loader image

AAPL, AMZN, META Reporting as Chips Melt Down, Plus, Bonds, Volatility and My Morning Hit List!

by | Feb 1, 2024

The Federal Reserve said it’s not cutting rates now but even more important, Chair Jerome Powell also came down on the side of not cutting in March in post-meeting comments Wednesday.

That could of course change in the future.

But for now, if you’ve been following along here, then this shouldn’t be a surprise. The markets sold off on this news Wednesday and we’re getting a bounce this morning — but I’d be careful until we see confirmation that buyers are stepping back in.

Though, it is interesting that the bond market (TLT) is holding up fairly well. 

I almost shorted it Wednesday because I believe it’s about to start coming. What I’d like to see first is it break the 200-day moving average. If that happens, I’ll probably go short. 

We have some major earnings coming today with Apple, Amazon and Meta (Facebook) all after the close today, so we could see some fireworks and volatility.

Apple is at its 100-day moving average and if it breaks below, it’s time to start getting nervous. There’s something I’ve mentioned before that I really don’t like about Apple right now…

I’ll cover all that and more in this morning’s “Premarket Must Watch” video!

Roger Scott
Roger Scott Trading

Follow along and join the conversation for real-time analysis, trade ideas, market insights and more!

P.S. Check Out the Price of These Options

Imagine if you invested $10K into the S&P 500 a decade ago.  

Today, you’d be sitting on a little more than double that amount. 

Not bad, right? 

But what if I told you thanks to a newly discovered “pricing mismatch,” you could have beaten the S&P 500 by 41 times over that exact same time period!

Without trading a single stock! 

That’s because a stock doesn’t need to make big moves up or down to set off a big rise in its calls or puts, IF you know what stocks to trade.

Check Out My Dirt Cheap Options Summit


WRITTEN BY<br>Roger Scott

Roger Scott

What to read next

Have any questions? Contact Our Customer Service Team

Share via
Copy link