Markets continue to seesaw as we get ready to head into next week’s Federal Reserve meeting and quarterly expiration.
Of course, the Russia and Ukraine news was the main driver of volatility…
The energy crunch has helped create wild swings in the markets like we saw in our New Money Crew Weekend Watchlist pick Occidental Petroleum Corp. (NYSE: OXY).
The volatility spike has made options trading tought. Not only has it inflated options prices, but we’re seeing serious volatility crushes as markets adjust to wartime trading.
And though it’s been a rough tape to trade, the New Money Crew strategies have managed to grab some wins along the way.
Our Wiretap Alerts strategy closed profits on each of its three trades, and Weekly Blitz Alerts followed up our 87.5% win on Kraft Heinz Co. (Nasdaq: KHC) by scooping up a 32% gain on Taiwan Semiconductor Manufacturing Co. (NYSE:TSM)!
With what could shape up to be an eventful week around the corner, here are some names hitting the Blitz Tracker to put on the New Money Crew Weekend Watchlist…
New Money Crew Weekend Watchlist for March 11
Kicking off the Weekend Watchlist, Teck Resources Ltd. (NYSE: TECK) gets the top spot for New Money Crew. The Canadian company’s mines produce a load of different resources from battery metals, gold, silver, coal and fertilizers.
Like other materials producers, share prices have been pushed around by headlines surrounding Ukraine and Russia.
The company saw a 15% run up last week before selling off Monday, but shares wouldn’t stay down long. The stock rallied midweek after a Goldman Sachs and TD Securities stock upgrade, which helped power a fantastic 15% rally to a new 52-week high.
The stock is trading about $10 under Goldman’s price target of $51 and seeing short-term bullish options flow.
Continuing with the resource stock upgrade we have Canadian Natural Resources Ltd. (NYSE: CNQ).
CNQ is an oil and gas producer and also owns midstream assets.
Volatile, choppy markets have caused a lot of pain so far in 2022, but you wouldn’t know it by CNQ’s chart…
The company has been on fire since the middle of August 2021, crushing record highs on its way to doubling over the seven-month span at the $60 mark…
And with the world looking to replace Russian oil outflows, it isn’t showing signs of slowing down.
Last week, CNQ reported earnings of $2.21 per share — beating consensus estimates by an impressive 32%.
This week saw the stock receive analyst upgrades from Wells Fargo and Credit Suisse. Credit Suisse was the more conservative of the two, valuing the stock around $62 while Wells Fargo set its price target at a lofty $79.
Microsoft Is Putting Its Money to Work
Closing out the week, we have Microsoft Corp. (Nasdaq: MSFT) making its way back to the New Money Crew Weekend Watchlist.
Things haven’t been easy for tech names in 2022, and Microsoft is no exception.
Shares of the tech giant have taken a 10% haircut since its last appearance — slightly outperforming the Nasdaq, which dropped more than 14% over the same span. And though the stock has taken its lumps from this market, it hasn’t been because the company is resting on its laurels.
Microsoft has been putting its significant cash reserves to work through the downturn.
In January, the company sent shockwaves through the market when it brokered a deal to buy Activision Blizzard Inc. (Nasdaq: ATVI) for $68 billion.
On March 5, Microsoft closed on its $16 billion deal to acquire Nuance Communications — an AI company instrumental in the launch of iPhone digital assistant, Siri.
Microsoft is seeing its fair share of bearish order flow on the Blitz Tracker. But like I mentioned Tuesday, it’s one of several beaten-down tech titans with breakout potential should markets see a post-Federal Reserve meeting rally.
Of course, for more detailed guidance through the volatile markets and big-money trades as we head into the weekend, check out my Wiretap Trade Alerts strategy! New trades are issued at 2:30 p.m. EST every Friday!
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