Markets are squeezing higher Friday as we approach the end of May.
And two of our New Money Crew Weekend Watchlist members are among the names feeling the late-week squeeze…
Shares of Rivian Automotive Inc. (Nasdaq: RIVN) jumped as much as 11% from Monday’s open while PayPal Holdings Inc. (Nasdaq: PYPL) shot up around 5.5% Friday!
Barring some kind of catastrophic breakdown, the major indexes will end the week in the green for the first time in two months.
This is not the kind of market we’re used to seeing, so don’t expect volatility to go away any time soon…
Especially when it gives market makers an opportunity to drain volatility out of options chains like it did this week with Gap Inc. (NYSE: GPS).
And even though we’ve taken some lumps, the New Money Crew strategies have put another solid week in the books…
We didn’t see the fireworks we had last week with Walmart Inc. (NYSE: WMT), but Wiretap, Weekly Blitz, and Alpha Sweep alerts each scooped up meat-and-potatoes returns while Project X got off to a hot start with a nice win in Suncor Energy Inc. (NYSE: SU) calls!
Blitz Daily readers even had a chance to join in with over 50%* peak returns on Albertsons Companies Inc. (NYSE: ACI) June 17, $28 strike calls since Tuesday’s feature!
With those wins in our pocket, I have a few more bullish names to put on the New Money Crew Weekend Watchlist for the short week ahead…
New Money Crew Weekend Watchlist: May 27, 2022
First up for the Weekend Watchlist, New Money Crew is seeing some smoke hanging around tobacco name Altria Group Inc. (NYSE: MO).
For decades, the story has been that when times get tough, people need a release. And for a lot of folks, that means having a smoke.
And judging by Altria’s chart, 2022 has been tough for everyone…
While markets have seen massive selling, MO has quietly added about 25% to its share price since December.
May has been a rough ride but the stock has rallied after two sharp sell-offs, and shares are back above the 50-day moving average for the first time since May 9.
We’re seeing a slew of bullish options bets flow into this time-tested dividend stock, so if it’s not on your radar, it should be.
Another stock that’s had a solid 2022 so far is Bristol-Myers Squibb Co. (NYSE: BMY).
The name has remained strong in the face of major selling in the biotech sector, gaining over 38% since December.
To put that in perspective, check the chart for the SPDR S&P Biotech ETF (NYSEArca: XBI) and with the iShares Biotechnology ETF (Nasdaq: IBB) in purple. Both have lost more than 25% of their value over that same timeframe — Ouch!
BMY will be among the presenters at the Bernstein’s 38th Annual Strategic Decisions Conference on June 2, where we might get some details about its next cancer drug review coming later in June.
And we’ve seen a few outsized options orders hitting the tape, looking for some upside ahead of these catalyst events.
New Money Crew readers keeping tabs on Blitz Daily this week won’t be surprised to see The Wendy’s Co. (Nasdaq: WEN) close out this Weekend Watchlist.
Shares of the burger baron have picked up after an ugly 12-week, 28% slide.
The company’s largest shareholder announced Tuesday it was searching for a potential acquisition…
Whether that means Wendy’s is about to snatch up an undervalued rival or merge with one of its top competitors,… the news strapped a rocket to the stock, gaining 15% since the story broke.
Weekly Blitz Alerts has already taken some profits on the trade… But stories like these have been some of the most explosive movers so far in 2022, so keep this square in your sights.
P.S. The market is tanking and inflation has officially reached four-decade highs…
And anyone thinking the Federal Reserve is coming to the rescue is sorely mistaken.
Millions of Americans are having enough trouble filling their gas tanks let alone staying afloat in this choppy market.
As I see it, sitting on the sidelines is NOT an option!
So I’ve developed a game plan to help tackle this bear market — and keep inflation from working AGAINST us!
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
