Weekly Raid #39 - The Energy Crisis Evolves
Happy Friday Traders
This week felt like it shot by in a flash. It being a short week certainly didn’t help at all.
As always Fridays are a slow day for me trading-wise, but here are some things that I would look at if I were to actively trade today.
News of the day
None - We have no real news releases today. There are wholesale inventories out this morning, but I don’t expect much from that in terms of market-moving momentum.
Macro-wise there is a continuation of some stuff earlier this week. The Biden Admin has said that they will revoke all the remaining Arctic Oil and Gas leases granted by his predecessor. As a hunter and conversationalist, I think there is a lot of potential upside to that, doing that when we are in the middle of an energy crisis reaks of either incompetence or malice. I am not sure which one is worse.
In addition to that we have good Ole Jim Cramer coming out and saying that AAPL is a solid buy-and-hold stock regardless of the China news. Sadly that doesn’t bode well for AAPL. He has gotten to have one of the worst track records I have ever seen. Fading him will make you a lot of money (NFA).
Yesterday I only had a few trades. Flipped some AAPL calls to catch the knife for a quick 20+% and added to some longer-term holdings.
There are only stocks I would be watching today for quick trades, the first is NVDA. There is a lot of unsettling news lately about the earnings, the CEO, and insider stock sales. I have no way of knowing if the books were manipulated like a lot of people are saying, but it definitely looks like at least a related party transaction. What makes everything here odd is that the CEO has sold a ton of stock over the past few weeks/months on the pushes higher.
That does not pass the smell test, it screams of dropping a turd and having retail pay for it. Continuing to watch this in the coming weeks will most likely prove important.
The other stock is AAPL. With Cramer out and that being a pretty solid tenant in both the SPY and QQQ underlying index. It could provide a lot of trading opportunities.
Finally, It’s a Friday so don’t forget to take something and stash it into something longer-term. I am a fan of VOO, O, SPY, and SCHD. I also think that a particularly underrated option currently is just a high-yield savings account. Capital One offers over 4% on your money using their 360 savings account and it’s liquid and wired back to your bank in 3 days or less. Whatever you decide to do, just make sure that you put something towards your future.
As always trade well