Stocks With Josh Show - Market Analysis and Key Trades

Introduction

• Motivational Advice: Keep working hard and eventually, you'll succeed.
• Market Overview: It was a tough day in the markets with significant drops.
• News-Driven Cycle: Be cautious about shorting the market as potential news can cause a pop.

Biden's Potential News Impact

• Rumor: Biden might step down from running for president.
• Market Reaction: Uncertainty could lead to another drop on Monday.
• Strategy: Consider taking risk positions if a significant drop occurs.

Magnificent 7 Analysis

• Risk Positions: Author plans to take risk positions in the Magnificent 7 stocks.
• Importance of Earnings: Watch Q2 earnings, especially for companies like Google next week.

Trading Advice for Beginners

• Focus on SPY: Recommended for beginners to focus on trading the SPY to understand price action.
• User Highlight: Michael (Puddin 16, a former coal miner and musician) will help users trade SPY.

Market Transition and Strategies

• Bullish to Bearish Transition: Market transitioned from bullish to bearish; watch for distribution phases.
• Trading Caution: Make fewer trades and control position size due to market choppiness.

Key Trades and Stock Analysis

• Amazon Calls: Recent Amazon calls were down, but there is bullish potential for next week.
• Tesla Puts: Successful trade on Tesla puts; cautious optimism for more opportunities.
• SQQQ Position: Successful inverse position on SQQQ; looking to add more.

S&P 500 Analysis

• Recent Movement: Significant daily movement; expect choppiness in the coming weeks.
• Future Targets: Monitoring specific levels for potential reversals and further drops.

Stock-Specific Analysis

Nvidia

• Bearish Position: Watch for failure around $119-$122 for potential puts.
• Long-Term Potential: Potential to drop to $109-$110 before a possible bounce.

Netflix

• Earnings Reaction: Despite beating earnings, likely to see profits taken.
• Target Levels: Watch for breaks below $633-$628 for further downside.

Tesla

• Candy Business News: Elon Musk diversifying into the candy business.
• Key Levels: Watch $238-$236 for long opportunities; $253 for long-term bullish trend.

Amazon

• Bullish Divergence: Potential for a bounce; inverse head and shoulders pattern forming.
• Key Levels: Under $179 is bearish; potential bounce to $188-$192.

Final Thoughts

• Overall Market Sentiment: Market is choppy but still in a bullish environment.
• Patience and Strategy: Wait for the right moments to enter positions.
• Community Engagement: Encouragement to support fellow traders and community members.

Closing

• Song Feature: Introduction of Puddin 16's music as a community engagement effort.
• Appreciation: Thanks to viewers and call to action to like and subscribe.

Peace and Blessings.