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Friday is one of THE biggest trading days of the year — the Nasdaq 100 (QQQ) rebalance! — and I’m expecting to see some unusual order flow hit the scanner! Jobs Data Sparks Bullish Rotation Into Beaten-Down Copper Names Markets are getting a lift Friday after the latest round of employment figures edged out analysts’ expectations for November. The news has lead to a reversal in a sectors industries materials, with some big orders hitting the tape in a few of our old friends. At the open we saw a nice rotation out of gold names and into some of the beaten down copper stocks with traders going after the out of the money Freeport-McMoran Inc. Jan. 19, 2024 $40 for around $115,000 in call premium! And if that weren’t enough, buyers were also snatching up the Teck Resources Dec. 15 $38.5 strike calls for around $0.40 a contract, doubling to $0.80 in just over an hour — you love to see it! But it’s not just the copper names on Wall Street’s hit list, we saw some bearish flow as we head into the weekend in a few automakers… The QQQ Is About to Dump Its Weakest Stocks Not a lot of people know this, but on Dec. 8… The Nasdaq 100 — also known by its ticker, QQQ — is expected to announce the stocks that will drop from the index… Historically, when stocks get dropped from the index, they tumble pretty quickly… Which can set up some pretty awesome trade opportunities… And here’s what’s really crazy… It’s not all that hard to figure out which stocks are likely to get dumped. Under most circumstances, it’s usually the weakest performers… And I know the weakest 15 stocks in the index… And right here are the 15 weakest stocks in the QQQ… It would not be a stretch to see the bottom six to seven names get dropped and trade lower… My buddy, Jack Carter, loves going short on these types of stocks… In fact, he calls it the “last tradable hack” in the stock market. Biggest Order Of The Day: TSLA Thanks to my News Flow Scanner, we found a HUGE $804K hit on ticker TSLA. If this is your first time seeing this, that’s OK! I love to trade options… And my scanner picks up the biggest institutional options purchases — what I call unusual options activity — every single day. YES — this is a real order someone placed. What can you and I do with this? Follow along! Someone believes this stock is going to head higher. In fact, they were willing to put a ton of money down on it… So there may be a mega move to follow! Pretty cool, right? Want to see more large options purchases on stocks like Tesla, Google and Meta? I’m Also Covering…
Lance doesn’t want the CCP spying on him, so you’ll never find him on TikTok. Same goes for other social media sites, which are filled with impersonators and scammers. You can only find him on his personal YouTube Channel — smash that Subscribe button! https://www.youtube.com/@LanceIppolito And in his private Telegram channel: https://t.me/+-gVwEIwGJhplMTgx |
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