Market review from UTEX – week 10

Last week the major US indices closed in the negative: SPY -1%, Nasdaq -3%, despite the fact that the market was well bought back on Friday.

NVIDIA reported better-than-expected earnings, but did not show any super numbers in the report – the tech sector sold off more than the others. Tesla -13%, Taiwan Semiconductor -9%, NVIDIA -7%, Google -5%. Against this background, let us highlight Warren Buffett's company Berkshire Hathaway, which grew by almost 8% during the week.

Bitcoin fell almost to $78,000, there it found support and turned around. Yesterday, Trump announced the creation of a US multi-cryptocurrency reserve: in addition to BTC and ETH, it will include XRP, ADA and SOL. All these 5 cryptocurrencies reacted with explosive growth. BTC is now trading at $92,000.

On Tuesday, the 25% tariffs for Canada and Mexico, which Trump has delayed for a month, will take effect. On Friday, important labor market data will be released and Trump will hold the first cryptocurrency summit at the White House.

The earnings season is entering its final phase, but volatility is consistently high and it's too early to relax. Ahead are interesting reports from Okta, Target, CrowdStrike, Broadcom, Costco and JD.com.

Top 5 ideas for trading this week

🟡 Rigetti Computing (RGTI). Report on March 5 after the close. One of the “quant exciters”. By themselves, these stocks don't react much to reports and move in their own logic, herd-ish way. But given the force with which they can move, it makes sense to add to favorites.

🟡 Macy's (M). Report on March 6 before the opening. A supermarket chain that was particularly hurt in COVID-19. Costs are at the $14 level. On one hand, prices are reasonable, on the other hand, the next support is far away, around $10. Might give it a shot at the mid-term if it holds the $13.50–$14 level with a few months to aim for.

🟡 Target (TGT). Report on March 4 before the open. Same situation as Macy's. $120 is the level from which to take a mid-term with little risk (if it holds). Below that, it's only $100. But Target also usually moves well intraday after reports.

🔴 CrowdStrike Holdings (CRWD). Report on March 4 after the close. No mid-term, but intraday can be hot. For fans of expensive reporting stocks.

🟡 Gitlab (GTLB). Report on March 3 after the close. A service for code storage, version control, and collaborative software development. Like most 2020-2021 IPOs, has been sagging hard, but has been trending positive recently. Support $55. If it doesn't go lower, you could try the mid-term.

⭐ Bonus – AutoZone (AZO). Report on March 4 before the open. A chain of auto parts and accessories stores. The stock that never goes down: 20 years ago was around $80, now it's almost $3500. Just to see if we witness a miracle. It's too dangerous to trade.

Trade what suits you best:

🔴 high risk, for the pros;

🟡 medium risk, for traders with little experience.

Profitable trades!

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