Daily Stock Picks $DVN and oils - can you buy the dip now? 10-5-23 Market update
$DVN and other oils are going south. I look at that and other stocks - where are levels of support?
Get my algo and a special offer on Trendspider - https://trendspider.com?_go=gary93
Get $50 off a year of Seeking Alpha. https://www.sahg6dtr.com/2L9M597/R74QP/
TESLA referral -Use my referral link to buy a Tesla and get up to $500 off and 3 months of Full Self-Driving Capability.
https://www.tesla.com/referral/gary82526
Social Links and more - https://linktr.ee/dailystockpick
FREE NEWSLETTER WITH CHARTS - subscribe at dailystockpick.substack.com
SPONSORED BY VISIBLE - Check out this page: https://www.visible.com/get/?3P8FJPM $20 off your first month - only $5 for the first month
Sign up for Webull and get free stocks like I did - https://a.webull.com/gGlte9iTQnfaDYFa4S
NOTES
Listen to Tom Lee - the economist - not the drummer
US Treasury Bonds have now seen a larger percent loss from their highs than the S&P 500 did during the Great Financial Crisis. 📉 #SPY
Rates this morning were down and then shot up
Buy-rated dividend stocks for volatility and high rates - BMO
All these stocks hit new 52 week lows at some point today
Disney $DIS
Bank of America $BAC
Citi $C
General Motors $GM
American Tower $AMT
Bristol Myers $BMY
Conagra $CAG
Devon $DVN
L3Harris $LHX
3M $MMM
Newmont $NEM
Paramount $PARA
Raytheon $RTX
Square $SQ
Target $TGT
$AAPL Insiders at Apple sold over $64 million in shares yesterday, including CEO Tim Cook. 🍎
This was his first sale in six months.
$AAPL also downgraded yesterday by Keybanc -
Trading near all time high multiples
Softness in US sales
Not seeing strong demand for smartphones in the US meaning weaker iPhone sales here and Huwai selling new cheap phones in China
Oil has collapsed down 5% under the 50 day moving average
$cost monthly sales - we just got earnings so it wasn’t a huge pop
$rivn does a sale of notes which is a fund raise - this will be holding here and I think it’ll be fine - nobody remembers this sale in a month
$rblx up
$sco was a crazy good play
Social request
$dvn for Celia and others on fb
Macro economic factors of rates going up and bond prices being cheaper for higher rates - this is indicating a recession and energy will go down - that’s over doing the supply/demand side with OPEC continuing the production cuts and they are not driving prices higher
SCANS
$TGT
$BA
$SEDG
$SPXL
$UPRO
$VTI
$MAR
$DE
$DAL
$BITW
$PINS
$HLT
$SBUX
$BIIB
Covered Call ETFs
$XYLG
$XYLD
$JEPQ