The broader indexes were mixed Friday morning, with the Nasdaq sliding on Snap’s disappointing earnings report.
Shares of the social media company plummeted 25% in extended trading Thursday following a miss on both earnings per share and revenue estimates. Snap also revealed it sees weakening revenue growth ahead and plans to slow hiring.
Thursday’s Philadelphia Fed Manufacturing Index came in at -12.3, well below estimates of 0.4 and June’s number of -3.3.
The index serves as an indicator for manufacturing conditions in the U.S. and while the most recent numbers aren’t good, it could mean we’re bottoming out.
It’s been another amazing day of trading — how long can the markets keep this up? I don’t have a crystal ball, but this order flow is just incredible, and our strategies have been crushing it!
Wins have been piling up in names like NortonLifeLock, Amazon, World Wrestling Entertainment and Las Vegas Sands, which have all seen big earnings moves so far this season…
But one name that’s been slamming my scanners all month long is Snap.
Our Weekly Blitz Alerts strategy has already taken profits on two different trades in the July 22 expiration, $15 strike calls…
And when I thought the flow couldn’t get any hotter, the bulls rocked the Blitz Tracker with another monster options buy, right in front of our amazing New Money Crew members during my Weekly Live Market Update!
Big-money traders snapped up around 8,000 contracts of the July 29, $16.50 call options for a jaw-dropping $1.25 million in premium, just hours before Snap reported earnings after Thursday’s bell!
All I can say is… if you’re not following this flow — what the heck are you doing?!
It’s been one degenerate options play after another… and I LOVE it! Just look at this order flow…
Backtesting allows a trader to simulate a trading strategy using historical data to generate results to analyze risk and profitability before risking any actual capital. A well-conducted backtest that yields positive results assures traders that the strategy is fundamentally sound and is likely to yield profits when implemented in reality.
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*Stated results are typical for given period. Past performance is not indicative of any future results. Trade at your own risk. From 5/23/22 to 7/12/22 on live trades the average win rate is 100%, the average return is 15.3% over a 3 day average hold time.
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*Stated results are typical for given period. Past performance is not indicative of any future results. Trade at your own risk.
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