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It’s Off to the Races for This One Gaming Stock

 
   
     
   
 
FEB 21 2023
 
   
Don Yocham
Stocks No Longer Have the Wheel
 

I was talking to trading ace Jack Carter yesterday and he shared this chart.
 

It shows how daily call options volume recently hit a 5 year peak. We spent some time wondering if stocks still lead option prices or whether all this crazy volume we’ve seen of late has given options the reins.

It’s an important question. Especially given all the attention surrounding zero-day to expiry options, or 0DTE.

Traders are building massive positions in options that expire by the end of the day. 

All this focus on extremely short-term positioning is having a profound effect on longer-term volatility measures. So much so, that the VIX Index could be sending out false signals regarding the market’s perception of risk.

It reminds me of a dynamic that develops about every four years in bond markets. Once this dynamic takes hold, treasury markets take a back seat to mortgages, with both markets typically ending up in the ditch.

In any case, I’m going to unpack this with Jack in tomorrow’s weekly “Roundtable” session at 10am ET. 

Commodity expert Geof Smith will also be there, and I can’t wait to talk to him about how drought in the Midwest could spell trouble in cattle markets over the coming months.

These are heady topics. But topics you need to familiarize yourself with as we go deeper into what I believe to be truly unprecedented territory for markets, economies, and geopolitics alike.

“Roundtable” is for everyone so you’re free to attend. Set yourself a reminder for 10am tomorrow and Click This Link to Join.

Take What the Markets Give You.
 
Don Yocham
JEFFRY TURNMIRE  🎥
5PM ET TONIGHT: Join me as I go live for “30 Minutes of Awesome”
 
 
 

We’ll go over the FOMC minutes and the preliminary GDP report that are coming out later in the week. It’s possible they could cause us to retest the purple downtrend line of 2022 that we just broke past a few weeks ago.

Join me this evening at 5pm ET right here.
JACK CARTER
Calling All People Looking For a New Way to Trade
 
 
I’m not signing you up for an overnight shift, or having you pick up extra hours. You don’t need any exotic financial trading…
I want to show you my speedy way of targeting this income, right here, right now. Go here to learn my new strategy now. 
SCOTT WALSH
Ready to Run
  
 
 

The market had a nice long weekend to get itself pumped up again but it overslept instead.

As of this writing, the market is significantly down as earnings from Walmart and Home Depot were cautious. They weren’t awful, but cautious is enough to put the market in a frightened mood.

What are the experts saying?

A recession is back on the table. And a soft landing might have been very wishful thinking. 

What do we do when this happens?

You find the things that have fallen the least. If a sector has been red-hot and stocks in that sector are holding up, you might find a big winner when the market feels good again.

What’s hot right now?

Leisure and Gaming. 

After a horrifying few years, gambling and traveling are back in a big way. 

And what’s holding up during this recent slide?

Churchill Downs. 
 
 

CHDN gives us everything: horse racing, gambling, and entertainment. Who could want more than that?

And it’s now very close to a major breakout point. 

If it shoots above $249.35, one of the hottest stocks in one of the hottest sectors could be ready to run.

Happy trading,

Scott
   
 
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