Hi Traders,
If you missed Hans and me on Thursday, you missed out. Hans gave several "inside baseball" tips on top of explaining how he trades. Watch the replay here.
Wednesday's earnings are done, and the verdict is out: traders love Google, they're mediocre on Amazon, they don't love Microsoft, and they HATE Meta.
Thursday night brought another massive earnings report in Apple (AAPL), which crushed it.
I want to show you how these massive earnings are affecting the overall market, and the best way to display this is in the VIX.
We all know the VIX has been above 20 on average since March. Even before that, a VIX below 17 was hard to find.
Take a look at the curve:
The VIX closed at a multi-month low and now appears to be heading toward 15, potentially lower.
Think about it: we're through earnings, markets have moved past Iran, and private credit appears to be put aside now that Pimco bought all that Owl debt. I'm certain there's a shoe out there, but I currently do not see it.
Licia thinks the SPX is heading over 7,300. I cannot argue with her. The S&P 500 just blew through 7,200 like it was tissue paper.
I know you're worried you're going to buy the top, and you should be. This is why Hans and the MTI are so important in this market. Is the market frothy? Heck yes. But it's likely to keep going. I'm going to rely on MTI at this point because I hate this rally. If MTI is green, I'll know to stay long. If you're not a member of Turbo Income, this is the most crucial time to have access to MTI. Join now while we're back at launch pricing. Tap here.
I'm Not Done With Intel
I'll tell you, I still love Intel (INTC). It's over 90, which means it's going to 100, and frankly I think it's going to potentially run to 115 or maybe 125. In the last few months, Intel has gone from threatening to break below 100 billion in market cap to now threatening 500 billion.
The Walking Dead at Macy's
Macy's (M) has been in a slow decline for some time. It's shockingly still 19 dollars a share. The only value here is the real estate. The company itself is toast. Earnings are May 27th, and they're going to be terrible. I currently fail to see the niche this company has going forward.
Your only option,
Mark Sebastian