Join me LIVE at 1 p.m. on Monday for my No. 1 stock to buy before the Fed meets again on March 20!
First, I want to be clear that I’m not a gloom-and-doom bear — not at all. And I’m not saying anyone should start pulling their money out of stocks.
But the market is growing more and more vulnerable. And when that happens, we need to be mindful and aware of that.
Apple (AAPL) right now could be the proverbial canary in the coal mine, so it’s crucial that we keep a close eye on it today and in the near term.
It used to be the biggest company in the world by market cap. That’s not the case anymore because the stock has been struggling, and here’s the thing…
Even people who don’t really follow the market but have money in it in retirement accounts and things like that, those people know Apple. When they see it struggling like this, they’re much more likely to start taking money out of their retirement accounts.
Because Apple is a sentiment stock… As AAPL goes, oftentimes, so goes the market.
If it continues to break down, and it’s not looking great at all today as of 11 a.m. ET, that’s going to put even more pressure on the broad markets.
And it’s going to give the green light for traders to really start pounding on this stock that’s already below all its major moving averages.
Today, it’s also falling below its last major support level around $180 a share (the horizontal white line in the chart below), where a lot of stop-loss orders will start getting filled.
Then when you look over at Nvidia (NVDA) and Advanced Micro Devices (AMD) at all-time highs while Apple is struggling, something is not right!
In my opinion, the ongoing AI craze is distorting the entire market, much like the dot-com bubble. NVDA and AMD jumping 10% in a day for no reason other than someone mentions AI, that’s not normal or sustainable — it’s pure euphoria.
And that’s why we must be cautious and keep an eye on Apple!
Be sure to join me live at noon ET TODAY to see what Dirt Cheap Options I’m cooking up next, and get my hitlist of stocks ahead of the weekend!
Roger Scott
Roger Scott Trading
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*This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk.
P.S. I’m Set to Reveal My Top Stock for March
Most traders find it hard to be consistent in the stock market because of one major problem…
They lack systems to detect institutional order flow… in real time.
And institutional order flow moves the markets. In fact, it’s the heartbeat of the market.
Now, if this sounds like you, I have good news…
I say good news because it’s a brand-new way for you to create consistency in your trading as we head into March…
A way that’s helped us win 114 out of the last 120 published trades in the past three months — a 95% win rate on real, issued trades…
The best part?
It alerted us to the No. 1 stock to buy before the Fed meets again on March 20.
And while I cannot promise future returns or against losses, I’ll share the ticker with you during a live trading session at 1 p.m. ET on Monday, March 4.
The profits and performance shown are not typical. We make no future earnings claims, and you may lose money. These trades expressed are from historical backtested data in order to demonstrate the potential of the system.
