In a turn of events, Russia has started to pull back its troops. Cleary, Putin was just posturing to see what kind of response he would get. He was testing the weak U.S. administration in line with China, to see what kind of response would happen if China did similar in Taiwan. On this news, the market is soaring today, with the NDX up over 2% in pre-market.
This release of downward pressure is great news for NVDA bulls, as earnings are set to release tomorrow. NVDA is up 3.6% in pre-market . NVDA has been hammered like most tech stocks in the beginning of 2022, shading more that 17.5% this year. This pullback is great, as now NVDA's value is more in line with revenue, and there are high hopes of a beat for Q4, as semi-conductors, gaming, a data mining continue to rise. We positioned long calls here on Friday, and added more Monday with the late pull back to 238. Target estimates for the year are at $355.68, which is a 46.6% upside at current close levels on Monday. Look for some more bullish activity here going into the Game Day.
There are a few today but nothing that will shift markets too much. We have the PPI Final Demand, Treasury International Capital and Housing Starts .
BLOCK TRADING PROBE:
The SEC has initiated investigations and subpoenas to two of the biggest banks on Wall Street: Morgan Stanley and Goldman Sachs. Block Trades are huge lots (or Iceberg) that move markets tremendously when hit. You might notice these when you see huge swings in seconds that drives a stock a few % in a matter of minutes . This is usually a strategy you have been seeing lately from short sellers. The investigation can call these market manipulators, but given that this idea has been around for ages I don't expect much to come of it. It is bad for swing and day traders if this goes away, as it will reduce volatility and swings. Keep an eye out as more news comes to light.
Thursday, February 17: Walmart (WMT)
INSTAGRAM: day trading_traveler