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Money Thursday June 8th 2023 Morning Stock Newsletter. Small Account Challenge Day 4

Today marks day 4 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!

I am currently down about $54 on the small account as we had 3 small losers on the $SPY yesterday. Market has been very choppy this week and options are disconnected from the underlying stock. It has been a challenge trading $SPY and $QQQ options this week but we are sticking to our plan and managing our risk properly!

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


🌟Good morning Team and Happy Money Thursday!🌟

I hope you all had a wonderful evening and are ready for a successful trading session today. Yesterday was an AMAZING day in the market. We absolutely crushed it and saw some amazing profits inside of profits chat. Keep up the amazing work team and keep this momentum going. As always, remember that quality trades are the key 🔑 to success in the market. It is important to stay focused and disciplined 🧠 and let the best of the best trades come to us! So let’s all approach today’s trading session with a positive attitude and a commitment to taking only quality trades 💪

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 are little changed Thursday as rally pauses https://www.cnbc.com/2023/06/07/stock-market-today-live-updates.html

Yesterdays top penny stocks:

$MGOL $FARM $YEXT $PBLA $AVTX $SFIX $BAER $CJET $CHEK $TYGO

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

Market Briefing:

Stock futures were flat on Thursday, as investors awaited the next market catalyst and digested the recent rally in stocks.

Futures linked to the S&P 500 ticked lower by 0.04%, while Nasdaq 100 futures inched down by 0.02%. Futures tied to the Dow Jones Industrial Average shed 30 points, or 0.09%.

GameStop
shares tumbled roughly 19%. The video game retailer fired its CEO Matthew Furlong and appointed Ryan Cohen as its executive chairman.

The S&P 500
and Nasdaq Composite
are coming off a down session. The broad-market index closed 0.38% lower, while the Nasdaq dropped 1.29%. The 30-stock Dow
was the outlier, with a gain of 0.27% or 91.74 points.

“We’re in a bit of a news vacuum: Earnings are done, the debt ceiling is resolved, and we’re waiting for the Fed next week,” said Barbara Doran, CEO of BD8 Capital Partners on “Closing Bell: Overtime” on Wednesday. “It’s widely expected they will pause, but it’s really going to be important what their guidance is and what the [consumer price index] number on Tuesday will be and the [producer price index].”

Indeed, investors seem to be in a holding pattern while awaiting the Federal Reserve’s upcoming policy meeting on June 13 and 14. Economic signs suggest that inflation is inching down, even as it remains above the central bank’s 2% target. Wage growth, for instance, is slowing. Wages rose 5.3% on an annual basis in May, down 0.4 percentage point from April, according to data from Indeed. Markets are pricing about a 66% chance that the Fed keeps rates steady at the next meeting, according to the CME FedWatch Tool.

More economic data will arrive on Thursday morning, with weekly jobless claims and wholesale inventories due.

Things to know before the stock market opens Wednesday:

  • Markets take a breather as investors await the Fed’s meeting next week.
  • Millions of Americans still face dangerous air quality due to Canadian wildfires.
  • Former President Donald Trump could soon face indictment on federal charges.

$PBLA is a recent reverse stock split that saw some end of day volume yesterday. This could be our next big time mover if we ever break over $8 .50 resistance. This is a back burner sleeper play at this time and should be on HIGH WATCH.

No news or filings on $BAOS . Very low float stock getting some attention this morning. This stock has ran big in the past and very well could run big today as long as we hold over $10 .00

$ACON – Aclarion Announces Statistically Significant Nociscan® Cost-Effectiveness Abstract Presented at ISASS Annual Meeting

$SMTC – Semtech Fiscal Q1 Non-GAAP Earnings Drop While Sales Increase; Shares Surge After-Hours

$ONFO – Onfolio Holdings Provides Acquisition Strategy Update and Further Outlines AI Strategy on its Corporate Website

$REVG – REV Group Q2 Adj. EPS $0 .35 Beats $0 .18 Estimate, Sales $681 .20M Beat $580 .46M Estimate

$ALYA – Alithya Group Q4 Adj EPS $0 .04 Up From $(0.06) YoY, Sales $136 .22M Up From $94 .69M YoY


Personal Game Plans

$SPY Game Plan:

We have a very clear double top on the daily with slight bearish divergence on the 4 hour. We also have this multi week uptrend we have been bouncing off of since May 23rd. Normally I would be looking to take the $SPY long off this uptrend, but since we are coming off a daily double top formation, I want to wait for a crack of this uptrend to get short. We have potential to fall down to $423 to fill the daily gap


Earnings This Week


PRE MARKET GAPPERS


Reddit Top Mentions


Market Overview


Largest Short Interest


Economic Calendar


PRIOR DAY TOP GAINERS