WARNING: BAD RETAIL REPORT IS GOOD NEWS?!?
In a Nutshell
Markets opened flat after weak retail sales data, which markets interpreted as bullish because softer consumer spending reduces the odds of Fed rate hikes. The speaker booked $3,000 shorting Coreweave after it gapped overbought and broke key support, and he warns against forcing overnight shorts while the broader tape remains bullish above its moving averages. He advises waiting for confirmed reversal signals rather than fighting the uptrend.
These notes were generated by AI and may contain inaccuracies.
Nasdaq market showed conflicting response to today's retail sales report. Markets opened slightly positive and are currently up 0.1%, teeter-tottering at break-even. The S&P 500 is trading at all-time highs on Friday, with potential for markets to rally to end the week strong. Markets have been incredibly bullish and elevated throughout the week. Do not fight the trend if it remains rational and bullish.
Nasdaq is currently testing an oversold range, with potential to break support and move into negative territory. The speaker is up $1,700-$3,000 on the day across open positions, with Micron remaining open and subject to risk.
Coreweave was the most efficient trade of the day, gapping up and becoming overbought - a preferred setup for overbought reversal plays. The speaker opened a short position, added more when direction became favorable, and began taking profits at pre-market support range. The trade generated $2,300 in 10 minutes initially, then reopened as support at 105 broke with 700 shares added, bringing the total to $3,000.
Coreweave is in an oversold range and hasn't broken below the 100s since reporting earnings and gapping up. Breaking below 100 could lead to a significant gap down. Shorting carries greater risk and is not recommended for beginners, with education available in the LPP lesson library.
The speaker offers access to today's 30-35 minute live trading session for beginners considering joining LPP. Interested viewers can message via Instagram (linked in description) requesting to watch the session before joining, specifically mentioning they've never watched LPP live sessions before.
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