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July 02, 2024

Tesla and Tech Are Still Taking the Bulls Higher
By Gianni Di Poce

The tech sector, as tracked by the XLK ETF, is up close to 22% over the past six months, beating, by a mile, the 16% gains seen in the S&P 500.

While we’ve seen some compelling signs that the market is ready for new leadership, tech is still presenting problems for the bears. 

That said, I think we’re in the sucker phase of the current rally; bandwagoning, not fundamentals, are powering this thing higher. 

I need to see participation broaden significantly if I’m to be convinced this is sustainable. 

But, for all of that, I’m not ready to switch up to bearish trading strategies yet. There are still breakout setups unfolding, served up on a silver platter. 

And now to Don Kaufman…

TheoTrade Daily Chatroom Schedule for Wednesday, July 3, 2024
9:20 AM to 10:00 AM: I’ll be starting off this short trading day
10:00 AM to 10:30 AM: Professor Jeff Bierman makes you a better trader
10:30 AM to 11:00 AM: Gianni Di Poce moves into the third quarter
11:30 AM to 12:00 PM: Blake Young has the best charts around
12:00 PM to 12:30 PM: Brandon Chapman checks top performers
12:30 PM to 1:00 PM: Tony Rago finds targets in NQ charts
1:00 PM to 2:00 PM: Corey Rosenbloom will make range and trend plays

My Catapult Followers Just Booked Two Massive Gains
I had to close down Catapult to new members today so that we could get down to business with our classes - and start trading. 

We had a pretty good day… Remember, each Catapult is two trades - one small and boring, the other an absolute monster moonshot. Our boring old $10 trade paid 37%, so we rolled that into a TSLA spread we just shut down for around 147% in profits. Like I said, Catapult’s closed to new members right now, but keep your eyes peeled - we’ll reopen it for a little while the next time the market lines up. 

We’ll talk again soon,

Don Kaufman
Co-Founder, TheoTrade