EarningsBeats.com Digest for November 9, 2020
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"Sneak Preview: Top 10 Stock Picks" Webinar
Today- Monday, November 9th at 4:30 pm EST
Join EarningsBeats.com Chief Market Strategist Tom Bowley today where he will be discussing what will be covered during the Top 10 Stock Picks webinar on November 19. This will include the methodology he uses when selecting the stocks for each of our 4 portfolios, 40 stocks in all. In addition, Tom will be discussing performance of each of the portfolios to date. As a member of the EarningsBeats.com you are invited to attend this event and will receive room
instructions prior to the start of the webinar. Hope to see you there!
For more information concerning this event, please click HERE.
Will We See Follow-Through On This Industrial Breakout?
As we wake up to positive news on a COVID-19 vaccine, it's probably a very good time to be looking at industrials (XLI). They underperformed as COVID-related restrictions globally held back economies and clearly impacted industrial companies. The XLI underperformed the S&P 500 badly from late-February through mid-May, but we've been seeing relative strength off of that low. I've been discussing the improving areas within industrials and
one of those groups is the industrial suppliers ($DJUSDS), which brings me to one of its component stocks, HD Supply (HDS):
It broke out on Friday, but just barely and with average volume at best. The DJUSDS closed at 413.69, finally eclipsing the 413.25 record high close set in early-September. It tried to clear it on October 12th, reaching an intraday high of 417.72, but failing to close in breakout territory. The vaccine news is likely to see money POURING into devastated areas from March and April and out of many of the NASDAQ names that have been big-time
outperformers. Because of this, HDS looks like the type of industrial stock that could benefit.
Happy trading!
Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
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