You Can “Bank” on These Earnings Gains…
It’s the beginning of earnings season – and we’re already pocketing gains from our big bank trades!
Check out my latest video below where I’ll share my market outlook for stocks now that the inauguration is behind us.
I’ll also reveal my best trading ideas for gold – and I’ll even share some price targets for my latest oil trades.
Get all the details below:
Keep it In the Money,
Chart of the Day: The FANGs are back in town
Once again, the market is getting a little frothy.
We’re getting spoiled by a strong rally. But the market will need to digest these gains one of two ways: chopping along or pulling back. My guess is we see some form of a retreat soon.
As you already know, the tech sector remains an important market leader. However, some of these stocks also need a rest. I’ve seen tons of smaller, speculative tech names explode higher. Speculation has run rampant.
But as I told you in December some tech mega-caps have been lagging for months. Yet these household names also looked primed for gains. I even highlighted Netflix Inc. (NASDAQ:NFLX) as it climbed back above $500.
Now, we can credit NFLX with reigniting the FANG+ trade. A huge earnings beat this week lifted the stock to double-digit gains on Wednesday, pushing it back to its highs.
Here’s an updated chart:
“If this momentum continues,” I said more than a month ago, “we could see this stock make a run toward $560 and its all-time highs before the year ends…”
Well, I was off by a few weeks. To make up for it, NFLX has also helped Apple, Microsoft and Google find their collective mojo. Keep in mind, many of these FANG+ stocks were consolidating for months. They have plenty of room to run following their own powerful breakouts…
— Greg Guenthner