For the past few years, the tech-heavy Nasdaq has lived and died with the FAANG stocks…
And Thursday’s earnings reports for Amazon and Apple weren’t good.
In Thursday’s Blitz Daily, we wondered if Apple had already made its move… Looks like we have our answer.
Shares for the tech trendsetter opened Friday $5 lower from its previous close, but the bulls bought the FAANG stock’s dip, closing the gap within the projected move around $3.65 per share by lunchtime.
Likewise, traders are buying the FAANG dip with Amazon, pulling shares back to their pre-earnings run-up levels from mid-October.
But in spite of getting almost no help from the FAANG, the Nasdaq printed record highs Friday.
So let’s take a minute to look around these bizarro markets and see just how we got here, and what that means as we head into November.
Aggressive “desk clearing” FDA approvals are fueling some of the easiest profits of 2021… And the next 61 days could be even bigger.
Researchers from Harvard and MIT noted in a recent report that “Approval spikes occur at the end of each calendar month,” and before the “end of the year in a kind of ‘desk-clearing’ activity.”
Don’t Let Wall Street Trick You Into Running Away From Winning Trades October 22, 2021
So far, this earnings season and the options manipulation we’ve seen is exactly why traders need to know about a volatility crush. Just take a look at Netflix...
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