Stocks For Breakfast 10-12-23

The Market 📈

So 4 days ago the market was ready to fall off a cliff and everyone with the podcast calling for a bear market the last 2 months pounded their chest as loudly as they could and claimed “I was right!”

Well here we are all jacked up as the market does a 180 and just like that, everyone’s talking about a rally into the end of the year. 

If that doesn’t prove to you that nobody knows what’s going to happen next I don’t know how much more validation you need. 

Trading is about what’s probably going to happen next and what we’re definitely going to do. It sounds like we’re predicting but we’re actually not, at least profitable traders aren’t.  

What we’re doing is assessing all of the pieces on the board and determining the likelihood of it continuing. That’s different from saying I know where it’s going.  

Winning traders make the distinction by saying I see where it’s going now and I have a set of rules that tells me if it’s still happening or if it’s changed.

We spent a massive amount of time last Saturday on our weekend game plan session discussing the pending catalysts for the coming week, and how to manage your capital.  

Well yesterday we got the FOMC minutes and we gave everybody 5 days’ notice that 2:00 p.m. on Wednesday would be a fantastic opportunity to trade. Aand wow price action lived up to the hype. If you’re a day trader I hope you took advantage.

So now we head into a new day and 90 minutes from when I’m writing this massive economic data is coming out that pretty much everybody is waiting for. And then tomorrow we have earnings from the major banks. 

A glorious time to be a trader. Your biggest challenge is patience. Patience to wait for good ideas and then patience to hold the winners. 

The keys to the kingdom are in your hands; it’s up to you how you handle the responsibility.

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Stocks For Breakfast 🥞

Good morning, and welcome to a new edition of Stocks For Breakfast, your essential guide to the fast-paced world of finance and investment. 

As the sun rises and the markets awaken, we’re here to provide you with the most pertinent financial news and emerging trends, served up with your morning coffee.

We start with the U.S. futures market, where anticipation is high as investors await the latest Consumer Price Index (CPI) inflation update. 

With the economy on a tightrope, this update could prove to be a game-changer, and we’ll be delving into what this means for your portfolio.

In the aviation sector, turbulence continues as Delta trims its full-year profit outlook due to escalating fuel costs. We’ll unpack how this might impact the broader industry and what it could signify for your investments in the sector.

Meanwhile, the fast-food industry is serving up surprises with Domino’s Pizza reporting a GAAP EPS of $4.18, beating expectations by a significant margin. 

However, a $50 million miss in revenue has left investors questioning the company’s performance. We’ll be slicing into the details to understand the full picture.

In the realm of investment giants, Warren Buffett’s Berkshire Hathaway has made a bold move into the fintech sector, with a significant investment in Nubank. 

This eyebrow-raising shift towards a digital currency-friendly bank has ignited discussions about the future of finance, and we’ll be exploring what this could mean for the broader market and your investment strategy.

Elsewhere, Walgreens has released its Q4 2023 earnings, and we’ll be analyzing the numbers and their implications for the health and retail sector. 

Lastly, we’ll be taking a close look at the GBP/USD pair, as traders eagerly anticipate a breakout following today’s economic data release.

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