Updates on 10 of My Positions While We Wait for the Fed
This is an excellent time to review positions and consider upcoming strategies. These stocks are among those on my radar right now.
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The Federal Open Market Committee’s interest-rate decision will be released at 2 p.m. ET Wednesday afternoon and followed 30 minutes later by a Jerome Powell press conference. I am concerned that the Fed Chair will be more hawkish than the market would like, accelerating the recent market selling, but I’m not going to make any big moves right now.
It is usually better to wait to see the market reaction to the Fed before acting. There are likely to be some swings, and we may even have to wait until Thursday before we have a full appreciation of the impact of the news.
Considering that, it’s an excellent time to review positions and consider upcoming strategies. Most of the names I follow have yet to announce first-quarter earnings, which will significantly impact my plans.
1. ADMA Biologics ADMA. I mentioned Tuesday that I like this chart. There is no earnings date yet so I’m just holding for now.
2. Despegar.com DESP. This stock has excellent numbers and a low P/E and has been in a high-level trading range. There is no earnings date yet, and I’ll keep the position small until something happens.
3. Evolent Health EVH. EVH looks like a compelling value, but it is acting poorly in front of earnings on May 9. I’ll keep this position small and look for an opportunity on the report.
4. Shift4 Payments FOUR. FOUR is very similar to EVH. Based on EPS estimates, it is a great value but has been drifting lower with no support. Earnings are due on May 9 and may be a good catalyst.
5. First Solar FSLR. FSLR has been in a trading range for a few weeks and has seen improved technical action. It will report earnings after the close on Wednesday and has the potential for a big move based on its huge backlog and great estimates.
6. Humacyte HUMA. HUMA has huge long-term potential but it will not have a lot of significant news until the FDA decision on its HAV product on August 10. I will continue to trade the short-term volatility and look for opportunities to build up my core position
7. AdvisorShares Pure US Cannabis ETF MSOS. MSOS finally had some much-anticipated news on Tuesday and is now pulling back. This news will change the entire industry, and I expect to see many trading opportunities as the industry develops. I made a small buy today on the dip.
8. Nvidia NVDA. I expect this stock to act better as its next earnings report approaches as market players anticipate a blowout. I may look to sell into a runup.
9. Uber UBER has been drifting down in part due to concerns about Tesla’s robotaxi initiative. I think there will be a solid report on May 8, and we’ll see institutional buyers build up positions again. This is a longer-term play
10. Xeris Biopharma XERS. Xeris has been languishing on a lack of news but is probably washed out at this point. There is no earnings date yet, but I expect some recovery while management updates us on the status of things.
I have quite a few other positions that I’m holding and will discuss in the future but these are some that are on my radar right now. Let me know in the comments section if you have any questions or would like me to discuss other names.
At the time of publication, Rev Shark was long ADMA, DESP, EVH, FOUR, FSLR, HUMA, MSOS, NVDA, UBER and XERS.
