Stock Market Trading Notes | 07.16.23

Stock Market Trading Notes | 07.16.23 | Simplify Wall Street

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EARNINGS SEASON

Upcoming Earnings:

• $TSLA $NFLX July 19th

• $MSFT, GOOGL, $AMZN the following week.

General Thoughts:

Although I may be wrong, I see an opportunity for this to be an absolute upside ripper earnings.

$TSLA & $NFLX will set the tone for big tech.

If I were prepping for my next swing trade, I would look for some profit-taking a day or two after $TSLA earnings. There may be a positive response to the news early in the week, but in theory, if we close this week above 4550 /es, there may be no dip to buy going into next week.

If that were the case, I could not be bullish on the market going into the first week of August if $MSFT is already trading at 380 and $TSLA at 350.

—

Why?

• New month

• re-balancing

• In a very high-supply area

$PLTR - Alerted our bullish stance at $13 and $16. This last traded above $17 but is still stagnant.

• My thoughts on $PLTR is to hold this as long as history seems to repeat itself.

• Summer 2021 After $TSLA, $GOOGL $SPY all had monster runs, the small caps followed as big tech continued its downtrend.

• As long as $12 holds, the target is $24.

• This equity swing trade was alerted a few weeks ago.

If you are in our premium chat, you know we also hold this company in our investment portfolio.

If you want to learn more about how I integrate futures trading and options trading, read The Power of $SPY

$TSLA - We were bullish at $235-$240 in the last week or so. 1st Target was 260, 280, and with earnings coming, the target is 330.

• We alerted call options that closed a little over last week, +30% last week.

• Will remain bullish as long as 260 holds on the downside

$NFLX - News revealed that Netflix will make 40 video games this year.

This makes me think that the company will issue forward guidance even if they miss revenue and sales numbers.

• When a company provides forward guidance during earnings, it offers projections or estimates about its expected future financial performance.

• Forward guidance aims to provide shareholders, investors, analysts, and the broader market with insights into the company's expectations and outlook for the upcoming quarters or fiscal year.

$MSFT - I will wait to enter after we see how $TSLA and $NFLX turn out.

We were bullish at 330 and sold 90% of our position at 348 and 350.

$SQ - announced our entry in our Premium Chat at $66. Stock is now trading near $75.

• As long as 60’s hold, I am looking for $80-85 next.

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Trade safely,

Disclaimer:

This newsletter is not trading or investment advice but for general informational purposes only. This newsletter represents our personal opinions which we share publicly as a personal blog. Futures, stocks, and bonds trading of any kind involve many risks. I guarantee no profit whatsoever, and you assume the entire cost and risk of any trading or investing activities you choose to undertake. You are solely responsible for making your own investment decisions. Owners/authors of this newsletter, its representatives, its principals, its moderators, and its members are NOT registered as securities broker-dealers or investment advisors with the U.S. Securities and Exchange Commission, CFTC, or any other securities/regulatory authority. Consult with a registered investment advisor, broker-dealer, and financial advisor. By reading and using this newsletter or any of my publications, you agree to these terms—and screenshots used here courtesy of Tastyworks, Think or Swim, and Webull. I am just an end user with no affiliations. This blog's data, quotes, and information are from publicly available sources.