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Posted November 18, 2020

Scott Stewart

By Scott Stewart

Boeing Ready To Fly Again

Welcome to the Rude Awakening for Wednesday, November 18th.

Looks like the markets are trying to open to the upside today

Housing Starts Are UP

The market is reacting very favorably to housing starts!

And thats interesting because they are one of the main drivers of the economy.

When you think about it, its very difficult to get a house built these days, yet housing starts continue to perform above expectations.

Even with the bad news on the economic front, there are still certain sectors like housing that are absolutely killing it out there.

What to Keep Your Eye On Today

A couple of things to keep your eye on today in the marketplace

One is the electric car manufacturers sector

As I mentioned yesterday, the granddaddy of them all is Tesla.

TSLA has just been introduced into the S&P500 index.

It had a little bit of a pop yesterday and looking to maintain that growth today.

And also, we are keeping an eye on Teslas Chinese competitor, NIO.

NIO reported earnings after market close yesterday, narrowing their losses.

It opened with a pop today but its starting to give some of that back.

But this is the stock to watch in the EV market right now

Its run from $3.00 per share up to $50.00 per share in a very short period of time.

So, weve got our eye on NIO for a possible overbought situation and a bearish trade.

Lets Talk BA

Boeing (BA) is also on our list of companies to watch.

Finally, the FAA is approving the 737 MAX to fly again with full certification. Its been a long time coming!

As a result, BA is pushing higher, getting to the $230 level which is the last previous high that it reached back in June.

So, if it can push through that $230 level, it would indicate another buy signal on this stock.

Last But Not Least

Weve got BYND on our radar as well.

This is the plant-based burger company, Beyond Meat.

Its had a couple of knocks lately and we think its a little overvalued.

Its third quarter earnings were not great, and a couple of brokerage firms have put a lower target price on it.

Also, word is that McDonalds is starting its own plant-based burger and excluded BYND from its distribution systems. So, that could put pressure on BYNDs stock price.

It might have some downside opportunity going forward.

Thats our overview for today, folks!

Have a great and safe trading day.

Well talk again tomorrow.

Regards,

Scott Stewart

Scott Stewart

Editor, Rude Awakening

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