Rocket Update 03-12-24
ORCL spiked higher last night following their earnings on a strong forecast and blacklog of orders and performace obligations. The stock is trading near $128.50 as of 8:45am ET.
ORCL is trading right near all time highs. This market will have some volatility this morning digesting a hot CPI number.
Place an order to close out or option trade at $1. We will need a move back to about the $124 range to get executed but sometimes equities rip one way or the other when markets open and we find out where supply equals demand. Get your order in just if the equity rips lower on the open.
We got the CPI numbers for February at 8:30am and it was a bit hot, meaning when we get the new dot plot next week we could see the Fed possibly trim how many cuts they are looking for this year. Equities are actually trading higher on a hot inflation number, as it seems like it is no longer the case that good news is bad news.
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