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24/7 Trade of the Day
Trade of the Day: iShares Transportation Average ETF (IYT)
This week’s breakout in transportation stocks confirms a short-term “Dow theory” buy signal. It’s not the best timing indicator, but a signal like this does have a positive correlation for a move in favor of growth stocks, transportation and industrials.
Trade of the Day: Industrial Select Sector SPDR Fund (XLI)
XLI is at a point with a lot of overhead resistance, and has been making a down-slanting trend, with tops lower than the previous tops.
Trade of the Day: Exelixis, Inc. (EXEL)
My indicators are giving bullish-to-neutral readings this week, a mild downgrade from bullish readings last week. The ratio of advancing issues to declining issues is not as strong as I would like to see.
Trade of the Day: Costco Wholesale Corporation Leads the Breakout
COST stock saw a nice lift on Wednesday, and one that now has it flirting with a breakout on its charts. Active investors and traders could look to trade Costco higher if it crosses that line.
Trade of the Day: The Russell 2000 IWM ETF Is on the Verge of an Important Breakout
The IWM ETF just last week closed at a fresh all-time high. From a trading perspective, this relative and absolute strength looks promising for higher highs.
Trade of the Day: Target (TGT)
President Trump’s surprise announcement this week about easing ZTE’s problems was unexpected, but it likely bodes very well for easing trade tensions with China. This is a good thing for discount retailers and apparel stocks like Target (TGT).
Trade of the Day: Goldcorp Inc. (USA) (GG)
Geopolitics will likely drive commodity prices higher in the short term. The U.S. dollar has been on a tremendous rally for a while now, but I think it will pull back eventually. When it does, that should also help to drive the value of oil, as well as gold and silver, higher.
Trade of the Day: Two Trade Ideas in General Dynamics Corporation
GD stock currently sits at an interesting technical juncture where two trades are setting up, depending on one's desired time frame, in General Dynamics.
Trade of the Day: Bank of America Corp Is Getting Back on Its Feet for a Trade
Stocks such as Bank of America Corp (NYSE:BAC) now are getting back on their feet after a choppy first quarter. Specifically for BAC stock a next upside target is well defined, just as a stop loss level.
Trade of the Day: Southern Co (SO)
With Treasury yields rising once again — the 10-year Treasury yield (TNX) is climbing back up toward 3% — utilities companies like SO, which rely heavily on their attractive dividend yields to attract buyers, are starting to fall once more.
Trade of the Day: Activision Blizzard, Inc. (ATVI)
Friday's labor report bodes well for consumer spending. We like ATVI as it bounces up from support following earnings.
Trade of the Day: Kraft Heinz Co (KHC)
I’m expecting the company to be pretty stable. And it looked like the shares were close to a bottom, which makes KHC attractive for one of my favorite bullish strategies.
Trade of the Day: Salesforce.com (CRM)
As data and technology become increasingly important, companies like Salesforce.com (CRM) are likely to see continued growth, which makes them an ideal target for bullish traders.
Trade of the Day: Short Alphabet Inc Stock for Value
Don’t avoid Alphabet stock following its mixed earnings report and weak reaction, embrace GOOGL with a moderately bearish long put spread.
Trade of the Day: SPDR Gold Trust ETF (GLD)
We like SPDR Gold Trust ETF (GLD) calls at this level as prices meet support near $124 per share, and our initial target is the top of the current channel near $128.
Trade of the Day: eBay Inc Stock Is a Short
Through the lens of technical analysis, EBAY stock left behind what we call a bearish outside reversal candle, which (as the name indicates) should point the stock to lower levels.
Trade of the Day: Macy’s Inc (M)
It looks like cutting taxes to the government and putting that capital back into the hands of consumers is having a large positive effect on the economy.
Trade of the Day: General Electric (GE)
We think that General Electric (GE)'s downtrend is likely to reassert itself and that the stock will break to new lows in the short term.
Trade of the Day: Covenant Transportation Group, Inc. (CVTI)
CVTI is growing earnings faster than all of the so called “FAANG” stocks – Facebook, Apple, Amazon, Netflix, and Google – combined.
