At the time I am writing this article, it is 7:20 AM, Monday, June 19, 2017.
Over the past two weeks, I have been talking about a possible rotation back into the tech sector which has taken quite a beating as of late. Well at the time I am writing this article, there indeed appears to be a large amount of cash making its way back into the tech sector, and that means opportunity.
This morning I bought September 130 calls on QQQ, and I will be watching this position closely.
***To see my latest stock picks click here: https://www.traderschoice.net/money-page--stock-picks.html
It is also important to note that the 10 year-year yield appears to be stabilizing, and this is playing into today's rally with the S&P 500 hitting a new record high. It is also important to note that the US dollar appears to be stabilizing and this is further fueling today's rally.
Another factor playing into the market action today is once again the Federal Reserve.
New York Fed. President William Dudley spoke this morning stating that he is confident that the Federal Reserve will indeed hit their inflation targets in the not so distant future.
What Mr. Dudley's comment says to me is once again that the Federal Reserve will continue to prop up this market.
So let's ride the wave higher my Lions!
Gregory Mannarino
Nothin' like a quick market report to start off the week. Thanks Gregory!
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Thanks Greg. You're calling it.
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You gotta love the Fed's BS jawboning as they speak from their mighty high-horse... another accurate report from Mr. Mannarino (shouldn't it be Doctor Mannarino? All these fraudsters get honorary doctorates all the time!)
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Thanks for another insightful post
Greg !
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Sure are smashing the metals of late yet some of the miners are up this morning. Maybe an indication of something that is going to play out in the near future?
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ROOOOOOOOAAAAAAAR!
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Well, the Federal Reserve, absolutely unpredictable?
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thanks Greg, the fed will keep the markets levitated no matter what.
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130 calls, that is a lot :). Agree, stocks are going higher.
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Hello! I had a quick question for you please. When Greg posts his stock picks, he is suggesting to buy a Straddle at the money. right now, that would be about 141. What is he indicating with the 130? Thanks in advance? Actually, I just re-read it and he isn't doing a Straddle but just a call? So the 130 is his strike price? Thx!
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I trade whit CFD, so i am no expert in options, 1 contract in option is the same as 100 stocks, so i thought he open 130 contracts, but it seems that is the enter price, out of the money. Please ask also someone else, so you would not be misinformed.
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great update, thanks for sharing
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Also, a ROAR from the Lioness!
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I knew that the fall in tech stock would not last long. Looked what happened last time when the VGT flash crashed a few weeks back. they will always prop up the market until they decide it is time o pull the plug for real.
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thank you Greg
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Good luck on those QQQ calls. I'll stay on the sidelines this time as I think this market could easily reverse.
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Thanks for the stock picks.
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I was thinking that when the tech stocks started to recover that crypto currency would take a hit, so far I am wrong. The Market Cap for crypto has not really moved. I guess the fed is back to work.
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Thanx... upvoted... resteemed!!!
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What a bad time to be both cash and money challenged...lol What?
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$130 Calls? Puts?
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The dog 'n pony show is never ending . . .
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Thanks for the update Greg! Lions roar! :)
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Always giving us the most updated information thanks
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These fuckers are going to print hard enough to wake the dead. They'll print like mo'fos, print like mad men, print like fly pimps. Print until their eyes bleed.
They will print via the swaps, via bank bailouts and mergers, via fixed Treasury yields, via real honest-to-God negative interest rates, via loans to banks on no collateral, via payroll tax reductions, and in the end via actual fiat paper instruments which they might very well drop in bails from actual mutherfucking helicopters.
They will not give two figs what anyone thinks.
Here is why.
Because this is the Goddamned end of it my friend. There is no accounting beyond this point. There will be no history of it. No one to take notes of rates of exchange, or of the graft and violence, nobody to worry about the deficit or the GDP or the national debt of any nation large or small under the blazing Goddamned sun.
End. Of. It. Does anyone bitch about how Rome totally debased their coinage at the end? Hell no. But whoever did it had enough to hand and grabbed some land with a nice vineyard and sat back and waited for the Middle Ages to start 700 years further on.
And that's what a singularity is about. Anything that passes through is striped of all meaning. Nothing we think is important now will remain so beyond the event horizon. Nobody will remember, nobody will write about it, nobody will be held to any standard. Ever for evar.
So yeah, they'll print like the mad crazed terrorists they are. Because they have nothing to lose, and maybe something to gain. Maybe a dollar. Maybe a day. Maybe a slim chance to escape with some of the loot. Whatever the fuck advantage they see in it, for themselves and their elite crap wanking buddies, they will full-on-full-time-fucking do it to advantage.
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Hello! I had a quick question please. When Greg posts his stock picks, he is suggesting to buy a Straddle at the money. Right now, that would be about 141. What is he indicating with the 130 on QQQ? Thanks in advance? Actually, I just re-read it and he isn't doing a Straddle but just a call? What is the 130 reflecting?Thx!
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Thanks Greg. You always offer great wisdom and insight.
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QQQ now in favor at least for today!
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Check my views on crypto long term
https://steemit.com/cryptocurrency/@newmarket65/is-cryptocurrency-your-get-rich-quick-scheme
thanks follow me and i will follow you
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Thanks Greg. Upvoted and resteemed.
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How high do you think the Fed will raise their target once they bust their current target?
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Speaking of Lions, is this Chinas version of a wall street Bull statue? https://steemit.com/history/@jamal.idou/incredible-wood-lion-sculpted-from-one-tree-11-photos
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This post has been ranked within the top 10 most undervalued posts in the second half of Jun 19. We estimate that this post is undervalued by $85.58 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jun 19 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
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you the man :)
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Good one GM! ~ spot on as usual...
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Their thinking: Print $ - SaveThe System
What's really happening: Save $ - Lose $
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