Just 1 speech mattered yesterday

President Joe Biden’s big speech yesterday wasn’t the one that mattered.

For traders, the real Head of State is Federal Reserve Chairman Jerome Powell.

If you want to see real power in action, check out the reaction yesterday.

It was a bad morning for the markets – tumbling relations between China and the United States, disappointing earnings from more companies, the prospect of an escalating war in Ukraine…

Not to mention price wars in the EV sector that are going to cut down on profits (even as consumers benefit).

And then Jerome Powell spoke. While he said inflation was still a concern and interest rates are still going to go up, he didn’t throw cold water on the rally, which some were expecting.

He confirmed that the deflationary trends we’re seeing are real.

You could actually see the market turn around in real time.

In contrast, while President Biden spoke a lot about the economy, we have to deal with the reality that he has a Republican House of Representatives to negotiate with.

While the Commander-in-Chief talked a good game about bipartisanship, let’s be real – this is a very divided country and the presidential campaign has already begun.

So I wouldn’t count on much.

If you are looking for the center of real power in the Empire of the Dollar, I’d look less to Congress or even the White House…

But to the headquarters of the Federal Reserve.

Keep Moving,

GET IT DONE

Mr. X’s motto – and since the beginning of Rogue Investing Daily…

He’s been giving picks with returns of 390% in under a year…
442% in less than a month…
and 1,154% in 16 months…and urging subscribers to hold back from any new crypto investments right before the crypto bear market.

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A “Buy and Forget It” Trade For the Long Haul

COACH’S CORNER

“Don’t you just love the volatility in the market when Jerome Powell opens his mouth? His statements today were certainly well-received, giving the current rally a bit more fuel. We ended the day in a very bullish mood. How far we’ll go is anyone’s guess but I expect more upside tomorrow – even if the day is a bit choppy as we near the 4170.00 resistance on SPX. Be very careful about shorting this market too soon regardless of your opinions.”

“Tech stocks seem to be leading the charge so if you’re looking for long positions be sure to add NVDA and AAPL to your watchlist along with ETFs such as XLK, QQQ, TECL, and TQQQ. On the daily chart these have some serious room to run. As always, these are just some ideas to consider. With earnings just around the corner, be sure you’re out before NVDA and AAPL report. Do your own analysis and trade to your plan.”

Cheers,
Chris Hood

WORD ON THE STREET

Powell Boosts Markets, Biden Vs. Billionaires, ENPH Explosion

The Economy’s High King Speaks – Who says America doesn’t have a centrally planned economy? Federal Reserve Chairman Jerome Powell turned around a market decline by saying that inflation is being defeated, though the battle is not over. He also said that “it has a long way to go” and that “these are just the very early stages.” But given Powell’s usual pessimism, that sounds like outright celebration.
Enphase Energy Delivers On Earnings – ENPH came through with earnings of $1.51 per share, well ahead of expectations of $1.24 per share. Revenue was also much higher than expected.

ENPH was up more than 8% in after-hours trading

Ugh, Send This Meal Back – Chipotle Mexican Grill, Inc. (CMG) has seemed like it could do no wrong, even gaining ground during the bear market of the past year. But investors were stunned by a disappointing earnings report – the eatery missed on revenue, earnings per share, and same-store sales. The CEO blamed a “challenging and fluid macro environment.” Sounds like more excuses to me. Shares were down more than 5.1% in after-hours trading.
Biden Calls For New Taxes – President Joe Biden advocated a “billionaire minimum tax” in the State of the Union, as well as a higher tax on corporate stock buybacks and more audits on “wealthy tax cheats.” However, he promised that he would “not raise taxes on anyone making under $400,000 a year.”

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HOT SPOTS: What’s Going on in Geopolitics

Death Toll Skyrockets In Turkey – The death toll from a powerful earthquake that struck Turkey earlier this week has soared past 7,000 people as search and rescue efforts continue. Northern Syria, an area controlled by rebels against the government of Syrian President Bashar al-Assad, was also heavily damaged by the quake, worsening an already tenuous humanitarian situation.
Russia Attacks On Five Fronts, For Little Gain – Eager to show results before the one year anniversary of an invasion that was expected to last only days, Russian troops are attacking on at least five fronts in Ukraine. Despite small tactical gains, Ukrainian defenses are largely holding. Russian troops have reportedly suffered hundreds of causalities – but a major offensive is still expected to be launched in the next three weeks.
China Mad We Stole Their Balloon – American forces have recovered the wreckage from a Chinese spy balloon shot down by the Air Force. The People’s Republic is not amused. “The airship does not belong to the U.S.,” said Chinese Foreign Ministry spokesperson Mao Ning. For those of you following at home, yes, Mao is lecturing us on property ownership.

Chief Investment Strategist, Adam O’Dell, says we’re witnessing a new oil boom that is STILL just in its infancy.

Because Adam says there’s a convergence of multiple geopolitical and economic factors coming together in 2023…that will create a brand-new SUPER BULL in oil…

That could send prices higher than any previous peak in history.

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Adam’s top oil stock of 2023

CUTTING EDGE: What‘s Happening In Tech

MSFT Launches AI Search – Google is hearing footsteps. “It’s a new day for search,” according to Microsoft CEO Satya Nadella. OpenAI’s wildly popular GPT model is now integrated into Bing. Heck, we might actually use Bing now when it comes up, instead of clicking away in disgust.
Ebay Cutting 500 People – Despite the good news about the economy, layoffs continue to hammer the tech sector. CEO Jamie Iannone put the best face on it, saying the move would give the company “additional space to invest and create new roles in high-potential areas – new technologies, customer innovations, and key markets – and continue to adapt and flex with the changing macro, ecommerce, and technology landscape.
Zoom Laying Off Employees – Tech layoffs have come to Zoom. An astonishing 15% of its workforce is getting the axe, about 1,300 people. CEO Eric Yuan blames, you guessed it, “the uncertainty of the global economy.” However, he’s also cutting his own salary by about 98%, so that counts for something.

Let’s hope they at least fire people in person

FOR YOUR CONSIDERATION

Loosely defined it’s anything that gives you a higher probability of winning than losing on your trades. Sometimes it’s referred to as a “positive expectancy system.” That’s a mouthful – so I prefer edge.

People say “the house always wins.” Of course, that’s not literally true – gamblers have to win some of the time or no one would go to a casino. But on a long enough timeline, the house wins – because it has an advantage that means eventually, it will always come out ahead.

How can you extend this principle to your trading? Chris Hood identifies three factors to sharpen your edge and boost your returns.

FINDING YOUR EDGE

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Just 1 speech mattered yesterday

WORD ON THE STREET

Powell Boosts Markets, Biden Vs. Billionaires, ENPH Explosion

Enphase Energy Delivers On Earnings – ENPH came through with earnings of $1.51 per share, well ahead of expectations of $1.24 per share. Revenue was also much higher than expected.

HOT SPOTS: What’s Going on in Geopolitics

CUTTING EDGE: What‘s Happening In Tech

FOR YOUR CONSIDERATION

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