Market update 2–16–22 — looks like today will be uneventful without a catalyst

Listen to the podcast today. I don’t expect much movement, but there’s one play ($FB) that I think is setting up for a phenomenal move back up over time. This level is value in a growth stock — unprecedented.

$DVN — Devon Energy

I bought the dip right before earnings at $50.50 because it seemed fitting. The algo still has me in this and I’m looking for a 5% gain and I’ll take it at $53. They warned about rising costs, but with a special dividend, share buyback and natural gas prices rising, I think this could get back to the highs of $55. If it doesn’t hit $53 today, I’m fine holding until it does or until the dividend payout on 3/11.

$NVDA — NVDIA

Just had another buy signal at $262 for this after yesterday’s 10% rise in this stock. I would be careful, but they do report today after the bell. I think like all the other chip manufacturers we will see good results, but the guidance will be key with the high PE

$FB — Facebook

This is a REALLY good setup. Facebook is now a value stock that’s really a growth stock. I think it’s looking to trend up to the 9 or the 21 day. The volume shelves just haven’t even formed at these levels. The MacD is crossing up, the RSI is at 28 so the stock is so oversold I’m just not sure how it hasn’t hit a bottom here.

$PLTR — Palentir

Palentir is reporting before the open tomorrow morning. The algo has a buy in at $13.46 and the street will be looking at how many new contracts they have signed. They are still not making money and this one is risky, but it might be worth a small risk on this one. There’s still a big belief their software is world class and something that businesses/governments need.