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Market Turbulence Intensifies
Don Kaufman
July 30, 2024
Alright, traders, Don Kaufman back with a hot-off-the-press update that's more volatile than my coffee this morning!
Well, the market's serving it up in spades, and it's forcing us to stay on our toes.
Let's dive into the latest:
Volatility: The VIX is still climbing, now above 17.60 and up 6.5%. This two-sided market is giving us exactly the kind of action I predicted. It's a trader's paradise out there, folks!
Regional Banks: KRE is holding up, but as I said yesterday, I'm skeptical of this rally. Keep watching for that potential reversal.
Tech Tumble: The Nasdaq is taking a real beating, down 1.47%. Nvidia? It's getting absolutely crushed, down 6.7%! This could be that rotation I was talking about in full swing.
AMD Curveball: Now, here's where things get interesting. I predicted a short-term bullish pop for AMD ahead of earnings, but it's down 3% today. Does this change things? Not necessarily. Remember, we're playing a short-term game here. This dip could set us up for an even stronger bounce if the earnings surprise to the upside. But it's a reminder of why we always define our risk, folks!
Boeing: Still bearish here. With the overall market sentiment, I'm even more confident in my put spread strategy.
Look, this is exactly the kind of market that separates the wheat from the chaff. It's volatile, it's unpredictable, and it's precisely why we plan our trades and trade our plans.
The AMD situation is a perfect example of why we use defined risk strategies. Even when the market throws us a curveball, we're not out of the game. We adjust, we adapt, and we keep our eyes on the bigger picture.
Want to hear more about how I'm navigating these choppy waters? Check out yesterday's full video breakdown. I go deep into the charts and explain my thought process behind these trades.
To your success,
Don Kaufman
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