Trade Ideas For The Week

Here are a few stock setups to watch this week coming from the momentum delta scan inside Stocklabs.

ABNB – Over Friday’s high can bring the momentum back here:

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$CLSK – still one of my favorite bitcoin miners if we see crypto start to break higher:

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$JBLU – On scan and looks to possible break higher. The airline sector has been nutty.

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$AMSC was scan heavy last week, and might be worth watching if we can break the weekly high:

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$TECS & SOXS were also on scan this week so it’s worth keeping an open mind to some downside this week. We have another big earnings week to deal with not to mention the FED. It should be a pretty active week, CLICK HERE for the full scan. Earnings can be found below– $AAPL on Thursday:

#earnings for the week of January 29, 2024https://t.co/lObOE0dgsr$AMD $MSFT $AMZN $AAPL $META $SOFI $GOOGL $SMCI $BA $PFE $XOM $QCOM $CLF $CVX $MO $GM $RCL $SBUX $UPS $NVO $PTON $BMY $NUE $ABBV $CTVA $TEAM $JBLU $AOS $ALGN $PSX $EPD $MPC $SWKS $JNPR $MRK $MSCI $MTCH $LC $WOLF… pic.twitter.com/vEKJymGztX

— Earnings Whispers (@eWhispers) January 24, 2024

Now that the Bitcoin ETF has arrived, the orange cryptocurrency has taken a breather. Apparently, $GBTC holders have been waiting for this moment, and it has been a free for all since August of last year. Lucky for me, I committed a bunch of capital to the crypto space during the month of August, and have been rewarded handsomely (all trades documented in Stocklabs). So what’s next for the orange coin? I’d expect more weakness, before resuming it’s uptrend. We still have MOAR bullish catalysts ahead for the crypto market, one being the halving amongst others, so I will continue to buy on further weakness.

I know many of you do not care about the crypto space and come here for stocked picks, but I have to write about where my head is at. There was a great thread posted this weekend that explains the “behind the scenes” action in the Bitcoin, it’s a great read for those interested:

1/ I lost -$700k in a single trade… and I was lucky.

In 2021, it was known as the Widowmaker Trade. The single reason for all the blowups (3AC, Blockfi, Silvergate, FTX).

I even sent an email & had a call about the systemic risk, but the market was pumping, so who cared? Me pic.twitter.com/8PfCWQe3W7

— David Choi 🏧 (@0xZergs) January 13, 2024

Enough about the nerd coins, back to the market. $AAPL pretty much set the tone for the year with a cut in guidance for their iPhone sales. I’m pretty shocked that the marketcap for Apple still sits near a 3 trillion valuation and has held up to start the year. But, I think that changes soon– maybe even this week. I would watch the action in Apple to get a gauge on future market direction. If we start to see $AAPL break lower, it might be worth your wild to look at some of these tech inverse ETFS, or just go gangster and buy blocks of puts on the QQQs.

As we near the end of the month the FED will be in focus. I think it’s well-known that Powell will pause, but will there be clues for future cuts this year? Maybe, maybe not. Maybe market participants start to force the FEDs hand and force a cascade here, maybe not. Regardless, I would trade with a sense of caution here.

As for some high volume movers on Friday, you can click the scan HERE.

Good luck trading this week, and hold on to your butts. I’ll focus on my puts in the $QQQs.

It’s a week before Christmas and many are using the end of the year to use unused vacation time. It’s a time for friends, family, and corporate parties. I’m not expecting much this week, but will have my eye on the small caps to see if we can catch any big low-float runners. The momentum delta scan this week is uninspiring, but for those interested in the scan: CLICK HERE. 

$COST was the standout last week and is issuing a special dividend to shareholders on record as of December 28th, payable January 12th– it is on top of this week’s scan. I’m a believer that $COST should be in every long term portfolio. So the next time the market gives you a deep pullback, think $COST. China also saw some movement on the scans Friday with both $JD and $BABA making the scan. Maybe we see a multi-day bounce as we head into the China new year, maybe not.

There is not much else here on my end, make sure you join Stocklabs for more commentary from myself. Enjoy the holidays fellas!

It’s that time again. Time to prepare for the week using one of my favorite scans inside Stocklabs, the Momentum Delta Scan. Members inside the lab can save and bookmark scan HERE. For the unwashed, the plebs, don’t worry– I have imported the scan results for you HERE.

Some of my favorite setups from this weekend’s scan include:

It’s also worth noting that the Casinos are finally coming off the lows and getting some love from scan: ie. $LVS $MGM

And, it appears they may try to jam the Cannabis names higher into year end. $CGC, $TLRY, & $ACB are popping up again.

I’ll be watching the small caps into year end, let’s see if Santa continues to show his face as we close the year. Have a good week all, trade ’em well.

It feels like we have an end of year chase in progress. Over the weekend crypto continues to act well, with BTC pushing to $40,000. The NFT market is also heating up with Pudgy Penguins trading to 10 ETH. Indeed, there is an appetite for risk. And, people still think a rate cut is coming next year? I’m not so sure, other than the fact interest is killing the USA with a debt load nearing 50 trillion. This new white lung pandemic should be fun. I digress.

Friday’s scan left 200+ tickers to sort through, a number that is increasing week over week. I went ahead and imported the weekend scan for the unwashed: CLICK HERE FOR CHARTS.

Members of iBankCoin’s premium service can save the scan HERE.

Tickers I will be watching this week include: RIVN, CELH, DOCU, CLF, HOOD, CHWY, AA, JOBY, CVNA, AI, QS, TDOC, MARA, BB, PTON, ACHR, BCRX, PGY, FUBO, HUT, HIVE, BKKT, GOTU, RGTI, & TLRY (CHARTS)

Have a great week all!

It’s already been one hell of a week, and we still have a few trading days to go– only 5 more trading days until Thanksgiving. Finally, its been a few years, but the Mythical Turkey gods have shown their face. In my last post, I was watching the small caps, specifically $TNA. Well, we got the move, and saw some resistance as we traded back through the 200 day moving average.

As for the rest of the week, below you will find tickers from my updated scan. Crypto and the Cathy Wood (ARKK) names are now in focus according to my scan.