ARETE TRADING WEEKLY REPORT

Gambling Stocks Continue to Rise ! 🎰🏈

Gambling stocks continue to rise! Both DKNG and PENN are benefiting from positive analyst comments. This is based upon several states slated to adopt online gambling and coming into their busy season. Online betting biggest season by far starts when college football begins and ends at the Superbowl. We saw both stocks break out of bases and make solid runs the past couple days. This looks like the beginning or a longer run. The DKNG is more of a pure play on the online betting space. With no physical locations it is much cleaner way to play the space than PENN. With that said the FDA approval of PFE/BNTX has created a situation where places such as Macau are laxing restrictions. Stocks such as PENN, LVS, WYNN are benefiting from this. While this bounce in the space has been great for short term traders, we need confirmation that the move is here to stay. One start is to have the IWM close over the 50 day. We did get over the $223 level but we are unable to follow through. Let’s see if we can close over that level. Also getting above the high today of $224 could be used as confirmation. Based upon this I would feel more comfortable adding to smaller cap stock ideas. The QQQ and SPY both look great and key levels are on the charts.

Jobless claims tomorrow at 8:30 am

Let’s Look at the Indexes!

Let’s Look at the Stocks!

Subscribe to You Tube! 👈Subscribe and turn on notifications. I go over DKNG,UPST,NVDA as well 20 other names in this video. I also go over the SAVA day trades and how you can identify short term tops. Finally, Every evening after the market I do a recap and every morning before the market open we have a Live Q&A on the day ahead.

As always all investment decisions need to be made by the individual. We all have different risk profiles. No two people trade the same. Understand the buy points, stop losses, trims are suggestions. You need to develop your own process. I am willing to help. If you have questions message me. For example, to stop losses, I like to see them close. That does not mean that fits everyone’s risk profile.

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