STOCK MARKET WATCH: Tuesday, 27 February 2024

[bucolic_frolic]

1. I'm not seeing earnings momentum right now

Every time I read a recommendation for a stock, there's bad news or mediocre earnings straight ahead. THis has happened to me 3 or 4 times over the last month or so. Not that I made these plays, but I did read the news and check back a few days later. GOOGL, TDOC two prime examples. And after the first of the year it was written XOM had stellar earnings as far as the eye could see. It jump to 106 and is still in the 100-104 range.

The market pauses 2 days, then Tech rally 300+ per day. This is topping action in my view. The earnings are in Tech and AI, the rest are flagging or slowing down. Defensive stocks are idling. KHC, CAG. But WMT and MCD are recovering nicely. I did buy PFE to trade options against. It is way way down from highs last year. Never thought to see it at 27 again. Not much risk to me when selling calls twice a month.