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Hereā€™s whatā€™s going on todayā€¦
The main WSB pump this week is actually a pick from the Weekly Watchlist ā€” Rocket Companies Inc. (NYSE: RKT).
Consider the evolution of this spike. I loved RKT as a breakout at $24 last week. It was an earnings winner and a technical breakout. Good stuff. But then, on Tuesday, it went from an earnings winner to a WSB pump with an unnatural move from $28 to $40.
With WallStreetBets plays, you need a good catalyst.
Consider the evolution of this spike. A few days ago, it was an earnings winner and technical breakout. But then, on Tuesday, it went from an earnings winner to a WallStreetBets pump. Then it had an unnatural move from $28 to $40.
Will it bounce again? Wrong question. If you ask me, itā€™s back to where it should be as an earnings winner ā€¦ I suggest waiting for a catalyst to make any moves.
UWM Holdings Corp. (NYSE: UWMC) is a sympathy play to RKT. It also had an unnatural move, so Iā€™d say all the same rules apply...
An Instagram follower commented that Tanger Factory Outlet Centers Inc. (NYSE: SKT) is looking ā€˜squeezy.ā€™ Sort of ā€¦ Iā€™d say itā€™s a textbook dip and rip.
But in terms of a short squeeze, thatā€™s tougher to call. Itā€™s a lot harder for a $25 stock to squeeze than a $2 stock. Thatā€™s just pure mechanics. But if it breaks the high of the day, it could be in playā€¦
Everyoneā€™s curious whatā€™s going on with Palantir Technologies Inc. (NYSE: PLTR) ā€¦ Prominent investor Cathie Wood just added to her position. I always say ā€œDonā€™t bet against Cathie Wood,ā€ but thatā€™s not the same thing as saying you should follow her buys.
Personally, I donā€™t like to guess bottoms ā€” I prefer to wait for a breakout on a play like this.
DraftKings Inc. (NASDAQ: DKNG) has some great news today about an upcoming partnership with UFC (Ultimate Fighting Championship), and it made some premarket moves. I love it back over $70.
I was so dialed in on Super League Gaming, Inc. (NASDAQ: SLGG) yesterday ā€” I thought it was going to dip and rip. I spent an hour waiting for a break that ultimately failed. Still, itā€™s nice to see this e-sports play had an after-hours reclaim. Iā€™ll watch to see if it breaks above the $7 areaā€¦
Allied Esports Entertainment Inc (NASDAQ: AESE) is a sympathy play to SLGG. Look for the same patterns...
Target Corporation (NYSE: TGT) had great earnings ā€¦ Then the stock price dropped. Iā€™d say that once it sets a bottom, it could be a great swing trade contender. This isnā€™t a stock that will double in a day, but itā€™s crushing it earnings-wise, so Iā€™ll be watching.
Prominent investor Dave Portnoy is behind the brand-new VanEck Vectors Social Sentiment ETF (NYSE: BUZZ). Iā€™m super excited about it, but I still wouldnā€™t touch it early. I think there could be some weird moves. I say wait till the afternoon, tomorrow, next week...
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By Stock Chat

where the coffee is hot and so is the chat

6 thoughts on “Pre market prep- stock market 03/04/2021”
  1. Avataaar/Circle Created with python_avatars Gery_cu says:

    Learning a Lot from your videos, Thanks!

    Esports stock could be a very good long term hold if thereā€™s a good entry point. Might have missed out on $SLGG but Iā€™d like to look more into $ENTEF since they are in the same E-Sport Sector!

  2. Avataaar/Circle Created with python_avatars Cathy Mary says:

    A lot of people with high IQs are terrible investors because theyā€™ve got terrible temperaments. You need to keep raw, irrational emotion under control.

  3. Avataaar/Circle Created with python_avatars Cristi Wamsley says:

    I always want to know why!

  4. Avataaar/Circle Created with python_avatars ItsCDoc says:

    Never lost more then when i started trading your stock recommendations just going back to doing my own thing

  5. Avataaar/Circle Created with python_avatars Neochotomy says:

    I just quit Target and am lucky because they were cutting hours terribly. šŸ˜…

  6. Avataaar/Circle Created with python_avatars Maybe Later says:

    Great educational video. Thanks for sharing this with me

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