Jul. 12 at 5:41 PM
$SNAP Just a heads up Bulls. The youtuber MeetKevin is saying that the Stock Market could be very bearish next week because Trump is about to place a 500% tarriff on China. These tarriffs are said to go into effect at the exact same time as our earnings report. Around July 30th/August 1st. Also FedEx is refusing to provide guidance for the rest of the year because no one has any money. Major layoffs. I learned a hard lesson. You can get wiped out by one trade, but as long as you have money you can survive to trade tomorrow.
I'm in Cash. If Snap gets slammed before earnings.
$7.50/
$8.00, I will play as a value trade because its hard to see it dropping to the 6's. However, if it stays above
$9 or go's higher, I will not play earnings because of the possibility of it dropping back down to
$8 or lower.
Conclusion: for much of the quarter Snap trades sideways and is very predictable. As long as you have money, you can eke out a living on this one ticker, be careful.
