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HT Weekend Watchlist - Register for A Live Webinar!

Humbled Trader's Weekly Stock Picks & Market Update

Author

Humbled Trader
September 29, 2024

Hi !

I’m pleased to share with you that I’ve partnered up with TD Direct Investing for an live webinar. Join me this coming Wednsday, Oct 2 @6:00PM ET

Make sure to register for the live webinar below. Hope to see you there this coming Wednesday!

  • This TD Webinar is LIVE on Wednesday, October 2, 2024, at 6:00 PM ET

  • Two other social media influencers and I will share some of the biggest investing and trading lessons we wish we knew as beginners.

  • Register to ask me your questions during the Q&A!

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Data points provided by Stox scanner

NIO $6.56

  • Very bullish multi-month breakout and reclaim over daily EMA’s. The recent China stimulus also boosted this stock.

  • Looking for more trend join opportunities as long as stock can hold the $6 KL.

  • If this level consolidates and holds up next week, we could see a potential continuation to the upside toward the daily gap-fill area around $7-$7.5.

  • Position Disclosure: Swing position opened with HT Community @5.8s.

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Data points provided by Stox scanner

BIDU $105.17

  • Similar technical setup and catalyst as $NIO above. Chinese stimulus package fueled the break of long-term downtrend on this name.

  • The KL to watch for this stock is $99.5 area around the 200SMA. If the stock can consolidate and hold the downtrend break, we could see it test upside $110-$113s area.

  • This is on watch for potential day trade and swing trade setups.

  • Position Disclosure: No position

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Notable: High short interest %

CAPR $9.95

  • Small cap name that gapped up recently after an “intent” to file a license application and plans to seek FDA approval.

  • The catalyst isn’t overwhelmingly bullish, however it has been able to hold the gap up. Some weakness around $9 has been bought back up, so far.

  • Staying neutral on this name. If the stock can keep consolidating around the $9 KL and hold the uptrend, we may be able to see a retest of recent highs.

  • However, if stock breaks down KL and sells off, it is no longer in play on the long side. It could be a better short for $8 downside and potentially lower.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Alibaba Group Holding Ltd - ADR ($BABA) Chinese stocks rallied following China’s multi-point stimulus package.
- How we traded: Backside Long

- Banzai International Inc. ($BNZI) Banzai announces $24.8M debt payoff, restructuring agreements
- How we traded: Former High-of-Day Long

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Our coach, Adam, shared some great trades in the community on Friday!

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📣 S&P 500 New All-Time High: Stronger Labor Market & China Stimulus

The S&P 500 is hitting new highs, though the rally appears weak with daily reversals. A recession has been delayed due to the Fed's aggressive rate cuts to support employment, though it may be triggered by external factors like rising oil prices.

Meanwhile, China’s potential fiscal and monetary stimulus could boost global growth and further delay a recession.

However, rising commodity prices, especially copper, pose an inflation risk, which may limit the Fed’s ability to cut rates further. Although a dip in the market is possible, a bear market is unlikely in the near term.

💡 Market Sentiment:

While short-term sentiment remains positive, long-term outlook for the S&P 500 remains bearish due to high valuations and macroeconomic volatility.

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I made over $308K day trading, but I'm currently on a losing streak...

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