Here’s your trade on $GOOGL…and $AMZN…and $META – February 1, 2023
GOOGL META AMZN
I want to do some trades here, we will start with Meta ( NASDAQ: META ). You see what happened with this thing. If you just look at the regular hours. There was a nice little poke above the 200-day moving average. And then the company reported earnings and this is what happens, a big massive move, 70 million shares traded today, that is a lot of shares, just wait until tomorrow.
The stock really kind of topped out for a while anyway, at $180.00, now it is up even a little bit more than that. There is really no way of telling how far this would go. I carried a little bit into earnings and I am comfortable holding what I have.
I did take some profits on it, how could you not? I do have stock as well so I am happy holding it. I would not be buying it tomorrow morning. I don’t know whether I will be selling it or not, it just kind of all depends. You can see by the way this stock is trading, it still has a lot of juice left in it.
Here’s what you want to be mindful of on this, upgrades, there are going to be a lot of upgrades tomorrow. Because this is what happens, when a stock bumps 22 percent in one day analysts are going to come and say, Oh crap, I had this rated as a buy with my price target at140.00, which was nonsensical, but I am an analyst and I am nonsensical.
So you are going to see a lot of folks bumping up their price targets to 200.00, stuff like that. That is going to cause retail traders to come in and push this even more. I just don’t think it is beyond the realm of reason to expect this to print 200.00 pretty soon. that is just the way these stocks trade
For me, this kind of sets up other trades. Google ( NASDAQ: GOOGL ) reports tomorrow after the bell. I would look for similar price action, not 20 percent; I’m talking about tomorrow during the day. If Meta ( NASDAQ: META ) remains strong I would look for Google ( NASDAQ: GOOGL ) to be strong during the day. I am talking about trading tomorrow, trading this stock through the 200-day moving average.
I am talking about the same thing with respect to Amazon ( NASDAQ: AMZN ), whether it does this, we don’t know, but it is right there knocking at the door, and they report tomorrow as well. So if we get a strong market tomorrow I think you can look to Google ( NASDAQ: GOOGL ) and Amazon ( NASDAQ: AMZN ) to be really, really good day trades. I am literally just talking about trading during the day tomorrow.
I cannot and would not coach you and advise you whether to hold or not hold over earnings. Whether to buy before earnings or any of that. Because, first of all, I don’t know you and so it is totally irresponsible for me to just be spitting this out in the cyber airwaves and tell people to buy this before earnings. And then if they implode you are screwed and I don’t know you.
That’s the way I work, I am trying to help people, as I can, to make money in a way that is responsible for me to talk about. And so that is why I am talking about this tomorrow. Amazon ( NASDAQ: AMZN ) and Google ( NASDAQ: GOOGL ), I’m looking at the 200-day moving average. And if these start to trade above those then these would be nice intraday trades for you.
And again, I am looking for Meta ( NASDAQ: META ) to go to 200.00 pretty easily. And from 150.00, which was where it was today, guess what? That’s a third jump in market cap, I’ll take it.
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