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Stock Opinions by Steve Grasso

COMMENT
It's breathtaking how yields slid this week. (The U.S. 10-year fell below 3% today.) If you go back to November 2018 to the highs of June 2022, the 50% retracement for yields is 2%. Those two dates were a double top for yields. He expects a respite for yields as commodity prices (gas and wheat) come in. This may convince Jay Powell to take his foot off the gas and result in yields come in from here.
Unknown

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DON'T BUY
He's been negative on all semis lately, but only Micron is below the February 2020 level. For Nvidia to return below Feb. 2020, shares would have to be cut in half--a pretty big move. TSM and Nvidia make up 20% of SMH. The former would need to plunge 30% to fall below Feb. 2020. So, there's a lot of room to the downside. We'll have to dip down a lot to call a bottom in semis.
E.T.F.'s
BUY
Ross and TJX benefit from oversupply in retail, and we've seen oversupply in many retail names.
clothing stores
BUY
Ross and TJX benefit from oversupply in retail, and we've seen oversupply in many retail names.
clothing stores
DON'T BUY
It's not about market conditions hurting cannabis stocks Like Uber and Lyft, cannabis stocks have to make money and profits at some point.
E.T.F.'s
SELL
This solar ETF looks terrible on a technical level. Take profits.
E.T.F.'s
DON'T BUY
Amazon announced a 20-1 stock split He's shocked that they're doing it now. This was a pandemic stock. We're coming out of Covid, so the stock split is another lever to pull. It feels like Amazon is doing this out of weakness, not strength.
specialty stores
BUY
Down 14% this year and shareholders are unhappy that the CEO isn't taking a public stance against Florida's anti-gay legislation Prefers Disney over Netflix, because people want to get out and experience things. The theme parks generate $16 billion revenues in a normal time. He's back long Disney. It will go much higher. Technically, this is where it bounced in July.
entertainment services
BUY
He's still long on this. Management screwed up on pricing. He's nervous because this company has no earnings, but the upside is more likely.
Automotive
BUY
Some stocks have oversold and are now a bargain. This fell from the $70s into the $40s. A no-brainer.
clothing
HOLD
Shares soared after earnings He bought this when it went public as a SPAC, and it's down nearly 80% since then. The fundamentals such as net income--$90 million against a loss of $3 million--their iGaming up 50% YTD and adjusted EBITDA is up 11%. Their last earnings cycle was horrendous, but this one is a bounce. He's holding it because there's a disconnect between the fundamentals and the share price. What ruined PSFE was the SPAC attack (which ruined all SPACs). PSFE should be trading back at $18. Their digital wallet and acquisitions make this investible.
Technology
BUY
Their theme parks will revive shares and Disney+ will help. This stock popped on earnings, fell on the Russian invasion and now it will rise to complete a round trip.
entertainment services
COMMENT
Reduce the balance sheet or raise rates? And which is worse? The market is digesting this choice. Value should outperform this year. The whole market--value and growth--will move lower. We saw that today. Value isn't big enough of the index to lift the market. Who knows what will happen with Covid and the markets in the next six months. He thinks we'll be talking about something completely different in a week after the markets digesting today's Fed news very quickly.
Unknown
COMMENT
Do tech stocks end the year higher, meaning the Nasdaq 100? No. What kind of tech? The top names can be higher, and the bottom lower. He owns value stocks, so he wants to the 10-year above 2%, though he predicts it'll end 2022 at 1.5-1.6%. Inflation is still transitory.
Unknown
DON'T BUY
Inflation will be transitory. Alcoa is hitting 2018 resistance, and won't move much past $62.
non-base metal mining
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