Rocket Equities & Options Report 05-08-24
Disney Traded lower on earnings this week. We are adding the 2nd half of our position at this entry price. Only add to the position if you actually allocated half of what you would normally spend on our first entry. Disney has traded back to its trend line. We are going to put our stop at $88.97. The biggest risk is that the market is pushing almost all-time highs right now, but this might be a max pain area for Disney following their recent earnings and I like the set up for a possible bounce at these levels.
Markets have popped on expectations that we may actually get a rate cut or two this year. The 10-year currently sits at a yield of about 4.5%.
Gold continues to behave with strength. Oil looks like it could be forming an AB=CD formation that could bring it back down to the $60 range; we will see how it trades as it comes into the recent lows of the $70 area.
TSLA looks like it’s heading lower again after a head fake higher. The recent rise in TSLA following their earnings from $138.80 to $198.97, which stopped us out of short, was a 43% rise in the stock, yet only a .382 retracement of the downtrend that started at the first of the year. TSLA looks to be on its way lower and we may look for another short entry depending on the volume and if we get any further spikes higher.
Buy our 2nd half of Disney equity position. Disney is currently trading at $105.73. The stop for the entire position will be $88.97. Our entry price will now be an average of $102.25.
I came back on the air for the first time today in a month. I found out in late March that I had a brain tumor, and thankfully it was benign, and they just had to go in and get it out, and surgery went well, and I’m looking forward to getting back on-air full time in the next few weeks as I continue to make a full recovery. Quite a shock but feeling very thankful that I’m on my way to make a full recovery.
Here is a link to the clip from this morning's on-air interview with Jacob if you’d like to check it out. Every day is precious, take nothing for granted in life and enjoy each day. As my dad says, “yesterday's gone, tomorrow is not here yet, what are you doing right now?!”
https://youtu.be/hiQ9JjGt-Kc?si=EJi2L2ZNTjk6eNxp
Have a great day and stay tuned for updates!
Long 1/2 position in DIS at $98.75. We are adding a 2nd half to this position today at $105.75. Our average entry price will now be $102.25. The stop will be $88.97. DIS is trading at $105.75.
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