Stock Market Plan March 14
Welcome to the market recap for Thursday March 14, 2024. The plan for members is below in the paid section so let’s get started.
Today was a lot of nothing and we sorted that out in the Wednesday AM call before anyone did anything to rash and made any trades. We also scanned for unusual call/put flow and checked the dark pools today but didn’t see any trades, so we did nothing. - That’s a joke, if you do either of those please unsubscribe from this site.
Tomorrow, we have a lot of data at 8:30am that is going to drive price and then OPEX to end the week. I have a few small longs on going into tomorrow and added to some metals names I’ve talked about.
Valero/Oil - Great move today and a new ATH, we’ve been waiting on that for a while and patience is paying off. The entire sector is still pushing, and I’ve said it for a while that long energy is the place to be right now so not much else to add to that. Hard to have not been long that and while I missed tech long (I did trade in and out on them) this was a big (and still is) allocation for me right now.
Tesla - We finally broke down today, I figured we need to rally to short but Wells Fargo and the banks have another plan. I think the fix is in with Elon here and they are after Tesla given his opinions the last year or so (many of which I agree with) but the mob seems to not be happy with the guy. There is a problem there with this stock and I talked about it Sunday in the report but trying to short just yet has been hard. I expect it to rally into Friday so going to trade that off the lows tomorrow, or at least that is the plan.
MSFT - This is on my radar still and has been for a few weeks. We tested higher today and failed but I am watching to see if we press. Below $410 it creates a big short again (check last weeks notes). Literally, the same plan is in place right now.
In The Premium Video Tonight:
S&P500/Nasdaq/Crude Analysis
Breakdown of MSFT trade and discussion on qualifying an “A+ setup”
Quick Update on Valero
Tesla Targets and Notes for a DayTrade
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