The markets ended green with the Dow 30, S&P 500, and Nasdaq ending +0.42%, +0.86%, and +1.75%, respectively.
SPY
QQQ
The markets are on its 6th straight green week! Stocks closed the first week of December on a positive note as investors viewed the US monthly jobs report positively. The unexpected drop in the unemployment rate to 3.7% in November suggested a strong labor market. With 199,000 jobs added, the report indicated a positive trend, driven by the return of striking workers. Investors interpreted this as evidence supporting the idea that the Federal Reserve may initiate interest rate cuts next year, contributing to the belief in a "soft landing" for the US economy. Earlier signs of a cooling labor market in the week were seen as validating the Fed's efforts to address inflation.
Steve's Trades
GOOGL
GOOGL Cash-Secured Put
Expiration Date: January 5, 2024
Step 1: Have $13,400 of cash as collateral
Step 2: Sell 1 $134 strike put option (delta 0.42) for $245
Credit/premium received: $245
GOOGL has been struggling to stay above the $138-140 level for a while. However, since the markets have been collectively going up, we might see GOOGL try to break and stay above this level in the next upcoming weeks. I'll also consider buying more shares if that happens. You'll find out on Discord if I do!
As a friendly reminder, I'm also getting a 5% APY by having my cash sit in my Fidelity account as I sell my cash-secured puts. Here's the link if you're interested in getting started!
Manage Your Cash Against Rising Costs | Compare Our Rate | Fidelity
Investing SPY
SPY is currently at the $460 resistance, so we'll have to see what it does it the next week or two. I'll let you guys know if I purchase some shares on Discord. QQQ
Similarly, QQQ has been hovering around the $393 level for a while now, and acted as previous resistance. I'll see how it performs in the near future before I purchase some more shares. MSFT
I bought some shares of MSFT this week. It recently made its all-time-high and is looking technically strong in the long term. With the holidays coming up, it's looking like it could soon surpass its recent all-time-high of $384. HD
I also bought some shares of HD (again) since it's been looking strong in the last couple weeks. It bounced from the previous support, circled in blue, like how it did within the last year.
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Happy Holidays! Keep investing consistently over the long term and you'll be on your way to financial freedom! ☃️
-Steve and the Call to Leap Team
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