Lions! The Rotation Back Into Tech May Have Just Started, (PLUS STOCK PICK UPDATES).By Gregory Mannarino
At the time I am writing this article, it is 7:20 AM, Monday, June 19, 2017.
Over the past two weeks, I have been talking about a possible rotation back into the tech sector which has taken quite a beating as of late. Well at the time I am writing this article, there indeed appears to be a large amount of cash making its way back into the tech sector, and that means opportunity.
This morning I bought September 130 calls on QQQ, and I will be watching this position closely.
***To see my latest stock picks click here: https://www.traderschoice.net/money-page--stock-picks.html
It is also important to note that the 10 year-year yield appears to be stabilizing, and this is playing into today's rally with the S&P 500 hitting a new record high. It is also important to note that the US dollar appears to be stabilizing and this is further fueling today's rally.
Another factor playing into the market action today is once again the Federal Reserve.
New York Fed. President William Dudley spoke this morning stating that he is confident that the Federal Reserve will indeed hit their inflation targets in the not so distant future.
What Mr. Dudley's comment says to me is once again that the Federal Reserve will continue to prop up this market.
So let's ride the wave higher my Lions!
Gregory Mannarino
Nothin' like a quick market report to start off the week. Thanks Gregory!
Thanks Greg. You're calling it.
You gotta love the Fed's BS jawboning as they speak from their mighty high-horse... another accurate report from Mr. Mannarino (shouldn't it be Doctor Mannarino? All these fraudsters get honorary doctorates all the time!)
Thanks for another insightful post
Greg !
Sure are smashing the metals of late yet some of the miners are up this morning. Maybe an indication of something that is going to play out in the near future?
ROOOOOOOOAAAAAAAR!
Well, the Federal Reserve, absolutely unpredictable?
thanks Greg, the fed will keep the markets levitated no matter what.
130 calls, that is a lot :). Agree, stocks are going higher.
Hello! I had a quick question for you please. When Greg posts his stock picks, he is suggesting to buy a Straddle at the money. right now, that would be about 141. What is he indicating with the 130? Thanks in advance? Actually, I just re-read it and he isn't doing a Straddle but just a call? So the 130 is his strike price? Thx!
I trade whit CFD, so i am no expert in options, 1 contract in option is the same as 100 stocks, so i thought he open 130 contracts, but it seems that is the enter price, out of the money. Please ask also someone else, so you would not be misinformed.
great update, thanks for sharing