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WE’RE ON YOUTUBE NOW! See HERE, HERE, & HERE (Yeah … I’m REALLY excited about this).

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Before you Trade Today: Know the Economic Calendar! Also See This Weeks Most Anticipated Earnings. NEVER BE SURPRISED BY EASILY ANTICIPATED MARKET BREAKING NEWS. That’s our goal here.

StockTips is NOW on Odyssey. It’s like discord but better in my opinion

TODAY’S OBSERVATIONS: The day traders love this market. I can’t hate on them either. However I have seen an alarming amount of options day trading. Folks, that’s stupid! If there ever was a sure way to screw yourself over, it’s gambling on options day trades. It will only take one panic day, one flash crash, or one surprise news report to blow up your account. Here is the way it always goes. First, you’ll encounter a little success. Then you get bolder with your trades. Finally you think you know the market & you go big. Then one market panic or rally, from an unseen catalyst, blows you out of the water. If you want to learn how to lose the hard way, play games with naked options. Be carful in this market … don’t get greedy or desperate.

IMPORTANT: Remember we have a new earnings season fast approaching that will fully reflect the true effects of the war in Ukraine & China lockdowns. Seems like old news right? It is … but this upcoming earnings season includes the fallout of both these items all the same! Earnings always reflect the previous quarter, not the current one. It’s easy to forget the past isn’t it?

MAY WHOLESALE/RETAIL INVENTORIES MOM (YESTERDAY): May Wholesale Inventories were forecasted to come in at +1.9% MoM. Actual inventories came in slightly higher at 2%, down from +2.2% in April (But still ridiculously high). May Retail Inventories Ex Autos were forecasted to come in at +1.4% MoM. Actual came in at 0.8%, down from April’s +1.7%. Historically speaking, increasing inventories 1% or higher is exceptionally high. The question is if inventories are high because of stocking up at a record rate, or, are inventories high because firms can’t move product? I’m firmly in the latter school. I think the consumer is slowly getting priced out of the market.

GDP DATA, MORTGAGE APPLICATIONS, & POWELL SPEECH (TODAY): As annotated in the economic calendar. And the likely culprit’s of yesterdays sell off.

MAY PERSONAL INCOME/SPENDING (THURSDAY): Personal Income consensus is an increase of 0.5% Month over Month with April registering 0.4%. Consensus Personal Spending is an increase of 0.4% Month over Month with last April coming in at 0.9%.

MAY PCE PRICE INDEX (THURSDAY): Of note but not necessarily highlighted in red, the Personal Consumption Expenditure is forecasted (no consensus) to come in at an increase of 6.7% Year over Year with April registering 6.3%. Month over Month numbers are forecasted at 0.9% with April coming in at 0.2%. Personal consumption expenditures, a measure of consumer spending, support the reporting of the PCE Price Index, which measures price changes in consumer goods and services exchanged in the U.S. economy. The Fed prefers PCE data though the CPI takes all the glory in the eyes of the public.

Stock futures are flat after failed attempt at a rally. Hong Kong’s Hang Seng index leads losses; consumer confidence in Japan, South Korea falls. European markets set to slide at the open as investors weigh up the economic outlook

BUY LIST UPDATE: It’s always tough after a market dump to add either long or short plays. Be patient folks. All of the suggested short plays I posted earlier worked marvelously! But I’m hesitant to add more given the market lows.

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PAID CONTENT IN THE PAYWALL BELOW: 1 Stocks on the BUY LIST near/at/above the Buy Zone (Waiting to Swing) / 1 Options Strategy / A Detailed Breakdown of Yesterdays Earnings Beats & Misses / Most Recent Insider Buys/Sells / IPO Lockup & Quiet Period Expirations / 10 Stocks on the Price Based Assessment Watchlist / 3 Stocks on the Stocks Under $20 List (Read the Warning/Disclaimer) / 3 Stocks on the Highly Speculative Highly Volatile Small Cap List (Read the Warning/Disclaimer) / 8 Stocks on the short possibilities list.

👉CLICK HERE TO SEE THE DETAILS OF EVERY STOCK ON THE BUY LIST (AND SEE THE PRICE ASSESSMENT BASED WATCHLIST / THE STOCKS UNDER $20 LIST & THE HIGHLY SPECULATIVE LIST)

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