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June 26, 2024

The Tech Sector May Have Lost Its Mojo
By Don Kaufman

Tech stocks (especially a certain $3.1 trillion chip company) have been leading the market to all-time high after all-time high for weeks now.

But, as I sit here at the cash close today, I’m watching S&P 500 futures get absolutely rocked with volatility… and <boom> all the action stops and the S&P 500 is massively unchanged. 

So I’ve got to say tech is probably played out right now. That volatility I was watching a minute ago was NVDA. But the bid under it just isn’t enough to move the markets like it did just a few weeks ago.

TheoTrade Daily Chatroom Schedule for Thursday June 26, 2024
9:20 AM to 10:00 AM: I’ll be getting us ready for the opening bell
10:00 AM to 11:00 AM: Blake Young will share his charts with you
11:00 AM to 12:00 PM: Professor Bierman makes you a better trader
12:00 PM to 1:00 PM: Brandon Chapman takes on Triple Threat Thursday
1:00 PM to 2:00 PM: Gianni Di Poce looks at the entire market
2:00 PM to 3:00 PM: Tony Rago finds targets in NQ charts
3:00 PM to 4:00 PM: Corey Rosenbloom scouts trend and range plays

Make Sure You Get My Updated 92-Stock Watchlist
I’m diving in headfirst - I’m in the frothiest, craziest market in years going bullish on AAPL, NVDA, MSFT, and a lot more. Some of the most expensive, nosebleed-high stocks are putting cash in my pocket every week. 

I’m not buying them - that’d really be crazy - but I’m trading them, risking a fraction of what I could be. You can get the entire list of stocks I’m using right now and see how this is done right here.

Brandon Chapman’s Getting Radioactive Here
He handed out a Cameco trade in the chat today. If you don’t know, this is probably the biggest uranium company in the world, and one of the top three producers. 

No one’s touching anything risky though - this is a nice spread trade: “Buy (+1) vertical CCJ 100 (weeklys) Aug 2 2024 $52/$54 call at a limit of $0.70.” Give it a shot.

We’ll talk again soon,

Don Kaufman
Co-Founder, TheoTrade