What a week it’s been… I don’t know about you, but Friday got here just in time.
Not just because it’s time for the New Money Crew Weekend Watchlist, but because I’m ready to head to Vegas, where I’m speaking at The Moneyshow conference!
If there’s one message I’ve been hitting on time and again in these whipsaw markets, it’s that traders need to aggressively take profits when the opportunity presents itself.
This isn’t a market where we want to get married to a trade, and this week is a prime example of why…
The market had the biggest single-day rally since 2020 on Wednesday. Next, we had the largest single-day loss of the year so far…
No one has a crystal ball, and you don’t get a medal for calling the top or bottom.
A successful trading mindset knows that we live in the middle of those extremes, and FOMO is NOT your friend.
This is the type of mindset that’s helped our Weekly Blitz Alerts strategy rack up a spectacular winning streak, going 5 for 5 since April 26…
Now of course this is well above the strategy’s 65%* win rate since I started Blitz in February 2020…
This streak will end like any other, but it goes to show that even in markets moving from one extreme to the other in just a couple of days, careful target selection and staying nimble can help the everyday retail trader stay ahead of the chop.
Traders always need to be on the lookout for stocks on the move, which is why I’m here every Friday to bring a few select companies to your attention for the New Money Crew Weekend Watchlist!
New Money Crew Weekend Watchlist for May 6
First up this week for the Weekend Watchlist, New Money Crew is going to re-up on our good friend PayPal Inc. (Nasdaq: PYPL).
The negative sentiment is understandable… The company lowered its 2022 guidance and will lose its long-standing association with fellow dotcom boomer eBay Inc. (Nasdaq: EBAY)…
But even with those headwinds, PayPal still expects to see rising payment volumes and sales growth in 2022 — so why is the stock trading at five-year lows?
On Wednesday, we saw one insider taking advantage of the 70% price cut dating back to last year, grabbing 1,100 shares for around $100,000 on the open market!
Insider buying like this is generally seen as a bullish indicator, so PayPal will get a second straight week on the Weekend Watchlist for New Money Crew!
In the No. 2 spot, leave it up to YETI Holdings Inc. (NYSE: YETI) to know how to hold its temperature — and it’s been ice cold despite its solid earnings.
The company has consistently come in ahead of Wall Street’s estimates, but with lingering concerns about the supply chain and a shifting focus to more direct sales, they haven’t gotten much love…
The share price has been cut in half since November, trading down to levels it hasn’t seen since the beginning of the pandemic. But with the stock ready to report its first quarter earnings before the bell on May 11, the Blitz Tracker picked up a massive earnings bet in the weekly options — earning it a spot on the New Money Crew Weekend Watchlist
Bringing up the rear this week is one of my favorite stocks to trade, so give it up for Las Vegas Sands Corp. (NYSE: LVS).
If you’ve been following New Money Crew for any length of time, you’ll know all about my love affair with travel stocks — particularly the casino names like our friend LVS here.
While markets took a dive in April with the S&P 500 dropping over 8.5%, we saw some signs of life in travel names — particularly airlines. In the broader picture, that’s good news for destination stocks like Vegas and Wynn Resorts Ltd. (Nasdaq: WYNN).
In a more narrow scope, LVS has stiff headwinds from China’s zero-tolerance COVID-19 policy along with saber-rattling for more direct control over gambling in Macau.
But that didn’t keep shares from getting a solid 7.5% post-earnings pop.
The stock dipped to levels it hasn’t seen in over a decade, and we’re starting to see unusual options activity in LVS after falling off the radar in early February. With Wynn set to report earnings on Tuesday, this is one traders need to watch.
One more reason I have my mind on Vegas — I’ll be in Sin City next week to speak at “The MoneyShow” along with Joy of the Trade Head Trader Jeff Zananiri! You can get all the details here. Be sure to say “hey” if you’re there!
P.S. It’s a bloodbath out in the markets…
With many traders’ accounts going red, day after day…
No one knows what to do… But this former $700 million hedge fund manager is warning investors:
It’s only going to get worse!
*Stated results are typical for given period. Past performance is not indicative of any future results. Trade at your own risk.