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24/7 Trade of the Day
GT Hasn’t Found a Bottom
Today I am recommending a bearish trade on The Goodyear Tire & Rubber Company (NASDAQ:GT). GT develops, manufactures, distributes and sells tires and related products across North, Central and South America. It also provides services related to its products and exports tires to other markets.
NJR is an Energy Company to Watch
Today I am recommending a bullish trade on the New Jersey Resource Corporation (NYSE:NJR), a natural gas distributor. Looking at commodities, oil is now in a bear market. It recently finished its longest daily losing streak on record before finding some support near the $55 level. That is a positive overall for U.S. consumer and the economy, but it’s certainly not good for energy stocks, which have also been hit extremely hard this month.
YELP Has Been Here Before
This morning I am recommending a bullish trade on Yelp Inc. (NYSE:YELP), the owner of the online review site of the same name.YELP is struggling after announcing it missed revenue expectations. The stock has fallen more than 30%, and the company lowered its fourth quarter revenue guidance.
No Relief in Sight for HOG Stock
I've said before that October is usually one of the best times to buy stocks. Stocks tend to rebound from oversold conditions, but I think the rebound may have gone too far too soon. The stock I'm looking at today is a perfect example. Harley-Davidson, Inc. (NYSE:HOG) rebounded from oversold levels over the last few trading days. The stock was hit hard by the correction in October, but this bullish move is over done for a few reasons.
This Cheap Downside Insurance Could Lead to Big Profits
I expect the market to recover from its recent selloff, but it may struggle in the near term. During the first few trading days of a new month, the market tends to enjoy a small boost as institutional investors deploy new capital. However, now that that bullish period is behind us, we are seeing a pull back.
A Bearish Opportunity in the Energy Sector
Last week I told you about why I like the health care sector. But there is another sector with a lot of opportunity for traders. Energy stocks struggled in late October, and today I am recommending a bearish trade on Newfield Exploration Co (NYSE:NFX), an independent energy exploration and production company.
This Health Care Stock Could Pay Off Big
Today I am recommending a bullish trade on AstraZeneca PLC (NYSE:AZN), a biopharmaceutical company focused on the development, discovery and commercialization of prescription medicines for a variety of diseases.
Retail is Rising, and This Stock Will Follow
Today I’m recommending a bullish trade on Ralph Lauren Corporation (NYSE:RL), a company that designs, markets and distributes apparel and lifestyle products. After dropping sharply on Tuesday after reporting earnings, the stock is showing several technical signs that it will rise through the end of the year. November and December are generally bullish months for the market anyway, and the company is in a good technical position now.
This Energy Stock is a Hidden Opportunity
We see a big opportunity in the petroleum refiner Valero Energy Corporation (NYSE:VLO). Looking at the daily chart of VLO, you can see that the stock has popped up off support in the aftermath of the company’s earnings announcement on Oct. 25. This is a good sign the stock is regaining some stability.
NSC Stock is Not Out of the Woods Yet
Norfolk Southern Corporation (NYSE:NSC) has rebounded from its October lows and has turned lower after tapping short-term resistance at the $172.50 level. We are expecting it to channel sideways for a while until the outlook for trade is clearer, and we are going to sell some call premium in the meantime.
Follow the Market’s Year-End Rally
This morning I am recommending a bullish trade on Zoetis (NYSE:ZTS), a $44.5 billion company that discovers, develops, manufactures, and sells animal health medicines and vaccines.
This Oversold Sector is Set for a Huge Rebound
We are recommending a new bullish trade on United Technologies (NYSE:UTX), one of the biggest providers of technology and services to the aerospace industry, with a market capitalization of approximately $102 billion.
Trade of the Day: General Electric Company (GE)
Today I’m recommending a bullish trade on General Electric Company (NYSE:GE), which is now down more than 10% this week after reporting disappointing earnings on Tuesday. This was the company's first earnings report under chairman and CEO Larry Culp, and GE missed Wall Street's third quarter earnings and revenue expectations. It also cut its dividend for the second time this year, this time lowering it to $0.01 per share.
Trade of the Day: Cintas Corporation (CTAS)
We are recommending a new bullish trade on Cintas Corporation (NASDAQ:CTAS) — a company you probably know best for providing work uniforms and laundry services for workers in the retail and dining industry groups.
Trade of the Day: MSG Networks Inc. (MSGN)
While there have been some exceptions in the past, I think the end of October is a good time to buy stocks. This is usually when the market hits its lows for the year before making a rally into year-end. I think that will be the case this time as well, but it’s hard to say how big of a rally we might get. If MSGN follows the market, it should close well above our strike price at the Nov. 16th expiration.
Trade of the Day: Semtech Corp (SMTC)
This morning I am recommending a bearish trade on Semtech Corp (NASDAQ:SMTC), an analog and mixed signal semiconductor supplier. With China still playing tough on trade, semiconductor stocks are still weak.
Trade of the Day: STORE Capital Corporation (STOR)
This morning I am recommending a bullish trade on the publicly traded real estate investment trust, STORE Capital Corporation (NYSE:STOR). While there have been some exceptions in the past, I think the end of October is a good time to buy stocks. This is usually when the market hits its lows for the year before making a rally into year-end.
Trade of the Day: Adobe (ADBE)
We own shares of Adobe (NASDAQ:ADBE) in our Strategic Trader portfolio, and we are now interested in selling a covered call against that stock position for two reasons.
Trade of the Day: V.F. Corporation (VFC)
Today I am recommending a bullish trade on apparel maker V.F Corporation (NYSE:VFC). VFC beat Wall Street expectations for the second quarter as demand for its Vans and North Face brands offset losses in other businesses like Timberland or Wrangler.
