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Expect Volatility

the pullback could soon be upon us
 
   
     
   
 
FEB 21, 2024
   
GUY COHEN’S TRADE RADAR
Volatility on the Horizon
 
 
 

Earlier last week one of our VIP members asked whether Tuesday’s wobble was a sign of the imminent pullback.

My answer was that it could be a shot across the bows, but we should give it more time before making a definitive call.

Sure enough, the markets bounced straight back! This was “Trade What You See” in action.

It’s great to anticipate, but only act on confirmations of solid, proven setups. That’s one of our golden rules.

While we're officially outside Earnings Season now, there are still quite a lot of companies to report this week.

The anticipated pullback is getting closer, but we need confirmation. It’s entirely possible that the choppiness of the past week is the opening salvo.

We’ll know more if and when we see other signs like a bearish monorail bar, railroad track or something that telegraphs the market’s intentions clearly.

Right now I do anticipate increased volatility and choppiness in the short to medium term. Following the anticipated pullback I anticipate a further bull run in the context of bullish Shrinking Retracements.
 
Follow the money,

— Guy Cohen

 
 
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GUEST POST: JACK CARTER
PDD: Spotting Wall Street’s Hidden Activity
 

A few months ago, a brand new tool I was testing flashed up an alert.

It was the week after Thanksgiving and stock ticker PDD had just jumped more than 15% overnight after announcing earnings.

Now, I’ve said this before, but it bears repeating: When a stock jumps like that, it’s often an overreaction.

Traders get irrationally happy about something they heard in the earnings report, or maybe the forward guidance.

So they buy, buy, buy.

But then the excitement wears off and the stock starts correcting.

Now, here’s the thing. That didn’t happen with PDD.

And because PDD didn’t start sinking back down… That’s the ONLY reason my alert went off.

Because the tool is not only designed to spot huge Wall Street moves…

But it’s designed to weed out any false signals.

So while most other traders were probably thinking “Darn, there goes another missed opportunity…”

We knew with greater than 80% certainty that PDD would keep on rising..

And that’s exactly what happened.

Just two days later, that call option was up 109.95% option!
 
 

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What I love about this thing is that it does all the heavy lifting.

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It simply spots the big Wall Street moves that are most likely to really move stock prices.

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— The Prosperity Pub Team
 
   
 
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