Pre Market OCT 29, 2024

Stocks are mixed in the Pre Market this morning, tech is red

Yesterday morning in the Pre Market tech was green with everything else. To me tech looked “suspicious”. That is why I didn’t mention any tech names in yesterdays Pre Market report. APPL came out yesterday popping their own bubble if you will by saying that they are not where they want to be with AI technology

Bloomberg is now all but stopping short of saying that the giant AI run up of this past year is over for now. Again, they stopped short. GOOGL is after the bell today. ALLLLLLLLLLLLLL eyes will be upon it. ALLLLLLLLLLLLLLLL eyes

If tech does fall, or even pull back on any earnings announcements that might not bode well for any further market advancements. Not in the near future at least. GRMN which we spoke about yesterday here at thoptionscoach.net is a tech stock. No entries should be made until post earnings. That’s just smart investing

Yesterday we also mentioned HD
HD reports earnings on NOV 12, 2024
HD is down over 1% here in the Pre, we don’t buy when a stock is red
Should it go our way a few short term plays to consider up to earnings are Bull Call Spreads at the for NOV 8, 2024 at the 400 / 402.5 with a MID of 1.85 for conservative investors and the 400 / 405’s next with a MID of 2.80

This week is big for all of us, how these tech earnings report is a flip of the coin.
S+P Support has fallen to 5,790
Time to grind

The Options Coach