What Was Moving in the Market Today

Posted on Monday, July 18, 2022 at 3:30 PM

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Dan Passarelli, CEO - Market Taker Mentoring

 

It was kind of a fairly active day in the market today. We had a little bit of a range here. The market was up a bit earlier, kind of pulled back a little bit towards the end of the day.

But the real story is some of the stuff that's really going on and happening right now today, and that is: that earnings season is kind of kicking off in soft launch sort of way today. We had JNJ, NFLX, as well as Lockheed Martin all announcing earnings within the next 24 hours. JNJ and Lockheed Martin, you'll get the news on them by tomorrow morning. Netflix, you'll have to wait until after the close tomorrow. So those are some things that I was trading today. I put on earnings trades in each of those today.

As far as other things, when the market was up a bit earlier today, it ended up being a really nice day for some of those options raider trades, some of the short squeeze trades and there were some in AMC. AMC which is up sort of a fair amount today. We can kind of pull that up. Kind of been steadily rising for a bit and had a little bit of a boost today.

GME was also a pretty strong one. That one's been seeing some bigger ranges lately. Today is not a huge range, but it is up 4% and in fact there were probably about 12, 13, 14 different stocks lighting up options raider, which we can see some of these short squeezes on any sort of day, whether the market is up or down. We tend to see a bit more on days when it's up and so that's why we saw some of these this morning.

But even a handful of the ones that were up this morning doing pretty well are still logging winners here towards the end of the day. I hope that helps.

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