$DKNG hit $30 price target and $TQQQ has given great gains this week - 9-1-23 Market update

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The 3x levered ETF's continue higher this week. Earnings were good and we're seeing some good signs heading in to Sept. 

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NOTES

Unemployment rate jumped to 3.8% - HUGE - bond yields fall and stocks are up

Holding a breakout above $83 for crude will push significantly higher. Also - Nat Gas just naturally should go higher. 

Let’s look at our weekly trade of $UDOW $SPXL and $TQQQ

$dkng - it hit $30 like I thought but with confirmation it might fill the gap - got to $30.50 and then pulled back 

Nvidia Insider Trading Alert 

Mark Stevens, the 2nd largest Nvidia shareholder and board member since 2008, just sold more than $25 million worth of $NVDA shares.

The company's CFO also sold roughly $2.3 million worth of shares.

Even in the historically tough month of September, $NVDA stands out from the rest...

Over the last 20 years the stock has a 68% win rate in September with an average return of +2.32% 

Earnings 

$LULU earnings - solid beat - solid quarter and was down 2% with a sell the news reaction but went up after 

$dell killed it with huge guidance - up 10% and trades super cheap - highlights partnership with nvda and tons of partnerships with ai companies and that’s why 

$ntnx - big move with strong earnings 

$AVGO earnings - beat across the board but nothing crazy - it pulled back 3% because they reduced guidance and said they see a slowdown in their consumer business 

$mdb - crazy good earnings and solid upward guidance - immediately up 10% 

$vmw - beat on eps and a small miss on revenues - was down

$pd - eps beat but slight miss on revs and it got killed 

$PSNY - since we went over it - here’s a news clip

$AMD Has to be one of the most highly anticipated setups heading into September.

Social requests 

Sam from fb 

So if we’re talking about long term trades… would now be a time to consider looking at some of these companies like dollar general? I seen they missed on earnings and gave a dim outlook. The stock is down in pre market almost 18%. Would now be a time to look at long trading companies like this?

Trevor from fb 

Gary,

How does your algo work on $MU? I was just noticing it's up 25% over a year with a lot of up and down along the way. Maybe good to either trade or own?

Travis from fb 

How is $HE looking? I got family in Hawaii that agreed that the lines were shut off before the big fire. Today I read they are upgrading the grid, so is 30$ a possibilty at some point?

William from email 

Thoughts on $nio? 

$NIO delivered 19,329 vehicles in August 2023 up 81% YoY and down 5.5% MoM

LI Auto $LI delivered 34,914 vehicles in August up 663.8% YoY and up 2.3% MoM

XPeng $XPEV delivered 13,690 vehicles in August up 43% YoY but up 24% MoM

$TSLA cut prices and introduced a remodeled Model 3 - good news because I may upgrade

SCANS
$SNDL

$ACHR