Infrastructure Bill on Home Stretch

Jun 27, 2021 | Swing Trading the Infrasture Bill and making money with news

Weekly Newsletter- Week of 6.27.2021 

Infrastructure Bill on Home Stretch 

The S&P 500 recorded another strong week as it once again pushed to new highs after a 2.50% rise week over week. This gain marks the largest weekly gains since February- both the DOW and NASDAQ followed suit. Per usual, news coming out of Main Street seemed to be a primary factor behind the gain. Both parties in Washington have now come to terms on the highly publicized Infrastructure Bill. The new bill will cost roughly $1.2 trillion to fund, much lower than original predictions and now no longer include additional funding requests for things like education, child-care, and energy requirements. Although the bill is not officially signed, it seems to be likely that an agreement will be met shortly. 

Is Nike A Growth Stock Again? 

Longtime footwear and athletic apparel juggernaut Nike exploded this week, jumping over 20% in a five day period. With an increased focus on direct-to consumer sales, Nike sales exploded 73% for the quarter. To note, it's believed that many orders that were originally disrupted due to supply chain issues may have been fulfilled this quarter- causing an over-inflated report. We’ve talked extensively on our social media about the Retail and Apparel sector, as the entire sector jumped nearly 15% this week. 

Weekly Swing Trades

PNRG (Prime Energy)

October 2, 2022

Entry Price:

80.62

Stop Price:

76.85

Target Price:

88.04

Time Frame:

1 Week Hold

Expecting a short-term bump after a recent OPEC+ announcement regarding the a supply constraint to oil. The constraint would result in ~1M less barrels of oil per day, which should cause a price jump. Low RSI and bouncing off our 250 day moving average, both hallmarks of a good swing trade.

DV (Doubleverify)

October 2, 2022

Entry Price:

27.75

Stop Price:

26.75

Target Price:

29.00

Time Frame:

3 Week Hold

Using our moving averages heavily on this swing trade, look for continued strength as we try to notch out a 6-8% gain. Specifically, we are taking advantage of of a recent cross over in the 50 day moving average. Last week closed down, so wait for confirmation of a reversal.

FAA Approval Helps Virgin Galactic Soar 

This week, the FAA approved Virgin to begin flying it's passengers into space. After completing a previous round of test flights last quarter, the stock has been on fire. Shares jumped over 55% this week alone! An absolutely massive week for its investors. We know Jeff Bezos has Blue Origin and Elon Musk has SpaceX both waiting in the wings. With the first mover’s advantage belonging to Virgin, it appears the space race is just getting ready to take off. As one of the most heavily shorted stocks on the market, short-sellers have lost a combined $3 Billion for betting against the stock.

Crypto Continues to Crumble 

Another rough week for all of crypto as key strength levels continue to come under pressure. This week Bitcoin nearly dropped below $30,000, a level that has not been broken since late 2020. Bitcoin is down 50% from April highs, while Ethereum is trading 60% below its highs. 

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Weekly Watchlists

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Weekly Review

Market Performance- Week of 09.25.2022

Recent Winners

SBUX (Starbucks)

SBUX (Starbucks)

Entry Price:

85.00

September 11, 2022

Price at High:

89.90

Return for Members:

5.76%

Timeline:

2 Month Hold

Strong momentum over the last few weeks. Watch for a mean reversion, but if moving averages stay consistent look for an early play to open the week.

PNRG (Prime Energy Resources)

PNRG (Prime Energy Resources)

Entry Price:

83.20

September 4, 2022

Price at High:

100.00

Return for Members:

20.19%

Timeline:

3 Week Hold

PNRG had a drawdown to historical levels of support (around the 100 day moving average). Looking to make an entry in the coming days as we also have macro tailwinds with the energy crisis in Europe.

PYPL (Paypal)

PYPL (Paypal)

Entry Price:

87.00

August 28, 2022

Price at High:

103.00

Return for Members:

18.39%

Timeline:

4 Week Hold

Playing off the dip in June, we're starting to see momentum as the 50MA is crossing over the long-term averages. Look to for momentum to continue and an early entry on Monday.

Recent Watchlist Winners

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