♟ Meme Traders Just Got a Rude Awakening

Let's capitalize as the Reddit crowd gets crushed.‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

Editor's Note: Great news! Your Trade of the Day format has been updated! Please enjoy our cleaner, easier-to-read issues - starting today! - Bryan and Karim "Let's capitalize as the Reddit crowd gets crushed." Bryan Bottarelli, Head Trade Tactician For all the meme stock traders out there, it wasn't supposed to go like this... But that sound you hear - of a fist punching a face - is the sound of reality setting in. You see, this is Wall Street, not a fantasy land. The number on your brokerage account is real - it's not Monopoly money. Meme traders are now starting to realize the difference - and it'll leave a mark. A big, big mark. Here's what happened... Last Friday, popular Reddit stock SoFi Technologies (Nasdaq: SOFI) was due to report earnings. As a brief review, SoFi operates an online platform that provides student loan refinancing, private student loans, personal loans, auto loan refinances, home loans and mortgage loans. It became popular because many of the millennials on the stock chat boards who are saddled with debt used SoFi to refinance their student loans and thanked the company by pumping it up - thus, turning it into a meme stock. Note: SoFi also offers the SoFi Weekly Dividend ETF (NYSE: WKLY), which is an equity exchange-traded fund (ETF) that provides a weekly dividend payment to shareholders. This has pushed the company into the robo-advisor sector - which I actually find attractive. But that's for another article. Back to SoFi's earnings... SPONSORED Former CBOE trader reveals #1 stock EVERY WEEK! It's delivered an 83% win rate, but he guarantees he'll beat that! Watch how he does it...

Going into the earnings report, the chat boards were pumping the stock - and it was rising. A user named "simplyMe1222" posted that he put $20,000 into SoFi options - and they were up 70% before the earnings report. But he was still holding through earnings. He said, "SoFi $20k 8/20 Options up 70% but holding through earnings 🚀🚀🚀 wish me luck. YOLO." With all apologies to this fella, when it comes to Wall Street, luck isn't how you keep the register ringing. I'm sure you know how this story ends... Last Friday, SoFi reported a loss of $0.48 per share - which was far worse than the expected loss of $0.06 per share - and the shares fell 14%. Ouch. For the chat board junkies, this was a devastating loss. But for us, the blood in the streets could spell opportunity. Check out the chart below... YOUR ACTION PLAN One of my favorite pieces of trading advice is this: Set your buy orders where everyone else is getting stopped out. This could be one of those situations. At the $14 level, SoFi looks to have buyable support - so that's the level I'd be tracking for a dip-buy opportunity. Let's capitalize as the Reddit crowd gets crushed. Dipping a toe into SoFi around $14 is a perfect example of this plan in action.

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MONDAY MARKET MINUTE China's online shopping growth dropped to just 4% in July, which pushed most of the stocks tied to a global economic recovery lower in premarket trading. Will the dip-buyers step in yet again? Tracking. Many believe that the Federal Reserve will start calling for the central bank to begin slowing its asset purchases in September, which could trigger the market's next "taper tantrum." If so, we could see another rush to safety as investors flock to inflation-proof plays. According to a new U.S. inflation report, prices for used vehicles have exploded 42% higher in the past year - which is fantastic news for the major used car players, like Carvana (NYSE: CVNA) and CarMax (NYSE: KMX). Both are names to track this week. INSIGHTS YOU MAY HAVE MISSED Unlock Extra Income From Your Favorite Stocks (Even if They DON'T Go Up) Cluster Buying: Following Insiders for Profits LEAPS: Play Your Favorite Stocks With Less Money Down Overnight Trades: Setting Up a LIVE Trade in Real Time

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