Power Plays Weekly Roundup + Taking Off BA
July 28, 2023
By Scott Redler
To start off today, we'll take off Boeing (BA) from Power Plays here.
The stock has exceeded the $225 to $235 range I thought it could hit, so let's lock it in as we look for new setups.
As of late I've been getting more Tactical because tech has shown signs of getting toppy.
And yesterday I got shopped out of several positions.
QQQ is getting a bounce on the Intel (INTC) and KLA (KLAC) earnings reports, plus today's light Core PCE reading.
But I still believe there is a good chance that the summer high is in for tech.
So looking forward to the weeks ahead, I think we'll be more in the mode of looking for one-off trades rather than taking an "all or nothing" approach.
We've got some big names reporting next week like Apple (AAPL), AMD (AMD), and Amazon (AMZN) so there will be no shortage of action.
Now let's go over our remaining Power Play:
Unity Software (U) has had multiple starts and stops over the past month, but the overall trend looks strong. I still think it has potential to break through the $50 area and potentially go well above that.
Have a great weekend!
Scott Redler Positions Disclosure as of 2023-07-28 at 9.52.54 AM