Market Notes:
Some stocks that rely on retail sales have been getting hit pretty hard. TGT, ROKU, and PYPL all posted significant losses after disappointing earnings calls.
Energy, which has been flying high, took a dive too. Oil futures fell below $80 for the first time this month. Prices are down about 10% since making 52-week highs last week.
What’s the best anti-oil play right now??
Electric vehicles continue to outperform. Another IPO debuted yesterday SEV and closed up 150%. It’s up another 30% at writing. This is on the heels of TSLA’s break out to all-time highs and RIVN’s IPO. For whatever reason, the market isn’t letting up on EVs.
Bitcoin is recovering. It’s above $60,000 this morning as many cryptos appear to be turning back upward.
I have one conclusion from this comparison … The market wants high-risk high-reward trades. The right theme can deliver riches … But you have to follow the money.
I’m bullish, I’m risk on.
Watchlist:
*LTRY Reached a buy level for me on yesterday’s dip. This is a long-term swing trade.
*TRT has support at $8
*YQ is on watch
*SEV is on watch
*EYPT has resistance at $18
*RETO has resistance at $1.80
QUBT has resistance at $8
KZR has support at $13
SNII has support at $12
TCDA has resistance at $8
INDI has resistance at $16
VUZI watching for a setup above $15
OTC Stocks, No Levels:
ELEK, DPLS, LIACF, OZSC, LIVC