Tesla finally announces date of 3/1 stock split
Finally, on Friday, August 5, in documents filed with the Securities & Exchange Commission Tesla put dates to the split its 3/1 split
Please Watch My New YouTube Video: Quick Pick First Majestic Silver
My one-hundred-and-sixty-first YouTube video “Quick Pick First Majestic Silver” went up today. This hasn’t been a great year for precious metals hedges. However, allow me to make the case for First Majestic Silver (AG), given the coming recession and my expectations for the Fed’s schedule of rate increases. A hedge for 2023? At the current price, it’s an attractive bit of insurance against a big surge in risk.
Natural gas, corn, and wheat lead commodities higher today
At the close today, July 26, the Teucrium Corn Fund (CORN) was up 2.55% and the Teucrium Wheat Fund (WEAT) was ahead 4.11%. Both of those commodity plays outgained the U.S. Natural Gas Fund (UNG) with its 1.38% move higher. But for consistent gains–and the potential for more–I’d have to say that natural gas is my favorite commodity.
Time to take some chip money off the table–in the short run
We’ve had a great one-week rally/bounce/whatever in chip stocks. Nvidia, for example, was up 17.42% for the week that ended on Thursday, July 21. Advanced Micro Devices (AMD) was up 8.71% in that same period. But I think there are good reasons for thinking that this move was just a very short-term gain in a long-term Bear Market that remains in place. So today, I’m taking some chip money off the table.
Rally or rotation? I vote for rotation
In the last week Technology stocks, and chip stocks in particular, have staged a very impressive rally off of a really low base. Nvidia (NVDA), for example, is up 17.43% in the week that ended on July 21. That still leaves the stock down 39.43% for the year. Advanced Micro Devices (AMD) is up 15.36% in the last week. And it’s still down 37.85% for 2022. Qualcomm (QCOM) is up 1.85% for the week. And down 16.26% for the year. Impressive. But I’d be more inclined to see this as a sustainable rally if stocks were rising across the board–with tech and chips leading the way, perhaps.
Instead what I’m seeing is a rotation from safe and less risky stocks
Adding Invesco Dollar Bullish Fund ETF to three portfolios
In my July 7 YouTube video: “Quick Pick UUP” I added the Invesco DB U.S. Dollar Index Bullish Fund (UUP) to my Perfect 5 ETF Portfolio. (To replace the Consumer Staples Select Sector SPDR ETF (XLP) in that portfolio. More on that in another post today.) Today I’m also going to add this dollar ETF to my Volatility Portfolio and to my Jubak Picks Portfolio. I’m setting a target price of $33.20 in the Jubak Picks Portfolio. You should take the fact that I’m adding a dollar position to three portfolios as an indication of how strongly I feel about a continued strong dollar.
Special Report November 30 version: Own the Future for Pennies with my 10 Best Penny Stock Picks–Eight picks so far Tellurian, Nel, Tritium DCFC, Vestas Wind, Natura, Lynas, Luminar, and ESS Tech
Special Report: Own the Future for Pennies with these 10 Penny Stock Picks. Pick No. 1: LNG startup Tellurian. Pick No. 2 Nel. No. 3 Tritium DCFC. Fourth Pick Vestas Wind, Fifth Pick Natura, Si.xth Pick Lynas Rare Earths Stay tuned for 4 more.
Please Watch My New YouTube Video: Quick Pick Cheniere Energy
My Quick Pick this week is Cheniere Energy (LNG), a liquified natural gas producer that I currently own in my Volatility Portfolio on JubakAM.com and plan to add to my Jubak Picks portfolio as well. The stock has fallen as U.S. natural gas prices have taken a hit after a fire at the Freeport liquified natural gas facility that has caused a backup in U.S. LNG exports. I think it’s a great time to get in on this long-term story at Cheniere, which just announced that it had given the go-ahead to the construction of a new LNG chain at its Corpus Christi facility. That chain won’t be in operation until 2025 but I see the demand for U.S. LNG continuing to rise through then.
Please watch my new YouTube video: Quick Pick U.S. Natural Gas–update
My one-hundred-and-forty-sixth YouTube video “Quick Pick U.S. Natural Gas Fund–update” went up today. The fire at the Freeport Liquified Natural Gas facility has disrupted U.S exports of natural gas. That’s resulted in a short-term glut in U.S. markets and what I think is a short-term buying opportunity for long-term gains in natural gas and this fund. Especially with winter and its surge in natural gas use just a few months away.
It’s a war of two narratives–today “recession” narrative replaces “rate cut” narrative and stocks fall heavily
Yesterday, the stock market was up with the Standard & Poor’s 500 gaining 1.46% on the day and the NASDAQ Composite up 2.49%. Listening to the Federal Reserve’s policy statement after the June 15 meeting of its Open Market Committee, Wall Street chose to hear a promise of interest rate cuts as early as the end of 2023 and certainly in 2023. Aggressive interest rate increases in 2022, from this perspective, are just a necessary precondition to those interest rate cuts. Today, the stock market is down with the Standard & Poor’s 500 falling 3.25% and the NASDAQ Composite off 4.08% at the close. The narrative on investors’ and traders’ minds today is the rising odds of a recession–75% odds in favor by 2024 a Bloomberg survey of economists says with 25% odds of a recession in 2023. For a day that trumps the hopes for 2024 interest rate cuts (which would, after all, only materialize if the economy has, indeed, tumbled into recession. I expect this “War of the Two Narratives” to continue for a while
Please watch my new YouTube video: Quick Picks Wyndham Hotels
My one-hundredth-and-thirty-fortieth YouTube video “Quick Pick Wyndham” went up today. My Quick Pick this week is Wyndham Hotels (WH), which owns a large portion (40%) of the U.S. market in branded economy and midscale hotels. This is gearing up to be a big summer for travel as the economy emerges from the pandemic, and I think inflationary pressures will push many consumers who decide to travel to look to save a buck or two on their trips. I will add shares of Wyndham Hotels and Resorts to my Volatility Portfolio on Monday, June 6.
Chargepoint misses on earnings but sees 100% growth in revenue from electric vehicle charging market
Yesterday, May 31, after the close electric-vehicle-charging company ChargePoint Holdings (CHPT) reported a huge jump in revenue–way above Wall Street and management projections–but a big miss on earnings. Today, June 1, the shares finished down 2.66%. Sales for the fiscal first quarter of 2023 came to $81.6 million. The Wall Street consensus projection called for $75.7 million. Management had guided investors to expect $72 million to $77 million for the quarter. In the first fiscal quarter of 2022, revenue was $40.51 million. That’s a year over year revenue growth rate of 101% But…
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