🚗QQQs Go Bearish

[] [The daily rundown of everything happening at Option Pit.]( [1).png]( MARK-et Open Hey OP Crew, Griff here with the Chart of the Day. Today was a give back day for Tech as the Invesco QQQ Trust ETF (Ticker: QQQ) got smoked, while S&P’s went sideways and the Russell 2000 ETF (Ticker: IWM) was +1.6%: [ The interesting result from today is how the QQQs slammed through the Vol Trigger, shifting the bias to bearish. 10-year interest rates being up .13% may have had something to do with it. The question is … were the past two days a shift in money flow to the broader market? Should we remain bullish? I believe so. We’re seeing the cyclicals rally, like consumer discretionary, retail and industrials. This means real money is coming in, and when/if we clear SPX 4325 serious FOMO buying will jump in also. If you’re looking for easy ways to start building income right now, check out my latest e-book – [Income Generation Made Easy](. Let’s Go! [ [( [ - MAKE THE CALL: CEIX Sep15 65/75 call vertical spread closed for a 52% gain - OPTION SHOPPER: GM Jun16 35.5 calls closed for a 63% gain - POWER INCOME TRADER: WBD Jun16 12/12.5 call vertical spread closed for a 45% gain - TRADING DESK: VIX Sep20 16 puts closed for a 129% gain Want to find YOUR winning fit? Give our Customer Care Team a call at 1-888-8772-3301 Monday-Friday from 9 a.m.-5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:support@optionpit.com?subject=) VIX Edge: VIX Continues Its Decent The Option Pit VIX Traffic Light Is Red: Volatility is likely to slide. The VIX continued its pounding on Tuesday, falling .77 points to close below 14 for the first time since the pandemic! One could argue that the VIX has normalized at this point, meaning that volatility in the VIX is no longer abnormally high and has entered “non-crisis” mode with this move. There are still the permabears out there that think VIX is moving to 30 or 40 soon though … And really, at 13.99 how much lower could the VIX go? [Here’s your answer and how to trade it.]( - Mark Pit Report: BUD Breakdown In the news, we’ve seen a massive backlash along LGBTQ+ lines. Brands like Target (Ticker: TGT), the North Face, and Anheuser-Busch (Ticker: BUD) have seen huge backlash because of some of the branding decisions they have made in the last few months. We’re not going to discuss the politics of the issue, but we are going to look at the potential value created by these issues. We have seen these companies lose billions of dollars in market cap because of boycotts. But at what point do these companies become investable? Remember, there’s been push back on big companies for MANY reasons over the years. Most of the time, the bottoms of these drops become a buy. Are we there yet with any of these companies? [This week, we’re going to take a deep dive into one of them.]( - Mark Power Income: Copper Supplies Shrinking - Buy Now! Electrification of the world, which is the only thing global leaders want to talk about, doesn’t have a shot without a major push to produce more copper. Production of copper is facing its own mini-crisis, as output is running at its lowest level in over 200 years. Costs have surged, and profits are down. Production was down double digit percentages in 2022 and is expected to fall 7-8% in 2023, meanwhile warehouse inventories are their lowest in 18 years. One thing we can count on, though, is politicians doubling down on their longer-term fantasies and forcing the issue by throwing more money at it. Time to buy Copper! [Today, I’ll give you what I see as the number best copper buys right now.]( - Griff Profits In Pumps: Date Night at Option Pit Guess what. It’s Thursday night date night again. That’s right. [You have a date with Mark Sebastian and Andrew Gioviazzi and Option Pit tomorrow at 7 p.m. ET.]( We all know history repeats itself or at least comes very close. And there is some history we would like to repeat. Mark and Andrew will be relaying three historical tales regarding trading: - The less assured trader that made a ton - The trader that created the VIX (they know him!) - One of our very own Option Pit members who does very well trading And how these stories apply to trading today. [ They will also have an exclusive trade for attendees only. I know I will be there with bells on. [Once you’ve registered, go here for my next trade idea.]( - Licia AG's Views: Sector Rotation Part 1 From the desk of Option Pit Director of Education Andrew Giovinazzi The Invesco QQQ Trust ETF (Ticker: QQQ) had its first down day in a while, over 1.70% today. How did VIX take it? [ Note how this is different from most of 2023. Usually, QQQ was up 1.75% and everything else was trounced. It’s also a good reason not to pair up QQQ with VIX since they only have a rough anti-correlation. I would say traders have found other stocks and I would not be surprised if the Dow Jones Industrial Average ETF (Ticker: DIA) outperformed QQQ to the 4th of July. Time to play catchup. - AG OPTION PIT GLOSSARY [( There are plenty of terms in the trading world that need defining. The [Option Pit Glossary]( is here to help. Today's phrase is: Juice: The option trading floor slang for option premium, decay, theta, or other terms describing the extrinsic value of options. [( DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. Neither Option Pit LLC nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. 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