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Friday May 12th 2023 Morning Stock Newsletter

YESTERDAYS TRADER OF THE DAY

Shouting out ALL TRADERS in chat yesterday for an amazing day in the market!


🌟 Good morning team and happy Friday! 🌟

I hope everyone had a fantastic evening and is ready for another great day ahead! 👏

Yesterday was another fantastic day in the market. We nailed 2 back to back $SPY trades for some amazing profits. This is 2 days in a row that we have had a 100% win-rate on our $SPY trades. 2 of those trades generated over 100% ROI with very little risk.

This is the time to LEARN and EARN team as there is fantastic opportunity in this market!

Remember to always trade smart and lock in profits when you have them. Fridays are the toughest trading days of the week due to the lack of news and volume in the market. Come in, find the best opportunity, and attack it! Let’s end this week strong and profitable, team!

Live Stream is now up and The Pre-market Rundown will begin at 8:45AM. The morning Game Plan Session will start at 9AM followed by Live Market Training/Trading from 9:30AM – 11AM and Private Market Mastery Training from 11AM – 11:30AM 👏 👏 👏

Let’s have an amazing day team.


STOCKS WITH NEWS

Stock futures rise Friday as regional banks try to rebound https://www.cnbc.com/2023/05/11/stock-market-today-live-updates.html

Yesterdays top penny stocks:

$ORGO $DMRC $MFH $MAXN $APYX $MGNI

https://university.alphadaytrading.com/charts/?chId=3088

Market Briefing:

U.S. stock futures were higher Friday as regional banks rebounded and traders tried to end a volatile week on a high note.

Dow Jones Industrial Average futures rose 140 points, or 0.4%. S&P 500 and Nasdaq 100 futures climbed 0.4% and 0.2%, respectively.

Regional banks rose broadly after declining in the previous session. The SPDR S&P Regional Banking ETF (KRE) climbed 0.7%. Western Alliance advanced 1.8%. On Thursday, regional banks dropped broadly after PacWest said its deposits fell sharply last week.

Tesla shares rose 1.7% after Elon Musk said Thursday that he’s stepping down as chief executive at Twitter. He will oversee product at the social media firm.

Investors are also keeping an eye on Washington as concern around debt ceiling negotiations persisted. CNBC reported that a debt ceiling meeting between President Joe Biden and congressional leaders that was set for Friday was postponed to next week.

Investors are coming off a fourth straight losing session for the Dow Jones Industrial Average, which on Thursday slid more than 200 points, or 0.66%. Disney’s decline a day after it reported poor subscriber numbers weighed on stocks. The S&P 500 declined 0.17%. By contrast, the Nasdaq Composite added 0.18%.

Meanwhile, weaker-than-expected wholesale prices data, a sign of easing inflation, failed to shield investors from ongoing concerns of a downturn ahead — particularly as a handful of stocks continue to carry the market.

“It’s a fairly typical story,” JPMorgan’s Jason Hunter said Thursday on CNBC’s “Closing Bell.” “You see the thin leadership, and then at some point the growth decelerates enough to cause a true flight to cash.”

Investors are anticipating preliminary consumer sentiment data on Friday, set to release after the open. Economists polled by the Dow Jones are expecting a May reading of 63.0, which would be lower than the level of 63.5 in the previous reading.

April import prices are also due out before the open on Friday. Economists are expecting a 0.3% rise last month, compared to the decline of 0.6% the prior month.

As of Thursday’s close, the Dow and the S&P 500 are headed for their second negative week in a row, down 1.08% and 0.14% this week, respectively. However, the Nasdaq Composite is on pace for its third straight positive week, up 0.76%.

$WLDS – Wearable Devices Announces Mudra Band’s Compatibility with RealWear and Nreal Smart Glasses

$DRMA – Dermata Therapeutics Shares Rally Premarket on DMT310 Update >DRMA

News from yesterday $SPRY – FDA Advisory Committee Votes in Support of Favorable Benefit-Risk Profile for neffy® (Intranasal (IN) Epinephrine) for the Treatment of Allergic Reactions (Type 1), Including Anaphylaxis

$GETR – MW Getaround stock rallies 114% after company announces deal to buy HyreCar

$TSLA – Elon Musk says he’s picked a new Twitter CEO; Tesla shares jump (updated)


Personal Game Plans

$SPY Game Plan – As we can see, we are in a slight wedge at this time. We currently have downtrend resistance around $414 and uptrend support down around $411.50. I would like to see the $SPY respect this downtrend here in pre-market and fade on down into the uptrend. This is where I will want to be looking for entries to the LONG side. I will plan on holding these CALLS back into the downtrend. If we ever see a crack of the uptrend, you will want to cut your long position and consider flipping short for the next leg down. We could see the $SPY crack the uptrend and drop back down to $410.20


Earnings This Week


PRE MARKET GAPPERS


Reddit Top Mentions


Market Overview


Largest Short Interest


Economic Calendar


PRIOR DAY TOP GAINERS