I'M SHORTING FDX STOCK

The stock market had a little flip flop today as stocks opened lower only to rally up and close red. The main focus was Jerome Powell and his testimony before congress, however the morning got started with a pessimism towards recession odds. The market got a boost when Powell reaffirmed his commitment to inflation and his slight acknowledgement that a recession is possible made sure things didn't get too out of hand. In the midst of all of this though, it helped overshadow some of the catalysts lurking around the corner, namely earnings. Although Powell was important today and will be tomorrow, I decided to short FDX stock and focus on the earnings as a big catalyst this week as more data from companies will confirm or deny any inflation or recession narratives. I go over my portfolio and how I did the trade, but my main logic is that FedEx stock is at a multi-year support level and this earnings can cause a move near the 9% the options market is expecting. I also go over my WFC stock and bank trades for the stress test & then how I will be focusing on oil stocks. EITHER WAY ITS GOING TO BE EXCITING SO I HOPE YOU ARE READY! POST YOUR WATCHLIST BELOW AND SEE YOU IN THE MORNING!

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