EarningsBeats.com Digest for October 7, 2019
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Dear EarningsBeats Digest Members.
Trading Places LIVE!
First, make sure to tune in to Tom Bowley's "Trading Places LIVE"! this morning from 9-9:30 am eastern before the opening bell. Discussions will include various topics such as earnings reports, industry group charts, sectors, big picture considerations, etc. To join Tom, click here: https://zoom.us/j/248920901
Q4 Market Outlook Webinar later Today
It's Webinar Day! Join Tom Bowley later today as he shares his insights on where the market could be headed in the fourth quarter. The discussion will include an in-depth look at market and industry charts with the goal of putting EarningsBeats members in a good position to profit as we head into year-end. If you are already a subscribing member there is no need to register and you will be sent room instructions prior to the event that will begin at 4:30 pm eastern. For those of
you who are not currently EarningsBeats.com members and would like to join us we have our Webinar "Two Pack!" that will get you a seat to tonight's event as well as our Q2 Earnings Webinar coming up on October 21. Just click on the following link to learn more and sign up!
https://www.earningsbeats.com/public/Webinar-Two-Pack.cfm
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A Bad Stock In A Good Industry Group
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I'll occasionally be interested in a really good stock in a bad industry group, but I won't ever be interested in a bad stock in a good industry. The reason should be rather simple. Why not find a good stock in a good industry? United Natural Foods (UNFI) reported disappointing quarterly results last week and it's reacted about the way you might expect - with a big gap down followed by more selling since:
From the early part of Q4 2018 to the low reached in August, UNFI fell more than 75%. So while there was a bit of a run higher in UNFI heading into its earnings report, it now appears to have been nothing more than an opportunity to get retail investors excited so more folks could dump their shares. Now just a few days after reporting more disappointing results, UNFI is right back down near that August low. This is partly why we only trade off
of our Strong Earnings ChartList. It's difficult to trust companies in downtrends that have frequently disappointed Wall Street in the past.
Happy trading!
Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
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