NASDAQ Is EXPLODING: What You Need To Know!
In a Nutshell
NASDAQ surged 3% to record highs as QQQ hit new peaks, while Meta jumped 11% and Intel rallied despite massive losses and 44% downside risk. Markets remain irrationally exuberant amid high oil prices and a 59% chance of another Fed rate hike on October 28th. The speaker warns against overleveraging at these levels and stresses taking profits or staying lightly positioned to capitalize on potential pullbacks.
These notes were generated by AI and may contain inaccuracies.
Markets ended with NASDAQ closing 3% in the green, reaching one of the highest closing levels. QQQ closed at one of the highest levels when viewed on the daily timeframe. The NASDAQ ripped from lows of 700 late last week to now trading at highs of 744.
The speaker poses the question of whether viewers are buying more at current levels or beginning to take profits in preparation for a market correction. BTC pushed higher with markets during the day, then began trading sideways during normal trading hours. When markets closed and overnight hours began, BTC pulled back, leading to a sell-off on MSTR. Crypto action predominantly occurs overnight, creating challenges for shorting pullbacks that happen during non-trading hours.
Meta ran up 11% based on a new price target, adding over $180 billion of market cap value. Intel moved from recent lows of $88 to $122. The speaker notes that Intel is fundamentally overvalued with 44% downside potential, trading at a PE ratio of 56 times earnings with a net income of negative $11 billion. The company loses money every year yet continues ripping higher, which the speaker attributes to momentum trading and irrational markets.
"There is no question that markets can remain irrational longer than we can stay solvent."
The speaker advises against being overleveraged at overbought levels.
A new weekly Weeble challenge is being launched. Weeble is the trading application shown on screen that the speaker has used for years. Through a partnership, depositing $100 earns 12 free fractional shares. Starting this week, a weekly $1,000 giveaway will be hosted. Signing up through the first link in the description and making an initial $100 deposit automatically enters participants in the giveaway. Participants are encouraged to join the free Discord (second link in description) where the focus is on encouraging healthy trading habits including taking profits and managing risk. The weekly $1,000 giveaway starts immediately.
Despite the strong rally, underlying issues from last week and recent months remain present. Diesel prices are at some of the highest levels, and oil prices remain incredibly inflated. Markets panicked last week but today appear unconcerned. There is a 59% probability that the Federal Reserve will raise rates again at the next Fed decision on October 28th. The speaker questions whether the current push higher will result in more of a rally or a sharp correction.
The speaker emphasizes not putting yourself in positions you cannot manage. Being invested in the market is acceptable, especially for long-term positions, but investors should avoid taking more of a position than they can handle. Being lightly invested allows taking advantage of better deals if markets pull back. The speaker invites viewers to join daily live sessions through the LPP live session link in the description, available for $1.10 per day. The speaker expresses excitement about following market developments and welcomes participants to the $1,000 weekly challenge.
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