Riding the Wave of New All Time Highs
Welcome to Rude Awakening for Monday, December 7, 2020.
I was out of commission at the end of last week, but back and feeling great with a new video for you today…
Picking Up Where We Left Off
We are picking up a new trading session continuing to push those all time highs in the S&P futures.
Opening up this morning, the major indices are looking pretty flat, but the day is young…
The word of the day, folks, is clarity. That is what the market is seeing.
The market doesn’t care what happened in the past, or even what is happening in the present. The market is a future-facing mechanism.
Now, with the vaccines looking to be in a good place to get out into the population, the market is feeling good about coming out of this pandemic sooner than later.
The market is looking hopeful to eradicate the Covid issue that has been plaguing it for the last year…
Where to Focus: 3 Stocks for the Watchlist
There is a lot of activity taking place.
We will start by looking at Ford Motor Company (F), who’s delaying the release of their new Ford Bronco, already with 90,000 preorders.
With that negative news, F is down about 1.5% this morning. We are looking for a pullback on F based on our technical analyses. We would look for it to come back down to its 50day MA area, above the $8 level, for a potential buy on our watchlist.
Next, take a look at Eastman Kodak Company (KODK). This is the big one we’re looking at today…
You might think you know who Kodak is and what they do, but I’d bet you’re wrong. It’s been a while since Kodak has made their money from film. They delved into Bitcoin for a while, and you can see that period on their chart, shooting from $2 to $60 a share.
Apparently they are now a healthcare company! They have taken a $750 million loan guarantee from the U.S. government for drug production…
In the midst of all this, KODK has been dealing with a lot of internal mayhem, without any controls in place of their company hierarchy. But they have been let off the hook for any malfeasance after procuring that loan.
Now, KODK is absolutely exploding to the upside, up over 65% this morning.
And last but not least is Lyft, Inc. (LYFT), the rideshare company and competitor to Uber.
Piper Sandler analyst Alexander Potter upgraded the stock to overweight from neutral, which is the catalyst for the gains the stock is seeing today.
That’s it for today folks. Make sure to keep an eye on these three.
We’ll talk tomorrow.
Editor, Rude Awakening