“Markets Post Worst First Half of a Year in Decades,” screamed the headline in The Wall Street Journal.
I have to laugh.
This means nothing.
The whole point of what we do is to find ways to win in any market – even if the economy as a whole is in a recession.
And that’s also why we have shorts…
And why we use puts…
And that’s why we find the stocks that are hitting highs even in this trading environment.
I broke down the chart for The Chef’s Warehouse, Inc (CHEF) just a couple days ago. It was in the green midday yesterday but ended up more or less where it started.
It’s times like this when technical-based trading is most important… because it lets you see the opportunities that everyone else is missing.
DON’T MISS CHRIS HOOD’S NEW HOOD TALK EPISODE BELOW ON HOW YOU CAN WIN IN THIS ENVIRONMENT.
Stay in control, stick to your plan, and above all, don’t panic.
It’s times like this when fortunes are made.
Holiday weekend coming up. Let’s leave it all on the field..
Get some in depth analysis of how to day trade this market and what those who are interested in long-term LEAPs options should be looking for.
Where is SPY going? Can we really know and does it ultimately matter to someone who follows their trading rules?
Nothing here at Rogue is just talk. We always back it up with action… and here Chris Hood will prove it.
WORD ON THE STREET
Retreat From Snake Island, Worst Market In 50 Yrs, New SCOTUS Justice
Russia Withdraws From Snake Island – In what Russia is calling a “goodwill gesture” but the rest of the world is calling a defeat, Russian forces have been withdrawn from Snake Island, dealing a blow to Russian control over the Black Sea. The move will help Ukraine export food and other goods, loosening Putin’s stranglehold on the Ukrainian economy. Snake Island became immortalized early in the war when Ukrainian defenders told Russian attackers to “f*** off.” The heroes were then honored posthumously by President Volodymyr Zelenskyy… which became awkward when it turned out they were still alive and had been taken prisoner.
S&P 500 Down 21% So Far – It’s the worst market performance since 1970, as the S&P 500 is down 21% through Thursday. Investment grade bonds have also posted the worst start to the year in history, down 11% so far.
Supreme Court Limits EPA Regulations – In a shot across the bow to what has been called the administrative state, the Supreme Court ruled that the EPA does not have a large amount of authority to regulate greenhouse gases. “A decision of such magnitude and consequence rests with Congress itself, or an agency acting pursuant to a clear delegation from that representative body,” wrote Chief Justice John Roberts.
Biden Appointee Joins Conservative Court – While conservatives still hold the majority on the Supreme Court, President Joe Biden’s nominee is now in office. Justice Ketanji Brown Jackson became the first African-American female on the nation’s highest court. However, she is replacing liberal Justice Stephen Breyer, who is retiring. The balance of power remains the same and more controversy is inevitable.
HOT SPOTS: What’s Going on in Geopolitics
- “As Long As It Takes”: Call it a profile in courage or economic suicide, but this is something we’re just going to have to deal with. In response to a question about how long Americans will need to tolerate high gas prices, President Joe Biden responded, “As long as it takes, so Russia cannot in fact defeat Ukraine and move beyond Ukraine..
USA Missile Test Fails – Russia, China and even North Korea claim they are developing “hypersonic” missiles. However, the United States suffered a black eye when a recent test of “Conventional Prompt Strike” failed. Nontheless, the Pentagon said it “remains confident that it is on track to field offensive and defensive hypersonic capabilities on target dates beginning in the early 2020’s.” But we’re already in the early 2020’s…
At Least Venezuela Is Doing Well – The developed world may be facing a recession, but at least the Bolivarian Republic is booming. The Venezuelan economy is having its best economic performance in 15 years, with GDP expected to grow 8.3%. Countries like the United States have reopened to Venezuela as they attempt to cut Russian oil and natural gas out of the world market.
CUTTING EDGE: What‘s Happening In Tech
- TecnoTyranny Of The TecnoKing – Elon Musk is not a fan of working from home. Tesla is reportedly using automated emails to warn employees that they have an obligation to come into the office full time. “As a reminder, all employees are expected to be back in the office, fulltime,” it reads. Cold, bro. Cold.
♫ I’m King Of The World, On A Boat Like Leo ♫ – Still, you can’t keep Elon Musk down. The FCC just gave SpaceX a license to provide Starlink satellite internet to vehicles in motion. That means airplanes, RV’s, and yes, yachts and boats. SpaceX is reportedly already working with Royal Caribbean to make it a reality.
Turns Out There Is A Cure For A Broken Heart – Researchers at the University of Aberdeen are using a treatment regimen for fixing a broken heart. No, seriously – the pain from a breakup or a personal loss can lead to actual heart damage. It’s called Takotsubo cardiomyopathy, and is responsible for as many as 1-2% of all heart attacks. The treatment regimen includes exercise and psychological therapy.
FOR YOUR CONSIDERATION
“Did you know that over 30 stocks just printed 52-week highs?
When everyone is in defense mode, you won’t see many investors looking.
That is, of course, until it’s brought to their attention…”
There’s always a bull market somewhere. But you have to know where to find it. Corey breaks down the numbers and uncovers what could be a hidden gym.
That said, investors need to be looking for the right signal before they move in… find out what he’s looking for
The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. Please see our Terms and Conditions for more information