An Update on Palantir, Nvidia and 21 Other Stocks That I am Aggressively Trading
As earnings season begins to pick up steam, here's the latest on my positions and what I expect next.
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Market action is mixed on Thursday morning as strength in the Nasdaq 100 QQQ fades and the Russell 2000 IWM takes a rest after a big four-day run. Breadth is running negative and there is limited speculative interest.
Earnings season will pick up steam as big-cap technology names start to report. They will determine the next major market trend. Many of the small caps I favor will be reporting in early November, so they will likely drift around for the next two weeks.
Here is an update on some stocks that I own and am aggressively trading:
ADMA Biologics ADMA: Stumbled after auditors resigned and there is now some uncertainty about potential accounting issues. I expected new auditors to be named quickly and am positioned for a pop.
BridgeBio Pharma BBIO: A sharp dip washed out sellers and the stock moved back over the 50-day. Needs to consolidate before I’d consider an addition.
ClearPoint Neuro CLPT: Thin. Needs more consolidation but is developing well as it holds the 50 day.
CompoSecure CMPO: Broke to a new high but is extended and needs rest. Potential news pop if JPMorgan JPM buys the Apple AAPL credit card rights.
Core Scientific CORZ: Excellent technical action. Go-to name on any strength in bitcoin. Breaking out over $13.30.
Delcath Systems DCTH: Jumped this morning on third-quarter revenue news, which triggers exercise of warrants and cash inflow. Sold a little but will look for additions after some rest
EOS Energy EOSE: Broke out and is basing at highs. Holding and looking for new entry points.
Shift4 Payments FOUR: Trending nicely and may need some rest around $95.
Humacyte HUMA/HUMAW: Still waiting for a Food and Drug Administration decision. The company has a steady flow of good news and is ramping up for commercial sales but until the FDA acts on their application it isn’t going to be able to gain much momentum.
Lantheus Holdings LNTH: Moving over resistance around $113.50 and inching higher. Will be adding to this one as long it continues to hold $110.
Intuitive Machines (LUNR): Held $7 support and moved back up to the middle of the trading range. May need some time before testing highs.
Altria Group MO: Defensive, dividend play pulled back sharply but should have support due to dividend yield of 8%. Will continue to accumulate in dividend reinvestment program.
Mereo BioPharm MREO: Bounced back and is now awaiting some new flow in the next few months. Will buy on dips.
AdvisorShares Pure U.S. Cannabis ETF MSOS: Consolidating in a tight trading range and is unable to move much because of distrust of political promises. Limited downside risk but may not do much for a while.
Nvidia NVDA: Hitting new highs. Will continue to hold and may add for a trade in front of its earnings report.
Palantir PLTR: Sold the last of this and will wait for a better technical setup
Powell Industries POWL: Biggest winner of the year. Continues to trend higher. Trades thin and choppy, so it's hard to hold if position is too large.
Sensus Healthcare SRTS: Acting well as it awaits earning in November. I will buy on weakness.
TG Therapeutics TGTX: Popped back nicely after a rough patch and is setting up for a test of highs.
Uber UBER: Hit new highs on disappointing Tesla robotaxi event but down today on talk of a possible acquisition of Expedia EXPE. The deal is unlikely but I expect strong earnings on November 7.
Terawulf WULF: Similar to Core Scientific and a go-to name on strength in bitcoin.
Viking Therapeutics VKTX: Forming a strong base and I’m looking for positive anticipation in front of Obesity week in November. Will be adding.
Xeris Biopharma XERS: Moved through the $3 level and should consolidate in this area while awaiting earnings in November. A buy on weakness.
At the time of publication, DePorre was long ADMA, BBIO, CLPT, CMPO, CORZ, DCTH, EOSE, FOUR, HUMA, HUMAW, LNTH, LUNR, MO, MREO, MSOS, NVDA, POWL, SRTS. TGTX, UBER, VKTX, WULF and XERS.
