The end of the week run in equities was impressive. Whether it was on Biden strength, Trump covid-19 recovery (maybe), stimulus talks, or some unknown force, the bulls are back in charge. However, any news related to the stimulus or Trump’s health could swing the markets significantly in the near term. It’s also earnings season, so we’ll see if the economy is holding together despite unemployment numbers and rising covid-19 cases.
IWM was the real story last week despite the strength in household tech names. This is bullish from a macro view, so I’m headed into Monday with a bullish tilt.
Here are a few stocks I’m looking at based on a combination of technical strength and a good story around the company:
Note that there are a lot of amazing stocks that I won’t mention here because they have run PAST my entry point. If they technically setup again (FSLY, for example) I’ll add to my watchlist.
Momentum trades: WKHS, U, LMND, and PRPL are grabbing insane interest from Robinhooders and day traders right now. I actually like the story surrounding all 4, but I need to see some consolidation or a good reason to chase, which I hate to do. Keep an eye on these new kids on the block.
Have a great week.
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