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Money Monday June 5th 2023 Morning Stock Newsletter. Small Account Challenge Day 1

YESTERDAYS TRADER OF THE DAY

Johnny had a killer day Friday as he made 4x his daily goal on $MMV. Way to crush it Johnny. Keep up the amazing work.


Today marks day 1 of the 2023 Small Account Challenge where we are looking to grow a small $1,000 options account into over $25,000 by the end of the year!

Secure your spot now and get ready to grow these small accounts


🌟 Good morning team, and happy Money Monday! 🌟

I’m excited to be back and eager to get to work with you. I hope you all had an amazing weekend and enjoyed your time with family and friends.

Today marks day 1 of the Small Account Challenge where we are looking to grow our small $1,000 options account into over $25,000 by the end of the year. Let’s have a strong start to the challenge by staying focused, disciplined, patient and by only taking the best of the best trades!

This is going to be a big week in the market, and I can’t wait to see you all locking in some amazing profits!

Live Stream is now up and The Pre-market Rundown and Morning Game Plan Session will start at 8:45AM followed by Live Trading from 9:30AM – 10:30AM and Private Market Mastery Training from 10:30AM – 11:30AM 👏 👏 👏

Let’s have an amazing day team..


STOCKS WITH NEWS

Stock futures are little changed after the S&P 500’s best week since March https://www.cnbc.com/2023/06/04/stock-market-today-live-updates.html

Yesterdays top penny stocks:

 $MMV $LVTX $ALTI $MDB $IOT $CNSP $IHRT $BIG $CC $KOD

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

Market Briefing:

U.S. equity futures were mixed on Monday after a broad-based rally that pushed the S&P 500 to its best week since March and its highest level since August. Futures tied to the Dow Jones Industrial Average added 35 points, or 0.1%. S&P 500 futures were flat, and Nasdaq-100 futures dipped 0.3%. Oil prices briefly climbed more than 1% after Saudi Arabia announced it would further cut output by 1 million barrels per day starting in July. The news followed a meeting of OPEC and its allies, during which the group decided to stick to existing 2023 production targets. On Friday, stocks rallied to end the week following strong jobs data for the month of May. The Dow jumped 2.1% for its best day since January. The S&P 500 rose 1.45%, while the Nasdaq Composite climbed 1.1% and posted its sixth straight weekly advance. “Despite the rising number of leading indicators that indicate a recession coming soon, continued strength in the labor market and stubborn levels of personal consumption are pushing the onset further down the road,” said Mace McCain, chief investment officer at Frost Investment Advisors. “We don’t think the economy can tip into recession until employment weakens materially,” he added. “The unemployment rate has spiked with every decline in job openings going back to the 1950′s but [has] yet to happen this cycle. This trend could continue, hence delaying the recession.” To be sure, investor worries persist over what has so far proven a narrow stock market rally in 2023, led by just a handful of tech stocks that have been carrying the rest of the market, and whether there could be an intermediate-term correction if breadth doesn’t improve. “The big question is whether breadth can continue to improve, which could breathe new life into what had been a very narrow rally,” Yung-Yu Ma, chief investment strategist at BMO, told CNBC. “Recent banking sector developments are also encouraging, and repeated signs of labor market strength are reducing the risk negative outcomes. Monday service PMI numbers and factory orders could help reinforce the positive narrative,” he added.

Things to know before the stock market opens Wednesday:

  • OPEC+ and Saudi Arabia give oil prices a boost.
  • Apple is expected to unveil a virtual reality headset.
  • “Spider-Man: Across the Spider-Verse” won the box office weekend

Oil prices rise after Saudi Arabia pledges more voluntary production cuts https://www.cnbc.com/2023/06/05/opec-oil-prices-pop-after-saudi-arabia-pledges-production-cuts.html

It may be worth keeping some of these low float oil stocks on watch after the PR that Saudi will be cutting production. These are stocks all under 10M in float. $INDO and $HUSA were the last low float stocks to run when oil spiked over $100 per barrel last year.

$IMGN – ImmunoGen jumps 17% after ASCO readout on Elahere cancer drug

$FRZA – Forza X1 Shares Up 80% Premarket After Company Tweeted Friday ‘Get ready for something extraordinary! Stay tuned!’

$CJET – Update: Chijet Motor Shares Surge Premarket Monday Following Nasdaq Listing End of Last Week

$CIR – MW Circor’s stock rockets toward 4-year high after buyout deal with KKR valued at $1.6 billion, including debt

$EVAX – Evaxion Shares Up 43% Premarket After Co Announced Saturday Its Melanoma Trial Met Its Primary Endpoints; Co Said Proprietary AI Technology Pioneer Was Able To Identify High-quality Cancer Vaccine Targets

$DAWN – Day One Biopharmaceuticals Says Tovorafenib Showed ‘Durable Responses’ in Pediatric Cancer Phase 2 Study

$BVXV – BiondVax signs exclusive license agreement for development and commercialization of a novel anti-IL-17 antibody for treatment of autoimmune and inflammatory diseases including psoriasis

$TMBR – Timber Pharmaceuticals Announces FDA Grant Of CARC Waiver For TMB-001


Personal Game Plans

$SPY went on a massive most over the past 2 days, ripping from $417 all the way up to $428.74. We have been breaking through every resistance level with ease and just continue to see the $SPY spike on up. We are coming into some KEY resistance between $428.66-$429.41 and I would normally be looking for a short entry for a drop on off. However, there is no sign of the $SPY slowing down at this time and we have just been ripping right through all resistance levels these past 2 days. If we see a break over $428.66-$429.41, I will be looking for a long entry and play this upside momentum. We have potential to see the $SPY spike on up to $431.69. However, if we ever see the $SPY fail to break and rip over resistance, I would consider a short position for the drop on back down to $426.93


Earnings This Week


PRE MARKET GAPPERS


Reddit Top Mentions


Market Overview


Largest Short Interest


Economic Calendar


PRIOR DAY TOP GAINERS