Latest Stock Buy or Sell? Make More Informed Decisions!
Today, Pete Najarian and Kevin O'Leary commented about whether DOCU-Q, CL-N, NVDA-Q, SPY-N, ASO-Q, DAL-N, NFLX-Q, XLF-N are stocks to buy or sell.
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COMMENT
Today's hot inflation data triggering a sell-off There's a lot of put-buying today. There was a buyer of 11,000 of the August 31 puts in XLF, for example. Buyers are looking for more downside or get a little protection to the downside. The key market influencer is not oil, but rather it continues to be the 10-year yield: above 3% the markets start selling, and below 3%, they buy. Certainly, energy and food are major contributors to inflation.
E.T.F.'s
COMMENT
Netflix was downgraded to a sell and $186 price target today by BOA and he agrees with it, unfortunately. Streaming is very competitive and the consumer around the world is watching their money. He misjudged the macro, which will effect how people will spend their money. He's not selling though he's under water. Can Netflix compete during this consumer "recession"--will consumers spend on Netflix, the more expensive streaming service?
Technology
BUY
Many semis saw their price targets lowered today Is watching this space. Recently bought Nvidia. The other semis, he's been selling calls against them forever. He's looking to start rolling his Nvidia calls. The premiums were unbelievable, fetching $10 for an upside call. He may buy them back and roll them out. Still likes Nvidia which has amazing free cash flow and a decent PE.
computer software
processing
BUY ON WEAKNESS
Downgraded a lot today BOA downgraded it to a sell today, but he added to his holdings today. It's down 80% from its pandemic highs, but its products are everywhere. Not a great investment, sure, but DOCU is an essential part of any business that already uses it, and businesses rarely change their service systems. Also, companies and countries are reacting to the Russian invasion of Ukraine--they're asking, in which country is my data residing? He's in pain, but is averaging down. DOCU is a long-term bet. He's known the management since they were private--he's confident DOCU can pivot. He projects double-digit returns in 18 months.
Technology
COMMENT
Today's hot CPI data Today's CPI doesn't jive with other data, like industrial production numbers - car-making numbers are up - but are not driving priecs lower. Food is increasing more than 10% YOY, the highest since 1981, which strongly impacts all consumers and is troubling. If you are a long-term investor, this is the time to pick up companies with strong fundamentals; you will ultimately be rewarded.
COMMENT
Hot inflation data is triggering today's slide People focusing on earnings are missing the point. Earnings estimates are not falling because everything costs more. Consumers are not stupid; they're pissed off. Consumers have no choice but to spend more! This feels like a recession to them, even though they can find jobs. Consumer confidence, says a new survey, hasn't been this low since the mid-1970s. That said, don't sell stocks. Use stop losses, though. To long-term investors, remember that there are periods where the market doesn't reward fundamentals. And be diversified.
