$NFLX Rocket & Oil Trappin
Europe led the US markets higher today with a gap up on strong PMI data which shows signs, according to the data, of a strong economy. The US PMI was strong as well and with NFLX 0.00%↑ beating earnings it pushed everything well above some technical areas I had on SPY 0.00%↑ and QQQ 0.00%↑
The NVDA 0.00%↑ move today off the open out of nowhere makes sense as we see that Auncy Nancy and her merry gang of decrepit thieves were, once again, trading on insider information. I love a liar, but I hate a cheater and while I shouldn’t be shocked I guess the news caught me off guard.
So, I did what any rationale speculator does: short it with OTM puts.
TSLA 0.00%↑ is up after the bell today and I have no feelings on that but the other forgotten semi-conductors were on fire today. TSM 0.00%↑ ramped pretty well and I discussed that in the Premium Video last night. I have a small position on that but cut some near 3pm because my concerns that semis-come in off this recent ramp.
Crude oil today was interest and we got a draw which was way more than expected -9.2M barrels v. -1.2M expected. There’s a video coming out tonight at 8pm EST for the futures traders here on the YT talking about the ODR trap on that market today.
Still very much bullish there and new adds in oil and gas were put in my book today. Fully expecting us to take out $75s overnight and for us to put in a low for Q1 here.
Also, fully short CVNA 0.00%↑ (again) through the equity - that makes day 2 of this shitco getting sold at the open heavily. The plan is to keep pressing this into high $35s but like all things market-related plans can change.
In the Premium Video tonight I cover:
Futures market plan for tomorrow
NFLX 0.00%↑ post earnings plan
A new speculative short explained and this idea of trading around a core position
Talking about market-timing