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Last week was a painful one as the Nasdaq, tech and semiconductors retreated the most as bond interest rates rose and money shifted into post-pandemic stocks. Towards the end of the week, even the Dow Jones took a hit. Friday we saw bond yields cool off and the $QQQ saw a half of a percent gain.
Looking toward this coming week, futures are up. At the time of this writing, we are up across the board. The new $1400 stimulus check will start hitting people
's banks this month and this coupled with a cool of of the bond yields should show us some decent growth this week.
Oil is up 2%
Asia looks green
And the Nasdaq is leading the way in North America.
Crypto has suffered a decent decline over the past week, however BTC and ETH are both green as or Sunday night. They seems to be gaining momentum along with the indexes.
Friday this week will be the most important day with the non farm payroll report. Even if all the companies reporting earnings this week are good, we could see a shaky Friday if the jobs numbers fall short. I'll be treading carefully through this week and trying to dollar cost average into more of my longer term positions, as well as try to make a earnings report play or two.
$LMND Lemonade will be reporting earnings on Monday and there is a 11% short interest in the stock. 11% is not enough for it to squeeze, however if earnings are good, I want to pick up some calls again. I had cut my $LMND position last Tuesday during the dip - excited to get back into it. See the TA report here.
$SNOW Snowflake Inc. is an American cloud-based data-warehousing company that was founded in 2012. On Wednesday it will be announcing its quarter earnings. The consensus forecast is for Snowflake to continue reporting an increase in revenue but negative earnings per share. Wall Street is expecting earnings of minus-$0.17 per share on revenue of $178.5 million. This can be a good time to get cheaper exposure before a breakout. I'm not interested in holding through earnings, however if the estimated earnings is on target and tech is recovering this week, this could be a good fit for my portfolio.
Target Price: $450
Timeframe: 5-8 months
$COST Costco has taken a beating as of late, and come off of its high of $388. Thursday the wholesale giant is reporting quarterly earnings. I'm considering picking up some calls at the beginning of the week and holding through earnings, betting that it will be above average. Costco is in a position to do very well post-pandemic and is one of the best retailers in my opinion. $COST is trading under the 180 MA and could be one of the best recovery stock bargains. This is a mid-long term position for me.
Target Price: $400
Timeframe: 4-6 months
$LI- Li, the Chinese EV automaker, has reported excellent earning's and sales and has taken a bad beating, as well as all EVs. I expect it to make a significant bounce back this week if the markets are moving in the upward direction. $LI seems to always get the short end of the stick out of all the Chinese EVs. Still, I am seeing more and more of these cars on the streets of Shanghai, and they are my personal favorite.
$NIO- NIO has also taken a beating similar to LI. Currently it is trading at around $45 and that is a steal for the biggest EV luxury manufacturer in China. This should easily reach $60 level in the next coming weeks or months. These are bargains right now. Tread carefully though, if the markets aren't bouncing back these tech and growth stocks can be painful to be in.
$IDEX- Ideanomics, Inc. is a global company focused on facilitating the adoption of commercial electric vehicles and developing next generation financial services and Fintech product. The firm operates through the Mobile Energy Global (MEG) and Ideanomics Capital business units. Its electric vehicle division, MEG, provides group purchasing discounts on commercial electric vehicles, EV batteries and electricity, as well as financing and charging solutions. Most interesting to me is the wireless EV charging; this will revolutionize the charging industry. I'll be adding this to my watchlist, but won't be in a rush to get into a position. I'm more interested in buying around the 180 MA.
Target Price: $5.5
Timeframe: 4-6 months
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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