This past week stocks recorded their worst performance of the year largely due to rattled investors among escalating trade tensions between the US & China. We saw the market slammed after the Fed decision to cut rates Wednesday, which was seemingly priced into the market, and bulls didn't get the concrete rate cutting schedule they so badly desired, causing the first reaction to be a sell off. This action was followed by a strong reversal in the market Thursday as stocks climbed, until Trump unleashed another series of tariffs on China, increasing them by 10% on $300 Billion worth of goods sending stocks down the gutter.
With a huge run up into the Fed decision, we were ready for the market's down move and did a great job of taking profit and raising cash as a collective on Wednesday and Thursday, so the group didn't feel too much pain into the market weakness, which I always look at as a win in itself.
I plan on heading into next week somewhat risk-off and ultra selective as we just saw the market fall from resistance and haven't gotten any signs of a turn around just yet. There are a ton of earnings names showing great relative strength that will surely take off once the market stabilizes.
We have another huge week of earnings ahead of us with, I kid you not, 1,124 publicly traded companies reporting this week. So there will be a ton of names flying around regardless of the market action.
Some big names I'm looking forward to this week are DIS, ROKU, TTD, CYBR, UBER, LYFT, DBX, MTCH, SHAK, FNKO, SWAV, INSP, WK, SRPT among many more!
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