- Simplify Wall Street
- Posts
- Stocks and News on Wall Street - Midweek Read - 06.13.24
Stocks and News on Wall Street - Midweek Read - 06.13.24
Simplify Wall Street
June 13, 2024
In partnership with
Table of Contents for 06.13.24
See what’s new on Wall Street 😉 📈 🏢
But first… A couple of mentions.
A newsletter recommendation for readers:
The Take Off
Created for Silicon Valley founders, investors, and professionals.
The TakeOff analyzes emerging market trends, venture capital flow, and actionable insights.
It’s a free newsletter read by founders and professionals working at Google, a16z, OpenAI, and more.
One-click Sign-up here to get ahead!
Our Sponsor
Use AI as Your Personal Assistant
Ready to embrace a new era of task delegation?
HubSpot’s highly anticipated AI Task Delegation Playbook is your key to supercharging your productivity and saving precious time.
Learn how to integrate AI technology into your processes, allowing you to optimize resource allocation and maximize output with precision and ease.
Temperature Check |
Free Discord (Ask Us Questions)
YouTube Education (Stop Blowing Your Money)
Click to start your Beehiiv newsletter.
(Affiliate links. I may receive a small commission at no extra cost to you. This helps support my work. I only recommend products I’ve used or love.)
Key News + Explanations
Fed Recap
“Not to eliminate the possibility of hikes, but no one has that as their base case,” Powell said. “No one on the committee does.”
— Sarah Min
On Wednesday, the Federal Reserve projected only one rate cut for the remainder of 2024, down from its March forecast that called for three reductions.
Here are the Fed’s latest targets:
Made simple:
It will take time for rates to be lower.
One rate cut is barely a scratch to what needs to be done. If they cut in September, if you want to buy a house instead of paying 7%, you will pay a 6.75% interest rate.
Point is… you aren’t really saving money until we get to 5-5.75%
Market Movers + Analysis
$AVGO - Broadcom Inc is up (+$218) dollars after market hours.
S&P500 + NASDAQ
Key Note - Many pops are being sold during intraday trading hours
$GME gap up early on +$5, but then goes -$7
$SMCI gap up early +$25, but then closes at + $7
$ENPH gap up early +$10 on good news, Closes near flat on the day
This is occurring in various companies. This characteristic is not a healthy bullish movement. It doesn't mean stocks can’t go up, but it does mean that when we do sell, it will not be a light sell-off.
The key bullish activity would be days of range trading above key support levels.
Profits
Stock Market Trading
Bought $ENPH for $150. Sold for Profit at $310. + 100% return
$CRWD for $100 and sold for a profit of $390. Nearly a +400% return.
EQUITY BUYING ALERTS
Stocks that were mentioned in the premium section.
$CHWY Now $22.42 from our $17 support
$SQ saw a high of $84 from our $50 buying zone
$PLTR saw a high of $27 from our $15 level
$BABA saw a high of $88 from our $73 buy alert.
Premium Levels are for paid subscribers.
Subscribe to Unlock Exclusive Investment Ideas & Trading Entries to read the rest.
Become a paying subscriber of Unlock Exclusive Investment Ideas & Trading Entries to get access to this post and other subscriber-only content.
Already a paying subscriber? Sign In
Reply