I’ll be live at 1 p.m. ET on Thursday
The market traded anything like the typical first trading day of the week… with Nvidia (NVDA) suffering the biggest single-day loss of any company ever while stocks sank almost across the board.
Which was a big surprise to me because I was expecting more of a consolidation and rotation day than an all-out breakdown, which is what we got…
The market is down again this morning ahead of Factory Orders and the JOLTS reports coming at 10 a.m. ET, which both have the ability to get things moving.
The 10-year note pulled fast one on us by going from a strong upward trend into choppy sideways action.
Crude oil, meanwhile, looks like there’s more downside ahead, but there’s major downside support ahead.
So if I were to consider shorting any energy stocks, I’d only look at the absolute weakest among them that are breaking 20-week lows.
I am still bullish on gold!
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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