Hot Stocks: SWBI BLNK WOOF CELH BBAI

In this article and video, Insider Financial recaps last week's stock market action and discusses our trading plan for this week.

This video covers SPY, QQQ, DIA, IWM, TLT, BTC, BBAI, CELH, ORCL, CASY, ASAN, KSS, IGT, DLTR, WOOF, META, SNAP, DKS, DG, ADBE, BLNK, ULTA, SWBI.

Video Summary

Wall Street finished lower after a choppy session on Friday, as investors reacted to a mixed jobs report by booking some profits in the technology space, which has been the engine of the market gains so far this year. The U.S. economy added 275K jobs in February, topping analyst estimates of 190K. At the same time, the unemployment rate moved up to 3.9% vs. the expected 3.7% figure. For the week, the Nasdaq slipped 1.2%, while the Dow Jones and S&P 500 fell 0.9% and 0.3%, respectively.

While the Fed's restrictive monetary policy is putting pressure on economic activity and inflation, cutting interest rates "too soon" could cause damage. That was according to testimony this week from Jay Powell, who reiterated before Congress that there was no evidence the economy was falling into a recession. It may also be appropriate to "begin dialing back policy restraint at some point this year," but the central bank needs "greater confidence that inflation is moving sustainably toward 2%."

For this week:

Monday

Options trading volume is elevated on BigBear.ai Holdings. The list of highly-shorted stocks heading into the new week includes Celsius Holdings Execs with Celsius will be presenting at the Bank of America Consumer & Retail Conference on March 12 and the UBS Global Consumer and Retail Conference on March 13. 

Notable companies due to report include Oracle, Casey's General Stores, and Asana. 

Tuesday

Notable companies due to report include Archer-Daniels, Kohl's, and International Game Technology.

8:30 am The consumer price index report for February will be released.

Wednesday

Notable companies due to report include Dollar Tree Petco Health & Wellness.

Full U.S. House expected to vote on a bill that would force ByteDance to divest TikTok, or the app will be banned. META, SNAP on watch.

Thursday

Notable companies due to report include Dick's Sporting Goods, Dollar General, Adobe, Blink Charging, and Ulta Beauty.

8:30 am The producer price index report and retail sales for February will be released.

Friday

The stock market could see extra volatility with triple witching day featuring the simultaneous expiration of stock options, stock index futures, and stock index options contracts.

10:00 am The University of Michigan's consumer sentiment report will be released.

In terms of charts:

SWBI Shares of Smith & Wesson Brands rose over 25% on Friday after Craig-Hallum upgraded the gun manufacturer from Hold to Buy and increased its price target from $14 to $18.

Election year - guns, gold and Bitcoin.

Bottom Line

As we keep saying, there are always opportunities in the markets, and it’s our job to find winning stocks to trade. Huge gains can be made in such a short amount of time.

It’s essential to look for stocks that have yet to run. There are plenty of opportunities, and we look at hundreds of stocks weekly for our subscribers.

Remember, all it takes is one or two to become a winner, and you’ve crushed the market indices (and Jim Cramer) for the year.

Good luck to all (except the shorts and Cramer)!

WHEN INSIDER FINANCIAL HAS A NEW COMPANY TO RESEARCH, IT IS IMPORTANT TO PAY ATTENTION. AFTER ALL, OUR FREE NEWSLETTER PROFILED MANY TRIPLE-DIGIT WINNERS FOR SUBSCRIBERS. WE ALWAYS ARE LOOKING FOR MOMENTUM BEFORE IT HAPPENS!

Disclosure: We have not been compensated for this article/video. Insider Financial is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.