Let's Trade

7/29/21 - Markets end green, post market trading looking sketchy


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All 3 indexes end in the green today, however there seems to be a pretty sharp dip forming in post market trading. We will look to see how much of that can get bought back up in pre market tomorrow before the open before we can determine which way we will go to end the week.

New proposal is now in the works to have more federal oversight on crypto exchanges and businesses being required to report crypto transactions over 10k (misstated in podcast about the 10k rule, this is what it actually is). This could be a good sign long term for crypto as it is finally being recognized and adopted as an asset class.

Amazon earnings beat estimates, however sales revenue was lower than expected causing it to take a sharp dip into after hours (likely contributing to QQQ dip). Continues to prove our point that consumers and products are more important to investors than earnings when pricing the value of a stock.

DE worked out and as expected took most of the day, however SCCO could have been about 2R as well but trading plan was broken and we ended up at break even for that one. Learn from my mistakes, stick to your trading plan to give yourself a better chance at making money!!

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Let's TradeBy Derek Hutson