The market was on shaky ground yesterday after Goldman Sachs CEO David Solomon said the Fed is unlikely to cut rates this year.

To make matters worse, the FOMC minutes indicated worries over the lack of progress on inflation.

A deeper sell-off was possible if tech’s biggest name posted a disappointing earnings report.

But they didn’t disappoint.

Naturally, the market was giddy, with several stocks up big in the pre-market.

But as soon as the opening bell rang, we witnessed non-stop selling for the session’s first hour.

AMD went from $173 to down to $160.39.

It was a messy morning…

So, what did I tell my Daily Profits Live Room?

First, the market was weak, which should be your guide when picking individual stocks.

So, despite the massive sell-off in tech stocks, I told them that now isn’t the time to play hero ball and buy the dip.

Of course, wanting to chase the big earnings winner was very tempting.

However, that’s not how I trade earnings winners.

And that’s not how I turned $37K into $2.7 million in trading profits in just four years.

In fact, I have no intention of trading any day-one earnings winners.

Why?

Because I need to see my setup.

What does that entail?

I want to see the stock hold its big move…

In other words, I want to see it consolidate for a few days.

If it can hold its price, I think the chances of it going higher are good.

It’s the same strategy I used for Celsius Holdings (CELH) after its earnings release.

And again in Pinterest (PINS).

You see, it’s an absolute crap shoot on what will happen to a stock ahead of its earnings release.

Sometimes, they will gap up and give the move back the next day…or they’ll gap down and rally.

There’s so much volatility that managing a trade responsibly is hard.

That’s why it is almost always better to wait to see if the move holds and then wait for the right trade.

You’re also giving yourself time for the option premiums to contract, giving you a better price.

Join me in the Daily Profits Live Room and learn how to navigate the post-earnings market confidently!

By focusing on post-earnings plays with strong momentum and reduced risk, we can confidently capitalize on the most profitable opportunities.

Don’t miss your chance to trade smarter and grow your account quickly.

Click here to find out how to get my next trade idea.