Quick Trade with Explosive Return Potential
Welcome back to the Rude Awakening for Wednesday, March 17, 2021. Happy St. Patrick’s Day for any Irish folks we have with us!
We are seeing some weakness at the open this morning, especially in the Nasdaq.
We have the Fed announcement coming later today — 2pm EDT — which will be interesting. Yahoo Finance calls it, “a key monetary policy decision and updated economic outlook from the Federal Reserve.”
It will be a fine line the Fed has to walk today if they want to keep the markets calm. We’ll see the juxtaposition of much lower unemployment and much higher GDP, against the fear of inflation and how they’re going to manage that.
We are already seeing the skittishness today. This is following a few days of the market being a bit tired, maybe giving us a pullback from an overbought state.
Like I always say, in a world we can’t control, it’s nice to be able to control your trades.
So, today, I’ll share a favorite trade vehicle of mine that’s also been in the news lately…
Powerful Trading Vehicle to Play Today
Lordstown Motors Corp. (RIDE) has proven to be an amazing trade vehicle — and I stress that it is a trade vehicle, not a long term hold.
This is an EV company, a sector which has tremendous activity.
Tesla is the grandaddy and gets all the headlines, but there are some other powerhouse companies in the space.
RIDE is a $2.2 billion company, and it’s getting attention because they do report earnings today, after the market close.
To find out the best way to play it…
Have a great rest of your trading day, folks.
We’ll talk tomorrow!
Editor, Rude Awakening