Trading XPEV Earnings | Best Stock Picks Today 3-8-21

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Trading Game Plan: 3-8-21

Xpeng Earnings Report Mixed; EV Stocks Keep Falling

Chinese electric-vehicle maker Xpeng (XPEV) reported mixed fourth-quarter estimates early Monday, a week after rival Nio (NIO) posted a mixed report and warned on the global chip shortage. Xpeng stock fell solidly early Monday, along with Nio, Li Auto (LI) and Tesla (TSLA).
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Not an easy day to game plan.

After the SPY rally above the 50sma on Friday (and wbD) price action looked good for follow through. But talk of inflation continues to hang over the markets like a black cloud.

Until we get confirmation, the markets are in short-term correction mode so I'm reducing my share size from 2% per trade to 1%.

Energy stocks continue to shine but many are too far from the optimal buying point so I'm looking for day trades: CPE, CLR.

Looking for day trades in ORCL as well after Friday's upgrade.

Industrial stocks such as SPR, IR and EMR setup new swing trades today after seeing higher volume on Friday. EXPE (167.50buy stop) and BWA (ORB entry here) offer solid breakout trades.

Pete