At 2 p.m. ET TODAY, I’m presenting my Apex Indicator — and giving everyone the No. 1 Apex Stock that I’m actually short on right now!
Hey, Graham Lindman here…
If you’re wondering why stocks are selling off sharply this morning, it’s on the heels of the latest Consumer Price Index inflation data.
CPI month over month came in at 0.3% versus estimates of 0.2% for January.
The more important number is year over excluding food and energy prices, which came in at 3.9% versus expectations of 3.7%.
Stocks immediately sank for a few reasons:
- Inflation is a bit stickier than the market was hoping.
- Interest rates will need to stay high.
- Debt will continue to be more expensive because of that.
Brace for impact as all eyes are on Big Tech right now. Nvidia is trying to hold up but Dell remains a thorn in my side. Progressive, which we entered during our first Apex Indicator Masterclass on Monday, is also holding up strong.
If we happen to fill the gap higher, that would be a super bullish sign because almost everything is down this morning.
I’ll be live again at 2 p.m. ET to present my Apex Indicator — and give everyone the No. 1 Apex Stock I’m actually short on right now just for showing up!
A Dice Roll for Earnings Today
If you’re a dice roller, take a look at Robinhood Markets Inc. (Nasdaq: HOOD) for earnings after the close today.
They have the third largest Bitcoin stack for all publicly traded companies, and thanks to a new rule that went into effect on Dec. 13, companies can now report the “fair value” of Bitcoin instead of the lowest value.
That’s why CleanSpark Inc. (Nasdaq: CLSK) jumped so much on earnings this week — all of the Bitcoin the company previously reported under the lowest possible price got priced at fair market value, increasing the company value immensely.
I’ll be watching options order flow too to see if we get any extra action, but I wanted to make sure to share this if anyone is looking for an interesting earnings trade today.
That’s all for now… Be sure to join me LIVE at 2 p.m. ET TODAY!
Graham Lindman
Graham Lindman Trading
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
