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Friday May 26th 2023 Morning Stock Newsletter

YESTERDAYS TRADER OF THE DAY


The 2023 Small Account Challenge start date has been determined.

That’s right, we are hosting another small account challenge for the 2023 trading year. We will be growing a small $1,000 account into over $30,000 by the end of the year. Members have decided that we will be growing our $1,000 account through options trading! We will officially begin the small account challenge Monday June 5th and run it into the end of the year. All trades will be streamed live and all trades will be logged and tracked. You will see exactly what I trade and how trades are reviewed to make adjustment along the way as needed. This will also give us insight on when to start sizing up to lock in bigger profits as the account grows.


⭐️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. 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

S&P 500 futures are slightly lower as investors watch for debt ceiling updates, inflation data https://www.cnbc.com/2023/05/25/stock-market-today-live-updates.html

Yesterdays top penny stocks:

$BMR $NA $TISI $SDA $LEDS $NVDL $JWAC $WTT

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

Market Briefing:

S&P 500 futures ticked lower Friday morning as investors kept an eye on Washington for signs of progress on debt ceiling negotiations. Futures connected to the broad index slipped 0.2%, while Nasdaq-100 futures were flat. Futures tied to the Dow Jones Industrial Average lost 57 points, or 0.2%. House Speaker Kevin McCarthy left the Capitol Thursday night saying a deal had not been reached yet. However, Reuters reported, citing a U.S. official, that the White House and McCarthy are close to reaching an agreement that would raise the U.S. debt ceiling for two years. The report added that most spending would be capped as part of the deal. Treasury Secretary Janet Yellen has warned that the U.S. could default on its debt as soon as June 1 if the debt ceiling is not raised. Debt ceiling negotiations weighed on market sentiment this week. The S&P 500 entered Friday’s session down about 1% week to date, while the Dow lost nearly 2% in that time. The Nasdaq was higher by 0.3%. The S&P 500 and Nasdaq are coming off a strong session, surging 0.9% and 1.7%, respectively, Thursday after stronger-than-expected revenue guidance and an earnings beat from Nvidia fueled a rally in semiconductor and artificial intelligence stocks as well as other technology names. Nvidia shares jumped 24.4% in the session to finish at an all-time high. “With the market rejoicing in Nvidia’s earnings report and guidance, plus a positive report from Main Street’s iconic Best Buy, headlines pointing to a debt ceiling resolution could finally help lift a broader underpinning of the market,” said Quincy Krosby, chief global strategist of LPL Financial. Investors will watch Friday for a crop of new economic data, with specific attention on personal consumer expenditures given its association with the path of inflation. Data on personal income, consumer spending and sentiment and durable goods is also due in the morning. The corporate earnings season is drawing to a close, but a handful of stocks were moving in response to their reports after the bell. Retailer Gap and semiconductor stock Marvell Technology rose more than 12% and 15%, respectively, while Ulta Beauty tumbled 8%.

‘Price bubble’ in A.I. stocks will wreck rally, economist David Rosenberg predicts https://www.cnbc.com/2023/05/25/price-bubble-in-ai-stocks-will-wreck-rally-economist-david-rosenberg.html

$TSLA – Elon Musk’s Neuralink gets FDA nod to start human trial of brain implant https://seekingalpha.com/news/3975338-elon-musks-neuralink-gets-fda-nod-to-start-human-trial-of-brain-implant

$EFTR – eFFECTOR Reports ‘Positive’ Data Updates in Mid-Stage Breast Cancer Trial; Shares Soar After-Hours

$QH – Quhuo’s Homestay Sector Exceeded $1.754M In Sales During Labor Day Holiday

$SPY $QQQ – Debt ceiling likely to be raised, spending to be capped for two years – reports

$PDD – Pinduoduo Non-GAAP EPADS of $1.01 beats by $0.38, revenue of $5.48B beats by $920M

$PDSB – PDS Biotech gains 20% after Phase 2 data for lead asset in head and neck cancer

$BIDU – Baidu rises as CEO says company will launch Ernie 3.5 LLM ‘very soon’

$BIG – Big Lots Non-GAAP EPS of -$3.40 misses by $1.78, revenue of $1.12B misses by $70M

$MAX – White Mountains Insurance Group Launches Tender Offer for Up to 5 Million Class A Common Shares of MediaAlpha


Personal Game Plans

$RBLX is setting up with a possible head and shoulders formation. If we start to see price falling below the uptrend, we can see sellers start to move on in and drop on back down to $38 then $35.78. I will be looking to enter short at a crack of this uptrend for the next leg down.

$SNAP gave us great confirmation yesterday for the daily gap fill rejection to enter a SHORT position. I will be looking for a crack of this uptrend to get short on this trade. Stops would be over the prior swing high with a first target down at $9.20

$AI had a pretty strong red day yesterday. I would like to see if selling momentum can carry over into today and if so, I want to be getting short at a crack of our uptrend. We have room to fall back down to $25 then $22.96

$AAPL is looking good to the long side today as long as we stay above $170. We are currently sitting at very strong support as well as our uptrend that goes back to to the Jan lows. As long as we hold above these 2 KEY levels, I will play CALLS for a bounce back up to $174. However, if we crack this uptrend we could start to see a massive dump on off as we have not fell below this trendline at all in the past 5 months. If we crack the uptrend, I will look to swing some PUT contracts as we have room to drop down to $165 to fill our daily gap.


Earnings This Week


PRE MARKET GAPPERS


Reddit Top Mentions


Market Overview


Largest Short Interest


Economic Calendar


PRIOR DAY TOP GAINERS