Apple (AAPL) – This is the stuff I’m talking about… Turn on the TV this morning and all you hear about is Apple stopping the sale of the Apple Watch Series 9 and Apple Watch Ultra 2 ALL DAY LONG. And of course, “The Crowd” obliges to the fear mongering by taking shares of AAPL down, while the Nasdaq closed 1% higher for the day.
Allow me to cut to the chase. Masimo (MASI) does $2.1 billion a year in sales compared to Apple’s $40 billion a year for the Apple Watches. The Apple Watch will be for sale on the website again soon, and AAPL shares look good at their bullish 20-day moving average.
Nike (NKE) - You know that Golden Cross situation we just finished talking about? Nike shares are preparing to make the same bullish pattern, and shares went “on sale” after the close Thursday.
Nike dropped their earnings results after the close on Thursday and they looked good, except for two things. Top line revenue and some of the company’s forecasts were a little light. The stock dropped 5%.
Nike’s management also announced some cost cutting some costs that will increase their already attractive margins, a move that will improve those forecasts quickly. I’m considering the pullback to $115 as an opportunity to buy the dip on NKE.
Worthington Steer (WS) – I’m just putting this on your radar.
Worthington recently spun off Worthington Steel. Seems very timely, doesn’t it?
The newly minted company announced earnings on Thursday afternoon, and frankly, I can’t make heads or tails of the report since there’s nothing to compare. But after more than 30+ years of experience, I can tell you that sometimes the markets are all about timing and your radar.
I’m not fancy on the stock at $30 – 24% higher than the spin-off price – but I’ve got an alert set-up on my charts to let me know when the stock pulls back to $27.50.
Blue Horseshoe – cough, cough - I mean “CJ,” like Worthington Steel at $27.50.
About the Author
Chris Johnson (“CJ”), a seasoned equity and options analyst with nearly 30 years of experience, is celebrated for his quantitative expertise in quantifying investors’ sentiment to navigate Wall Street with a deeply rooted technical and contrarian trading style.