Thinking of Buying Costco? Here’s Why I’d Keep It on a Short Leash
Let’s take a close look at this big-box retailer after it posted a solid earnings beat.
Selling Some Planet Labs After Major Google Announcement
The news likely helped push the major space stocks higher.
Iran Breakthrough?
The markets appeared to make a U-turn for the better on Thursday on potential progress with Tehran. Also, where’s the beef with the China summit?
That’s a Wrap!
The major domestic equity indices closed flat to slightly lower on Thursday after having tested much lower levels earlier. The S&P 500 and Nasdaq Composite both closed very close to flat on the day. It appears that Washington and Tehran are exploring what would be a phased arrangement that would restore the ability of commercial traffic to navigate the Strait of Hormuz.
Four of the 11 S&P sector SPDR ETFs closed higher, with Communication Services ($XLC) atop the performance tables. The Materials ($XLB) were the big losers. Everpure ($P) was the top-performing stock in the S&P 500, while Gen Digital ($GEN) was the worst.
Though stocks rallied well off of their lows, crude oil did not rally and Treasury debt securities sold off yet again. The U.S. 10-year Note paid 5.19% by day’s end, up 8 basis points.
The big news of the day for single stocks was probably made by Oracle ($ORCL). The stock fell 3.5% after Bloomberg News reported that the company was citing force majeure in order to protect itself from a data center project being built in New Mexico if it is delayed.
Have a good night gang. Dougie, I believe, will be out again tomorrow, but someone else is destined to be here with you as I cannot work through the close tomorrow.
Get some rest, gang and God bless. Zero dark-thirty comes early.
Position: None
Tonight’s Earnings Headliner
Position: None
Baseball Trivia Answer
Question:
Pete Rose is Major League Baseball’s post-integration (since 1947) leader in plate appearances. Rose stepped up to the plate 15,890 times between 1963 and 1986 for the Cincinnati Reds, Philadelphia Phillies and Montreal Expos. Only four other hitters have stepped to plate 13,000 times or more since 1947. Who are they?
Answers:
1) Pete Rose (CIN, PHA, MTL) 1963-1986 15,890 PA.
2) Carl Yastrzemski (BOS) 1961-1983 13,992 PA.
3) Henry Aaron (Braves, MIL) 13,941 PA
4) Rickey Henderson (OAK, NYY, LAA, BOS, LAD, NYM, SDP, SEA, TOR) 13,346 PA.
5) Albert Pujols (STL, LAA, LAD) 13,041 PA
Baseball Trivia
Pete Rose is Major League Baseball’s post-integration (since 1947) leader in plate appearances. Rose stepped up to the plate 15,890 times between 1963 and 1986 for the Cincinnati Reds, Philadelphia Phillies and Montreal Expos.
Only four other hitters have stepped to plate 13,000 times or more since 1947. Who are they?
Programming Note
I have a 2 p.m. ET appointment for some physical therapy for a degenerative problem that I have in my lower back. I will be away from the Diary for a little over an hour from that time.
No reason for radio silence. You have each other and on top of that, I have left you a baseball trivia question.
Position: None
Nvidia Warning? Maybe.
Check this out.
Most readers probably already know that I have been very positive on both Advanced Micro Devices ($AMD) and Intel ($INTC). AMD literally for years and INTC for this year at least. Most readers likely also know that I remain long Nvidia ($NVDA), but don’t write on it very often. Looking at The Sarge-folio, AMD is a top-five name in terms of weighting, INTC is a top-10 name and NVDA is a top-15 name. That’s the way that I have had them weighted for some time now.
Nvidia
NVDA continues to trade within my Pitchfork model. This morning, the stock found support at its 21-day EMA as, I think, swing traders came to the rescue. Still, this is a dangerous spot as swing trades are notoriously fickle and if that line fails, how far away can a test of the 50-day SMA be? I still have a $290 target on NVDA, but I am starting to lose confidence in this one.
AMD
It looks to me like AMD may be starting to consolidate, which is healthy. The recent move was nearly parabolic in nature and needs to be digested. I am very comfortable with my current $790 price target.
Intel
INTC also seems to be setting up for some consolidation, which would be welcome. Here, too, the chart is very positive. My $178 target may be a little aggressive, but this stock still may be underrated. Lip-Bu-Tan is the best CEO this company has had in many, many years.
Position: Long AMD, INTC and NVDA equity.