Nonetheless at these highs.
Trump is set to exit with a bang so he can blame any market crash on Biden and all of the stops are being pulled out to maintain issues afloat. The Nasdaq was at 5,000 when Trump took workplace and now had been up at 12,000 (up 140% in 4 years) however it’s an amazing brief this morning (/NQ) on the 12,000 line as Apple (AAPL) simply introduced they will be cutting App Store fees by 50% (to 15%) for most developers.
That is going to take a chew out of earnings potential because it exhibits that, like NFLX, AAPL cannot simply maintain elevating charges to generate extra income – finally you do get blowback. In Apple’s case, they’re in courtroom with their purchasers in addition to the Authorities over their billing practices.
If AAPL goes down from it is present $2Tn Market Cap – it is going to actually take the Nasdaq with it so we’re shorting the 12,000 line on /NQ this morning with tight stops over the road as it is a very enticing risk-reward play. 11,800 could be an affordable pullback goal – good for $2,000 per contract on /NQ – we’ll see how that performs out into this afternoon’s dwell buying and selling Webinar.
Discover we have been pulling again much less every time we check 12,000 – that is a really bullish sample so we’re simply enjoying for this little pullback for the second however, if that 50-day transferring common fails (11,500) – it is a good distance down (15%) to the subsequent help on the 200-day transferring common at 10,250 (by the point we get there).
I suppose this can be a good time to evaluation our new Quick-Time period Portfolio (STP) which we simply began on 10/28 as we cashed out the previous one as we had a pleasant dip and took full benefit. The brand new STP began with $200,000 to guard what’s now a $1.2M Lengthy-Time period Portfolio (see yesterday’s LTP Review) although now primarily in CASH!!! as we received out of half our positions yesterday.