Chicago lumber futures were trading around $950 per thousand board in March, buoyed by robust real estate markets and expectations of a swifter economic rebound fueled by massive government spending and vaccine rollouts. Covid is also causing lumber shortage and shipping problems. LL has a nice bull flag on the weekly, look for break above $26.5.
NSC - Ascending triangle, Rail sector news. Canadian Pacific Railway (CP) To Buy Kansas City Southern (KSU) In US$29 Bln Deal. NSC is forming an Ascending triangle on daily TF. There will only be 5 rail stocks left with a positive ROI, based on Finviz.com screener.
There's a secret sector most people dont talk about and its the RV sector! Due to covid, its the only way to get away and vacation, lol. Thor reported earnings last week and said RV backlog increased by $4.31 billion, or 454.1%, to $5.25 billion at January 31, 2021, compared to $948.1 million as of January 31, 2020!! CWH - camping world holdings rose 30% just last...
Congrats if you survived last weeks blood bath! We have had BTD (Buy the dip) scenario after every pull back for 4 years. Last week was not buy the dip. The reacted expecting higher interest rates to weigh on stock prices by making bond investing more comparatively attractive. The 10 year treasury note hit a high of 1.55%. FOMC decision is March 17th. Now, Google...
Kohl's raised earnings expectations heading into Tuesday morning from previous quarter. Revenue expectations are $6 billion, March 2020 was $6.54. The options put call ratio is bullish at .30 . There are 2200 $ 57.50 calls sitting in March 19 open interest. Good luck this week!
ETH - Previous resistance, now support at $1400. Major selloff in all assets, equities and cryptocurrency due to rise in US 10 year bond yield. If ethereum breaks $1400, look for the Fib level .618 at 1335 next support. Overall, looks like head and shoulders forming on daily chart. My portfolio was down 8% this week. Good Luck!
Copper futures at 9 year highs and all time high is around $4.65, FCX is the world's largest publicly traded copper producer. It is following the price of commodity. Demand for copper from renewable sector is growing as new power generation capacity addition renewable energy (China/India). Options - The March 19 $38 calls traded over 11000 times, over 34,000 in...
TTD crushed earnings on Feb 18th by beating eps by 60%, revenue by 9% and guided higher next quarter. MGNI provides sell-side advertising platform (ER on 24th) for possible earnings run up and same sector play. The open interest for March $60 calls is over 6000.. KBNT is another stock in the tech ad sector, but it already gapped up over 80% last week. APPS gapped...
UAL - United airlines has a bullish Inverse head and shoulders pattern on daily chart. Options flow - Over 27,000 June $50 calls traded friday. 6000 $45 April calls traded vs 8 in open interest. More flights starting as more vaccines get to people , you could call this a "re-opening" trade. I own march calls in JETS etf. Cheers!
This canadian bitcoin miner has formed a nice cup and handle on the 4 hour and daily chart. I prefer handles that do not go past the 50% Fib retracement. Potential catalyst would be uplisting to Nasdaq exchange from OTC for US traders and the OTC symbol is HUMF. I like MARA RIOT and HUT here in bitcoin mining sector. HUT has $48 mill net cash , while Mara and Riot...
A trading strategy of mine is the "laggard" play. when a stock in 1 sector does well, the rest do well in that sector. So, BTC and ETH have gone past their all time highs. LTC is the laggard waiting to hit all time highs. The Feb 19th 2018 high is $250, so I think that is next target or LTC. ALT coins had a major run and a pull back is likely. I like DASH coin as...
SHOP has been a beast for along time! It has runup 25% just in February, so be careful for earnings on Feb 17th. The past 3 days show a bearish evening star pattern (not 100% perfect). I calculated the implied move to be 6% or $90 dollars. Options - 1068 in $1500 weekly calls, over 1600 in $1200 weekly puts. If you know how to play iron condor, I think that is...
Happy Sunday! I am looking for gambling sector to break out here after the Super bowl and PENN earnings last thursday. The options flow is very bullish with February put call ratio at .34, March P/C ratio at .32. The highest OI is in the Feb $65 calls and March $70 calls. Feb 4th, DKNG agreement with the National Football League (NFL) to expand their current daily...
Alteryx, Inc. provides self-service data analytics software platform. They have beaten 4th quarter earnings for past 3 years and Im looking for them to beat again. They have just broken out of triangle pattern on daily chart (could also be double bottom pattern). The Feb options put call ratio is high at .97, so risky to hold thru earnings. $130 calls and $130...
Vroom is a e-commerce platform for buying, selling and trading-in used cars online. Earnings date on earnings whisper says Feb 17th , while tradingview says Feb 11. 1200 March $45 calls were bought Feb 5th at $6.7. The Feb put call ratio is .20 , short interest is 6.9% . Finviz.com has a $55 price target. I think we get a higher low on daily, then back up next week.
Amazon has been in a pennant pattern since october 2020, higher lows, lower highs. The Feb 19th options put /call ratio is .61 . I think they will beat eps and revs, due to COVID. People are staying home and shopping. Earnings - They might guide lower for next Q, thats where they could drop. I am currently in a bull put credit spread 2950/2940, taking advantage of...
Alteryx, Inc. provides self-service data analytics software platform. Recorded bad earnings last quarter and has wild 15-20% swings. Short interest is 8.7 %. I like this triangle pattern to breakout, as in my last post MSFT will post good earnings and benefit tech stocks next week.
Goodrx is in the cloud software healthcare sector. Nice looking bullish pennant (lower highs , higher lows) on daily with over 28% short interest. Finviz has a $48 price target. Microsoft has earnings next week, so they should push all SaaS/Cloud stocks next week. Good luck!