Rocket Equities & Options Report 03-04-24
This market is pushing higher today, with the usual leader NVDA up 6% at $871 as of about 3pm ET. AAPL and GOOG are not participating; they are down about 2.5% and 2.75% respectively.
Even with NVDA up 6% today, the NQ is still in the red, and the ES is positive by about 7 points.
We get a ton of economic data this week. Powell speaks in front of the House on Wednesday, and then the Senate on Thursday. ADP private payrolls Wednesday. State of the Union Thursday night. Non-farm payrolls Friday morning (wages and jobs etc etc). And a possible govt shut down looming at the end of the week as well.
Gold is continuing to push higher. This move looks to be real and it still may be early in the Gold run. You should have some exposure to Gold in your portfolio here. We will look to possibly add some gold exposure going forward.
Disney is trading higher, up by almost 1.8% at $113.96.
We closed our SPY options trade on Friday for a tiny profit. We will look to make more of these trades as I expect we could get a bit of a choppy market after quite a run and we are looking for opportunities to absorb premium in the options market, even with a VIX relatively low.
Stay tuned for updates!
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