FDX has had recent issues with labor costs that drove the stock down. Strong day yesterday though and more consolidation from that move today. Death cross (100EMA crosses below 200EMA) is near and normally a bad sign. With this company already down 25%, it seems like the selling should be over. Keep your stops close though because if this is not the bottom,...
MA is another strong company with a great business. It has pulled back below the 200 EMA. Solid long term company to add on this market weakness. Consumer and business spending strength are not one of the issues facing our economy going forward (for now at least) which would make both MA and V good opportunities here.
UNH is an extremely strong and steady stock. It does not have many pull backs to the 200 EMA but every time it does, it is usually a great opportunity to add strength to your portfolio.
This is a perfect example of the manipulation that can occur in the market. They intentionally sold this down below the trend line and massive consolidation since beginning of 2020. It was done right before a massive announcement. It shows the importance of being invested in quality, buying at the right price, and holding through until you find fundamental reasons...
SPY looks ready to bounce here. Final push from bears but it does not look like they will get it unless we get another strong wave today. 200EMA is a decent bit below. $QQQ is at trendline support but could drop a little more and the SPY with it. Still in bull market but be careful not to catch the falling knife. Tight stops and strong set ups are what I am looking for.
Will this support hold is the key question? Trendline support can be strong especially if other indexes are at a bounce point as well. Time will tell but we are still in a bull market. I think we would need a black swan to drive this down much further than the 200EMA. Many stocks have pulled back over 10% inside this index if not 20%+. GLL!!
PLTR has dropped below this trend line. However I have seen many companies that have dropped just below this line and then rallies to new highs. It is done to wipe out stops near that trendline. Ridiculous but it happens. Keep an eye out. Great company but this treasury rate issue is causing problems.
I saw some good volume today with over $800K and $600K purchases in the last hour of the day. I followed the trade and bought some as well. I am concerned that the 100 EMA is about to cross the 200 EMA which constitutes the death cross. I like this price though and I could see it having some good moves over next few weeks. Treasury yields rising would also be a...
RGS has had a lot of talk recently on Twitter. Unusual Whales also posted a graph showing massive volume recently. Yields rising could cause an issue but this has already dropped a lot and todays movements in the broad market do not look like its going to get much worse. Over 20% short interest here. Easy to add a stop at this level to reduce your downside risks....
Ollie's has been beaten down for a while now. Sitting at $65 is pretty cheap. It has a buy rating through my firm and personally I think its a good business model. I really like TJX, AMZN, and other retailers but I do also enjoy finding cheap companies. Be careful with the recent rise in rates that could cause this to drop further. GLL!
MSFT could easily have another down day tomorrow or over the next few days to reach this level. Traders could wait to see but long term, there are not many companies that can come close to what MSFT does and the revenue they generate. Yields rising is an issue for tech but its not as big for MEGA CAP stocks like this, Google, etc. Unless yields rise sharply, I...
I really want to see this moon again just because its been a fun ride last few times. Let's go Rocket!!
Last October beat down a lot of small cap stocks before they started running. I would be careful here but breakouts have been happening in a lot of places. Beware of false breakouts but lets hope for a strong small cap run into February/March again!
MO has been in a consolidation range since the administration talked about banning menthol cigarettes. You could even use a spread since this is lining up well. The strength we are seeing in consumer staples would suggest this goes higher though. GLL
I really hope rocket does something fun here. This has been so painful for so long. If she pops big....steaks on me!!! GLL!!
Other banks are near a breakout point as well. Possibly looking at the big boy JPM and seeing if she can hold herself here. I hope so. Looks beautiful.
Warren must be up to something...or energy, financials, industrials, consumer cyclicals etc are all about to have some nice gains.
Nice move today in airlines and other industrials. These have consolidated for a while and I have enjoyed accumulating it for clients. They reduced their debt by $800M+ in 2019 DURING COVID!! Amazing company. Has room to run into the 70s into next year.