Besides the Big Tech Earnings this Week, I am Keeping an Eye On Two Companies that I Have Been Following for a While. Both Are In the Consumer Cyclical, Retail Sector. I Have Jumped In and Out of One, and Have Never Invested into the Other. The Two Stocks Are: RH, Formerly Known As Restoration Hardware, Now Just Simply RH, and LULU (Lululemon Athletica, INC.) RH is the Company that I Have Invested in the Past, and LULU Has Never Seen a Dime of My Money. Both Companies Share Prices have Pulled Back Considerably from All Time Highs. IMO These Companies Have a Loyal Following. Also, The Demographic that Shops at these Two Companies are Not as Effected By an Economic Downturn as the General, Median Population Is. I Think that If the Market Volatility Continues, and It Causes RH, and LULU to Fall into the Upper 200s per Share, than that is Too Good of a Price to Give Up on These Two Companies for the Long Term. There are Plenty of Opportunities Out There in the Markets. One Does Not Need to Only Buy Big Tech To Win in This Market. Once Again This is Just My Opinion. -IndependentCandy14
CHGG (Chegg, INC.) Has been Added to My Watchlist. I will be keeping a close eye on CHGG. I Think it can be a Solid Long Term Winner. My Analysis is Posted on My Investing Journal Thread: https://stockaholics.net/threads/independentcandy14’s-investing-journal.12735/page-3 Post #46. -IndependentCandy14
Thanks Emmett, that is now on my BUY list for Monday. For anyone interested, maybe check out PSEC aka Prospect Capital The only other stock on my BUY list for next week, other than my regular weekly contribution to my Top 15 picks, is PRTY. I made a nice jingle last week when I bought at 3.05/sh and sold at 3.50/sh (close to its weekly high). PRTY also has their Earnings Report release Monday morning, Pre-Market. Weekly Contributions This Week: NKE TSM GOOGL BLK PLD CRWD V CVX TXN TSLA FB ALLY ABT OXY CVS
Anyone playing the PRTY dip? PRTY dropped like 63% yesterday as a combined result of a missed/negative earnings report and amplified by a down day in the market. I ended up buying heavy at 1.37/sh, which turned out to be a bit high as it hit a low of around 1.07/sh. However it is rallying nice today up 15.5%, or 1.36/sh. So I am about even. I see room for about 20-35% more recovery in price. I will be looking to sell around 2.00-2.25/sh
Here are the names I believe are most likely to trigger in the coming week...but with the volatility we've seen, anyone's guess is as good as mine. You'll notice a general theme here: if we see a little more upside from the Thurs/Fri pop, these names should reach back up to levels of prior support or resistance, at which point I'll short because I still believe the broader market downside is not done just yet. CVX Best Short: $174.75 Mid Short: $171 Low Short: $169.50 First Cover: $151.36 Major Cover: $140 KHC Best Short: $48.18 (Gap-fill from collapse on 2/21/2019) Mid Short: $45 Low Short: Any upside to the Mid Short First Cover: $40.50 Major Cover: $37.50 MKC Best Short: $107.35 Mid Short: $105.50 Low Short: 101.50 First Cover: $95.89 Major Cover: $91.50 MMC Best Short: $183.14 Mid Short: $172.15 Low Short: Any upside between 161.15 to 164.97 First Cover: $151 Major Cover: $142.80 MET Best Short: $73.18 Mid Short: $67.50 Low Short: $64.73 to $65 First Cover: $57.05 Major Cover: $53 PRU Best Short: $122 Gap Short: $115.83 Mid Short: $109.83 Low Short: $105.50 First Cover: $95 Major Cover: $75 RJF Best Short: $115 Mid Short: $103.77 Low Short: $98 - $100 First Cover: $90 Major Cover: $81.96 Not charting these -- but if Oil gets to $114 - $115 then I'll short USO...and if NatGas gets to $8 then I'll short UNG Good luck to everyone this week, V
If we see a little upside this week, these names should move to key resistance levels...before pulling back per the broader market trend. MRK Look at the extended move on this one...completely unphased by last week's bloodbath as it reached new ATHs. It stalled out after basically putting in the same-size move (price-wise) as it did back in Fall 2021 (blue box). There is also a huge RSI & volume divergence going on here; the April pivot high came with an RSI of almost 90 & above average volume...where now we're at RSI 71.5 on below average volume. I'd really like to see this get to $95 or even $96 before I pull the trigger on my first short position. RE Another one I'll watch closely on Monday to see what it does. Technically, it broke down on Friday by closing below a very long lasting support TL. If we see some upside next week, a first short could be a return to the 200 DMA at $276.77 -- or if we get a bear market rally, then the 20 DMA at $280.56. I don't love the angle of its resistance TL right now (too steep), but the TL is "backed up" by converging MAs right above it. I do like how there is major upside resistance at $307.76 (which would put in a triple top). In summary, this is intriguing, especially if we do see some upside next week and this can move up to those MAs, which would give me a better shorting opportunity. The light volume does make me a little skittish...most days it isnt even doing more than 300K. HOLX Best Short: $85 Mid Short: $83 Low Short: $80 First Cover: $68 Major Cover: $60 MRO (Weekly Chart; better data) Best Short: $41.92 Mid Short: $35.78 75% Fib Short: $30 - $32 Low Short: $28 First Cover: $22 Major Cover: $17.50 My biggest concern here is I'm already short USO, CVX, and UNG -- so one could argue adding this play may overexpose me. It is also interesting to note how Marathon is showing relative strength (in my opinion). Side note -- but as I look back on the previous week's radar -- I only ended up playing CVX....but damn did KHC, MKC, MMC, and MET play out pretty nicely...only if I had play along on those, too! Good luck to everyone this week, V
I wish I would have jumped in on BROS and/or LOVE before they rallied today. I love them both long-term as well as they both are wayy off their highs. BROS aka Dutch Brothers and LOVE aka LoveSac I will be keeping a close eye on GME as well for another possible entry point Bargains across the board right now, the question is is whether or not there is room for them to go down even further. I think tomorrow is going to be a rough day for the markets. Definitely going to see some correction as some view todays rally as an opportunity to cash out and save face before the market heads even lower. I most likely will be exiting my positions tomorrow during that 1st-2nd hour of trading when things are generally at their peak for the day. I have been noticing, at least over the last few months, that majority of the action happens in those first 1-2 hours and then it spends the rest of the day either working its way slowly back to baseline or climbing its way back up towards 0. obviously this doesnt always hold true, probably not even 50% of the time. but it is something I have noticed and profited off of several times, understanding that that 8:30am price may be the highest (or lowest) of the day.
Here is one of the names I'm watching for next week: EOG (Weekly Chart) Short: Ideally, $144.25 -- but honestly, I'd enter a 1% position on pretty much any upside First Cover: $130 Major Cover: $120 This feels like a no-brainer. Yes, energy & commodities are the "hot" sector right now, but perhaps this is because institutional money has to park somewhere? Given how the SPY, and especially the QQQ, is performing, those 2x sectors are the "safe" play right now. If true, then as soon as big money can cycle elsewhere, this 'house of cards' being built inside the energy & commodity sectors will come crashing down. Hope everyone is having a great weekend, V
Next week, nothing. I will hang around a little bit Monday and see what happens but if I see RED, ill be settling up. BLK has been treating me well. My picks are all pretty long-term at this point; BLK ALLY GOOGL PSEC LOVE (definitely exiting Monday) BAC I am definitely heavy in the financial sector right now. It seems like the only safe bet. I dont like the entry price on Energy stocks now, I feel like that bull has come already and while it will likely still see gains, I dont like the potential volatility. Seems like a good time to cash out and watch. There's a lot going on right now that I don't like. And how will this Ukraine war end?
Short term earnings plays. Calls in for Monday. Main criteria is high turnover (float / 35day avg volume) and solid strength up. . . Puts based on long term chart weakness. Below 30wma and solid strength down. . . Ask question if you want. These orders expire at close Monday if not activated. I will start over Monday night with a blank sheet of paper. On calls I price for a pullback of underlying. On puts I price for a bullish move of the underlying. I cannot get a feel for what this group is about so I am spitballing here. I am retired and somewhat stuck in front of my computer so have many hours a day for stock analysis and trading.
Pretty much on target there, just exchange ideas, post on the thread of what ever active stock is moving or in the news. People lurk to read opinions and see what is going on.
Don't know where daily thread is so leaving 1 here - TOST for tomorrow & next wk. Good Er. Most recent insiders buying couple days ago @ $15.44.
FedEx looked crazy today. I picked some up, but had to do it on margin. But there was no way I was letting that go unbought. I've got an additional limit order set in case it dives again, but that one will probably go unfulfilled - I can't see FedEx lingering at $150 even in this day and age of 'zero market capitulation' anywhere.
