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HT Weekend Watchlist- FOMC Hints No Rate Cuts, Meta Surprise Earnings Beat

Humbled Trader's Weekly Stock Picks & Market Update

Author

Humbled Trader
February 04, 2024

Hi Humbled Traders,

Earlier last week, the Fed announced that it’s keeping interest rates unchanged at 5.25%-5.50%. However, what investors looked forward to most were hints that the rates will potentially be cut lower anytime soon. The overall message coming out of the FOMC meeting was that it expects to keep rates on hold and expects no rate cuts in March.

Market pulled back sharply lower the next day but losses were recouped quickly after a few notable earnings. Some of the most surprising earnings calls were Meta and Amazon Q4 results. Both of which smashed expectations out of the park.

We’ll discuss plans for potential secondary moves for these stocks later in the email below.

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INBS $5.95

  • New low float stock that ran up on Friday after its earnings release.

  • Remaining neutral biased on this name. A lot of recent runners can breakout for 2-3 days even without catalyst.

  • Observe how stock reacts to KL around 5.5s next week. If weakness gets bought up with volume we could see a retest of highs.

  • However, if we gap down and stay below KL, the play might be more suited for the short side.

  • Position Disclosure: No Position

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MINM $6.71

  • Stock has been gapping up on no substantial news

  • The move is largely due to extremely low float. Very strict risk management is needed to trade this name.

  • Leaning cautiously bearish on this name against the 8s daily level.

  • If stock breaks through 8 daily highs the short is no longer valid.

  • Position Disclosure: No Position

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META $475

  • Stock trading at new ATH’s after earnings and guidance report.

  • Bullish daily chart. Looking for continuation to join the trend for more upside if we can hold above 476 intraday KL.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Starbucks Corp. ($SBUX) Starbucks’ Q4 earnings missed forecasts across the board as its domestic and international sales declined.
- How we traded: Extended Daily Short.

- Rail Vision Ltd. ($RVSN) Rail Vision’s stock went through multi-day rally after the company announced a $5 million A.I. and technology improvement deal.
- How we traded: Former High of Day Long.

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📣 META’s Strong Q4 Performance and First-Ever Dividend

META reported impressive Q4 results, beating expectations with earnings of $5.33 per share, and a 77% rise from the prior-year quarter. Quarterly sales reached $40.11 billion, surpassing expectations by 3%. The company declared its first-ever dividend of $0.50 per share.

🔍 FOMC Summary (January 31, 2024):

- Federal funds rate remained unchanged at 5.25% – 5.50%.

- No rate reduction until inflation sustains toward 2%.

- Job gains strong, unemployment low.

- Elevated inflation but easing over the past year.

Forward Guidance:

- Committee to assess data and risks for any rate adjustments.

- No reduction until confidence in sustainable inflation.

- Expecting three rate cuts in 2024, ending at 4.6%.

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Email Disclaimer:
The Watchlist Emails are NOT trade alerts to buy or sell. We are not financial advisers. The above information is for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. We are merely sharing our opinion with no guarantee of gains or losses on investments. You accept our Terms and Conditions.