Podcast EP 112 Take some INITIATIVE in 24! (Jan 5, 2024)

$SPY $QQQ $IWM $ES_F $VIX $AAPL $AMZN $META $MSFT $NVDA $TSLA $TLT $TBT

Jan 05, 2024

Transcript

Podcast Available on

Spotify | Apple | Google Podcasts | Amazon
Follow me on Substack Notes

Premium Service Preview

“Honesty in a sea of deception is of great value” - Ralph (Pledged)

“I like your in-depth analyses of the markets as well as pointing out what might lurk underneath that could rise up to bite us” - Sorell (Pledged)
—
“Your Wrap on the markets every day keeps me focused and grounded” - Lj (Pledged)
—
"I want to learn how to read the market for longer term trades as opposed to what Wall Street wants me to do” G.M (Pledged)
—
"I like your objective view on the markets” Ron P (Pledged)
—
"Good info. Succinct and relevant. Very good calls this month.” Andy J. (Pledged)

I want to thank the 2000+ Subscribers who support the Substack!

I plan to turn on premium when we surpass 3000+ total subs
Pledging requires a credit card but it is not charged until Premium goes live
What will premium include? (at minimum)
1. Watchlist(s) (Bullish, Bearish, Price levels, if then scenarios)
2. Webcasts covering charts of all above
3. Additional Premium only content viewable in daily show notes for Premium subscribers
4. Complimentary PDF copy of the upcoming book "The Maverick Investor's Handbook" by Bill Cara, one of my mentors. (a $20 value but priceless learnings).
  *This book is geared toward longer time frame investors, Baby Boomers retiring who want to manage their own 401k/wealth, and younger investors trying to avoid the #YOLO gambling
5. Over time you will develop ability to analyze the markets and become more comfortable making your own decisions and controlling your own wealth

I want in! How?
Instructions:

Subscribe by clicking “Subscribe” or this link.
Once you are a subscriber, you should see buttons that say “Pledge your support”

Show Notes

Summary of the day

A pullback to the 50 day ma for $SPX would be normal and still maintain bullish momentum. Keep watching yields. Under 4.5% is good. Over 4.5% is bad.

Trade setup

I wanted to share a freebie trade setup. This is a preview of the type of technical setups I wll share from my observations of hundreds of charts and companies per day.

$ARKK. Most will know this stock as ARK Investment Management LLC, managed by Cathie Woods. She is usually a regular on CNBC talking her book. The entire holdings of ARKK 0.00%↑ are here.

Top 10 below:

Perfect setup whether you are bullish or bearish. Defined risk, defined stops. Offers initiative trade expectations. If you got in on Dec 13, 2023, it offered a nice pop for a trade. You could have easily sold for profit before the New Yrs eve party.

ARKK today:

It is currently offering a similar balance area to watch and trade. If you are bullish in the market and thus bullish on $ARKK, as it has performed very well in line with QQQ, you can go long or buy options as it breaks up initiatively out of this range.

If you are bearish the market or ARKK 0.00%↑ you can sell short or buy options as it breaks initiatively down out of this new range.

Each trade offers an attractive risk reward and areas to put in stops.

Even better, ARKK is also in a state of back testing a breakout from a huge basing pattern. It will either back test and go up, or backtest and fail. The least likely scenario is that it will chop for a long time.

Another example of this setup can be seen if you travel with me in my time machine. SNPS 0.00%↑ Synopsys is a company not many people have heard of.

Synopsys is an American electronic design automation company based in Mountain View, California that focuses on silicon design and verification, silicon intellectual property and software security and quality.

If you bought the multi-year range breakout on Dec 2, 2013 at $37, you would be up 1,200% today. Sure, not as great as NVDA 0.00%↑ at 13,000%, but it was an still is a non stop elevator ride.