Trade of the Week
Seasonal Stock Setup: Hotel & Leisure Name Breaking Above Trend
Wynn Resorts (WYNN) – The travel and casino stocks have been showing relative strength in this market as of late and especially names tied to the China rebound such as LVS and WYNN. The seasonality favors an upside rally into late January and February for WYNN with...
Seasonal Stock Setup: Equipment Maker Running Green to New Highs
Deere & Co (DE) – The industrial stocks have recently held firm in a market that is more geared to money flows going to value groups and names with dividends. The trend should continue if yields are to test and break above 2.0%. I highlighted DE back in October as...
Credit Spread of the Week: Travel Growth Name Showing Relative Strength Building Base
Airbnb (ABNB) - Airbnb has been one of the less bad growth and travel stocks in the market the last 6 weeks since the pressures of both groups have been notable post Omicron and the growth sector selloff. ABNB has definitely pulled back off its early November peak...
Top Chip Play Back at Key Support
Advanced Micro (AMD) shares consolidating above the 21-week EMA and one of the healthier tech charts with the bullish 8/21-week EMA remaining in a bullish trend and shares not far from new highs. AMD is trading in a channel lower since the late November peak and...
Seasonal Stock Setup: Railroad Stock Breaking Trend into Strong Seasonal Time
Canadian Pacific (CP) - The railroads and transports in general are holding up well in this market with value still favored. CP has had strong January seasonality the last 5 and 10 years. Higher 4 of the last 5 January’s with an average return of +4.4%. Outside of the...
Seasonal Stock Setup: Consumer Entertainment Stock with Strong January History
Electronic Arts (EA) - EA had a fairly sideways year in 2021 but seems to be finding some support in the 125-130 range on recent dips. January sets up as a bullish bias seasonally for the name. The last 10 years being up 6 of 10 January’s with an average gain of...
Seasonal Stock Setup: Retailer Breaking Higher After Test of Long Term Support
Dick’s Sporting Goods (DKS) - Retail stocks pulled back like many other consumer sensitive groups to start the year but it appears short term levels have held and rebounds have begun. DKS itself is bouncing off its key 200 day EMA support near 107 which also has...
Seasonal Stock Setup: Healthcare Name Ready to Breakout of Long Base
Becton Dickinson (BDX) - Healthcare as a sector has held up quite well the last month and put in a bullish reversal candle on XLV today. Seasonally it lines up with strength in Jan-Feb as well with 8 of the last 10 January's higher for an average gain of +1.6% for the...
ETF Sector Relative Strength Corner: Base Metals Sector Ready to Build Higher
VanEck Steel ETF (SLX) - The SLX Steel ETF is a great broad based way to play the Materials group with a leaning towards steel and iron ore. It has seen a multi month pullback to long term support ahead of its 89 week EMA and the last 3 weeks has rebounded higher...
Top Leisure Play for 2022 Pulling Back into Value High
Live Nation (LYV) name that has consistently seen large call accumulation since early December including buyers across the February, March, April and July options. Some of the biggest notables include a $21M position in the September $115 calls, $3M in March $110...