I don’t know if it was the time zone change or because there aren’t clocks on the casino floors, but the trading week is already over…
That means it’s time to take a look at the markets and get ready for what’s up ahead with the New Money Crew Weekend Watchlist!
Thursday saw the Nasdaq just barely finish in the green after five straight days of selling.
That rally carried over into Friday’s premarket, with futures up as much as 2%.
It’s way too early to tell if the market has bottomed or if this is just a kitty bounce — I don’t have a crystal ball.
But as I’ve said it before — traders have to be nimble in volatile markets.
So don’t be shy when profit-taking opportunities present themselves.
And even though we took some lumps this week, that mindset has helped carry the New Money Crew strategies to another successful campaign in a choppy week.
Downside Plays Come up Big for New Money Crew
When markets are swinging like crazy, traders have to be prepared to take advantage of the two-way moves.
On the downside this week, you already know about the fantastic return on the Rivian Automotive Inc. (Nasdaq: RIVN) puts I highlighted in the May 4 WealthPress Live Roundtable. Those premiums have melted up all week, so if you took that trade, email me because I want your poster on my wall.
But that wasn’t the only bearish return we saw this week — our Wiretap Alerts strategy scored a massive win with Plug Power Inc. (Nasdaq: PLUG) as shares cratered Monday morning and Blitz Daily’s featured puts on Affirm Holdings Inc. (Nasdaq: AFRM) saw a nice move on earnings.
While the steep sell-offs pumped out wins, it also broke our Weekly Blitz Alerts winning streak, we quickly rebounded with two nice wins on Western Digital Corp.(Nasdaq: WDC) and Procter & Gamble Co. (NYSE: PG).
And with those trades in the history books, here’s what I have my eyes on for the New Money Crew with an all-new Weekend Watchlist…
New Money Crew Weekend Watchlist for May 13
At the top of the New Money Crew Weekend Watchlist is United Airlines Holdings Inc. (NYSE: UAL).
Like we discussed last week, airlines and travel stocks turned in a solid April thanks to strong forward guidance from UAL’s earnings call on April 21.
Although the company posted another quarterly loss, the stock ripped thanks to management announcing they expect to see profits in the second half of 2022.
April’s gains were sold off with the rest of the market in May, but travel stocks are on the move again Friday.
UAL shares look to be bouncing off of prior support, jumping around 5% on the day, along with last week’s travel pick Las Vegas Sands Corp. (NYSE: LVS) up as much as 13.5%.
The bounce also attracted the attention of institutional call buyers, who grabbed fistfuls of near-term calls!
In the second and third spots for the Weekend Watchlist, New Money Crew turns its sights to the Motor City’s twin titans General Motors Co. (NYSE: GM) and Ford Motor Co. (NYSE: F).
I mentioned in Thursday’s Blitz Daily that both stocks were hit with a double downgrade from analysts at Wells Fargo, who suddenly realized demand for battery materials is outpacing supply.
The downgrade comes on the heels of disappointing earnings results. Ford went red thanks to their investment in RIVN while GM missed revenue expectations.
But it wasn’t all bad press for the automakers — CFO Paul Jacobson bought 35,000 shares of GM for $1.3 million while high-profile tech investor Cathie Wood added a $6 million position to her ARK Autonomous Technology & Robotics ETF.
We also saw institutional buyers snap up GM calls as the stock dipped Thursday and Alpha Sweep Alerts followed suit — netting a nice overnight gain for the strategy!
Meanwhile analysts at Morgan Stanley gave Ford an upgrade, citing underestimated value in the blue brand’s combustion engine vehicles — sending shares up 9% Friday.
With more market volatility in the days and weeks ahead, traders need to keep an eye out for smart money bets while these blue chippers hang near their 52-week lows.
P.S. I’m pulling back the curtain on one of my favorite strategies I’ve used for more than a decade…
And I’m confident that anyone can pick it up and start implementing it right away.
It doesn’t require any complicated software… or chart pattern memorization…
In my Insider Secrets Training Course, I’ll give my criteria for setting up a rock-solid trade idea, and walk everyone through the process step by step!
