Materials… if you can believe that. I know, it seems unlikely, but companies like 3M (MMM), DuPont (DD), and Martin Marietta Materials (MLM) are leading the market higher with performances that, in some cases, are doubling that of the large-cap technology sector. Martin Marietta shares are up almost 30% year-to-date, without a mention from the […]
Archives for March 2024
March 2024 - Money Morning - Only the News You Can Profit From
Inflation Is Getting Stubborn... But We’re Buying MORE!
Markets are closed this morning in observance of Good Friday, but the Federal Government is still hard at work (not really). We got the latest “print” from the Government’s personal consumption expenditures (PCE) price index. This is Jerome Powell’s favorite inflation gauge. The trend has a heavy influence on whether the Fed will start raising […]
Three Stocks: Tesla, Palantir, and CarMax
Tesla Dan Ives of Wedbush joined forces with Deutsche Bank to provide a double “buy reiteration” of Tesla (TSLA) shares today, but there was a little “sleight-of-hand” that went with one of the broker’s comments. Dan Ives has been a perma-bull on Tesla stock forever. I have to say I can’t blame him at all. […]
Three Stocks: Reddit, Gamestop, and Nvidia
Reddit Reddit (RDDT) shares are taking a well-deserved break today. The stock is trading 12% lower, as sellers appear to be profit-taking on post-IPO gains of more than 100%. As I always say, there’s nothing wrong with taking profits, especially on gains like that in less than a week. Literally, we should expect to see […]
MindMed's Set to Pass a Psychological Market Test
It’s a little ironic (strangely I hear Alanis Morissette singing that as I type) that I’m talking about psychological levels with a psychedelic stock. Shares of Mind Medicine (MNMD) are preparing for one of the biggest moves a stock under $10 can make. The stock is setting up for a breakout above $10. Sure, the […]
Amazon Just Kicked the Legs Out from Under Walgreens
It’s been a horrible couple of years for Walgreens Boots Alliance (WBA). I never really considered the stores a “retail store” in the sense that I went there to buy anything outside of Band-Aids, Tylenol, sunscreen, and maybe an Ace Bandage here and there. On a sidenote, I buy all of that from Costco (COST) […]
Three Stocks: Super Micro Computer, Tesla, and Krispy Kreme
Super Micro Computer Here we go again. Super Micro Computer (SMCI)’s shares are preparing for a breakthrough $1,100 on their way to our initial target of $1,250. The stock just experienced a 30% pullback from its recent highs, as traders took profits from a massive 80% rally. Consider this: That 80% rally occurred over an […]
Three Stocks: Super Micro Computer, AMD, and Tesla
Super Micro Computer Here we go! After a short spate of selling, shares of Super Micro Computer (SMCI) are on the run again after JPMorgan initiated coverage on the shares with an “Overweight” recommendation. The addition of JPMorgan to the Wall Street Analyst coverage of the stock represents the “Discovery” that I talk about in […]
Chinese Chip Wars Tank Intel Stock
The Chip War with China has been a game of chess between two superpowers. Last night, China made the latest move, and this morning, it’s taking a few big names down – namely Intel (INTC), AMD (AMD), and Microsoft (MSFT). Headlines splashed across my screen this morning that China is moving to implement guidelines that […]
Speaker of the House Mike Johnson Should be Buying Gold Right Now
We talked about gold late last year, remember? It all started with this article from Bloomberg, identifying a huge trend in the world’s Central Banks buying gold as they were preparing for the Federal Reserve to pivot interest rate policy. Last week, Chairman Jerome Powell indicated that the pivot was coming, which is setting gold […]