9 Minute Read

Tackle Today: GDP and Big Tech Earnings

July 30, 2020

By | No Comments

It is an important day for the markets

Traders,

It is a busy day in financial markets.  There was a handful of important economic reports that were reported this morning, including the Advanced GDP and weekly jobless claims.  Both reports paint a continued dire outlook for the state of the economy.  The Advanced GDP reported a -32.9% contraction quarter over quarter (the worst since they have started keeping track in 1947) and the weekly unemployment claims saw another 1.434 million people files for unemployment in the last week.

Markets are down, and there is a bearish tone to early trading, but the real important action may happen after the bell today when AAPL, AMZN, FB and GOOGL report their quarterly earnings.  This has been a news packed week, and the last 2 days will be the most important. 

When volatility picks up, it is important to remember to stick to your trading plans, continue to work your watch lists for new opportunities, and always follow your trading rules for your portfolio.

We have known the GDP was going to be terrible, and the report was in line with most economists’ projections.  The continued jobless claims are potentially more concerning, as the economy and jobs are simply not rebounding quickly.

Days like today are a reminder to do a portfolio stress test, double and triple check your leverage, risk, and portfolio design.  As always, join us in our live programming to listen into the coaches insight and get some help with any questions you have.

#TeamTackle


Chart of the Day

Advance GDP q/q

This morning, the advanced GDP data was reported by the Bureau of Economic Analysis.  Gross Domestic Product (GDP) contracted by -32.9% on a quarter over quarter basis. 


Video of the day

Trading Concept Check: Portfolio Design

Watch this quick video to help you make sure you understand the important concept of proper portfolio design for all your trading and investing strategies. Having the right portfolio design helps take all the guesswork out of asset allocation and position sizing by helping you become more systematic about your approach.


Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

Cashflow Club 8:30 PM EST

Held every Thursday before Friday’s option contract expirations, this show helps you perfect your favorite cashflow strategies.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.


Tackle Trading: Financial Freedom is a Journey. Sign up now for a 15-day free trial.

Financial freedom is a journey

The Tackle Today series is brought to you by Tackle Trading.

Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.

# Sign up now for a 15-DAY FREE TRIAL #


Legal Disclaimer

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.

Leave a Reply

Chart Modal

Tackle Trading