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These 3 Auto Stocks Are Turning Bearish

by | May 12, 2023

Before we get to today’s stock market outlook video, I wanted to let you know that I’m going live at 11 a.m. ET today, May 12, in my VIP Champion Trade Room! I’ll talk about market action, scan for opportunities and answer your questions, so I hope to see you there!

Join us at 11 a.m. ET here: https://us02web.zoom.us/j/81470521405

The major indexes rose Friday morning as traders looked to end the week on a high note.

It was another volatile week for regional bank stocks. After dropping on Thursday following an announcement by PacWest Bancorp (Nasdaq: PACW) that its deposits fell the previous week, regional banks tried to recover Friday morning.

The SPDR S&P Regional Banking ETF (NYSE: KRE) rose 1%, Western Alliance Bancorporation (NYSE: WAL) gained 2.4% and PacWest advanced 3.4%.

Investors also have their attention on the debt ceiling situation, with the next meeting between President Joe Biden and congressional leaders set for next week.

In this morning’s stock market recap video, I’ll discuss why I’m concerned with unemployment data… if there’s a major disconnect between the Federal Reserve and the market… which stocks are surprising Wall Street right now… one sector we have to be super careful with… and the top 3 auto stocks I’m shorting!

Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!

P.S. Exposing 1 of Wall Street’s Best-Kept Secrets

Billions of dollars flood in and out of stocks every day…

And when just a fraction of that money hits a single stock, that injection of capital has the potential to send it exploding higher over the next 24 hours.

It’s one of Wall Street’s best-kept secrets…

That’s why my good friend Chuck Hughes just held a special presentation to reveal how the rest of us can target these stocks!

Watch the Session Here

P.P.S. When it comes to trading, every second counts. And in choppy markets like these, often driven by headlines, stocks can make big moves in a flash.

That’s why I want you to get my latest trading ideas and market updates as fast as possible. So I’m rolling out an all-new option for my students to receive trade alerts with Telegram!

Telegram allows me to get trade ideas, videos and watchlists to you in a matter of seconds.

Check out this short article we put together with instructions on how to download telegram and access my private channel. Go here to get the details. 

On Fridays, we’ll review the week that was… We’ll discuss how our trades did, what we learned and how to apply it to next week’s trading plan, and any developing trade setups. This video will put a bow on the week. We’ll also go over winners from my different member strategies.

Need help understanding some basics that we discuss frequently? Check out some of our educational pieces to help get yourself up to speed! Have a question or a topic you’d like us to explain in a future article? Send your thoughts to support@marketgeeks.com!

Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

Roger Scott

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