Updating My 22-Stock Shopping List
As we await the Fed's rate decision and press conference, here are the nearly two-dozen names on my radar.
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Market action is slightly positive on Wednesday morning as investors await the Fed at 2 p.m. ET. The "Magnificent Seven" tech star names are lagging, but breadth is running positive on better small-cap action.
I’m looking for some sharp swings on the Fed news that should advance some charts and give us more trading opportunities in the days ahead. While we are waiting for the Fed decision, it is a good time to update my shopping list. This is a partial list of what I’m tracking and trading and it changes quite quickly.
ADMA Biologics ADMA: Extremely strong fundamentals. Continues to act very nicely as it tests highs. May need some consolidation
BridgeBio Pharma BBIO: Pulled back due to some institutional selling. Has good news flow and support around $26.
ClearPoint Neuro CLPT: Thin. Needs more consolidation but is developing well.
CompoSecure CMPO: New research from Benchmark with $17 target is pushing it higher. Looking for more add points.
Core Scientific CORZ: Excellent technical action. Go to name on any strength in bitcoin. Looking for a little consolidation around $11.50
Delcath Systems DCTH: Low volume slippage back to $9. Should be close to support.
EOS Energy EOSE. Turned back from highs around $2.80. Watch for consolidation and another run at highs.
Shift4 Payments FOUR: Continues to consolidate at highs and is not giving opportunities on a pullback.
Humacyte HUMA/ HUMAW: Still waiting for a Food and Drug Administration decision. Stock is drifting due to the uncertainty but appears close to significant support. FDA news could come at any time and deliver a big pop.
Lantheus Holdings LNTH: Has support at the 50-day simple moving average. I'm slowly building this position in the trading range
Intuitive Machines (LUNR): Up 50% on news of a massive NASA contract. Likely has good potential higher as short-term flippers exit
Altria Group MO: Defensive, dividend play pulled back sharply to 50-day support. Will continue to slowly accumulate in Dividend Reinvestment Program.
Mereo BioPharm MREO: Sharp pullback due to some confusion about insider selling and competition. Added some shares on Tuesday and Wednesday
AdvisorShares Pure U.S. Cannabis ETF MSOS: Off recent lows and likely to flop around for a while while awaiting rescheduling later this year. I’m watching careful for an opportunity to leverage up.
Nvidia NVDA: Should move on Fed news, but chart needs further development. Reduced some this week and will look for entries lower.
Palantir PLTR: Reduced into extreme strength. Maintain small tracking position and will wait for consolidation or pullbacks to add back.
Powell Industries POWL: Very thin and volatile. Reduced into big recent bounce. Will be aggressive buyer on next pullback
Sensus Healthcare SRTS: Trading thin and under 50-day while waiting for next earnings report.
TG Therapeutics TGTX: Breakout today on news. Reduced a little but this is one to increase further as chart develops
Uber UBER. Bounced back up into trading range and consolidate for a try at $74 highs. Will be interesting to watch after the Fed news
Viking Therapeutics VKTX: Volatile after testing recent highs. Has a gap on the chart that may need to fill around $62
Xeris Biopharma XERS: Consolidating at highs and showing signs of a breakout try.
At the time of publication, DePorre was long ADMA, BBIO, CLPT, CMPO, CORZ, DCTH, EOSE, FOUR, HUMA, HUMAW, LNTH, LUNR, MO, MREO, MSOS, NVDA, PLTR, POWL, SRTS. TGTX, UBER, VKTX and XERS.
