4 NEW Adds to Your Watchlist
Welcome to the Rude Awakening for February 1, 2021…
The first day of a new month of trading!
We are looking at a market with a strong opening this morning.
All the major indices still show buy signals, but they are showing some fatigue.
We’ll continue to track them, as always.
But let’s get to our own specific watchlist. We have a few new ones to add!
4 More to Add to Your Watchlist
Starting with iShares Silver Trust (SLV), the ETF that tracks silver, this is another one being targeted by redditors.
Technically silver was strong before this, but now it’s way up — almost 12% this morning.
So, SLV is on our bullish trades watchlist.
We also have Harley-Davidson, Inc. (HOG), which is reporting earnings before the market open tomorrow morning.
The options indicate about a 10.4% move, which is typical for HOG post earnings.
Another one for us is Sirius XM Holdings Inc. (SIRI). They are also reporting earnings tomorrow before the opening bell. Historically, we can expect to see less than a 2% move post earnings on this one.
Right now, though, options indicate over a 9% move. This means options are overpriced on SIRI, which could make for a good credit spread opportunity.
Last but not least, a turnaround buy opportunity, is Bank of Montreal (BMO).
The technicals on BMO are still not giving us a buy signal, so we are waiting for the technicals (MACD, histogram, RSI) to turn around and show us the strength we believe is coming in BMO.
Insider buying is strong, so is P/E, price to sales, price to cash flow, all fundamentals are strong…
Everything is in place for this to be a buy, we are just waiting on those trading indicators.
Have a great rest of your trading day.
We’ll talk again tomorrow.
Editor, Rude Awakening