Swim Trading Trade Discussion
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New York regulators directed a crypto company to stop issuing one of the largest dollar-pegged cryptocurrencies, as a government clampdown on the sector widens.

The New York Department of Financial Services ordered Paxos Trust Co., which issues and lists Binance’s dollar-pegged cryptocurrency, to stop creating more of its BUSD token, Binance said in a statement. Paxos will continue to manage redemptions of the product, the giant crypto exchange added.

BUSD, also known as Binance USD, is a stablecoin backed by U.S. dollars on a one-to-one basis. Binance and Paxos partnered to launch it in 2019 and said the stablecoin was approved by New York’s financial regulator. Binance said BUSD is issued and owned by Paxos and that the crypto company only licenses its brand. There were 6.2 million holders of BUSD as of Feb. 13, according to Binance’s website.

A spokeswoman for New York-based Paxos didn’t immediately respond to a request for comment.
What's 1 AI stock that you can think of? 🤔

I bet that you won't be thinking of Dynatrace.

Yet, its shares have been rising quietly. 📈

And as the US stock market pulls back, this stock could be ripe for a short-term swing trade real soon.

Read more about it here! 👇
Swim Trading Trade Discussion
What's 1 AI stock that you can think of? 🤔 I bet that you won't be thinking of Dynatrace. Yet, its shares have been rising quietly. 📈 And as the US stock market pulls back, this stock could be ripe for a short-term swing trade real soon. Read more about…
The share price of DT did break above $44 last week, but that key price level failed to hold. 😥

Based on the AEP framework, there's no entry either.

I think that the chances of an AEP setup are slim now.

Please size your trades well and trade the pullback.

React with a 👍 if you've found this helpful.
Are you feeling hot?

I passed by a swimming pool and saw that it was packed! 🏊

My instinct kicked in and I went to have a look at this stock in my watchlist.

And it's a gem!

It had shot up by nearly 26% and is pulling back. 🚀

I'm excited to share about my findings with you.

Stay cool! 😊
The Standard & Poor's 500 extended its losing streak to a third consecutive week as heightened concerns surrounding the Federal Reserve's campaign against inflation and its effect on the economy weighed on Wall Street.

The benchmark index closed 2.7% lower at 3,970.04 from last week's close of 4,079.09 with all but the energy sector ending the week in the red. This was the first time since December the index has closed lower for three straight weeks.

The holiday-shortened week kicked off with a sales warning from Home Depot (HD) in which the home improvement retailer said comparable sales growth would be flat in 2023. The stock sold off sharply, dragging down the consumer discretionary sector.

Weighed down further by disappointing Q4 sales from Domino's Pizza (DPZ) and production issues with General Motors (GM), the consumer discretionary sector was down 4.44% this week, making it the worst-performing sector within the S&P.

Financial stocks continued to face headwinds as lingering concerns of a Fed-fueled recession coupled with the likelihood that the interest rate premium for banking stocks from higher interest rates is already priced in drove the entire sector down 2% for the week.

Led by losses in Boeing (BA) and Southwest Airlines (LUV), industrials were down 2.7% for the week, while the utility sector closed the week with a loss of 2.8% as a consequence of the sector's sensitivity to higher borrowing costs.

Fueled by growth in its data center business, shares of Nvidia (NVDA) rallied 14% on Thursday and closed the week with an 8.9% gain. That wasn't enough to offset losses in shares of Intel (INTC) after the chipmaker cut its dividend and Keysight Technologies (KEYS) which spooked investors with its lackluster Q2 revenue guidance. Accordingly, the technology sector was down 2.7% from the prior week's close.

Better-than-expected earnings from Coterra Energy (CTRA) and Diamondback Energy (FANG) helped prop up the energy sector, which finished out the week up 0.2%, and the only sector to close in positive territory.

This week's economic data was eclipsed by the minutes from the February Federal Open Market Committee meeting that showed the committee remained committed to higher interest rates to curb inflation. Wall Street is expecting another 25-basis-point rate hike in March, May and June, which would push the terminal rate as high as 5.5%.

Next week's heavy economic calendar includes pending home sales Monday, home prices and consumer confidence Tuesday, the purchasing manager's and ISM manufacturing indices Wednesday, non-farm productivity on Thursday, and the services sector PMIs Friday.

On the earnings front, focus shifts to the retail sector with results from AutoZone (AZO), Advance Auto (AAP), Target (TGT), Urban Outfitters (URBN), Lowe's (LOW), Kohl's (KSS), Best Buy (BBY) and Macy's (M). Tech heavy-hitters Salesforce (CRM), Dell (DELL) and Broadcom (AVGO) also report next week.
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Caution ⚠️

Another known fake account:

Please do not interact. Please report & block 🙏🏼🙏🏼
U.S. stocks climbed Thursday, with gains across sectors offsetting declines in financial and consumer discretionary shares.

The S&P 500 rose 0.5%. The Nasdaq Composite gained 0.4%, and the Dow Jones Industrial Average edged up around 270 points, or 0.8%.

Major indexes began the day mostly lower. Markets have been under pressure lately as hot economic data have convinced many investors that the Federal Reserve is likely to keep interest rates higher for longer.

Stocks then wiped out their declines for the day after Atlanta Fed President Raphael Bostic said that he "still very firmly" supported raising interest rates in quarter-point increments. While the Fed had raised rates in bigger increments last year, Mr. Bostic said there was a "plausible case" that past rate increases would slow the economy more notably later on.

Many investors say they are remaining cautious on stocks in the near term, given how much market sentiment has shifted based on the strength of economic data from month to month. Data Thursday showed that weekly jobless claims, considered a proxy for layoffs, were lower than expected, pointing to continued tightness in the labor market.

Stocks still look vulnerable to further declines, said Greg Bassuk, chief executive officer of AXS Investments, adding that he'd be keeping a close eye on the release of consumer price index data later in the month.

Thursday's gains were broad, lifting all but two of the S&P 500's sectors.

Utilities and consumer-staples shares, which investors tend to think of as defensive plays because of their relatively big dividend payouts, led the market's advance.

Meanwhile, growth stocks, which tend to be sensitive to rising interest rates, were among the bigger decliners in the market.
Besides fees, what are the other factors you'll need to consider while choosing a local cash broker? 🤔

I've dug in to the fine prints and details of the biggest 4 cash and custodian local brokers to save you the headache.

Compare these 4 local cash brokers now! 👇
Breaking News:
Secretary of the Treasury Janet Yellen said that deposits at the Silicon Valley Bank (SVB) and Signature Bank will be protected.

She added, "Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law."

The S&P 500 futures is up 1.31%.
The US stock market now opens at 930pm.
Stay safe!
After enjoying a 7-0 win over its archrivals, Manchester United, Liverpool went on to lose to a team ranked 18th in the table.

This season, Liverpool has been plagued with baffling inconsistency.

Just a couple of years ago, Liverpool steamrolled their way to being crowned champions. 🏆

This year, their hopes of finishing even 4th in the league is slender.

While the S&P 500 has been weak for the past 3 weeks, this stock in the sporting industry has been rocketing. 🚀

It's pulling back, which could provide an excellent opportunity for a swing trade.

I share my thoughts here. 👇
𝗪𝗮𝗿𝗻𝗶𝗻𝗴 ⚠️⚠️

It has come to my attention that some scammers have been impersonating my trading community & I to run some ridiculous investment schemes via Telegram Groups.

𝗧𝗵𝗶𝘀 𝗶𝘀 𝗻𝗼𝘁 𝗺𝗲, 𝗻𝗼𝗿 𝗺𝘆 𝘁𝗿𝗮𝗱𝗶𝗻𝗴 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆. Money don't drop from skies, and no investment can guarantee you a profit. Only a ponzi scheme can guarantee that.

Please exercise caution, and know my team and I will 𝗻𝗲𝘃𝗲𝗿 𝗗𝗠 𝘆𝗼𝘂 𝗱𝗶𝗿𝗲𝗰𝘁𝗹𝘆 𝗻𝗼𝗿 𝘀𝗼𝗹𝗶𝗰𝗶𝘁 𝗳𝗼𝗿 𝘆𝗼𝘂𝗿 𝗺𝗼𝗻𝗲𝘆 𝗳𝗼𝗿 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁.

𝗜 𝗱𝗼𝗻𝘁 𝘁𝗿𝗮𝗱𝗲 𝘄𝗶𝘁𝗵 𝗼𝘁𝗵𝗲𝗿 𝗽𝗲𝗼𝗽𝗹𝗲'𝘀 𝗺𝗼𝗻𝗲𝘆, 𝗼𝗻𝗹𝘆 𝗺𝘆 𝗼𝘄𝗻 😒

When unsure, always check with the official sources:
Facebook -> @swimtrading
Instagram -> @jaytunzy, @swimtrading
We are in turbulent times.
Please place a stop loss and take smaller positions if you must.
Morning Wrap:
A consortium of 11 US private banks, including Bank of America, Citigroup and JPMorgan Chase, announced they would deposit $30b into First Republic Bank.

Wall Street cheers for Bank's package, with tech leading gains.
What a chaotic week it has been! 🥴

In the midst of the banking crisis, this semiconductor stock has been soaring 14% in the background. 🚀

More impressively, it has a market capitalization of more than $157b!

Find out my thoughts and the price area that you'll want to watch now! 👇
What's your favorite yo yo trick?

The US stock market yo yo-ed last week, much to the frustration of many traders. 🔼🔽

However, I think that this mega cap healthcare stock makes a great candidate for a swing trade.

Read all about it now! 👇