Big Week For Big Tech Earnings πͺ
Once again, thanks to Tiger for awarding the weekly top predictions for QQQ. Looking forward to more opportunities to grow with the community! πͺ
In the last session of April, the stock market as a whole is in the green, with all major indices, except the Russell 2000, on track to post weekly gains with Nasdaq 100 is leading the pack surging past the bull territory once again.
The tech earnings have contributed to the surge in QQQ more than S&P 500 since the financial sectoris excluded from Nasdaq 100 as highlighted in my previous postings during this weak banking crisis.
More than 20% recovery since last Oct
Major stock indexes posted solid gains on Thursday and Friday to end the week and the month on higher ground, in part as earnings reports from several big tech companies including Alphabet, Microsoft and Meta Platforms were received positively by investors.
However, Amazon fell 4% Friday despite better than expected quarterly results, after warning growth in its cloud computing services would slow further.
Glaring red from the sea of green
Most of the Big Tech earnings are now in, and WSB subscribers were correct in forecasting big gains for Microsoft (MSFT), which rose 8.5% after the bell on Tuesday.
The biggest surprise was Meta Platforms (META), however, which eclipsed the advance of the Windows maker with a nearly 12% jump of its own during the following session (also reporting this week were Alphabet (GOOG) and Amazon (AMZN).
Just a splash, not a tsunami π
One of the big takeaways from the price movement is just how much the industry has bolstered the market this year as tech stocks continue to dominate the landscape.
Let's wait for the big AAPL to announce its earnings on May 4. May the force be with you π
Trade summary for April
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What a roller coaster of a ride. QQQ is out performing the NASDAQ by at least 0.20% today.
New 52 week high for nvda.
MSFT long and strong still, deep ITM. Now time for the June expiry $210 suckerberg $META puts to print.
Meta has enormous cash flow yet are coming to market to place debt. Not sure about this
I'm long QQQ delta now. Fed has shown that they have an ATM put.