Add Tyson Foods - TSN to the list. Stop $45. Pretty flat revenue quarterly going back to May 2022. A surprise revenue beat in February could provide a big liftoff and break the 2-year downward spell. There's a gap fill at $60 that will provide significant resistance. But if it can hold after that fill, it could have a 2021 kind of year where we saw low $60's turn to mid $80's by the end of the year. Analysts are most worried about declining profit margins. Well, with inflation, shipping costs, enery costs, and underlying commodity costs like cattle and pork being elevated, it's understandable how their margins have shrunk. As all of those continue to ease, epect the profit margin to start rising agian. Might test $50 again if you prefer a lower stop risk.

Running list

OXY - Energy - O&G
SMCI - Tech - Hardware
AMD - Tech - Semiconductor
CRM - Tech - Software
CXM - Tech - Software
TLT - 20+ Year Treasury ETF
NOV - Energy - Equipment and Technology
TSLA - Consumer Discretionary - EV
TSN - Consumer Staples - Food

I like WHD - Cactus, Inc with a target of $80-$105 and a stop at $39.50 (recent low). If it can't hold that low then it should be knocked off the list and ignored.

The risk here, fundamentally, is recent mergers and consolidations and threat of future ones that could limit rig count and lead to declining operations. But the company is virtually debt free - absolutely prime financial position - and could outperform even in a declining rig market.

Running list

OXY - Energy - O&G
SMCI - Tech - Hardware
AMD - Tech - Semiconductor
CRM - Tech - Software
CXM - Tech - Software
TLT - 20+ Year Treasury ETF
NOV - Energy - Equipment and Technology
TSLA - Consumer Discretionary - EV
TSN - Consumer Staples - Food
WHD - Energy - Equipment sales and rentals

Oh how I LOVE this setup. Wish I would have noticed it over the last 3 months. Let me preface by saying that a great setup doesn't always turn into a great play. But when you hear me talk about low risk / high reward and how I like 10% risk or less to make 30% gain or more, you can understand that when I'm pitching something with 20% risk, the reason is because the reward is 100% or more. In this case, it could be 350%. Granted, it might take longer than a year, but the potential is on the table.

UNFI - United Natural Foods - This one fell from $83 to $5 between 2015 and Covid low. From there it rose all the way back to $57 in 2021 before 2022 and most of 2023 beat it down to $12. Some very large swings. But that support it recently found was significant. It was a high level in 2002, a major bottom in 2009, and a chop zone on the way down in 2018/2019. That $12.75 low area is our stop. And yes, it would be a 21% loss from today's price. But the very minimum target is going to be a resistance level at $30, and my main target will be the previous high of $57.

There's also an indicator that I love seeing, a T junction. The time between the 2020 low and the 2021 high is very very close to the time between that same high and the most recent low. It's a great sign when something cycles in predictable time patterns. RSI bottomed on the recent bottom. That's why it's our stop. It matched a time and oversold target level. Below that and something else is happening and we don't want to be involved.

And if you like gaps. Boy does it have them.. $18, $26, and $40.

Running list

OXY - Energy - O&G
SMCI - Tech - Hardware
AMD - Tech - Semiconductor
CRM - Tech - Software
CXM - Tech - Software
TLT - 20+ Year Treasury ETF
NOV - Energy - Equipment and Technology
TSLA - Consumer Discretionary - EV
TSN - Consumer Staples - Food
WHD - Energy - Equipment sales and rentals
UNFI - Consumer Satples - Distributor

This is just funny

I love Michael Clemons pic.twitter.com/shpVcM7EsL

— Barstool Texas A&M (@BarstoolTexasAM) December 29, 2023

LUV broke down. I never entered. If it can close the $27 gap and find support above $25, it might make the list with a target of $40.

Adding one to the list. MLCO - a gaming and hospitality company focused on Macau

In the middle of a long downward channel on weekly candles. Recently started a bounce off oversold levels when it struck high $6's. 2024 target is $17+. I think it might give us a chance to buy around $8 - $8.50. Once I enter, my stop will be $7.40. You can set your stop at the recent low of $6.80 if you want to stomach more risk.

Why this one? Any time you have a major weekly low like this did in May of 2022 at the $4 mark, followed by a move up like it did into April 2023, and the next low is a higher low, you're just looking for a 100% move of the previous leg up. It did that very thing off its 2020 low and into its 2021 high, coming up just short of the 100% mark. This had huge volume inflows in 2022 at its bottom with no outflows to match as it's come back into support near oversold levels.

And our stop protects us should it fall lower than a common support finding level.

Running list

OXY - Energy - O&G
SMCI - Tech - Hardware
AMD - Tech - Semiconductor
CRM - Tech - Software
CXM - Tech - Software
TLT - 20+ Year Treasury ETF
NOV - Energy - Equipment and Technology
TSLA - Consumer Discretionary - EV
TSN - Consumer Staples - Food
WHD - Energy - Equipment sales and rentals
UNFI - Consumer Satples - Distributor
MLCO - Consumer Discretionary - Gaming & Hospitality

Reminder to the board. Don't just watch with eyes glossed over on red weeks. Like anything else, have goals in mind and know your plan. Ignore the noise. Stop watching every stock under the sun. Have a list of the ones you like and the general price range you like them at. Then when weeks like this hit, wait for your entry levels to print and execute your plan.

You don't go hunting hoping to just see something. You go with a specific purpose. And when you find what you were looking for, you are prepared and you pull the trigger. Don't worry about the rabbits, coyotes, and armadillos that are scurrying around aimlessly. Focus on your target.

Heineken-Ashi said:

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Reminder to the board. Don't just watch with eyes glossed over on red weeks. Like anything else, have goals in mind and know your plan. Ignore the noise. Stop watching every stock under the sun. Have a list of the ones you like and the general price range you like them at. Then when weeks like this hit, wait for your entry levels to print and execute your plan.

You don't go hunting hoping to just see something. You go with a specific purpose. And when you find what you were looking for, you are prepared and you pull the trigger. Don't worry about the rabbits, coyotes, and armadillos that are scurrying around aimlessly. Focus on your target.

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Good advice, and I agree.

Don't FOMO into a stock because "it's on sale", because it will probably go lower. Maintain discipline and wait until you can justify putting your money to work because it has met what you predicted it would do by looking at your favorite indicators.

If you don't, then you're not investing, you're gambling and you will more than likely be bag holding and locked up when stocks really do go on sale, and they will.

You and i apparently employ different hunting strategies. I shoot armadillos, squirrels, coons, the keystone light can i just finished. I have been known to shoot dragonflies on a slow duck or dove hunt. For some reason I don't see many deer though?

Charismatic Megafauna said:

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You and i apparently employ different hunting strategies. I shoot armadillos, squirrels, coons, the keystone light can i just finished. I have been known to shoot dragonflies on a slow duck or dove hunt. For some reason I don't see many deer though?

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Then you should be loving small caps right now. Just throw some Tannerite into the field and start spraying baby.