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Morning Brief: CPI Release, TSLA Turns Bullish

Last week, the market finished strong , closing the week with healthy gains with the NDX finishing up 4.4% . There is sentiment in the market that the .75% Fed rate hike is already baked into the market as the Fed's 21st meeting on the horizon. However, the market is still seeing highs in short positions, and last week seems to be a function of short squeezing. The market closed high as more and more traders were covering their positions as expiration hit Friday. It seems that another short squeeze could continue this week, leading the market to continue to make steady gains back after the Jackson Hole meeting.

CPI number is set to print this week, with expectations showing a cooling of inflation month over month, with predictions showing ~8.1% , down form the the 8.6% seen previously. This number will indicate whether the Fed will continue its strong hawkish rate hikes , with a possibility that the .75% might taper to .50% is the CPI is cooling faster than expected. I expect the .75% rate hike to be 98% likely, meaning the CPI cooling could create a market spike .

#AAPL continue to rally from their product release coupled with the short squeezing. I am eyeing AAPL to continue growing my underlying long position , and am waiting for more indication later this month to continue to buy the stock and improving my avg price.

#CMG saw a boost past 1,730 on Friday, as analyst upgrades continue to come in last week, with he highest predictions giving the stock an over ~2,000 price point. I have a long credit spread here, and also had sold puts at the 1,550 strike price to help pay for my long calls.

#TSLA has found bullish territory, which seemed almost certain as this company continues to expand its factories. Sales numbers in China were strong, and Musk sees the Chinese market as continuing to grow as the company creates a stronger foothold in the Asian Market. I am set up with two credit spreads here, one long and one short, leaning towards the bullish side.


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