Morgan Stanley + BP

October is here! Do we know what that means?! Of course we do...it's sizable last month of the year for big earnings to come. This month is full of banks, energy, tech, the magnificent 7 and many heavy hitters / market movers having earnings. This is a great time to easily play the field on pre / post earnings.

Let's begin.

First we start with Morgan Stanley (MS). Have you heard what they have been up to. Well their analysts are making really smart plays and in turn making sizable profits for MS and their clientele. That's what everyone wants. And it starting to make news ripples. Also another thing that we want. News creates hype. News creates volume. News creates plays on the market.

So how can we play this? First, Morgan Stanley is having earnings coming up on Wednesday, October 16th. FUN right! Before we decide what to do here...let's check out the chaaaaaaaaaarrrrrrrrrts.

My goodness! A massive gap up occurred Friday morning coming off of the close to Thursday. And while we may expect that GAP to come down on to fill the gap, which it attempted on Friday. It didn't come close but instead it ended higher that is began on Friday. This tells us that there is some seriously strong bulls / momentum pushing this up.

Now let's build a greater case here and take a look back in time when we were here before.

Way back when (as my daughter would say) in 2022 we were at an all time high. We almost kissed that all time high in June. And now we are less than 2 points away from that all time high again.

If we consider this from a resistance level, the support for this is currently stronger than the resistance. This means it is about to push thru that all time high and if there was ever a time to do break thru this ...it would be now due to the fact that we are leading into earnings with more room past earnings...especially with the hype that is being created.

I see this as a buy and for easy short gains post earnings.

Ok this next one is for paid members folks...I'll share results of these as we continue but in the meantime members only.