What a day

Like many things in life it only takes one, for stocks to change that means one day in the market. Just yesterday I wrote about the S+P hitting a New All Time High, I also mentioned that it could all change “Tomorrow” and it did. CPI numbers came out today and that had the leaders rotate out of the S+P and the NASDAQ over to the RUSSELL 2000. I’m still long the S+P via SPY and will be adding on bounces up off of pullbacks. I started that position months ago and have lots of wiggle room to work with on my Long Calls for OCT 2024.

One thing I promise is that this blog is not dedicated to NVDA. The reason that I, like others write about it so often is because it’s been the market driver for some time. TBH I look forward to sharing about other stocks. But it is still noteworthy to look at the Options on it for JUL 2024. Today the Call Contracts at the 140 Strike now sit at 89,000 contracts. Remember one contract represents 100 shares. The Put side did not pick up much steam today. This is relevant, that is a extremely high number of Open Contracts for one single Strike. One needs to consider the amount being bought VS the amount used by the Shorts. Normally it’s a detective act to decipher. But when you have 80,000 on the Call side and only 6,700 on the Put side like we had yesterday, that imbalance screams buyers. Those contracts are still open, losses can and do occur. And they have 6 more Trading Days until 4pm EST, JUL 19, 2024 to figure it out.

We are making progress with both the new layout of the newsletter ( which yours truly has done on his own so far!!! Still working on it ) and the website itself. That I am getting some help with. To go to it so you can see past posts simply click on investingwithfaith.com here or anywhere in this newsletter. It won’t be long before more content is up and running on the site.

Side note: It’s hot out there, if you are in a state that is having one of those excessive heat waves please be safe.

Invest wisely, live charitably and be well

Brother Bill

DISCLAIMER: All content provided in this newsletter, blog, webinar, video, chart, communication is for Educational and Entertainment purposes only. Nothing included or mentioned is meant to be construed or used as trading / investment / financial advice. Trading / investing carries risk of loss, losses can and do occur. NO recording aloud...Know your risk and risk of loss before taking on any financial endeavors. Past performance is NOT a 

guarantee of future success. I am NOT a licensed or registered financial advisor or tax accountant. Prior to making any trading / investing /  financial decisions you should always consult with your licensed and registered financial advisor and tax accountant. There are no recommendations or solicitations  to buy, sell or hold any stock, future, options or bonds or any other financial entity in this newsletter. Nor are there any recommendations on any type or way or method to trade / invest. You do not have permission to redistribute this newsletter without my written permission first. 

#stocks #stocktrading #stockinvesting #options #optionstrading #stockmarket #optionsinvesting #SPY #S+P #NASDAQ #QQQ #RUSSELL2000 #NVDA #AMZN #MSFT #GOOG #TSLA #AAPL #META