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Buy High, Sell Higher Continues to Be the Game

AMZN – Price targets keep climbing; Today’s other news and notes.

It’s another and another price target lift for Amazon (AMZN) shares. On quiet market days, analysts tend to dominate the headlines with market calls and as you’ve seen in recent years, the script has been a constant boost of price targets and ratings upgrades for the stocks investors love to trade the most. There isn’t much new news fundamentally for the stocks, but there is little resistance above as most big momentum stocks like Amazon continue to hit new highs. When does it change? Hard to say really since we have a Wall Street which doesn’t really adhere to historical valuations being the measuring stick. We’re hitting new uncharted waters each day. Look at the software group and the explosion in price-to-earnings of late. The group has completely gone into its own orbit at this point.

Notes From Monday’s Action

Financials – Goldman Sachs (GS), MarketAxess (MKTX), and LendingTree (TREE) were able to push higher on what was a sluggish day for some of the averages.

Ulta Beauty (ULTA) – shares pushed higher opposed to most retailers that closed lower on the session. Company is reporting earnings on Thursday.

Tesla (TSLA) came firing out of the gate this morning and we’ve seen this random early week pop from the stock before, on not much specific bullish news.

Dow 30 plays were the big laggards in today’s session, led to the downside by Home Depot (HD), Boeing (BA), United Technologies (UTX), and Caterpillar (CAT).

Esperion Therapeutics (ESPR) was able to reverse off of earlier lows to close 6% despite news several of its biggest competitors (Regeneron, Sanofi) received positive drug study results.

Stocks that noticeably lagged during today’s session – Hubspot (HUBS) – analyst downgrade, Weibo Corp (WB), Cimpress NV (CMPR), Global Blood Therapeutics (GBT), Cooper Companies (COO).

Solar stocks traded well – First Solar (FSLR) and Solaredge Technologies (SEDG).

Biotech did a good job staying consistently strong in a tough tape – winners included Illumina (ILMN), Alnylam Pharmaceuticals (ALNY), Ligand Pharmaceuticals (LGND), Sarepta Therapeutics (SRPT), and Madrigal Pharmaceuticals (MDGL).

Netflix (NFLX) shares dipped despite the Nasdaq closing higher. Noted short-seller out with comments the stock has run too far too fast put the brakes on the stock’s momentum.

Charter Communications (CHTR) and Madison Square Garden (MSG) both rallied on news of takeover possibilities.

Managed Care stocks traded poorly as worries over pricing power continue to circle – UnitedHealth Group (UNH), Cigna (CI), Aetna (AET), Humana (HUM), and Anthem (ANTM) all ended in negative territory.

Notable names that closed higher despite the markets volatility – Amazon (AMZN), GrubHub (GRUB), Zebra Technologies (ZBRA), Booking Holdings (BKNG), Nvidia (NVDA), Western Digital (WDC), Nutanix (NTNX), Lam Research (LRCX), Newell Brands (NWL) – activist headlines helping the stock, EPAM Systems (EPAM).

Micron Technology (MU) went bonkers, up nearly 9% following one analyst who decided to lift the price target on he company from $55 to $100!

M&A news in the fiber optics group helped lift stocks like Lumentum Holdings (LITE), IPG Photonics (IPGP), Coherent Inc. (COHR), and Applied Optoelectronics (AAOI).

Defense stocks are a worry in the short-term as further talks of North Korea peace may get some investors anxious to book major gains since the post-election run-up – Lockheed Martin (LMT), Raytheon (RTN), General Dynamics (GD), Northrop Grumman (NOC), and L-3 Communications (LLL) were all quite weak on the session.

Investing Success Means Professional Change Is Sometimes Necessary

Oftentimes, we get stuck in a rut and this translates to our finances and eventually our mental well-being. We may have hit a career impasse whereby the industry we’re in offers little in the way of advancement, but we decide to hang on and the days turn into months, which turn into years and our world becomes paralyzed with the inability to make the necessary changes. In order to stay on offense and be able to make the appropriate financial decisions, all things related to money flowing in from our day-to-day work endeavors must remain trending in a positive direction. You can’t prosper long-term if the current work situation is cutting you off from being able to consistently invest over time. Those blips that can occur in our professional career will last as long as you decide to take no action. If you recognize that the industry or job opportunity you have has peaked, it’s imperative to look for areas you can grow and a change in industry focus can sometimes be the answer. Industries change quickly and it is not evidenced any more than what we see translated in the financial markets. Great companies and industries rise and fall. Sometimes it happens quickly and sometimes it’s a slow but undoubtedly terminal situation. Controlling your expense picture will allow you to make the necessary changes and unshackle you from a career trap that will eventually prove detrimental to what the goal is for most folks – financial freedom.

“It is easier to convince yourself and others that you made the right decision than to admit a fault that requires repair”

This can apply to all of us as human nature tends to kick in when someone is asking us to discuss results, whether it’s in investing, work, or relationships, etc. Most folks don’t ever want to raise the truth curtain and state what isn’t working, but rather what is. In investing particularly, this will translate to holding on to losing stocks and trying to convince yourself the original story for which you based your buy decision on was still valid, but in many cases, that’s far from the original thesis. The greater long-term success comes when you realize “oops I screwed up, but I learned and will make the adjustments.” Too hard for people to embrace that. It’s human nature, but sometimes human nature doesn’t pay the bills too well!

Thanks for reading!

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AMZN at a Glance

AMZN Current POWR Rating™
Overall POWR Rating™
AMZN Current Price $1,495.56 3.19%
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AMZN Price Reaction

The day of this event (Mar. 13, 2018)
AMZN Closing Price$1,588.18 0.64%
AMZN Volume6,531,800
66.19% from avg
Leading up to this event
AMZN 1-mo return13.00%
After this event
AMZN 1-day return0.46%
AMZN 3-day return1.70%
AMZN 5-day return0.75%

AMZN Price Chart

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