What a week it was. S&P 500 went sideways (0.5%), Nasdaq came down a bit (2.25%), and the DJIA crept up slightly (1.75%). For my fellow Canadians out there the TSX EXPLODED up (2%)! Again much volatility was experienced on an individual stock basis and gold came down to some multi month lows. Overall uncertainity is still very high and COVID and EV related stocks continue to dominate the news giving massive opportunities for traders on a daily basis. Here’s what we looked at this week:
Tesla Motors (TSLA) – What a week for this EV behemoth! Had a day this week of a $300.00 yes $300.00 HUNDRED dollar intra-day swing! Just bonkers. A day traders dream and an investors nightmare if they bought after $1000.00. Keep your eyes on the royalty of stock volatility right now.
Novavax Inc (NVAX) – The COVID-19 vaccine news announcements are one hell of a drug. Investors are hooked on it right now and again, that just means advantage = anyone with half a brain. If you short all these COVID-19 stocks and hold until one actually comes through, you will be sitting VERY pretty!
Netflix (NFLX) – Disappointing guidance only to those who had unrealistic expectations for this tech darling. Still a GREAT buy opportunity for long term investors and swing traders alike.
Wayfair (W) – Proof that if you are making money in today’s world NOTHING else matters. Scandal broke last week of a potential use of its site for child trafficking and nothing happened… Still a bit high for my liking. I don’t see much more upside from here..
Equillium (EQ) – See $NVAX.. Just unsustainable pops. The vaccine won’t even make that much money anyways with how much debt these companies are taking on to produce it…