SWAGGYSTOCKS - WEEKEND SUMMARY + OUTLOOK
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Weekend Report Market Update Markets inched higher this week as we finally saw some life breathed into AAPL stock early in the week. Most of the big tech is still in consolidation, once they begin to participate we can definitely see a big Santa Clause rally going into the holidays. Not many catalysts proposing much downside pressure. Most high risk growth stocks are pretty extended here. Looking at FSLY, DDOG, PTON, SNOW, PSTH, etc. The list of growth stocks closer to the upper range of RSI is quite high. We could potentially see a dip in those stocks this week as they revert back to the mean price. Next Week’s Outlook A few more interesting earnings reports this week to close off earnings season. Stitchfix (SFIX), Chewy (CHWY), GME (Gamestop), ADBE (Adobe), COST (Costco), LULU (Lululemon), and ORCL (ORCL) are some interesting ones I'll be keeping an eye on. SFIX: The last 3 earnings reports for this stock resulted in drops in share price of 15%, 5.5% and 25%, respectively. The ticker has dropped 20% from all-time-highs two weeks ago, but still trading at quite a high valuation, relative to what it was trading at 6 months ago with better earnings back then. Valuations pretty inflated here, I think it's 50/50 we go up or down on this one. SwaggyStocks – Weekend Summary + Outlook 2
GME: This stock has one of the highest IV's out there and rightfully so as it teeter-totters between bankruptcy and a strong recovery. Those that saw the short interest report I posted not long ago will notice that GME has one of the highest short-interest ratios. Anything from the report that displays the company will continue moving forward better than they were before could send this ticker soaring. This is probably the most anticipated earnings of the last 2 weeks. LULU: has had a massive 15% run-up before this report. IMO will take a big beat to continue the breakout higher. I wouldn't put it past them to have a great earnings report though. Their product is high quality and brand loyalty stronger than ever. Will be interesting to see how acquisition of Mirror is helping their revenues and bottom line. Sentiment Report As sentiment on PLTR finally "begins" to fade, we saw an increase in chatter in some other stocks around the forum. I'll look at the fade in PLTR (good time to buy IMO), as well as ARKG, CSCO, and FSLY. PLTR - Palantir The hype surrounding PLTR has finally calmed down a bit now that the stock price has (somewhat) returned to earth. A sharp drop from $30 back to now $23 most likely wiped out a lot of call-holders. If you bought the top, that's unfortunate. If you bought in this week on the sharp declines, there may be some potential for good upside as the upward trend continues. Like any MEME stonk, the best time to buy is when hype is fading. SwaggyStocks – Weekend Summary + Outlook 3
ARKG - ARK Genomic Revolution ETF (ARK Biotech ETF) ARKG saw a big spike in chatter this week after the stock price closed up 5% to end the Friday session. One of the more popular ETFs in the ARK series this stock has seen almost 20% increase in just the last 2 weeks alone. Swaggy likes this stock for the long-term and will be adding on the dips. SwaggyStocks – Weekend Summary + Outlook 4
CSCO & FSLY - Cisco & Fastly FSLY buyout rumors caused both CSCO and FSLY shares to pop-off in terms of price and online chatter. Comment volume was in the thousands for these two tickers combined and were in the top 5 of stocks talked about on Friday. FSLY being somewhat volatile is already trading in the high $80's from the low $70's just 2 weeks ago. Comment volume was at 2% of all tickers mentioned Friday. I'll be interested to see where both these stocks trade in the coming weeks. SwaggyStocks – Weekend Summary + Outlook 5
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