Don’t Trust This Rally! ⚠️

I don’t think the worst is over…                                                                                                                                                                                                                                                                                                                                                                                                                 August 06, 2024 | [Read Online]( I don’t think the worst is over… *sponsored by We saw an excellent market reversal today. I ended up taking a few new positions, though I don’t trust them, and I don’t plan to hold them very long. Remember, global markets have suffered a lot of damage over the last couple of weeks. It won’t magically repair itself quickly. Take it for what it’s worth, but I don’t think anyone should become too complacent about trades right now.  Just because the market is up one day doesn’t mean a nasty “rug pull” couldn’t happen tomorrow. In fact, I fully expect markets to have another big down day soon. Because of that, I started a new trade on UVXY late this afternoon. While this was just a “hedge” against my long positions, it really jumped in the last few minutes of trading today, and I sold half of it to lock in a nice one-hour profit…. Note: Trading is hard, results not guaranteed and should not be expected to be replicated typically. UVXY is the “fear trade” bet, and it should profit if markets drop again. I expect to see UVXY retest the $50 level again this week (though I will probably sell the rest a little before $50 since I am up so much now.) On the hourly chart, I actually like QQQ a lot right now, though. I think tomorrow will be an important day to see if this rally has legs or not. I keep saying that even though the markets are ugly, it remains a “stock picker’s market” right now. Today proved my point.  I picked a pretty good one. If you opened your email before the market opened, it was especially good! That stock idea I sent you jumped over 20% during the day and even managed to close near the highs (I wish I could say the same for the markets!) Pretty great day, huh? Lots of opportunities today, and it really shows what a strong company this is. I hope you spend time looking into it more if you haven’t already. Tomorrow, I am going to take one more shot at a small-cap momentum stock. I talked to you about this one a few months ago, and I think now is a great time to revisit it again. As usual, if you want all the details early just [refresh this link]( at exactly 9am EST tomorrow. It’s not hard. Just set a reminder on your phone right now so you don’t forget! This is another small, momentum stock trading around $1 right now. I think it has great short-term potential from here, no matter what happens to the market. Make sure you check it out first thing in the morning. To Your Success, *sponsored by Finance Buzz Hands Down Some of the Best Credit Cards for Balance Transfers Did you know some credit cards can actually help you get out of debt faster? Yes, it sounds crazy. But it’s true. The secret: Find a card with a “0% intro APR" period for balance transfers. Then, transfer your debt balance and pay it down as much as possible during the intro period. No interest means you could pay off the debt faster. 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