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I think we learned a few things this week:
1. Don’t doubt the strength of tech. Despite the fall during the first half of the week, everything bounced back strong. Specifically, earnings for $VEEV $OKTA $ZS prove that the SAAS model will be strong rn.
1. Don’t doubt the strength of tech. Despite the fall during the first half of the week, everything bounced back strong. Specifically, earnings for $VEEV $OKTA $ZS prove that the SAAS model will be strong rn.
2. At the same time, don’t buy into the highs. We saw $AMZN $FB $TWLO $SHOP all hit new ATHs last week and then drop like a rock — they’ve bounced back, but still haven’t recovered at week end. Buy the dips and expect steady growth, don’t FOMO at the peak.
3. The rotation into “recovery” stocks will be a slow grind. $NCLH, the highest volume traded recovery stock, keeps hitting the wick resistance at $17.50 and keeps bouncing back. Been happening for 2 months now. Airlines and hotels the same. Play long dated calls.
4. $ULTA earnings were reflective of the environment. EPS was horrible — but the stock still stabilized. $OKTA beat expectations — and price blew past ATH. With the market steadily rising, don’t buy puts. Choose strong companies to buy calls.
5. For next week, I’m playing the run up to earnings for $CRWD, $ESTC, $CLDR, $DOCU. Buying calls Monday at open, selling right before close the day of earnings. Because of bias upwards, will buy a long dated call as well to capture gains in case any blast off.
