Latest Stock Buy or Sell?
Today, Pete Najarian and Shannon Saccocia, CIO, Boston Private commented about whether TREX-N, HD-N, MAS-N, XLK-N, LUV-N, DKNG-Q, DHI-N, GDX-N, M-N are stocks to buy or sell.
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COMMENT
options vs. stocks Options give you great opportunities like big-cap tech like Apple and Microsoft, but be nimble. He's sitting on a high level of cash. He'll jump on options when he spots an opportunity. In fact, he expects them to do well as rising rates often means that tech rises, too (believe it or not). That said, he prefers options in these names, given volatility. All these names have great free cash flow, though their PEs are slightly high (mid-30s for Apple, mid-20s Meta). Definitely buy these on pullbacks, BUT he doesn't see pullbacks coming. Doesn't see them going straight up either. Instead, they will trade in a tight range.
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BUY
options It's been choppy and rangebound this year. Their cash flow has risen. There was a buyer of 5,000 of the May 26 calls going for $1.25. Very interesting. Macy's has a 10% short interest in it. He sees upside.
department stores
BUY
options This ETF has hung in there even as gold has flattened. The market bought 10,000 of the April 29 expiring calls, going for 70 cents. This is a breakout. Goldminers will continue to rise and maybe make new 52-week highs.
E.T.F.'s
HOLD
The sell-off has been painful, but he likes the stock. Unfortunately, this stock is tethered to wider negative market conditions. He's holding on; he bought it so cheaply and doesn't see a share collapse.
contractors
WATCH
Down 30% YTD. He used to own these options. Sports betting is a very competitive space, because there's growth, but there are heavy costs to attract customers. He's watching this space. Wouldn't buy these stocks yet.
Technology
BUY
options There's been an acceleration in options action in airlines here, driven by fuel costs. He likes the CEO of Southwest. The market bought 17,000 of the May 15 calls. He gets a little extra time, a month, when it's usually 1-2 weeks long, so he likes this. A tailwind: people are getting more comfortable flying, and when people don't need to wear masks when flying we will see a nice move up in airline stocks.
Transportation
COMMENT
She's optimistic about stocks in the second half of 2022. She expects continuing volatility, and winners and losers. Inflation and supply shortages won't slow as fast as we want. For Q2, companies have digested that the Fed will be aggressive, and the Ukraine war could turn into one of attrition. However, stocks remain better investments than bonds or cash. You must find pockets of stocks to invest in. Fundamentals are key.
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