🧪 Recession-Proof Plays

Good Morning!

This week, we're diving into recession-resistant trading signals and taking the market's temperature. We’ve got the Nasdaq rebounding, Nvidia's nosedive, and Bitcoin’s steady climb. Plus, I’m putting my money where my mouth is with $ONDO and $PRO—both showing solid potential despite market jitters.

Let’s get into it 👇

🛑 Markets are down. Every single member in my TradingLab community knows what to do about it. You can too.

🌡 Market Temperature Check

Before we get into this week’s newsletter, I want to hear from you guys! Let me know what kind of content you prefer reading in the newsletter 👇.

📈 Nasdaq Composite Stages 1% Relief Rally as Traders Rush Back to Tech on Discount
The Nasdaq bounced back Tuesday, up 1% after Monday's tech bloodbath. Bargain hunters pounced, with Nvidia rebounding 4% after yesterday’s 6.3% plunge and Tesla up 0.9%. Despite the modest recovery, traders are still sweating over AI’s potential to actually boost profits.

📉 Nvidia Stock Falls 6.3% to $2.5 Trillion, CEO Jensen Huang Loses $6 Billion
Nvidia's stock took a nosedive on Monday, dropping 6.3% and wiping out $170 billion in market cap. CEO Jensen Huang felt the sting, losing $6 billion, but don't feel too bad for him—he's still sitting pretty with an $89 billion fortune, making him the 16th richest person in the world. Not bad for a guy who added $45 billion to his net worth this year alone.

😐 Bitcoin steadies at $56k as rebound slows
Bitcoin bounced back on Wednesday, climbing 1.9% to hit $56,952. Bargain hunters swooped in after the token dipped to $49,000 on Monday. The broader crypto market also saw gains slow, still feeling the heat from recession fears, Japanese rate hikes, and Middle East tensions.

📈 What I’m Trading

The Play

I put my money where my mouth is, this week in our TradingLab community.

I bought $20,000 worth of $ONDO and $PRO at these levels.

The Catalyst

Ondo Finance:
Ondo Finance is making waves with significant institutional backing. BlackRock recently deposited a whopping $8.1 million in USDC into Ondo’s platform. This move is a massive vote of confidence and supports Ondo's growing influence in the tokenized Real-World Asset (RWA) sector.

Propy (PRO):
Despite a recent dip, Propy has shown resilience over the past six months, surging nearly 138%. The price has found a support level at $0.94, indicating a possible floor. The nearest resistance levels are at $1.66 and $2.02. Technical indicators are looking promising: the 10-day and 100-day simple moving averages suggest a stable base, and the current RSI of 48.56 combined with a MACD level nearing zero hint at balanced momentum and a brewing bullish trend.

Our Take

Why $ONDO is a Buy:
With the recent BlackRock endorsement, Ondo Finance is positioned for significant growth. Institutional backing like this not only provides liquidity but also increases trust and credibility. This makes $ONDO a solid long-term hold, especially as the platform continues to expand its influence in the RWA sector. If the price drops, it's an even better opportunity to buy more.

Why $PRO is a Buy:
Propy has demonstrated strong resilience and potential for gains. The technical indicators suggest a bullish trend might be brewing. The support at $0.94 provides a safety net, and with resistance levels at $1.66 and $2.02, there's substantial upside potential. Given the overall market conditions and the recent price movements, $PRO is poised for a rebound, making it a great buy at these levels.

✍ TL;DR

Market Recap:

• Nasdaq Composite:

  • Staged a 1% relief rally after Monday's tech slump.

  • Nvidia rebounded 4%, Tesla up 0.9%.

  • Concerns over AI’s profit potential persist.

• Nvidia:

  • Stock fell 6.3%, losing $170 billion in market cap.

  • CEO Jensen Huang's net worth decreased by $6 billion, still at $89 billion.

• Bitcoin:

  • Steady at $56,952 after a 1.9% rebound.

  • Broader crypto market gains slowed due to recession fears, Japanese rate hikes, and Middle East tensions.

My Play:

• Ondo Finance ($ONDO):

  • Purchased $20,000 worth.

  • Institutional backing from BlackRock with an $8.1 million deposit in USDC.

  • Positioned for significant growth in the tokenized Real-World Asset sector.

• Propy ($PRO):

  • Purchased $20,000 worth.

  • Resilient performance with a 138% surge over six months.

  • Support level at $0.94, resistance at $1.66 and $2.02.

  • Technical indicators suggest a potential bullish trend.

Stay ahead, stay informed, and most importantly, stay profitable.

‘til next time,

TradingLab