A Few Individual Stock Trades Stand Out
Plus a look at ARKK, the US Dollar, and KRE
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As mentioned in this morning’s original Opening Print, bonds have really caught my eye here.
I am curious though about if and when it will matter that the US dollar (DXY) and 10-year yields (TNX) continue to push higher. Both are at multi-month highs, yet the S&P continues to plow higher.
Even more interestingly, there seems to be a rotation out of typical safety stocks (MCD, WMT, etc.) and into growth stocks. That can be seen by yesterday’s action in ARKK, where it rallied almost 5% on its highest volume since March 31st.
Love ARKK or hate it, it’s a good proxy for growth stocks and yesterday’s daily chart gave bulls a darn good close. But it’s flying in the face of conflicting signals.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/59e748f1-c8d4-44ec-be2b-64160cc47d0f/image.png)
With that in mind, let’s look at the individual stock trades previously mentioned. In addition to the bonds, I’m looking at two possible longs and a short — (plus a look at KRE).
PEP
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/cd677c2e-572c-4536-a369-6e2c80b2cee9/image.png)
PEP Daily
PEP is fresh off all-time highs and has given us a rapid ABC correction down to prior resistance, as well as the 10-week and 50-day moving averages. Nibbling anywhere south of or near $187 is reasonable. Less aggressive bulls can look for the tag of the 50-day.
$183-ish is a reasonable stop-loss. On the upside, I’d love to see ~$190 as the first target.
AMZN
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/48b41286-6cd3-4cb9-8d0f-f225551c37e6/image.png)
AMZN Daily
Let’s see how AMZN handles the $113-ish level (+/- $1) as it comes into the 10-day ema and a retest of the Q1 high. That’s not unlike the UBER setup we had last week (although AMZN isn’t as strong as Uber, IMO).
$110 stop. $116+ is first target.
MET
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/17ef3527-4b80-443d-8182-a5aa103034af/image.png)
MET Daily
MET is our short setup, as it tangos with the declining 10-day ema and the prior low near $52.80.
MET trades with a correlation with the banks and KRE, so as goes KRE, so goes this name to some degree.
Stop can be in the $54 to $54.50 area. $50.50 is the ideal first trim, but $51 is okay too.
KRE
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/f389911a-848e-462e-87fa-ad29561da8af/image.png)
Speaking of KRE, keep an eye on that $42 area, which was the initial low in March. That lines up with the declining 50-day and 10-week moving averages.
I don’t really trade the KRE, but I do use it as a barometer.
Disclaimer: Charts and analysis are for discussion and education purposes only. I am not a financial advisor, do not give financial advice and am not recommending the buying or selling of any security.
Remember: Not all setups will trigger. Not all setups will be profitable. Not all setups should be taken. These are simply the setups that I have put together for years on my own and what I watch as part of my own “game plan” coming into each day. Good luck!
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