Rocket012323   Rocket Equities & Options Report By Tommy O’Brien January 23rd, 2023   The markets are continuing to push to higher in the face of possible slow downs in the data. We have a decent flow of data this week all leading up to the Fed meeting next Tuesday and Wednesday. This week, Tuesday, we get S&P US Manufacturing/Services PMI. Thursday we get preliminary 4th quarter GDP from the Commerce Dept. Economists are looking for GDP to grow at 1.5% seasonally adjusted annual rate in the last 3 months of 2022. We also get jobless claims, durable goods, and...

Rocket010923   Rocket Equities & Options Report By Tommy O’Brien January 9th, 2023   The markets are continuing to accelerate higher following Friday’s jobs number. We are going short this market. The SPY is nearing the $394 price point, which is near the .618 of the move lower since December 14th. We are going to purchase a put spread below the market, going out a couple months to March 17th expiration. The expected move in either direction for the SPY March 17th options right now is about $30.83, which is about a 7.85% move in either direction over the next...

  Rocket Equities & Options Report By Tommy O’Brien December 19, 2022   This market is down almost another 2% just since the update I posted on Thursday. It’s not going to be a one-way trip, but it’s tough to find a reason to buy anything right now at this price level as we come into light holiday trading and the potential for irrational swings with fewer market participants than usual.   We have the 10 Year trading to lower price, bouncing off the upper boundary line, indicating higher rates coming at us if this is a rejection of that...

  Rocket Equities & Options Report By Tommy O’Brien December 15, 2022   This market looks like it is on its way to 3,200 sometime early to middle of next year. This is the third time this year that tthe market has bounced to about a .618 area before rolling over to a much more dramatic shift to the downside. Here you see the .618 retracements of each bounce higher within a bear market this year. This time looks to be no different. I would make sure you have some cash free if we do head lower over the next 3-6...