Financials (XLF), Tech (XLK), Consumer Staples (XLP) & Energy (XLE) ETFs
Charts from 9:42 a.m. ET
Safety Set as I Await Smith & Wesson, Planet Labs Earnings
I’m holding off on trades as I await earnings for these two $10K Portfolio names; also, SoFI updates and drone news.
Costco’s August Sales Bring Many Reasons to Remain Bullish
Distinguishing between net sales and total sales points to August quarter upside.
Stick With GE Aerospace, Ditch its Counterpart as AI Infrastructure Trade Loses Luster
GE Aerospace offers a predictable business that features a massive backlog.
SNOW, JPM Shorts
I have reshorted ($JPM) at $359.29
And I have taken a trading short rental in ($SNOW) at $377.50 (with a tight stop).
Positions: Short SNOW S, JPM S
More SPY Moves
I have moved to between medium and large sized ($SPY) short at $769.08
Positions: Short SPY common M/L and calls S
Upside, Downside Movers in the Morning
Upside:
-SNOW +24% (earnings, guidance)
-CHPT +19% (earnings, guidance)
-HCM +13% (announces Licensing Agreement with GSK for KRAS-EGFR-Antibody Conjugate Cancer Therapy)
-DLTH +11% (earnings, guidance)
-AVAV +6.3% (Trump Administration places large tariffs on foreign-made drones; receives $465M US Army laser contract award)
-FIVE +6.2% (earnings, guidance)
-SMMT +5.9% (reports Phase III OS benefit for ivonescimab in PD-L1-positive locally advanced or metastatic NSCLC)
-CLYM +5.7% (reports Phase 1 data for CLYM116 in IgA nephropathy)
-PFG +5.7% (Samsung’s insurance units seek to acquire Canopius, PFG stakes in $6.6B deals)
-DPRO +5.1% (Trump Administration places large tariffs on foreign-made drones)
-NVST +2.3% (JPMorgan Chase and Co Raised NVST to Overweight from Neutral, price target: $32 from $29)
Downside:
-RARE -47% (missed primary and secondary endpoints in Phase 3 Aspire data for apazunersen in Angelman syndrome)
-VSXY -18% (earnings, guidance)
-APVO -15% (provides leukemia drug study data update)
-PLRZ -12% (prices 333,333-unit registered direct offering and concurrent PIPE for $4.0M gross at $12.00/shr)
-PSNY -11% (earnings, guidance)
-CPB -6.4% (earnings, guidance)
-FLNC -6.2% (Barclays Cuts FLNC to Underweight from Equal Weight, price target: $10)
-HPE -4.0% (earnings, guidance)
-AVGO -3.1% (earnings, guidance)
-MRNA -2.5% (hearing Rothschild & Co Redburn Cuts MRNA to Sell from Neutral, price target: $81)
-AI -2.1% (earnings, guidance)
Positions: None.
Break In: Gold … Sold!
I just sold the balance of my ($GLD) at $411.65.
GLD traded as low as $395 yesterday (we added) and is now $9 on the day and +$16 from Wednesday morning.
So, for now I am treating GLD as a trading sardine and, at the appropriate price, it will be a foundational part of the portfolio to take advantage of the secular and continued US currency depreciation
Positions: None
