It’s Election Day, and the bulls on Wall Street celebrated with some early morning fireworks! Markets ran higher after a nice breakout on volume, with the S&P 500 jumping as much as 2% since Monday’s open! We saw more order flow in fintech names Tuesday, with Square parent company, Block, the focus of bullish headlines. Analysts at Australian financial firm Macquarie announced an upgrade of SQ, from “neutral” to “outperform,” just a day after CEO Jack Dorsey confirmed on Twitter that Block was on its way to becoming one of the largest “bank like” institutions. Dorsey is the former CEO and a current investor in Elon Musk’s takeover of Twitter. The news helped shares of Block surge nearly 5% from Monday’s closing price, setting off a flurry of bullish activity in the options... The midterm flow has been nothing short of phenomenal! Here are a few more trades that caught my eye...
When we see big volume hitting a stock, it’s usually paired with a big move in price… And right now — due to the elections — a lot of stocks are seeing significant volume spikes. For traders like us, this is a great time to leverage that volume in our strategies. If you’re curious what other stocks are seeing these outsized moves...
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