Daily Plan 11/16/22
Bullseye
Folks-
I shared 3 ideas in my plan last night and all 3 turned out to be right.
Starting with SE. SE was up almost 40% today after it’s earnings.
Then WMT. WalMart rose about 10% today after it’s earnings.
These WalMart charts indeed looked nasty. They may have caused an untold number to go into puts. In the end, Orderflow prevailed as the stock rallied towards 150.
And last but not the least, we saw a 80 point rally in Emini S&P500 to not only trade at 4050 but actually fail the breakout (at time of this post). We are now trading about 40 handles lower at the moment.
Not only these levels contained the day, I also called the softish PPI today.
Gold bottom called by me at 1600 also looks good, with Gold trading up to 1800 dollars almost within a week or so. As well as TLT up about 8 dollars off my $92 LIS.
BTW- I wrote an educational post on the stuff that I watch every day , 5 days a week. Check it out if you have not already.
Here are my levels for tomorrow as well as my thoughts on the earnings for NVDA.
Folks, actually as I was drafting this newsletter up, I was one of the first to break the news that a missile may have hit Poland, killing a few. This is developing story and caused a lot of volatility. My targets for tomorrow already have been hit and this development has thrown a wrench in my weekly time frame outlook (due to related market action). More on this later.