Stocks Are Rebounding But Watch Out

The markets tried for a real bounce (again), and this time they pulled it off. There was heavy sell-side volume in bonds, which makes me more confident that this bounce will stick. The bid is in! And plenty of stocks had plenty of ground to recover - especially NVDA, which had pared back about 3% of Friday’s losses. That said, some scary moves were shaping up. Here’s what I saw…

TheoTrade Daily Chatroom Schedule for Tuesday, April 23, 2024
9:20 AM to 10:30 AM: I’ll be ringing the opening bell
10:30 AM to 11:30 AM: Professor Jeff Bierman shows you “The Way”
11:30 AM to 12:30 PM: Blake Young has all-new charts for earnings season
12:30 PM to 1:15 PM: Gianni Di Poce is watching the entire market
1:15 PM to 2:00 PM: Brandon Chapman whips up vertical spreads
2:00 PM to 3:00 PM: Tony Rago hunts for profits in NQ NASDAQ futures
3:00 PM to 4:00 PM: Corey Rosenbloom brings you the best range and trend plays

Here’s a Free Trade on the Regional Banks
The financials are in play up and down the market right now. Brandon Chapman dropped a spread in the Live Trading Room the other day on some (slightly) smaller players - regionals, or neighborhood banks. Here’s what he said “Buy +1 vertical KRE 100 (Weeklys) May 31, 2024 $47/$45 put at $0.75 limit.” Brandon’s been doing great lately, seven winners out of eight closed trades. Give this one a shot. 

We’ll talk again soon,

Don Kaufman
Co-Founder, TheoTrade