers strike happening right now. ⚠️ Trading tips: looking at calls above 269 and puts under 263.7 on Tuesday. Saudi Arabia has been wooing Tesla with the right to purchase certain quantities of metals and minerals the company needs for its EVs from countries including the Democratic Republic of Congo, some of the people said. Need some good news to pump it up The Saudis approached the Congolese government in June about securing assets in the country, which supplies around 70% of the world’s cobalt, The Wall Street Journal has reported. In recent years,

$Meta Platforms, Inc.(META)$  86% gain from taking META call and sell covered calls over 5 trades on Monday. ⚠️ Trading tips: Looking for pullback near 300 to take calls since FOMC announcement falls on Wednesday afternoon. Employing dip buying strategy as another choppy day with flat price action expected on Tuesday 🥱 Ray not banned in the USA A new pair of smart glasses jointly developed by Meta Platforms Inc. (NASDAQ:META) and Ray-Ban‘s parent company Luxottica Group appears to have received clearance from the Federal Communications Commission, or FCC, hinting at a possible imminent release.  The FCC database now lists a Luxottica-branded smart glasses product, reported The Verge. Given th

Crude oil climbed for a third week as output cuts from the world’s two biggest producers — Saudi Arabia and Russia — played their desired role. WTI rose above $90 a barrel. Forecasts for a supply deficit going into year-end are underpinning calls for $100 crude in the not-too-distant future amid signs that China’s economy is stabilizing and the US’s extended resilience despite the Federal Reserve’s epic rate hikes. Testing the century mark again? The bond market, meantime, remains massively skeptical that this rally means much at all. Breakeven rates — the gap between yields on regular Treasuries and those on bonds protected against inflation — have increased at a far more modest pace. That is probably due at least partly to the Fed’s success in bringing core inflation down to a 4.3% annua

This week all eyes will be on the next meeting of the Fed's rate-setting committee for insight into where monetary policy goes from here. The markets are all but certain that central-bank officials will hold rates steady Wednesday but are divided on the possibility of another increase later this year. Cracks have emerged in the tech trade. Shares of Apple, the largest company in the S&P 500 by market value, have declined 6.8% this month, while Nvidia, the index's top performer for 2023, has retreated 11%. They are still up 35% and
 200% in 2023. A bargain not to be missed? 🍎 The dual drops have helped pull the technology sector to a 4.3% decline in September, putting it on pace to lag behind the S&P 500 by the widest margin in a month since November 2018, according to Dow Jones Mar

Thanks to Tiger for awarding the weekly top predictions for AAPL. The fruit stock has proved to be the poor performer of the week after the Wonderlust event. An opportunity ahead for dip buyers should SPY hold and bounce off 443 next Monday and follow by FOMC announcement. The Dow closed out a positive week, up by 0.12%. However, the S&P 500 and Nasdaq both suffered a second straight week of losses, lower by 0.16% and 0.39%, respectively. Risk appetite saw a setback during the final session of the week as stock markets dipped in response to a renewed surge in inflationary pressures. Oil prices made a notable climb, with the WTI benchmark rising to $90 per barrel. Furthermore, the uptick in Treasury yields added to the dampening effect on risk sentiment. The 10-year yield edged up to 4

Wednesday: Stocks closed mixed as traders digested the August inflation data, which came roughly in line with expectations. In line with expectations, the headline consumer prices index surged up 0.6% month-over-month, with higher energy prices contributing to much of the upside. Core consumer prices climbed 0.3%, slightly higher than the 0.2% uptick expected by economists. The annual rate of core consumer prices cooled off from 4.7% in July to 4.3% in August. There has been no change in expectations for a Fed pause next week, said fund manager Louis Navellier. “If anything, the market seems to be relieved that the bonds are not trading down, as it’s pretty clear that getting inflation down to the Fed’s 2% target is going to be tough sledding,” he said. For now, the key is earnings, said