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Transcript:
Happy Friday happy end of the quarter a big day for data and we are not done yet. With the core PCE index. The feds preferred inflation indicator this morning came in line with expectations but the personal spending component was a little light in the prior month was revised lower. This is in line with what we saw yesterday from quarter one GDP where inflation adjusted consumer spending which was revised lower. We then had Michigan consumer data where the one year inflation expectations came down to 3% from 3.3, the lowest since March. This is all a tailwind to the Fed wanting to cut rates later this year. It’s a tailwind to markets. We’re seeing the spy ETF hit a record high and the s&p futures are knocking on the door hopefully we can see a nice strong finish to the quarter few things on my mind from an options perspective I talked about micron my bet into the earnings and that didn’t pan out but we are seeing a nice buoy about 2% here today I don’t hate seeing that. Another play that I put on it I did not talk about on CNBC was Tesla call spreads. At first I increased Tesla to a top 10 position of ours in portfolios. Personally I also added the September 2052 30 call spreads for about 570 A week ago and they are trading you know about eight and a half I took half of them off about a 50% gain of Cushing my week looking at that I think Tesla can get to 220 from here into that August 8 reveal of the rubber tech Robo taxis The other thing I’m watching here on commodity side, gold, silver, nice rebound from week lows 2300 held in gold. That’s a really nice move here. Hopefully we can see continued tailwind to start next month. And then we have a big USDA report today. Now this is huge because it’s the planting acreage of corn, wheat, soybeans, corn and wheat have just been absolutely demolished. Specifically corn has a net record short position on right now and wheat this decimated last couple of weeks, we’ve taken some calculated risk call spreads in our CTA commodity trading advisor with Blue Creek capital. I think this is a great defined risk way to play this USDA report. If you’re looking to talk about any of this stuff, hit us up info at Blue Line futures.com. If you want to hear this gear I’m wearing right now hit us up and for blue line futures.com DM me on Twitter. We could chat about some of the trades that we’re working or anything we’d love to hear from y’all.
Ownership in: $TSLA $MU $GLD $SLV
Disclaimer:
Blue Line Capital, LLC and individuals in this video may hold a position in the securities discussed. Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Blue Line Capital, LLC), or any non-investment related content, made reference to directly or indirectly in this video will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this video serves as the receipt of, or as a substitute for, personalized investment advice from Blue Line Capital, LLC.
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On the date of publication, Bill Baruch had a position in: TSLA , MU . All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
