Before we get to today’s trading ideas in Target and oil, a quick housekeeping note…
Lance and I aren’t hosting Crush the Open this Monday since it’s a holiday week. Many of you know that I’m a big family man, and nothing is more important than spending this time with my loved ones.
The trading volume will also be super light since the big-money players will all be on the sidelines…
So I’ll be watching our member positions and for any new opportunities, but I will be scarce next week. I hope you all enjoy your holiday with friends and family! Crush the Open will return on Monday, Nov. 28, in what will be an exciting show — I’ll also be hosting a live trade room that day after the Black Friday data starts, so keep your eyes peeled for more details!
Now…
If you follow Wall Street regularly, then you know the market has gotten a bit dicey this week after a big, rip-roaring rally on the back of weaker inflation numbers…
We’ve also had… we’ll say less crappy earnings reports than were expected. But that’s because CEOs are playing the game of lowering expectations as much as possible ahead of time, only to eke out small victories when they report numbers that aren’t quite as bad as many feared.
The numbers are still bad, just not that bad. Which just goes to show that life is often all about expectations!
Here are a few key drivers of recent market action…
- Lower-than-expected Consumer Price Index inflation data.
- Lower-than-expected Producer Price Index inflation data.
- Higher-than-expected retail sales data.
Coming into Friday morning, the S&P 500 was at a major area of major resistance around the 4,000 level — where I see heavy sellers just waiting, so buyer beware…
We’re also looking ahead to one of the most crucial times of the year for the economy… Black Friday and the holiday shopping season.
And I see a big trading opportunity in Target Corp. (NYSE: TGT), which I believe could drop — and it could drop a lot as people look for cheaper alternatives. That makes it a prime candidate for shorting.*
I also think oil is underpriced and at the bottom of a buyable* range…
Check out my video up top and I’ll explain how I see everything playing out heading into Black Friday — I see a pop coming, followed by terrible data emerging from the tea leaves.
Are there any topics you’d like to see me cover or questions you’d like answered? Send me an email at jeff@joyofthetrade.com. And be sure to stay ahead of the markets by subscribing to our YouTube channel and our Instagram page for all of the latest! Don’t forget to like, subscribe and leave us a comment!
You can also join my free Telegram channel, where I share market insights real time throughout the week, articles, videos and more!
P.S. Target Tanking 50% Is Just the Start
This is FAR from over…
I spent two decades on Wall Street as a hedge fund manager, growing $5.1 million into $700 million.
This chart is scary, but it’s only the beginning… And it may lead to the “Death of Black Friday.”
I believe we’re nowhere near the bottom… And things are about to get far worse!
If you thought 2022 has been rough so far… You need to hear my dire warning BEFORE Black Friday.
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
