20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Earlier this week, CNBC’s Jim Cramer said the strong labor report indicates the opposite of Wall Street’s worry about Fed action leading to recession. Now, Tesla Inc. CEO Elon Musk has called his prediction “alarming.”
What Happened: On Friday, an X (formerly Twitter) user, Genevieve Roch-Decter, took to the platform and highlighted some of the key milestones of this year in terms of finance and economics, which included Goldman Sachs predicting point rate reductions in March, DOW and NASDAQ-100 hitting all-time highs and Cramer saying recession is not coming.
In response to the post, Musk said, “The Cramer prediction is alarming.”
In the comment section, many people trolled the host of CNBC’s “Mad Money” for his tendency to make wrong calls, like the time in 2012 he urged people to dump Hewlett Packard Enterprise Co stock, and within six months after that, the stocks of HPE ripped 110%.
This isn’t the first time Musk has taken a swipe at Cramer. Last month, the former hedge fund manager expressed concerns about Tesla being able to sell even a quarter of its estimated annual Cybertruck output, to which the tech mogul responded by saying, "This is a good omen! Inverse Cramer never fails."
Why It’s Important: Cramer’s viewpoints are at odds with other analysts. Earlier this week, veteran economist David Rosenberg raised a note of caution, saying, “Powell didn’t want to talk about a hard landing on the podium, but the Fed’s 3.8% nominal GDP growth projection for 2024 gave us the answer in any event… this has a 90% recession probability attached to it.”
Meanwhile, following the Federal Reserve’s announcement to keep interest rates unchanged and hinting that there might be three potential rate decreases in 2024, Jeffrey Gundlach, the CEO of Doubleline Capital, described the forecast as “pretty dovish.”
Read Next: SEC Vs. Elon: Judge Rules Musk Must Testify Again About $44B Twitter Takeover
Image Via Shutterstock
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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