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Yesterday tech and semis continued their upward push as cyclicals and the 10 year treasury fell were down at opening bell. Currently the 10 year is 1.621%. Today will be mostly overshadowed by this two day long Fed meeting.
“This Fed meeting is one of the most important ones for the market in a long time. It is the first we have had after the recent inflation rate rise and concerns about inflation,” said Tom Martin, senior portfolio manager at Globalt Investments in Atlanta.
Data showed that retail sales dropped in February and the winter storms in Texas led to a plunge in US factory output last month.
Notable Recent Picks:
Yesterday my portfolio finished up almost 1%, and that was due to mostly $SOXL and semis leading the way. It was up much more at opening bell, but the ARK ETFs suffered as the day went on. The only position that I had filled was the $EBON $10 PUT 30DTE at $2.50.
Adding to the Watchlist:
$VWAGY: Volkswagen AG, known internationally as the Volkswagen Group, is a German multinational automotive manufacturing corporation headquartered in Wolfsburg, Lower Saxony, Germany and indirectly majority owned by the Porsche and Piëch family.
After years as the undisputed king of the electric car, Tesla(TSLA) could be matched sale for sale by Volkswagen(VLKAF) as early as 2022, according to analysts at UBS, who predict that Europe's biggest carmaker will go on to sell 300,000 more battery electric vehicles than Tesla in 2025. "Tesla is not only about electric vehicles. Tesla is also very strong in software. They really run the car as a device. They are making good progress on the autonomous thing. But yes ... we are going to challenge Tesla," Volkswagen CEO Herbert Diess. “We will accelerate our transformation journey in 2021 and beyond,” Chief Executive Officer Herbert Diess told reporters. VW’s newly formed management board “is set to unleash value,” he said.
VW is really going to surprise a lot of Americans with how fast they will transform their fleet and with their EV sales in the coming years. Although I wish that Ford, $F, would make such a heavy handed push towards electric, they aren't and the next best thing to Tesla is more than likely going to be Volkswagen.
Volkswagen doesn't trade on the U.S. stock markets. However, you can buy it on the OTC exchange where it trades under the ticker symbol “VWAGY.” While volumes on the OTC exchange can be a concern, VWAGY stock has an average volume of over 350,000 shares, which looks decent.
I was skeptical at first because of the bad reviews on the ID.4, however the more I looked into $VWAGY the more I liked it.
Target Price: $90
Timeframe: 10-18 months
$FLGT: Fulgent Genetics is a technology company providing comprehensive testing solutions through its scalable platform. They provide physicians with clinically actionable diagnostic information to improve the quality of patient care. Fulgent Genetics announced that the U.S. Centers for Disease Control and Prevention (“CDC”) has awarded the company a contract to provide genomic sequencing of samples of SARS-CoV-2 on an ongoing basis, leveraging its Next Generation Sequencing (“NGS”) capabilities.
For me this is a short term play on this news. I'd be interested in a vertical spread or just a call. More or less, I think this will continue trading around the 50 day MA. (purple line)
Target Price: $150
Timeframe: 3-5 months
$CCIV: I believe that it is worth mentioning that this SPAC is in very, very good deal territory. After the merger was confirmed with Lucid Motors, this SPAC, almost overnight, dropped almost half. Now after this growth sell off and transition into cyclicals, $CCIV has lost out more. Considering Lucid will have cars on the street later this year, this is a great opportunity. If you've been following my journey, you will know this isn't the first, nor the last, time I've mentioned this SPAC.
During the last few weeks, we've had entries set around $24 - and earlier this year I was also buying it before the massive run up to $65 (taking profit). So far, I feel pretty confident calling this one.
$SOXL/SOXX: It is not a well kept secret that these semiconductor ETFs have been doing very well. Even yesterday most everything finished red, but $SOXL was up 4%. $SOXL was my best performer in 2020 by far. There is a global shortage of chips, and it is causing delays Tesla or NIO car productions, for example.
Believe it or not this dip we are in right now, was bigger for $SOXL than the Covid-19 dip from March by a noticeable amount. Companies like AMD, Nvidia, or Taiwan Semiconductor are not going anywhere, anytime soon and there will just be a bigger demand in the future, in my opinion. It seems that $SOXL is about to cross back above the 50 MA, which is a pretty big deal. I would be buying as much as I can and not looking back.
Note: Risk (1 out of 5) is my opinion of how risky the stock and these plays are; 1 being the lowest and 5 is the highest.
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