| | Tesla and Tech Are Still Taking the Bulls Higher
By Gianni Di Poce
The tech sector, as tracked by the XLK ETF, is up close to 22% over the past six months, beating, by a mile, the 16% gains seen in the S&P 500.
While we've seen some compelling signs that the market is ready for new leadership, tech is still presenting problems for the bears. | That said, I think we're in the sucker phase of the current rally; bandwagoning, not fundamentals, are powering this thing higher. | I need to see participation broaden significantly if I'm to be convinced this is sustainable. | But, for all of that, I'm not ready to switch up to bearish trading strategies yet. There are still breakout setups unfolding, served up on a silver platter. | Let me show you what I mean… | | And now to Don Kaufman…
TheoTrade Daily Chatroom Schedule for Wednesday, July 3, 2024
9:20 AM to 10:00 AM: I'll be starting off this short trading day
10:00 AM to 10:30 AM: Professor Jeff Bierman makes you a better trader
10:30 AM to 11:00 AM: Gianni Di Poce moves into the third quarter
11:30 AM to 12:00 PM: Blake Young has the best charts around
12:00 PM to 12:30 PM: Brandon Chapman checks top performers
12:30 PM to 1:00 PM: Tony Rago finds targets in NQ charts
1:00 PM to 2:00 PM: Corey Rosenbloom will make range and trend plays | My Catapult Followers Just Booked Two Massive Gains
I had to close down Catapult to new members today so that we could get down to business with our classes - and start trading. | We had a pretty good day… Remember, each Catapult is two trades - one small and boring, the other an absolute monster moonshot. Our boring old $10 trade paid 37%, so we rolled that into a TSLA spread we just shut down for around 147% in profits. Like I said, Catapult's closed to new members right now, but keep your eyes peeled - we'll reopen it for a little while the next time the market lines up. | | We'll talk again soon, | | Don Kaufman
Co-Founder, TheoTrade |
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