There are a lot of strings tugging on the markets this week, so be ready for a wild ride. There are wo main choices to make. If you are conservative, step back or just stick to your long term plan. If you are looking to take a shot at picking the winner, look at the places most likely to take off.
The list of earnings coming out this week is long and there are a few that should be interesting. McDonald’s will show how its cuts will play out, Amazon is a bit of an indicator on the economy, Southwest has been tripping over itself left and right and GM will show how big auto is keeping up with the EV shift.
If I had to pick a longshot this week it would be First Citizen. It scooped up Silicon Valley assets in the post collapse yard sale and this earning report will provide a clue if that grab will be a sail or an anchor.
FCNCA has doubled since the news broke but will it keep going up?
It still has strong momentum and how the markets react to what it plans to do with the rescue efforts will be very telling.
it is definitely a pricey stock but it has the potential to provide a nice return. The May Call option at 1040 is around 33 right now. That would be a way to position for more upside without spending the equivalent of a small mortgage.
As always, we will keep an eye on this.
Keep learning and trade wisely,
John Boyer
Editor
Market Wealth Daily
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