Happy Sunday from where the turf meets the surf in beautiful Del-Mar, California. As the thoroughbred season begins here, so do WallSt summer vacays in the Hamptons.
Often this is the time of year, when the summer doldrums start to kick in, and some trading begins to thin, all the way through Labor day. Is that a promise? No, but just remember that anything can happen, and often seasonal weakness begins this time of year. And this year we’ve had a very good run from all the way back in April, and now it appears theres some complacency in the markets as we just stepped into “extreme fear” on the fear and greed index - https://www.cnn.com/markets/fear-and-greed Don’t forget about the hedges Ive mentioned for when markets come down ie; SQQQ UVXY SPXU calls, or DIA TQQQ SPY IWM puts to help lessen the hurt, or even boost your profits.
That being said, we’re still in a bull run, and the trend is your friend. So, without further adeiu, and in o particular order, lets get into this weeks 7ForSunday, starting with the two EVols ACHR and JOBY, both of which have been very strong lately as excitement build for this new form of transportation on the horizon. While both appear overbought from a technical perspective, some days (1-3) of “rest” would be welcome for further ascent into the 20s soon
Next comes a new name TSSI (#1 on this weeks IBD Top 50) They provide IT systems planning, deployment, and support services, including equipment configuration, integration, and maintenance. Cramer just called it #2 in its business behind Coreweave, so you know what that means, right? lol….. same trading rules apply.
Fourth on todays list is well know Tesla. We all know they are more than a car or software company, and he’s been heating up lately. $331-2 ish should do the trick for the next leg higher
Next up and #1 in its industry, ROAD - Construction Partners, is a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Texas. He tried to breakout late last week, but failed and came in. Look for a sustained move on big volume above $112
Sixth in this weeks list is a name we have traded before and hotly tied to the energy industry as Constellation Energy produces and sells energy products and services in the United States. The co. offers electricity, natural gas, and energy-related products, It has approximately 31,676 megawatts of capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. Sure looks ready to go again above $328.5 to assault ATHs above $342
Last on this weeks list is another name we’ve traded before RBRK - Rubrik provides data security solutions to individuals and businesses worldwide. The co. offers enterprise data protection, unstructured data protection, cloud data protection, SaaS data protection solutions, and identity provider services protection. Wait for a break of the downtrend near $90 should be the go
So there ya have it, this weekes 7forSunday ! As usual, please double check for earnings dates on the names listed, as earnings trades are a 50-50 proposition at best .
If you enjoy reading this every Sunday, please feel free to share on @malibuinvest on X. If you dont enjoy it, then nevermind, lol. Make it a great Sunday, and I’ll see you on X @malibuinvest & @malibuprivate tomorrow