📈 Stocks Soaring on Tentative Debt Ceiling Deal

Here's what is happening in the markets today, Tuesday, May 30

- Tentative debt ceiling deal reached
- Goldman Sachs: Deal likely to pass both chambers of Congress soon
- Stocks rise on agreement
- Nvidia (NVDA) nears $1 trillion market cap
- May jobs data to be released this week
- Earnings this week: HP (HPQ) and Salesforce (CRM)

PLUS: How we trade these markets and our current positions

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[alessandrourso]

Thanks for another great update. Last week you sold puts on SYY and expired worthless. Why didn't you continue to sell puts this week? Today SYY is a bit down, so you should have a better entry point or more premium for the same strike

[Reza]

Thanks for pointing out the easy money in oils. I totally agree!

[petkuscinta]

Thanks, Mark. I think this is a typical period where the vast majority of stocks grow 2-7% per day well above 100 and 200 EMA on one hand and we are not! in uptrend. Not easy to find entries or even harder to do nothing fiddle hands (wait). Very easy to enter and lose ending up with "rescue missions later". . . The risk of a second double-digit crash/correction is real. I have 2 contract puts in GM @33-00 Wanted 30-00 but the fair value is $59

[Bondibites]

Insider info on Chevron, love it! 😎 Better change that date...

[Po]

Hm not sure if I would want to touch oil now...with recession coming it seems too risky to hold them for now