Financial Movers Podcast #35
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Earnings and how to properly play them (NOT HOW YOU THINK) I don't gamble them
How are my calls doing from Monday’s pod (#33): LMT, TXN, CTVA
New setups that have presented themselves over the week:
Before we get started, SPX on its 6th consecutive winning day and now having trouble breaking through 3,330 ---- RSI near overbought
1. Earnings for Thursday and Friday:
Thursdays earnings (TM on the watchlist from #33)
Trading at $119.24 on Friday, hit $125.83 (+5.5%)
Toyota has 45 overseas manufacturing companies in 26 countries 359k / TSLA has 3 factories, a total of 48k employees and plans to expand.
TM has 15x the manufacturing facilities, 7.5x the employees
Toyota spent $22 billion on R&D in 2018
That's more than all of TSLA’s 2018 revenue of $21B
Toyota Div 3.20% ($3.80)
I don’t gamble, but earnings are good to watch for Power Earnings Gap (PEG)
See which stocks PEG after earnings. Takes them to the “next level” of share price
Gapped up +5.1% after reporting earnings (no idea if they were good)
Topped highest price since June 5th, before stock dropped lower ($127.82) hitting $130 (+10%)
Keep it on watchlist, patience. Don't want it to begin closing the gap which would be when price goes below today’s open $123.37
2. Calls from Monday:
LMT: $377.10 ----- Now $383.50 (+1.69%)
- As it goes higher, I move my stop up. From Friday’s low $371.44 to Monday’s low $376.29
TXN: $129.35 ---- Now $132.09 (+2.11%)
Initial target was to get to $132, which it has. Move to $136 is next. Moving my stop from Friday’s low of $125.43 to yesterday’s low of $128.71
Corteva (CTVA): $28.52 ----- sold yesterday at $28.81 (+1%)
3. New setups that have presented themselves over the week: Two PEG’s to watch
- Gapped up (+4.77%) after earnings on monday. Watch to see if $170 can hold support while waiting for EMA’s
Gapped up (11%) after reporting earnings last Wednesday
Holding strong above $135, which could be new support levels made after gapping
Having difficulty breaking through $145, watch for selling and consolidation, but i doubt it closes the gap. Just needs MA support levels to catch up while it cools off.
This concludes episode #35 of the Financial Movers podcast.