Wait for the Earnings Call

MSFT earning call kills tech rebound hope

After Microsoft reported earnings yesterday, the stock rebounded by upwards of 5% in after hours trading. I was blown away, especially after I started reading about the breakdown of their earnings. I then remembered, just let them talk. 4:30 central time, Microsoft started their earnings call. The truth about how their past quarter went and then ultimately where they see the next quarter heading. The final 30 minutes of the call change the direction of where Microsoft and the QQQ’s we’re headed today.

Tesla reports after the closing bell today. If the M2 money supply report that came out yesterday is any indication of what consumers are capable of doing, we should expect Teslas earnings to not be so great. And if on the surface, they seem great in those CNBC headlines, wait for the earnings call. Let Tesla and its leaders tell us about last quarter, where they say the coming quarter is ending and then from there we can make a judgment call based on facts and numbers to where we need to position our QQQ trades.

As I’m writing this, the QQQ have bounced off their lows from this morning. But as we get closer into the close of the market, look for weakness, and taking advantage of that weakness through a short position, or using the inverse ETFs. (this is not advice or a recommendation, do your own due diligence).

Trade update

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0DTE Option Activity

QQQ PUTS super active today. Check the volume on these puts

SPY Put option getting a lot of activity.

Live Loud!

Trent

Disclaimer

This is not advise or a recommendation.