Rocket Equities & Options Report 06-07-24
We had a blow out jobs number this morning with 272K jobs added in May. Wage growth m/m came in hot at 0.4% and yearly hot as well at 4%. Rates are rising, and the market is a bit weak, but not the dramatic pull back we were looking for in our short position.
Make sure you set your stops tight on our ETF trades yesterday.
Set the stop in the SPDN to $12.09, and the stop in the SPXS should be $8.34.
The SPXS is trading at $8.41 (Direxion Daily S&P 500 Bear 3X Shares). We bought SPXS at $8.41. The stop is $8.34.
The SPDN is at $12.13 (Direxion Daily S&P 500 Bear 1X Shares). We bought SPDN at $12.13. The stop is $12.09.
Keep your stops tight and don't let these trades run against you.
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