EarningsBeats.com Digest for May 10, 2021
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Trading Places Live!
Join Tom Bowley for a briefing on market activity on Mondays and Wednesdays from 9-9:30 am EST before the opening bell. Click here to listen live or visit our YouTube page later today to view the recorded session.
Upcoming Earnings ChartLists
Our ChartLists for this week's upcoming earnings are now available. You can access them by clicking HERE.
It's Webinar Day!
"Sneak Preview: Top 10 Stock Picks"
Today, 4:30 pm EST
Every 90 days, Chief Market Strategist Tom Bowley unveils his "Top 10 Stock Picks" for each of our portfolios - Model, Aggressive, Income, and Strong Accumulation/Distribution - that's 40 stocks in all! The unveiling of the 40 stocks will be next Wednesday, May 19th and is a members-only event. Today's event is open to all subscribers in the EarningsBeats community and is a sneak preview of what to expect on May 19th, including results to date and the methodology
that Tom uses to make his selections.
You will be sent Zoom instructions prior to the start of today's event. We hope to see you there!
Here's A Heavily-Accumulated Energy Stock
I wrote a Trading Places blog article over the weekend ("And The Most Accumulated Industry During Earnings Season Is.....") and discussed some of our earnings season findings. We've updated our Earnings Reactions spreadsheet for EarningsBeats.com
members so that they can see every company's market reaction after they reported their quarterly results. If you'd like a copy, simply take out a no-cost 30-day trial and download your copy from our website. This spreadsheet now contains the Wall Street reaction to 1600 company reports, broken down and sorted by sector and industry group, so that you can quickly see how Wall Street is reacting to various areas of our economy as earnings are released. One obvious finding was
that oil equipment and services ($DJUSOI) stocks are being accumulated, whether the news is good or not. The industry stock that showed the most positive reaction was Liberty Oilfield Services (LBRT), which gained more than 13% after earnings were released, despite gapping mildly lower. It was heavily bought throughout the day:
I would watch the LBRT:$DJUSOI relative downtrend that's currently in play. If LBRT can break that to the upside, it could become one of the best stocks in this industry group in the quarter ahead. It's definitely off to a great post-earnings start. Knowing this industry information is powerful, however, as we also provide our Upcoming Earnings ChartLists for our entire EB.com community. We can look ahead to these ChartLists and sort them
by industry group to identify oil equipment & services stocks that will be reporting over the next week. Further research of SCTR Reports on StockCharts.com can yield ALL of the oil equipment & services stocks by market cap (large, mid, and small) if you're interesting in potentially finding other stocks in the industry that could benefit from the renewed interest by Wall Street.
Happy trading!
Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
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