Did a little more buying today, but volume was low in market and most stocks. Investors may be scared of weekend surprises.
RDDT: moved above 200dma, stop loss set just below that.
CMG: moved above 50dma, stop loss set just below that.
MELI: (IBD position) added on low vol move into buy zone.
OKTA: bought on move above 50dma, stop loss below today’s low
SPOT: standing buy-stops triggered. No stop loss. Entered buy zone and fell below
HUBS: moved above 200, just below 50. Small add to a core position. No stop loss
ZS: Moved over 50dma a couple sessions ago and was trying to break above some consolidation with $216-$217 highs. Probably bought early. No stop loss.
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Put a small position in APP as it crossed the 150sma.
Yeah, I could buy that. PLTR has been strong, but the buy zone was $98-$100. HOOD also is strong and above 50dma, maybe a bit too far to use 50dma as a stop loss. Maybe it will make a little shelf here.
I had a buy-stop on HWM to catch the breakout. I did, but then it faded below, but still holding that and my early entry.
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Bought some more WGS and took a position in Hims today.
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Nice, crazy move in Hims, did they get an extension on producing GLP-1 knock-offs?
I really wanted WGS, but earnings are tomorrow so I resisted. Still like the looks of NGVC, earnings in 9 days. PLTR will not stop going up, but RDDT is getting ready to move above 50dma. HOOD is pausing and may give an opportunity to add.
TZOO rocketed above 200dma, but is only 5% above that, might be ok as a stop loss.
CCK shot up on earnings and is only 3% into buy zone. RS 76 with blue dot.
I added a tiny bit of MELI, I am being overly cautious for some reason. Got some TQQQ in case the rumor of a trade deal is true.
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It was crazy Pete, they are partnering with NOVO for GLP-1’s I figure this has a couple of days of upside in it.
I don’t think it is a bad idea to be cautious. This market could turn on a dime. If the trade deals start rolling in we could see a big move up but if they do not materialize we could see another leg down. I was thinking we would have a 3rd leg down last week but the market has been pulling me back in. Edit: Oh I am up 12 percent on WGS so I am riding it out. This one has kicked me out before but I think I have a good margin now.
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Well WGS beat on the top and bottom lines, guided up, and was hit with a short report. They claim that the Trump administration is coming after pharmaceutical companies and that WGS is going to be hit with a big fine. How do you see something like that or even know if it is true.?
I sold RDDT today. Did not want to hold it into earnings. A little gun shy after WGS.
I don’t think they are a pharmaceutical, they make DNA tests that “provide personalized insights for a spectrum of disease”. That tells me they can help save money by identifying the most efficient approach to deal with a certain disease.
WGS did close at the bottom of its range, if I was right, people would have also figured it out and started buying. So…
My RDDT hit the stop loss order and sold. It is up 5% after hours ;-(
PLTR had a pretty good upside reversal. It seems to be the number 1 heat stock at the moment.
HOOD also had an upside reversal and finished at 77% of the trading range.
Interesting that the XBI is not worried about Pharma rumors at the moment. But it seems it was for a while. All built into price now?
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Maybe I shouldn’t have said pharmaceutical. You would need to read the short report. But as you know Pete, short reports can really cause a stock to lag the market. It’s really to bad because I thought I had finally hit it right. On a side note I did like how the market came back. It looks solid. Pltr looks great I was surprised Hood wasn’t up more.
https://grizzlyreports.com/genedx-20250205/
Meta stock rose solidly in overnight trade as Meta Platforms earnings easily beat and revenue also topped. The social media giant also gave upbeat revenue guidance and raised capital spending plans. Shares fell 1% to 549 on Wednesday, closing off lows. Meta stock could test its 50-day line Thursday. [no, they were up 5.36 as of 8PM]
MSFT stock jumped in extended action, signaling a move above its 200-day line as Microsoft earnings solidly beat views. The Dow tech giant was bullish on the conference call. Microsoft stock edged up 0.3% to 395.26, finding support near the 50-day line. [No it was up 6.93% at 8PM]
SFM stock edged lower overnight, paring solid initial losses. Sprouts earnings exceeded forecasts and guidance was strong. Shares dipped 0.75% to 171 on Wednesday, ending a six-day win streak. Sprouts stock has a 178.99 cup-base buy point.
HOOD stock rose slightly in extended trade as Robinhood earnings topped earnings views. The stock-and-crypto trading app edged down 0.5% to 49.13 on Wednesday, well off early lows. HOOD stock has a 49.88 double-bottom buy point. Investors might want to use Monday’s high of 51.07. [up 1.57% at 8PM]
Howmet Aerospace (HWM), McDonald’s (MCD), Eli Lilly (LLY), Mastercard (MA) and Cardinal Health (CAH) report early Thursday, all trading near buy points or early entries.
Pete hold HWM, not too worried about earnings report.
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Oh man, was that a roller coaster. I curse myself every time I try leveraged ETF. I bought this Wed night. Today when I looked at my phone on my way back home, the market and this was ugly. I decided there was still enough potential good news that I would wait until end of day. That was a lucky decision as the market broke even. With META and MSFT up after hours, the QQQ’s are up. Plenty of economic reports in the morning to harsh that vibe so we will see.
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Decided to buy DRS breakout today. In aerospace group like my HWM, which I added to on its earning cap up. DRS is also up on earnings. Accelerating sales and earnings.
Added to SFM, having a nice outside up day on high vol (early though). Still moving toward the buy zone.
watching MELI for opportunity to add. AGX is datacenter related, in a stage 1 base and gapping above a “shelf” in the right side of base. Good growth ratings. APH also seems datacenter, good ratings, near a breakout and gapped up above a shelf. DOOR = DASH near breakout, it is a favorite of some of the IBD people.
I have buy stops for UBER and VRTX as well.
Update: my breakout buy stop for NGVC just hit.
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I bought LRN coming out of a strong consolidation Stage 1, I picked up DRS it was strong but it was in a stage 4 consolidation which made me a little leary but it had really strong volume and looks to be doing good after hours, I picked up HWM also coming off a stage 1 double bottom. All had strong volume today but HWM did fall off towards the end of the day. I bought all 3 at the closing hour. Noticed the S&P and the Nasdaq also came down towards the end of the day.
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I did try to add more to DRS near the top of the buy zone, but I have bought so much recently and I have two buy-stop orders (UBER, VRTX), that I did not have enough cash to add as much as I wanted. I figured I might need to slow down and wait for recommended exposure to catch up to me. But of course, it kept going up and is out of the buy zone. Both it and HWM are in aerospace, so I guess I have enough exposure there.
I am back to my old ways, I can’t seem to get a full position before the stock is beyond the buy zone. I am my own wall of worry.
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Especially when it has days like today.
And I got shaken out that day on the dip. And tonight, it is up 6% after earnings (of course)
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I bought GEV and Dash today. Dash was coming out of a double bottom and over the 200 dollar mark, stage 4 though. GEV came over the 400 dollar mark in a cup base.
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It’s weird but it’s down now. I would think with that type of growth it would be doing well.
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New Street Research analyst Dan Salmon said Reddit’s commentary on its earnings call Thursday blunted some of the enthusiasm to the report.
“Management revealed on the earnings call that (second quarter) to date DAUq (daily active unique users) growth has decelerated to high teens growth from 31% in Q1,” Salmon told clients late Wednesday. “The deceleration is being driven by a higher rate of testing on Google Search as it rolls out AI Overviews across different geographies, and Reddit can see the disruption in those markets. The tests are changing on a daily basis, and so the DAUq trend is very unpredictable right now. Search traffic tends to be strongest in the U.S., and it does includes some logged out users.”
It is a familiar concern. Debate about Reddit’s reliance on Google search referrals for user growth sank the stock following its fourth-quarter earnings report earlier this year. Reddit is taking steps to drive more users directly to its site and app. That includes a “Reddit Answers” feature that relies on AI to directly respond to queries based on previous Reddit user conversations.
But Huffman said “Reddit” remains the sixth most popular search term on Google.
“We have had a long and symbiotic relationship with Google,” Huffman told analysts. “So in summary, expect some bumps and expect us to continue to improve the product and lay the foundation for more consistency in the back half of the year and beyond. And our opportunity remains huge.”
Piper Sandler analyst Thomas Champion reiterated a positive overweight call for Reddit stock following the “impressive quarter.” But, he added, that “user growth friction” offset some of the excitement for the results.
Pete thinks this sounds like something that will pass. (It was up 18% after hours last night)
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