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Midweek Action for Wednesday, July 17, 2019

A classic ‘sell on the news’ for financials. $WFC, $JPM, $GSWells Fargo, JPmorgan, and Goldman did reward investors despite the strong quarter. Of course trading volumes are down with $ETFC. Algos and ETFs rule the volume. Daily trading is getting rarer.

$NIO – is in danger of falling below $3.00 and leaving bagholders at $4.00. $TSLA is the true EV play. $F, $GM, $FCAU are the value plays for gas-powered auto. Where does Nio fit? Nice EVs which depend on strong demand in China markets alone.

Chip stock performance? Meh. $MU next direction depends on $INTC Intel and $AMD earnings reports.

Roku. $ROKU is unstoppable. What a bull run!

Beer is a fad whose sales will worsen. Watch out for $BUD and $ABEV. Sell or avoid.

Nokia $NOK is on the verge of a break-out. 5G, baby.

Dead cat bounce on cannabis stocks? Watch and trade $CGC, $ACB. Avoid $TLRY.

 What are your trades for Wednesday?

Now read this:

This am's trading notes.

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