Before we begin, a quick reminder that Monday is a holiday so the market is closed. But never fear because Crush the Open will return at 9 a.m. ET on Tuesday to get the trading week rolling!
We CRUSHED another earnings trade for you guys last week, knocking DraftKings Inc. (Nasdaq: DKNG) out of the park!
Three straight weeks, we’ve covered some amazing earnings trades for you guys on Monday’s episodes of Crush the Open. Will we get them all right? No chance…
Anyone who tells you they’re always right about the stock market is a liar. While we toot our own horns on these winning trade ideas we’ve shared the past few weeks, something you can count is we’ll also be here to face the music when we’re wrong — count on that.
And as always, there is inherent risk in trading, so trade at your own risk and never invest or trade more than you’re willing to lose!
Now as for current market conditions, even though we’ve seen some selling to end the week, we’re still in “BTD” mode — buy the dip — in my mind. I believe we’ll close out the month of February strong after this pullback, and the big number to watch is the jobs number for the month of February, and that could be the beginning of some craziness.
From a more long-term perspective…
The spread between the 2-Year and 10-Year Treasurys is inverted by 80 basis points, which means the shorter-dated Treasury is yielding 80 more points than the 10-Year.
That’s typically thought of as a recession warning, and we haven’t seen it that inverted since the 2008 financial crisis.
This doesn’t mean much as far as short-term plays we look at here on Crush the Open — like DraftKings earnings this week don’t care about this.
But it is more of a longer-term, macro thing to pay attention to in the months and quarters ahead.
On Friday, Lance and I covered a trade he’s into in energy company Liberty Energy Inc. (NYSE: LBRT)… We also covered a couple of teachable moments about working that bid/ask spread in your options trades, and why you shouldn’t try to be too cute in timing the market by stepping in front of a freight train trying to short a high-growth stock that’s exploding higher.
So check out this week’s episode of Crush the Open up top and LFG!
Are there any topics you’d like to see me cover or questions you’d like answered? Send me an email at jeff@joyofthetrade.com with your trading questions and I may cover them in a future video. You can also join my free Telegram channel, where I share market insights real time throughout the week, articles, videos and more!
*This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk.
P.S. How the Energy Crisis Could Affect You And Your Wealth
I said this back in November: “We are set to feel the worst of the ongoing 21st-century energy catastrophe as early as this winter.”
And have you seen the news recently?
We’re in the middle of winter… almost two full months into 2023…
Saudi Arabia recently and unexpectedly increased oil prices for its customers in Asia, the European Union and the United States…
Seeeeeee, I told you so!!
Look, what if I also told you there was a way to potentially capitalize on high energy prices and persistent inflation?
For a limited time, I’m sharing a free, over-the-shoulder demo of a “Two Step” technique smart investors can use to hedge during energy supply shocks…
And I’m giving out my No. 1 energy play 100% free, just for watching.
It’s a short-but-crucial presentation if you want to financially survive this winter — go here to watch it!
