Yesterday's picks made money - will we do as well today? QCOM is my earnings bet today - Market update -2/2/22
Description
It's a lucky day for 2's so let's make it 2 days in a row.
Yesterday our analysis of Google and AMD made us significant gains overnight if you listened and bought. Today we're looking at 2 stocks in particular with earnings - Facebook (ie Meta) and Qualcomm.
Both of these stocks we should have bought at yesterday's price, but they just didn't feel as positive as Google and AMD. If I had to pick one, it would be Qualcomm (QCOM) to play today. I think if you can get it under $180, it's a $200 stock by the end of the year even IF it goes down on earnings. They will have to have stellar earnings like AMD did to justify an up move, but I do expect with 5G expansion they will see significant gains. The guidance will be key.
Today's "get in to play" stock is Cleveland Cliffs. They are an iron company and uniquely positioned for the infrastructure bill that's passed along with being one that flounders between $18-$25 many times before. Their earnings are coming up and the only downside to their earnings might be inflation and weak forward guidance (which I don't expect since we have trillions of $'s to be spent on infrastructure in the coming year).
For volatility, continue to use UVXY and SVXY to day trade along with energy/oil. Natural gas is extremely volatile these days so play BOIL/KOLD.
United States
