The market ripped , as predicted, yesterday led by the NASDAQ which touched gains of over 3% during the trading day. The bounce comes after fears of the variant continue to wane, and more data is released about the lack of symptoms and risk for the new strain of Covid. A new extension for the debt ceiling was reached by Congress, and the market closed strong right before the bell on the news. Today's market is looking side ways, as Wall Street continues to watch for inflation and rate hike risks .
#Cryptocurrency saw a bounce yesterday, after taking a downward swing last week. #BTC was back up to 52k, but is now down 2%, as continued downward pressure hits all cryptocurrency. ARK's fund manager , Kathie Wood, continues to raise her price forecast of #BTC, projecting prices upward of $500k per coin. However, her prediction for the price was supposed to be this year's end of 2021. Unless some magic occurs, she is once again way off, and it is way the anti-ARK ETF is seeing returns of 100%, while here fund is getting destroyed.
#TSLA still rests in bullish channels, as Elon Musk's fire sell is starting to come to an end. Board members, family, and Elon all contributed to a huge sell of of the stock. There seems to be some upward momentum and I expect the stock to break back up of $1,100 at least by the end fo the week. Look to do a long call spread here, or even a naked.
#MRNA saw a little life late into the trading day, but still is struggling to make gains, as covid fears wane. MRNA also saw most of their new drug submissions, rejected by the FDA. Looking to continue to put on short/theta here, to add on to my short delta position.
#GME is reporting earnings today at market close, and premiums continue to be high. We have two call credit spreads for this month and next, both with overly heavy long delta positions. After the report today, I will reposition based on the news and continue to sell more calls or cut my long call depending on movement.
Good luck trading today. As always, message me with any trading questions or comment below.
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