Is This The TRADE OF THE WEEK?
Is This The TRADE OF THE WEEK?
I discuss a potential trade to watch for...
Good evening traders,
Last night we told our exclusive traders/readers our thesis going into this week on the overall market conditions.
Today, our thesis was proven successful as we warned of scaling back and being a little more conservative based on the abnormal and excessive technical breadth we are seeing.
The good news is, it continues to be a stock traders’ market and as a stock trader, it doesn’t matter what the SPY 0.00%↑ is doing because our job as stock traders is to outperform the SPY by trading…STOCKS!
Recently we have seen many stocks lift off which we called:
We have also seen pandemic beaten down names such as airlines see a spart as well with AAL 0.00%↑ moving strong last week and BBIG 0.00%↑ rallying huge last week and BBIG 0.00%↑ storming to the upside as well. It doesn’t stop their though with AMC 0.00%↑ and other popular retail stocks seeing strong sparks as well.
You are probably wondering…
WHAT THE HELL IS GOING ON?
I have been saying for weeks that small caps and lower priced stocks have potential for massive, short lived upside this year and we are seeing this in full effect.
We believe 2023 will be a year of large, massive rallies in individual names and as a result us traders will have to have higher turnover in our account positions.
🔥A Hot Start…
So far, we have been off to a HOT start in 2023 calling MASSIVE movers before they ran HUGE but, right now there is not much conviction!
There is a time to trade, there is a time not to trade! The issue is many people force trades; they try to trade B+ Set ups because they get bored.
We want the premium, A+, best of the best set ups and if you read last night’s commentary then you know exactly what we are seeing that is of…CONCERN!!