Happy hump day Coachmen, so far this week has followed the 2022’s “new normal” of high volatility, but with Citibank announcing that we’re at “peak bearishness” will the remainder of this week buck the trend? Probably not, but no matter what happens in the markets the Coachman’s team is here to guide you towards profitability. So far this week we’ve had all winners, with the VIX, OppFi, and Suncor all in the green during the after-hours session Tuesday. Stay tuned as we have more actionable ideas for your portfolio.
"Government does not solve problems; it subsidizes them."
- Ronald Reagan
Market Talk
Major indices remained relatively unchanged, but still slightly negative with the Dow Jones falling .67%, the NASDAQ dropping .41% and the S&P lowering .63%. One major announcement that could negatively impact all investors, the FED is set to begin QT starting today, as such, markets could react violently as they did during the “taper tantrum” of 2013.
Long: PetroTal ($PTAL.F-OTC) | Timeline: 3-5 days
PetroTal is an oil production company headquartered in Calgary, Alberta. This former powerhouse suffered immensely during the oil crash post-2015 but has seen a resurgence in the past twelve months. Compared to Q1 production has jumped 60%, and sales have jumped 80%. A note of warning, this company rallied 11.99% during Tuesday’s trading session, as such, we would recommend exercising caution during the first few hours of trading in the event of a retracement. Even when taking into account their recent successes, every technical indicator is flashing a bright green buy signal, as the company is trading above moving averages while having strong momentum on its side.
Chart of the Day
A question as old as time itself. Stay with the herd or take a contrarian stance?
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