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Monday, June 17, 2024

Tuesday Musings

I regret selling my OLED last week but up 100% is my limit once it pulls back. That being said I now feel like I chickened out way too early.

BUD looks very good here, still well below the 200 dma of $45. If it breaks that, it could hit $47 again.

INTC is another stock I should still own. It might go for a 52 week high of $29 before a real pullback.

SHLD is settling with 150,000 Kmart employees who lost $300M in retirement benefits for $12M, less than nothing ($100 each), and that’s coming out of insurance. Gotta love Eddie Lampbert! Stock is near low end of $110-$125 channel that has been safe to trade in for 3 months. No one is expecting much of them so upside surprise is very possible. (I own Jan ’07 $100 calls).

I am still hoping for more pullback on WMT but $50 may be a solid floor for them.

A sale is on on UPS, FDX and YELL but last December-Jan was a disaster for them so I’m staying away for now.

SNDK will test its 50 dma of $53.50 today, a failure could send it flying down again.

PLAY is doing the opposite going up past $25.

Even a dead cat bounce can bring MRK up .75 and give a nice return on the Dec. $30 calls @ .35 – the stock is still short-term poison though but I do like it for the very long term.

GME will be a screaming buy after it settles down. I got my wish, they lost money due to their merger with ELBO. The short story is this is better than expected but looks bad so sheep will sell making a fantastic buying opportunity.

This will the trade of the day as soon as it turns (that might be at the 11am conference call!). Q3 sales are up 30% but cost of sales are already down 5%. The game cycle really kicks off next quarter and anyone who doesn’t buy an xbox will buy a Playstation in the Summer, they have never had a summer blockbuster so this year may be incredible for GME.

SIRI may move up but I’m still waiting until the MP3 royalty issue is settled. Sirius just lost the “Radio Chick” show to Infinity, which may be a sign of talent wars to come.

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