Costco COST Earnings Report-Home Depot Position Trade

Costco Wholesale Corp COST Stock Chart Before Earnings 10.3.19

Costco Wholesale Corp COST Stock Chart Before Earnings 10.3.19

Costco Earnings: 3 Numbers to Watch

Thanks to Costco's (NASDAQ:COST) practice of reporting monthly sales results, investors already know the retailer will likely announce robust revenue growth when it reports earnings on Thursday, Oct. 3.

The warehouse giant revealed back in early September that comparable-store sales were up 5% through most of the fiscal fourth quarter, which puts it comfortably ahead of rival Walmart (NYSE:WMT) in the market share race.

The Dow dropped more than 800 points in two days — here’s what’s going on

Stock indexes were nearing record high levels, until October and the fourth quarter began. In the last two days the U.S. markets have fallen broadly, as investors began showing concern about fresh signs of an economic slowdown.

Tesla stock falls after company misses third-quarter delivery expectations

Tesla Inc. said late Wednesday it had delivered about 97,000 vehicles in the third quarter, including 79,600 Model 3 sedans.

Analysts polled by FactSet had expected the Silicon Valley car maker to sell about 99,000 vehicles, including 80,200 Model 3s, Tesla’s TSLA, -4.36% mass-market vehicle. Tesla delivered 84,000 vehicles in the third quarter of 2018, including about 56,000 Model 3s.

A key number on Thursday will reveal whether the economic slowdown is spreading
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Home Depot Chart HD 10.3.19

Home Depot Chart HD 10.3.19

Game Plan: 10-3-19

Stock market futures point higher this morning after two days of relentless selling. I like the long but not on the open.

First let me quantify what I like. I'm looking to initiate a new long, in the SPY ETF, but only with a portion of my intended position. I'm not looking to buy higher open, I'm game planning to buy on the first push lower.

That level of specificity is very important. The order flow is neutral from a 2019 perspective, so we are in pure tape reading mode.

Two stocks on the radar today are Home Depot and Dicks Sporting Goods.

HD (image) is showing a failed test, the same as it did this time last year. This is more of a position trade where the stock fails to make a new 52 week high and starts a reversal that can last for months.

I don't know if it's a seasonal thing but the chart is pretty clear.

DKS traded into a bearish U-turn two days ago and then became well-offered yesterday. All while showing solid order flow. I call this a "strong stock, weak close" when I run my scans.

For this swing trade I'm looking for a LOWER open to initiate a new long.

If you have any questions, shoot me an email.

Have a great day.


Pete Renzulli

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