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24/7 Trade of the Day
Trade of the Day: iShares China Large-Cap ETF (FXI)
Today, I am recommending a bearish trade on the iShares China Large-Cap ETF (NYSE:FXI), a fund that tracks the results of an index made up of large-cap Chinese equities traded on the Hong Kong Stock Exchange.
Trade of the Day: Starbucks (SBUX)
Starbucks (NASDAQ:SBUX) has rebounded from its pullback last week, and it registered its highest close in months on Wednesday. We expect this bullish trend to continue into November.
Trade of the Day: General Motors Company (GM)
We feel that worsening export performance, slowing consumer spending in China, a cyclical slowdown in auto-sales in the U.S. and rising costs will continue working against General Motors Company (GM) this year.
Trade of the Day: Applied Optoelectronics, Inc. (AAOI)
Today, I am recommending a bearish trade on the Applied Optoelectronics, Inc. (NYSE:AAOI), a company that designs, manufactures and sells various fiber-optic networking products. While the major indices made recovered some of last week’s losses on Friday, there is still a chance that stocks could take another leg to the downside before they are able to stabilize.
Trade of the Day: SPDR Gold Shares (GLD)
Today I am recommending a bullish trade on the SPDR Gold Shares (NYSE:GLD), an ETF that tracks the price of gold.The market is definitely in a corrective mode right now and, while this week’s pullback is not as severe as the one we saw at the start of the year, there is a chance that stocks could take another leg to the downside before they are able to stabilize. I mentioned previously that the Fed’s interest rate increases are eventually going to cause deleveraging in the marketplace, and the action this week seems to bear that out.
Trade of the Day: Advanced Micro Devices, Inc. (AMD)
After a sharp decline at the start of last week, AMD attempted to stage a rally on Wednesday, but it has since given up all of those gains again. With the stock down about 23% from its recent highs, the stock has fallen into a bear market, despite the company’s advantage over the Intel Corporation (NASDAQ:INTC), one of its primary competitors.
Trade of the Day: Louisiana-Pacific Corporation (LPX)
Today I am recommending a bearish trade on the Louisiana-Pacific Corporation (NYSE:LPX), the North American manufacturer of building materials and products. The large-cap industrial stocks of the Dow Jones had been leading the charge last week, partially due to the new trade agreement between the United States, Mexico and Canada, though the index did fall slightly. I’m also still concerned about the trade situation with China, as that country is mostly likely not going to concede to the U.S., at least not anytime in the near future.
Trade of the Day: Mosaic Company (MOS)
Today, I’m recommending a bullish trade on The Mosaic Company (NYSE:MOS), which produces concentrated phosphate and potash crop nutrients. My indicators are still giving sell signals for the fifth week in a row, which is quite unusual and not a good sign for the bulls. The reason behind those sell signals is that we are in what I would call a split market. Looking at the New York Stock Exchange (NYSE), the ratio of declining issues to advancing issues was 3:1, meaning that for every three stocks moving lower, there was only one stock moving higher.
Trade of the Day: Emerson Electric Co. (EMR)
We are opening a new bullish trade on Emerson Electric Co. (NYSE:EMR). The trade deal with Canada announced today may not be materially different than NAFTA, but relieving that uncertainty is likely to have a positive impact on the market anyway.
Trade of the Day: Lennar Corporation (LEN)
Today, I’m recommending a bearish trade on Lennar Corporation (NYSE:LEN), a real estate financial services provider. Two areas of the market that have been hit hard lately are the auto sector, including the big names such as Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM), and the real estate sector, largely due to rising interest rates.
Trade of the Day: Marathon Oil Corporation (MRO)
Today I’m recommending a bullish trade on Marathon Oil Corporation (NYSE:MRO). Commodities are actually one area of the market that is presenting a real bargain right now, and as we enter October, a month in which several significant market crashes have occurred in the past, there is the potential that we could see some negative action.
Trade of the Day: Eli Lilly (LLY)
We are opening a new bullish trade on Eli Lilly (NYSE:LLY), the $106 billion manufacturer of pharmaceutical products. LLY skyrocketed higher after its last earnings announcement, in which the company not only beat revenue and earnings expectations but also announced it would be spinning out part of its Elanco Animal Health division in an initial public offering (IPO).
Trade of the Day: Zions Bancorporation (ZION)
Today I’m recommending a bullish trade on Zions Bancorporation (NASDAQ:ZION). ZION is a financial holding company whose assets total over $65 billion, and it serves a total of 11 states.
Trade of the Day: Verizon Communications (VZ)
We are opening a new bullish trade on Verizon Communications (NYSE:VZ). One of the interesting shifts in market sentiment we have been noticing during the past few weeks is an increase in demand for stable, dividend-paying stocks.
Trade of the Day: Etsy, Inc. (ETSY)
Both the S&P 500 and the Dow Jones set new all-time highs yesterday, and the S&P 500 Volatility Index (VIX) closed below the 12 level at 11.80, which is a positive sign. That tells me that traders are feeling comfortable at current levels, so I am going to recommend a bullish trade today on Etsy, Inc. (NASDAQ:ETSY) to play the current rally in stocks.
Trade of the Day: Home Depot, Inc. (HD)
We are opening a new bullish trade on Home Depot (NYSE:HD). The economics of business success always boil down to the simple concepts of supply and demand and, right now, HD is providing the supply of home-repair products and services while Hurricane Florence is providing the demand for those products and services.
Trade of the Day: Beacon Roofing Supply, Inc. (BECN)
Shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) fell 2% during Monday’s session, but the stock has been making a series of higher lows since August, and I’m expecting a further rebound into mid-October.
Trade of the Day: Adobe Systems, Inc. (ADBE)
We’re opening a new bullish trade on Adobe (NASDAQ:ADBE). ADBE released its quarterly earnings last week and beat revenue estimates by $40 million and earnings estimates by $0.04 per share — coming in at $2.29 billion and $1.73 per share, respectively.
Trade of the Day: Bank of New York Mellon (BK)
My indicators are flashing sell signals this week for the second week in a row, and that is typical for this time of year. The S&P 500 pulled back by about 2% during the first week of September, but we haven’t seen any severe corrections so far, and I think that’s probably unlikely at this point with the S&P 500 Volatility Index (VIX) sitting just above the 12 level.
