Hi Shoppers,
Today is our last trading day for 2022.
And what a wild year it has been!
One of the most volatile, in fact.
What does next year bring us?
Very likely more of the same.
They aren’t finished with interest rates just yet, so we will hang on every word that comes out of Jerome Powell’s mouth.
Congress can’t help itself from spending … still. Does that ever change? Maybe someone from the Fed or the Treasury can give them an Economics 101 lesson.
The oil saga will continue.
Green energy will be pushed along as much as possible.
Will the tech stocks come back?
I think that’s a yes
I would like to be optimistic and say we can end the year 2023 on a positive note/market.
https://media.giphy.com/media/vlTHgdG5Mr04ZNqIoK/giphy.gif
We started with a mere $5,000 and we are ending the year at $9,951 as of this morning.
You can view my actual trades and the P&L here.
I am predicting 2023 to be even better. Come join us, it’s a lot of fun!
Plus I have a trade idea for you.
N, N, Nvidia
Check out the inverted hammer in Nvidia (Ticker: NVDA):
NVDA has traded straight down from a high of $187.90 just on Dec. 13 to a low on Wednesday of $138.84.
That’s down 26% in eleven days.
The inverted hammer could be signaling a change in that trend.
We also have a confirmation trading higher yesterday.
I think NVDA could trade back up to its 50-day moving average at $152.68 (blue line) which coincides with my old support/new resistance line.
Trade Review
Wells Fargo (Ticker: WFC) is trading up a bit and the calls are down a tad. The implied volatility has moved from 25.60 to 24.49. This happens when the stock movement slows down.
I still believe WFC will trade at least $42.60.
Thanks for Reading … See You Next Tuesday.
Licia Leslie