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Is Energy Making a Comeback? Plus an Earnings Season Update

by | Aug 3, 2022 | Market Updates

The markets moved higher, looking to break back-to-back losing sessions — and more in Wednesday’s stock market recap.

Wall Street seemed unnerved by House Speaker Nancy Pelosi’s Tuesday visit to Taiwan, a self-governed island China claims as a territory, worried it could further strain the already tense relations between Beijing and Washington. But following her departure, the major indexes appeared to rebound.

Earnings season continues, with Advanced Micro Devices Inc. (Nasdaq: AMD), PayPal Holdings Inc. (Nasdaq: PYPL) and Starbucks Corp. (Nasdaq: SBUX) all beating analysts’ estimates on both earnings per share and revenue.

AMD’s third-quarter revenue forecast came up short, causing the stock to slide 6% lower in premarket trading.

Meanwhile, Starbucks interim CEO Howard Schultz indicated customers aren’t pulling back on their spending despite inflation, causing shares to rise nearly 2% in premarket trading.

In this morning’s stock market recap video, I’ll reveal how low bonds will go…which sectors to fade right now… the weakest sector and stock… the strongest sector and stock… whether energy is coming back… plus a full update on earnings and what it means for your portfolio.

Don’t forget to like and subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video and see what other trade opportunities we’re paying close attention to!

P.S. How Long Can I Keep Up the 100% Win Rate?

The 100% win rate* keeps on rockin’!

Pattern Trader members had the ability this past Friday to lock in their biggest win yet — a 36% gain** on COF in just two days! That’s right on par with our average hold time of three days per trade…

That makes a total portfolio gain of 188%, with an average return of 17.1% per trade — what a hot streak!

And it was all possible with the power of today’s state-of-the-art algos at the tip of your fingers…

Pattern Trader members know the historic win rate, profit factor and equity curve of the trades before they even get in!

That’s why I’m going LIVE at 1 p.m. EDT on Thursday, Aug. 4, to break down the strategy.

Register for the Event Here

P.P.S. When it comes to trading, every second counts. And in choppy markets like these, often driven by headlines, stocks can make big moves in a flash.

That’s why I want you to get my latest trading ideas and market updates as fast as possible. So I’m rolling out an all-new option for my students to receive trade alerts with Telegram!

Telegram allows me to get trade ideas, videos and watchlists to you in a matter of seconds.

Check out this short article we put together with instructions on how to download telegram and access my private channel. Go here to get the details. 

Building on the sector analysis from Tuesday, I’ll take things a step further every Wednesday with two FREE trade alerts! I’ll identify my favorite stock in the strongest sector, and even a short opportunity from the weakest sector. That’s two trades… absolutely free… each week!

Need help understanding some basics that we discuss frequently? Check out some of our educational pieces to help get yourself up to speed! Have a question or a topic you’d like us to explain in a future article? Send your thoughts to support@marketgeeks.com!

Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.

*Stated results are typical for given period. Past performance is not indicative of any future results. Trade at your own risk. From May 23, 2022, through July 29, 2022, the win rate on live trades is 100%, the average return is 17.1% on the options over a three-day average hold time, and the total portfolio gain is 188%.

**Stated results are atypical for given period. Past performance is not indicative of any future results. Trade at your own risk.

WRITTEN BY<br>Roger Scott

Roger Scott

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