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HT Weekend Watchlist - Trade Ideas for September Market Mayhem 📉

Humbled Trader's Weekly Stock Picks & Market Update

Author

Humbled Trader
September 08, 2024

This weekend watchlist is powered by Stox scanner, a powerful tool that enables traders to easily find the best stocks to trade!

Major UPDATES: Charting & News are live!

This week, Stox.io released a rebranded user interface along with a live newsfeed and charting tool!

This upgrade also comes with more flexible scanner templates and customizable data columns. Read these Tweets for details of these major updates.

Looking for the best stocks to trade? Stox.io is the web-based scanner you need. Access it from any device—whether it’s your PC, MacBook, or even your grandma’s iPad!

With Stox.io, you can:

  • Scan for stocks with built-in templates

  • Access live newsfeed & charting

  • Build custom scanner templates

  • Analyze stocks’ key metrics like relative volume, gap percentage, float, insider ownership, sector, and more!

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AVGO $137

  • Bearish gap down and fade on this name due to disappointing earnings outlook.

  • The KL to hold for the stock is $136 area (also the after-hours lows).

  • If stock breaks down this KL, we could see more potential downside for another day of fade to retest the daily 200SMA area.

  • Position Disclosure: No Position

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LASE $5.99

  • Stock rallied after regaining compliance with the Nasdaq stock exchange.

  • The multi-day breakout is getting extended.

  • Key level for the stock to test is $6.4s breakout level from Friday.

  • If the stock rejects said KL, we could see a potential unwind back to $5s and below.

  • However, if KL is broken out and reclaimed, we could see the stock rally another leg up higher.

  • Position Disclosure: No position

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WHLR $10.25

  • This low float stock more than doubled after the court dismissed a class-action suit.

  • Staying neutral on this name. Even though the stock seems extended, it could still have another day of rally due the the low float, low priced HTB locates and ability to trap shorts.

  • IF $8.2s area holds up, we could see another consolidation day to test the $12 highs.

  • IF the stock breaks down the $8.2 KL from Friday, we could see it go red and test the lows of $7.1 for a short. Below $7s the stock has huge downside back to $4s.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- JetBlue Airways Corporation ($JBLU) JetBlue Airways lifted its Q3 revenue guidance due to strong summer demand.
- How we traded: Gap Up Reversal Long

- Wheeler Real Estate Investment Trust Inc. ($WHLR) REIT Wheeler’s stock more than doubles after appellate court dismisses class-action suit
- How we traded: Former High-of-Day Long

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📣 September Mayhem Begins: Tech Stocks Tumbled Following Jobs Report🥶

On Friday, major stock indexes fell sharply following a disappointing August jobs report that highlighted weaknesses in the labor market and fueled uncertainty over the Federal Reserve's future interest rate cuts. The S&P 500 and Dow posted their largest weekly losses since March 2023, and the Nasdaq experienced its worst week since January 2022.

The August jobs report revealed a slower-than-expected addition of 142,000 jobs and a decrease in the unemployment rate to 4.2%. This led to a shift in market expectations for a Fed rate cut, with the likelihood of a half-percentage-point reduction falling from over 50% to around 30% by late Friday.

Tech stocks, including Nvidia, Alphabet, Meta Platforms, Amazon, Apple, and Microsoft, suffered significant losses. Nvidia led the decline with a 4.1% drop. Broadcom's shares plummeted over 10% after reporting strong results but providing a disappointing revenue outlook. Additionally, gold futures edged down to about $2,530, and bitcoin dropped to near $53,000, its lowest in a month.

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Scalping worked, but I Held The Trade until $25000 Profit

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.