People keep asking if we should start cashing out of our positions in Money Flows Elite. But I’ll explain why we’re sitting tight below, which I discussed on this morning’s episode of Crush the Open.
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I see bulls keeping this rally going through the end of this month before the bears return in December.
So I’m bullish in the short term… But heading into the new year, I think there will be a massive move for people to book losses on the year in order to tax law harvest.
That, in addition to more negative storylines like layoffs and downsizing, and profit warnings will help drag the market lower. Because the real economy is just now starting to get smacked.
Now let’s discuss a trading opportunity we covered on Crush the Open…
Crush the Open
So that brings me to what I’m watching this week… First and foremost, that’s chip stocks. And that’s because Nvidia Corp. (Nasdaq: NVDA) reports earnings after the close on Wednesday, which brings us to our good friend Advanced Micro Devices Inc. (Nasdaq: AMD), which is trading for about $75 on Monday — less than half the price of Nvidia’s $165.
When NVDA moves on earnings, so will AMD — and its options are much, much cheaper at roughly about a third the cost in the weeklies and December monthlies.
I see this as a 50-50 ball in sports terms, risking $15 downside to make $15 upside — that’s not a good play, so I’m sitting this one out.
We’re looking for trades that are better skewed in our favor from a risk-reward perspective, meaning risk less to make more. In sports gambling, I often do parlays where I can risk $1 to make $4, $5 or even $6 — and that’s how I look at trading.
Check out Crush the Open up top, where my boy Lance Ippolito and I discussed a big number of actionable trading ideas for the week ahead.
I joined late after watching my son perform at a music event, and Lance discussed why he wouldn’t be so quick to start shorting crypto stocks in the FTX aftermath among other things.
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The winter energy crisis is quickly approaching…
And billionaire investors stand to make a killing off what could happen next.
Join me live as I reveal the truth behind this energy catastrophe.
Because I’ve discovered new evidence that we’re at the beginning stages of what experts call an “Energy Supercycle,” a rare phenomenon that played out during the oil shocks of the 1970s.
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