Newsletter 02/03/2024

Newsletter 02/03/2024 Sponsored by SpeedTrader

Author

Mitchell Hennessey
February 03, 2025

Quote of the Day: “You can't manipulate a calm mind" - Dalai Lama

Notes:

I am seeing alot of “market in turmoil” comments on x and the news. Some things to remember

1). The market has never not gone higher - YOU WANT DIPS!! If this statement ever does not remain true I think we have much much larger problems…

2). This is a unique situation but this is not the first time tariffs pushed the market down. 2018 Trump announced 25% tariff on steel and 10% on aluminum. SPY pulled back less than 10% to the 200 day moving average. Using that as a guide - the 200MA probably a decent spot that we might start to see a real reversal. Only time will tell. As you can see below we rarely ever are below 200 for very long.


SpeedTrader is a sponsor for the Newsletter!! As many of you know, I trade small caps. I've been focusing on small caps using SpeedTrader as my go-to brokerage for the past 8 months, especially for shorting stocks. TD, ETRADE etc. are so unreliable. My fills were also terrible. I would see the price LOWER and still have trouble getting filled. I use SpeedTrader because they have TRUE Direct Market Access, so I can execute my trades. Plus, their customer service is top-notch —always there when I need them.

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This trade below is from November. I am able to route through FAN, ARCA etc. using SpeedTrader to help me get the best execution price. The commission rate posted on the link above is $.0015 per share when using code HUGHHENNE. Be sure to read the web page and/or contact SpeedTrader for details.

This was my trade 01/27 for NVDA. Just as discussed yesterday - Patience. This was a 2.5% trade. I never gave it the opportunity to go against me. Without the tools from SpeedTrader and patience I might have had 2…3 losses prior to this and would just be working to make it back.

If I were a risk manager at a fund this would be on every traders sheet today:


  • SPY: VERY VERY safe today. Monday after big move. Headlines are going to be flying… Whipsaw action. Most likely will sit out today unless some crazy extension

No interest: 591.9 - 593. 2

Above Targets: First target is 593.9 Second target is 594.7 Third target is 595.3 Reach Target is 598

Below Targets: First target is 591.01 second target is 590.2 third target is 588.6 Reach Target is 585.8

GOOD LUCK AND BE SAFE

H.H

“Hazard Zet Forward”

PLEASE READ: I am doing this because I love the community and enjoy talking about stocks. I have a right to talk about stocks and I’m going to do just that. Nothing is advice. I am not a financial advisor. This is not advice (seriously, i mean it). I am not a pro. I could be buying or selling any ticker mentioned at any time. One more time - I could be buying or selling any ticker mentioned at any time. I will do what I want and I want you to do what YOU want. Any money made / lost is the result of your personal decision - “Daily Newsletter” “Hugh henne” “Mitch Hennessey” or anyone / anything connected to any of those are not liable.