What a week it’s been already!
Tech stocks cratered Monday and the Nasdaq entered correction territory as traders got wind the federal government might investigate U.S. tech giants in an antitrust probe.
While the broader market was down just slightly on Monday, it had suffered its worst run of 2019 thanks to the escalating trade war between the United States and China… and now Mexico. At Monday’s close, the S&P 500 was more than 7% below its all-time high, made just over a month ago.
Today, stocks reversed course and screamed higher, thanks in large part to comments from Fed officials that made it seem like an interest rate cut was on the table if the economy slows.
It was clear the bulls won the battle today. If you owned shares of SPY, the ETF that tracks the S&P 500, you would have a 2.2% gain for the day.
After the rout we’ve experienced lately, that probably made investors happy. But I know some traders who were even happier… because they had the opportunity to book 25% in the first 30 minutes of the trading day (and much more if they held on for longer).
Here’s how it played out…
Just before the market opened today, I sent a note to traders saying I was seeing a nice bounce in markets to start the day. With SPY toying with the $277 level, I told them that should SPY base and break above the $277 area, I believed it would be a nice support level to work off of with $280 as an overhead mental resistance level.
And lo an behold, that’s exactly what happened. SPY hit a high of $280.68 intraday, a move of 2.2%.
But that’s not all I had for readers.
I also told them that I planned on applying an inverse head-and-shoulders pattern, ideally with SPY bouncing off support, and looking to buy to open call options:
“As usual on bright green mornings, we want to be suspect of a short-term pullback at or near the open, followed by a base and move back up. This is an inverse head-and-shoulders pattern exactly, and I’ll be using the 5-minute chart as my primary, eyeing support levels… With no high-impact news scheduled for today, unless news strikes stocks during market hours, I am looking for a smooth technical day. Let’s cover resistance and support to put the inverse head-and-shoulders to work.”
That’s what I sent to traders just before the market opened, along with a specific recommendation for a single options trade. And look what happened…
Traders who followed my advice had the chance to book a 25% return in the first 30 minutes after the opening bell. And the profit potential kept rising throughout the day. At last look, it was up 98% and counting.
My goal each day is to isolate one high-probability SPY options trade, which I deliver to traders half an hour before the market opens. Based on my recommendations, people are able to pull in profits like $3,046, $1,560 and $3,347 in one day. Many of them do it in 30 minutes or less.
I call this my “Daily Deposits” strategy, and as you can probably guess, it has generated some buzz.
That’s why I’ve agreed to sit down with Raging Bull’s Jeff Bishop for a LIVE interview on Thursday to discuss how my strategy works.
One secret that many traders don’t know: With the 10,000 or so stocks out there to choose from, following just one stock (or ETF, in my case) can bring a whole new level of ease — and profitability — to your trading. Imagine making just one trade in the morning and then going on with your day — hundreds or thousands of dollars richer than you were when you woke up!
In Thursday’s LIVE event, I plan to show traders how they can do this, including the three simple-yet-accurate indicators that are at the core of my “Daily Deposits” strategy. I will also be taking your questions live so you can get the most out of the experience.
Because I want to answer each and every question you have, we have to limit how many people we let in. And spots are going quick.
So I suggest you reserve yours now to guarantee you get a seat.
America’s #1 Premarket Trader,