Stocks are down across the board Friday morning, taking a breather from six-week and all-time highs. If we’re looking for upside in the major indices, we need to take out Thursday’s highs first.
Thursday’s earnings were mostly better than expected, but we had some very poor reports from the likes of Electronic Arts (EA), which fell 16% and will drag on tech.
Arm Holdings (ARM), Micron (MU) and Texas Instruments have also dipped in the chip sector, so the SMH ETF may struggle today.
This morning, American Express (AXP) and NextEra Energy (NEE) reported and both are down. AXP will have an influence on Financials (XLF), and NEE looks like a potential short at this point.
The report I’m most interested in today is Consumer Sentiment at 10 a.m. ET.
President Donald Trump said he had a good conversation with China President Xi Jinping, which is good news and would be helpful — especially if he doesn’t go through with tariffs.
Trump has been demanding lower interest rates, but consumer prices are still high and tariffs are inflationary. So it’s hard to cut rates in an environment where inflation is still a major problem.
And right now, there are three things everyone’s focused on: China, tariffs and immigration…
I’ll cover all that, my daily hitlist of longs and shorts and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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P.S. No Need to Steer Away From ALL Stocks That Are Tanking
We’re not even a month into the year…
And right now, different market sectors have started witnessing a plunge among a big number of stocks…
Now, when this happens, the only thought that comes to most traders is to steer away from the stocks and sit on the sidelines till they soar again…
But take a moment to imagine how it’d feel to get in on these stocks while they’re tanking… and ultimately ride them to fill the gap higher…
You see, that’s exactly what we’ve been doing…
And, so far, we’ve been able to hit 23 wins out of 32 trades…
All while stocks are plummeting!
Here’s where it gets interesting…
I’ve picked out another tanked stock we’ll be targeting next… and if everything works just as planned, it could be our 24th win.
Naturally, I can’t guarantee wins or prevent losses, but I’ll be in the LIVE room today at 1 p.m. ET to show you my No. 1 tanked stock on my watchlist for free…
Join the Room Here at 1 O’clock
The profits and performance shown today are not typical. We make no future earnings claims, and you may lose money. From 1/19/2024 to 1/2/2025, the result was a 71.88% win rate with an average hold time of 10.03.
