We’re seeing another monster day in the market — the past five weeks have had amazing options flow… and it just keeps rolling!
Trading has been aggressive and following that “paper,” as the kids say, has led to some fantastic trades in beaten-down tech stocks.
The “hated” Cathie Wood, Ark Invest tech holdings like Upstart are peppering the tape in size right and left.
Shares of the online lending platform are up more than 19% after fellow fintech SoFi soundly beat earnings expectations, strapping a rocket to the whole sector.
When I say these names are “hated,” I just mean they’re some of the most highly shorted stocks in the market...
With the short float over 35% on UPST, when a stock like this sees good news, those bears get their shorts squeezed straight to the moon... and I love it!
The tape might as well be a Cathie Wood greatest hits album.
Senior Strategist Roger Scott, New Money Crew’s Lance Ippolito and Joy of the Trade’s Jeff Zananiri discussed some the biggest topics on Wall Street:
Recession and inflation are still headline-grabbing topics affecting Wall Street… But is that about to come to an end?
Why this has been a great summer to trade, even with all of the negative headlines.
Cathie Wood Ark names are moving right now because greed is BACK on the retail side of trading. Does that mean we’ve bottomed out, or is this a bear market rally?
The Average True Range is a technical indicator that measures volatility by decomposing the entire range of an asset price for that period. Simply put, a stock experiencing a high level of volatility has a higher ATR, and a low-volatility stock has a lower ATR. The ATR may be used by traders to enter and exit trades, and it’s a useful tool to add to a trading system. It was created to allow traders to more accurately measure the daily volatility of an asset by using simple calculations. The ATR does not indicate the price direction — rather, it is used primarily to measure volatility.
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