It has been an exciting two days to say the least.
Between opening a new bank put in the Night Trader yesterday afternoon and a Fast Profits Friday trade this morning, we’ve been busy.
Today we took a position on Ford Motor Company (F) and I shared with you some of the stocks on my watchlists.
Talk a look at the action to take:
Why I’m Giving Ford a Thumbs Down Right Now
Here’s my prediction… I believe this stock is heading towards the $15 level in the near term.
This comes after Ford announced last week it would be closing one of its plants due to supply chain issues.
But that’s not their only problem right now…
Consumer discretionary spending is slowing, and interest rates are on the rise.
Can you guess what doesn’t get purchased when that happens? – shiny new cars.
Ok we’ve got the story in mind, but what are the technicals saying?
When you’re looking at Ford, we’re not quite at the death cross just yet but we are getting alarmingly close.
The top Bollinger band just acting as resistance, the 50-day moving average is trending lower, and volatility is tightening up.
Typically, these movements suggest from a technical view that we’re heading toward the downside.
That’s why we’re picking up the $17 put today, sticking the car in neutral as the stock descends this hill.
And when I tell you the next earnings season is going to be the most important in the last 10 years, I mean it folks.
This Year’s Own “Spring Awakening”
Analysts are peeling back some of their expectations, inflation has entered the conversation yet again, and the jobs report is looking a bit light.
The Fed has taken the market off life support and geopolitical conflicts are compounding with issues already present thanks to the pandemic to create a global course correction.
All that said, in the wise words of Voz, my Night Traders have been absolutely “killing it” lately.
That’s why for the next few days I’m taking you behind the velvet rope, showing you exactly how we trade and our plans ahead of earnings season.
If you tuned in yesterday afternoon, you would have received my first Night Trader: Unlocked play on Citigroup, Inc (C).
We spotted the impending contraction in the bank stocks and decided to come along for the ride.
Here is the action we took…
And it is already up almost 40% today!
I told viewers to make their exit once it hits 50% so we’re getting quite close within only a single day.
That’s the power of our Night Trader sessions in action.
And you’re welcome to join our next one on Monday at 3:30 p.m. (ET) for free.
I’ll send you a reminder email with the link and instructions to enter the live room when it gets closer.
There are trades nearly every day and you’ll hear more about our earnings season strategies.
Keep an eye on your inbox for my next big update.
Quantitative Specialist, Penny Hawk
April 01 2022