Fed, China and Delta

Here’s the observations for today

Updated: 2:00 PM

TLRY seems to be doing the right thing. The buy trade at 15.6 is working out well.

I will add Hasbro at the current market price.

CLF is one stock that seems to come back every time it declines. It is turning out to be the stock of 2021.

Two investment stocks that seem to be doing well: 1. AMD; and 2. Silvergate.

Five stocks poised to bounce back strongly from support: 1. BNGO; 2. CLNE; 3. XXII; 4. BB and 5. Tell.

Updated: 12:30 PM

Will AMD break past 98? If yes expect insane momentum

The company has come out with a brilliant set of earnings numbers. Sales doubled year over year. It’s a no brainer hold and if the breakout happens, I expect 50% rally in less than 3 months.

Time: 9:55 AM. Next Update 12:30 PM

1. The market is dealing with these three issues right now: Fed, China, and Delta. Lots of you might wonder: hey do earnings matter?
2. Today is a big Fed day. US Central Bank is expected to announce policy decision today. Will Fed pursue easy money policy?
3. It’s not the Apple result that seems to be moving the market. It is Boeing result that’s driving the market. Boeing reported its first quarterly profit since 2019. The stock is up 5% but the chart is still a mess.
4. Chinese regulators are trying to calm down investors and it’s leading to a strong oversold bounce. Should one buy? I will avoid it. When in doubt, stay out.
5. The Chinese Internet ETF KWEB is up 8% today but you have to realize it is down from $105 in Feb to now $51. Here’s the chart
6. When an underperforming stock is greeted with an earnings surprise, then it has the potential to rally a lot. Tilray TLRY can explode on the upside. It looks like a great momentum buy below 15.5 with a stop loss below 14.5.
7. Will the rally in marijuana stocks also life smaller speculative stocks like Organigram Holdings OGI and India Globalization Capital IGC. OGI came out with good earnings and IGC came out with a patent announcement on how to treat Alzheimer’s. Both are highly speculative and risky.
8. Will the rally in marijuana stocks also life smaller speculative stocks like Organigram Holdings OGI and India Globalization Capital IGC. OGI came out with good earnings and IGC came out with a patent announcement on how to treat Alzheimer’s. Both are highly speculative and risky.
9. Blackberry is bouncing from 200 dma with intensity. But will there be a follow through?
10. UPS stock tanked post earnings which was quite impressive. The company delivered EPS growth of 50% to $3.05/share. Sometimes, you never know what the market wants. The stock should become a deep value buy near $180

Chart Source: finviz.com

Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purposes. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers.