News / Uncategorized
[Platinum Watchlist] (2.21.23) 3 stocks we are watching!
[Platinum Watchlist] (2.21.23) 3 stocks we are watching!
August 21, 2023
Good morning.
We have a shortened trading week, and the futures are currently down around 1%. The FOMC meeting minutes are going to be released tomorrow and the market is still hoping there will be some small about of information in this report that the FED may stop rate hikes this year and may even start to reduce them. This is despite the fact several fed speakers have not endorsed this concept.
Today we are going to manage the current portfolio.
ABBV will need to keep support at the 200-day SMA to keep from getting stopped out.
PEP will need to keep closing above the 9-day SMA before getting stopped out with resistance at the 50-day SMA.
GD has shown some promise and we are still waiting for a full candle close above the 9-day SMA for price action confirmation.
The market (SPX – S&P 500) has been in a downward trend. In yesterday’s video I talked about the term “The Trend is Your Friend” and how traders should not try to fight the trend.
This is a time as swing traders we remain patient, manage our positions and wait for set-ups that give us the best opportunity for success.
Have a Great Day! This information is for educational purposes and is not a recommendation to buy or sell a security.
Share this article:
More in Uncategorized:
Hedge funds and banks typically use multiple time frames for intraday trading
Hedge funds and banks typically use multiple time frames for intraday trading, as this allows them to gain a comprehensive...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
August 30, 2024
Nvidia Earnings Call: A Record Quarter with a Twist
Nvidia’s Q2 earnings call was a mixed bag, with the company reporting a record quarter but also revealing a drop...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 29, 2024
Nvidia Earnings: A Critical Moment for Big Tech
As we approach Nvidia’s earnings report, the tech world holds its breath. This isn’t just about one company’s performance; it’s...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
August 28, 2024
The Sleeping Giant: Why Intel is an Undervalued Stock
As the world’s largest semiconductor company, Intel (INTC) has long been a household name in the tech industry. However, despite...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 23, 2024
The Trillion Dollar Addiction...
The Trillion Dollar Addiction That Amazon, Google, Meta and Microsoft Will Be Selling Next Year As I discussed in my...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
August 19, 2024
What is an AI Agent? What Can It Do For You? Where Can You Get One?
As I discussed with my tribe during our recent stock talk, I’m excited to share with you the concept of...
[Platinum Watchlist] (2.21.23) 3 stocks we are watching!
August 18, 2024