Futures are up in pre-market after a horrible week of down days. The market has hopes that after the job report, that the Fed might do a rate hike of .50 bps over the .75bps that had caused the market to sell off after a very aggressive Fed signaling of curbing inflation. However, the Fed will weigh in on QT , as the Fed will look to continue to balance off their books, as inflation continues to grow.
The PMI Index is set to print today, and this will be a key metric on how aggressive the Fed might be later this week. Growing inflation is nothing new this year, as the Biden administration continues to pump out record numbers of debt into the market.
AAPL is set to reveal their new iPhone, AirPods and more this week. AAPL has stumbled hard, dropping from 178 into the 155 range, after having a sharp recovery from the drop this year. These events usually have some stock movement, however; the overall macro economics will prevail over any hype this can create.
TRADES:
I continue to be nimble, but set up more positions last week heading into this short trading week after the Labor Day Holiday.
#AAPL: I set up shorts last week as the support wavered and the stock dropped into free fall before some recovery on Thursday.
#CMG: Is still pretty illiquid, but I was able to set up a a strangle , with a large price spread here.
#NVDA: Dumped very hard after the government shut down the chip makers exporting rights to China. There could be some recovery here later this year , as the stock pushed into new 52 week lows. ARK bought into its position here again on the low, which is a bad sign given shitty Cathie Woods trading record.
#TSLA: Continues to show solid volatility , which has been great for trading. I have credit spreads on both he long and short side, with leverage on the downside. I was able to already close out positions on Friday for big gains that I had legged into for this trading week.
Keep nimble, as this market is going to be very volatile. Credit spreads, straddles, and heading techniques are still the correct trading plays for consistent profits in this market.
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