Weekly Raid Research Drop #2
The Weekly Plan
Happy Sunday Traders (Assuming you are in the US that is).
We have a few things to go over today and some planning to do for the week ahead. In addition, I started some new research and have a few scans I want to share with everyone. Let’s jump in
Week In Review
First up is a quick review of last week. Earnings continued to come out, and many of the companies beat on the top/bottom line or both. One standout earnings call though was WMT 0.00%↑ Walmart. They had a good quarter on both the top and bottom line numbers, but they issued very cautious guidance about the coming months/year. It caused the stock to drop in the sessions after the earnings call.
There can be a lot gleaned from the Walmart earnings call. They are usually the retailer that people flock to when times get tough, so when they are expecting a slow down, buckle up.
Even with the Walmart call, the market still finished the week green bolstered heavily by the better-than-expected inflation news that came out this week. I would just be skeptical of anything that comes out of any federal agency.
If you like what you are reading, please consider sharing the Weekly Raid. I am trying hard to grow this newsletter and have some exciting things in store. Thank you
This week has the Thanksgiving Holiday in the US so the markets will be closed on Thursday and very likely extremely quiet on Friday. We still have a few news announcements and some earnings due out. First up is the news. We have Fed Meeting Minutes, PMI, and Durable Goods.
In addition, we have some earnings out this week that could really move the markets.
NVDA 0.00%↑ , LOW 0.00%↑, and DE 0.00%↑ are the ones I would watch in particular. Nvidia had a blowout quarter last quarter and it was marred by some potential controversy about its sales. Any walkback on last quarter’s earnings or vendor updates I think could hit the stock pretty hard. In addition Lowes and Deere both are integrally connected to contracting, construction, and farming. So keeping an eye on how they think the next few quarters will go will be telling of the actual state of the economy.
There are some interesting commonalities between the volatilities of the FAANG stocks and some potential trading signals that can be made from the noise. The above just looks like nothing, but as the program develops I will keep the newsletter aware of it.
Finally, I got my Viking Pinch Scanner up and running. Currently, it is running on the 200 most popular stocks by volume. I am working on a way to make it more visually appealing and to be able to send out an email with the list of stocks daily. I will keep you all posted with that as well.
Last up is a recap of some of the trades last week.
BABA 0.00%↑ we are long for a small bounce play. I am in some December 85 calls but plan on ditching those after a 3-5% bounce on the actual stock.
I am also in some MCL - Crude micro futures calls for February. I am in 78 calls and I can see myself holding those through Christmas at least. A not on those, they are incredibly illiquid.
Finally, I sold out of half of the ENVX 0.00%↑ position to take a little bit of profit and look to reload lower. I also sold out of HE 0.00%↑ for a small loss on the equity. I still have faith that they will rebound. I just have other places to stick my money.
Trade well, Good Luck, and Happy Thanksgiving if you're in the US.