Market update: Gamma squeeze observed in AMD, Elon Musk files lawsuit against OpenAI, and unexpected developments in Apple
2 mins
Published by: Markus Ivakha
07 March 2024, 11:06AM
Gamma squeezes observed in AI stocks like AMD, driven by investors shifting from NVDA.
Elon Musk sues OpenAI over prioritizing profits above humanity.
Unprecedented downgrade of Apple by a major Wall Street bank.
Fed officials express cautious optimism on rate cuts.
ISM Manufacturing Index and University of Michigan Consumer Sentiment data out today.
To gain an edge, this is what you need to know today.
Gamma Squeeze
Gamma squeezes are taking place in many AI stocks, driving them higher, including Advanced Micro Devices, Inc. (AMD). Here are key points:
- RSI on the chart shows AMD has more room to run.
- Investors who missed out on NVIDIA Corp (NVDA) are turning to AMD, fueling a gamma squeeze.
- Elon Musk's lawsuit against OpenAI for prioritizing profits over humanity.
Recent Market Developments
- A major Wall Street bank downgrade on Apple Inc (AAPL).
- Fed officials expressing cautious optimism about rate cuts.
- ISM Manufacturing Index and University of Michigan Consumer Sentiment data releases today.
Magnificent Seven Money Flows
In the early trade:
- Positive money flows in NVDA.
- Neutral flows in MSFT, AMZN, and META.
- Negative flows in AAPL, GOOG, and TSLA.
Momo Crowd And Smart Money In Stocks
The momo crowd is actively buying stocks in the early trade, while smart money remains inactive.
Gold and Oil
In the early trade, buying pressure is seen for gold and oil, with smart money keeping a watchful eye.
Bitcoin Overview
Bitcoin is range-bound, awaiting weekend moves from large investors.
Protection Band And What To Do Now
Considering a protection band to balance risk and reward in the current market conditions is advisable.
For more insights and recommendations, sign up for the Generate Wealth Newsletter.
User Comments
There are no reviews here yet. Be the first to leave review.
Hi, there!
Tags: