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- Tonight’s earnings could shake things loose on this sleeper setup
Tonight’s earnings could shake things loose on this sleeper setup
This one’s been coiling for a month...
*together with Prosper Trading Academy
TONIGHT!
Unlock the Secrets of Options Trading with Two Industry LEGENDS: Former Goldman VP Scott Bauer hosts ThinkOrSwim Founder Tom Sosnoff @ 8pm EST.
Hey Folks,
Yesterday’s celebration gave way to this morning’s hangover as the markets gave up a chunk of yesterday’s massive spike.
It’s a good time for a reminder that a particular percentage decrease on the way down requires a larger percentage increase on the way up to get back to where we started.
So if a stock is at $100 a share and it drops 20% to $80, it will take a 25% gain to get it back to $100.
Basic stuff, but worth bearing in mind.
Today’s plunge is being fueled by this Wall Street Journal report that President Trump privately said he was aware his tariffs could cause a recession, and that he was willing to accept a good amount of pain over the policy.
But part of what made him issue the 90-day pause was his fear that he may cause a depression.
I don’t think even the most pessimistic economists were thinking that!
The White House also “helpfully” clarified that its 125% China tariff is on top of the 20% tariff imposed for the country’s fentanyl sins — for a total tariff of 145%.
These headwinds have been too much for my “tactical trade” idea from this morning to take off — so far — though I’ll still be watching it as the day unfolds.
To make up for the boring performance on that “tactical” idea, I’ll be doing something unusual this evening.
There’s a small stock on my radar right now that’s been shoring up its support level for the last month…
It’ll be releasing earnings after the bell today, and I’m excited to see what we get. That could be the catalyst it needs for serious takeoff.
If all goes well, I’ll send you my full writeup on the situation, so stay tuned to your inbox this evening for the details!
To Your Success,
Jeff Bishop
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