Lots of BIG OIL stocks showing up on my reversion-to-the-mean screen as potential buys. Not surprising. Oil stocks tend to decline heading into a Presidential election, and then rally afterwards. Buy 'em here. Take a nap. Sell 'em in December.
Please read today's Market Minute essay...
https://t.co/7W72x4qWd3
It's an important statement about the current stock market setup. The essays for the rest of this week will build on today's.
Investors are excited about the Fed cutting interest rates next month. But...
The Fed started a rate cutting cycle in March, 2000 when the S&P was at all-time highs.
The Fed started a rate cutting cycle in September, 2007. when the S&P was at all-time highs.
History rhymes.
Everybody is gambling. The stock market wreaks of late-2021 vibes. It's all about chasing momentum. Nobody is looking at risk. This is a bad setup. Traders should be cautious.
@jfblanchette If you look at a daily chart of SFM, you'll notice it rarely gets more than 10% above its 50 day MA. That's where it is now. Plus MACD is sky high. RSI and CCI were recently well into overbought territory.
With the broad stock market in an overbought/extended condition, I'm more inclined to look for trade setups from the short side. Here are a few that look vulnerable...
BMY, CHKP. DHI, FFIV, SFM.
Yesterday, was half marathon #6 with my hands tied. I’m grateful that that @KPIXtv recently featured a story about my running initiative to raise awareness for child sex trafficking. This coverage is a significant step in amplifying the conversation around this critical issue and driving action within our communities.
A huge thank you to CBS for helping us spread the word and to everyone who has supported this journey. Together, we can make a difference.
Let’s keep the momentum going! Every step counts.
https://t.co/fBBFPRXItf
On June 23, 15-year-old Natalie Mays went been missing from Lyon County.
Thanks to a united effort, Natalie was found on August 8 and is now receiving the care she needs. Outcomes like this one are why Special Operations | Finding Kids exists. We are deeply grateful for the collaboration between the Regional Human Trafficking and Exploitation Unit (HEAT) in Nevada, the Lyon County Sheriff's Major Crimes Unit, our dedicated private investigators in Nevada, and the local community.
Brittany Mays, Natalie’s mother, expressed her gratitude: “Our hearts are filled with so much appreciation for the things that you did and the time that you put in to help recover our daughter.”
Lieutenant Ty Joyner of the Lyon County Sheriff's Office also extended his thanks:
“Thank you https://t.co/6yoYt2iF9g and investigators for assisting in the successful recovery of missing teen Natalie Mays.”
Excited to announce that I’ll be speaking at the @SharedHope JUST Conference! It is the nation's leading conference on juvenile sex trafficking. Looking forward to learning and discussing practical knowledge and actionable responses to raise awareness and ultimately end trafficking in local communities
Together, we can make a difference! #JUST2024 #EndHumanTrafficking #Advocacy
Nice action in last week's reversion to the mean setups. The longs held up well, except for EL - which will likely make this week's list. And, the shorts fell with the broad stock market
Here are a few "reversion to the mean" trading candidates to keep an eye on next week...
Potential buys: NKE, EL, BBWI, OSCR, POWL
Potential sells: DHI, UTHR, RIVN, PNC, UNH
We recently tabled at the @SFGiants Family Safety Event!
This incredible opportunity allowed us to connect with the community and spread awareness about the vital work we do to promote child safety.
Being highlighted at such an event underscores the importance of our mission and the impact we strive to make every day. We are deeply grateful to the @SFGiants for their support and for providing us with this platform to reach more people.