The Market Dipped, These 3 Names Didn’t
While the broad markets were weak today, there were a few stocks that stood out. We’ll see if they have more to offer as we round out the week.
While the broad markets were weak today, there were a few stocks that stood out. We’ll see if they have more to offer as we round out the week.
MDLZ has been stuck sideways and just came back down to support, and so far it is holding. I have bullish signals on the Compound Breakout Tool, squeezes stacked across the board, and some recent True Lows. My line in the sand is $60, and I walk through both the quick scalp and the bigger picture version of the trade.
I found NEO on the options earnings calendar and the post earnings history is what caught my eye: a 15.4% move and a 13.6% move off the last two reports, plus a breakaway gap. It has a high short float, a squeeze building, and another report coming, so I bought the shares today rather than wait for the pre-earnings run to start. I would rather be early than late.
The whole board is neutral except one thing: my Mag 7 index is reading 99 out of 100 while the S&P 500 sits at dead zero. Next week is Fed plus quarterly OPEX, so I walk through the primary long on MAGS, the escape plan in IWM puts if they hike, and one energy name if the market falls apart.