Latest Stock Buy or Sell?
Today, Steve Grasso and Pete Najarian commented about whether DISH-Q, META-Q, SMH-Q, TAN-N, MJ-N, TJX-N, ROST-Q, SMH-Q are stocks to buy or sell.
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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.
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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
Semis have been slumping not just this week but for a while. They've been awful for a while. The Micron forecast is an example of a lot of nervousness in semis; there's been put-buying across the board within the SMH and going far, as far as September and October.
E.T.F.'s
