Trading Tips With Jim Stromberg

A new trading year is upon us, and it promises to be a special one. While the world grapples with inflation, wars, and a divided political climate, Nasdaq roared and gained more than 43% last year. What does this year hold? Will it be the magic year of insane gains, or will the dreadful statistics prove right, causing a second wave of falls that vaporizes previous gains?

In the $1000 challenge, RPTX is up more than 36%, leaving 2023 with a remarkable 50% gain. For 2024, the goal is to 10x the money by adopting an even more aggressive approach to stock picks.

Find out about this and much more in this week's episode of 'Trading Tips With Jim.

This week, the Federal Reserve (Fed) is scheduled to speak on Wednesday, where it will be announced whether the interest rates will remain unchanged or be adjusted. Before this, on Tuesday, the Consumer Price Index (CPI) figures will be released, providing insights into the current inflation trends. The major bet in the market right now is for Fed's to start cutting rates in 2024.

Repare Therapeutics Inc. has had an impressive week, yielding nearly a 19% profit so far, bolstering hopes of achieving the goal of doubling the initial $1000 in the challenge by year's end.

Gold is setting new all-time highs as it moves faster and faster upwards to the $2500 target, making the long-term bet into gold a solid investment. Nasdaq remains stubborn in overbought, and NYSE is hitting 55% buy signals. The last time that happened was followed by some rapid falls, but with optimistic markets, a new green week may lie ahead.

In the $1000 challenge, Tekay will be replaced by a riskier stock in a last attempt to make a double by the end of the year.

On Thursday, crucial inflation data will impact the market with the release of the Personal Consumption Expenditures (PCE) numbers. This could either boost or sink the market, as it will guide the Federal Reserve on whether to increase interest rates or not.

The Nasdaq continues to push into overbought territory, while the number of buy signals is gradually decreasing. Gold is again over $2,000, and in this week's podcast, Jim will delve deeper into the topic of gold.

In the $1,000 challenge, Teekay managed only a 2.69% gain, as Jim aims to double the value of the portfolio by Christmas. With only four weeks left, there's still a long way to go, as the portfolio has only seen a 15.8% gain since the start of this fall.

Want to know this week's bet? Tune in

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The Nasdaq index shows signs of being overbought, with its RSI14 (Relative Strength Index) topping a historically high of 91, indicating that investors are anticipating further upward movements. Significant market activity is expected despite the shortened trading week due to Thanksgiving on Thursday. Notably, Nvidia is slated to announce its quarterly results this week, which could further influence the trajectory of the market's top performers, often referred to as the 'magnificent 7.'

In the commodities sector, oil prices show resilience, gradually climbing from $75. The upcoming OPEC+ meeting will likely contribute to this trend, especially if oil production cuts continue. Given the current market dynamics, investors might contemplate whether oil could be a more stable investment option, particularly if the Nasdaq undergoes a natural correction before experiencing further increases."

This week, we're set to receive new inflation data, and major corporations such as Target, Home Depot, Cisco, Advance Auto Parts, and EV manufacturer Xpeng are scheduled to release their quarterly results. The US is facing challenges in selling new debt; we'll explore how this might impact future markets.

In this week's episode of the Stockinvest podcast, 'Trading Tips with Jim,' Jim delves into the use of pivot points as a key element of your trading strategy.

Stay tuned for this and much more in this week's exciting stock market podcast

Last week's bet on a strong performance was a good choice, as the NASDAQ rose 6.6% last week, making it the best week in 2023 for the index. The question remains whether this momentum can be sustained this week as the NASDAQ now approaches the upper boundary of the falling trend.

In the $1000 challenge, switching from OXY to NIO has so far yielded an 8.15% profit, but there appears to be potential for even more gains during the week.

Tune in for all the details!

Nasdaq is oversold on RSI, and the buy and sell signals are flagging a short-term buying opportunity where Nasdaq should be able to push back to the 13,000 level. The week will again be packed with quarter results, with Apple numbers coming on Thursday, but before that, FED and Powell will give their speech on Wednesday. In the $1000 challenge, a new bet will be placed, this time on NIO. All in all, Jim expects a good week for the stock markets.

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Markets are struggling, with the Nasdaq once again dropping below 13,000 points. Geopolitical tensions are escalating just as US markets approach the significant quarterly results week. Companies such as Microsoft, Meta, General Motors, and Boeing will release their figures. Amidst this turmoil, investments in oil, gold, and war continue to yield returns, offering a relatively safe haven in the markets. In this week's podcast, Jim explains why we might see a frantic sell-off or a once-in-a-lifetime buying opportunity, as buy signals are hitting record low numbers.

Tune in to hear his prediction for the week ahead!

Websites mentioned:

https://stockinvest.us

https://getagraph.com

This week, the bet in Occidental Petroleum (OXY) continues. As the market faces the geo-political uncertainties with the war in Ukraine and the brewing war in the Middle East, the bet is that oil prices will continue up and the markets will be very volatile. Mitigating the risk by staying in dividend payers and good trends seems more critical than ever as Nasdaq again is balancing on the edge of a significant fall.