Stocks in Play - December 12th 2024

TLDR Stocks in Play: ADBE, UBER,

Good morning everyone, this is a super early issue of Stocks in Play as I won’t be trading today with prior family commitments but for the sake of consistency I wanted to get an issue out. Just bear in mind that it will miss the morning action which I usually find very important and it was a quiet night last night. Nevertheless I hope it helps you today. No ratings today.

1) Uber Technologies Inc. (Single Day )

Industry Group: Transportation, Market Cap: $128.75b, Float: 1.99b, Short Interest: 3%, Days to Cover: 3, Exchange: NASDAQ

Catalyst: Strong showing yesterday After Hours with the CFO having a positive discussion with analysts at the Barclays fireside. Essentially they rubbished the notion that Waymo was going to cut UBER out. They will be using the UBER ERP system with Moove in Miami. Mobility growth 20% in 2025 and better operational leverage. Stock has had a big sell off and notably continued down yesterday. There may be some tax loss selling going on here which may impede the bounce but I certainly think it’s in play today.

2) Adobe Inc. (ADBE) (Single-Day)

Industry Group: Packaged Software, Market Cap: $220b, Float: 452m, Short Interest: 1.3%, Days to Cover: 1.4, Exchange: NASDAQ

Catalyst: Beat on EPS, Strong Beat on Revs, ARR Beat, Slight Miss on FY25 EPS Guide and Revs. Solid earnings but obviously light on the guide. This might do an MDB and be flat on the mat all day long but pre market it’s already below $500 an area where it has been supported previously so I think it is worth monitoring for a bounce during the day. There is a gap at $486-$493 that may want to fill but I think that would be the extreme of the move.

Market Awareness

Yesterday my market awareness proved to be totally wrong. Instead we had a massive day on the indices. Sometimes that happens and that’s fine just have to roll with it. This morning Trump is ringing the bell on the Nasdaq so I expect an exuberant open at the very least. I won’t be trading this morning but will be back in the afternoon mainly to focus on the After Hours with important earnings in stocks mentioned below.

After Hours I’m Watching: AVGO, COST, RH  (Earnings)

Top Pick Watchlists:

• Top Picks - November 2024

  • LONG: ALAB, HNST, SNOW, ESTC, RKLB, SMTC, URBN, PLTR, GAP, TSLA, SE, RDDT, DESP

  • SHORT: TGT

• Top Picks - December 2024 

  • LONG: CRDO, MRVL, OKTA, FIVE, RBRK

Sources & Services I Use in my Trading:

• Finviz - Short Interest, Float, Articles, Fundamentals (Free)

• Benzinga Pro - News Source + News Squawk + Earnings Data (Paid)

• Tradingview - Charting & Scanning (Paid)

• Koyfin - Fundamental Data (Paid)

• EarningsWhispers - Earnings Calendar (Free)

• Tradersync - Trade Journal (Paid)

_{PS: There are many ways to trade stocks in play. It does not have to be the one that keeps going straight up and sometimes it doesn’t even have to be day one of the catalyst. Everyone must find a setup, timeframe and method that works for them. This list is supposed to educate on the criteria I use and the methods in which I find Stocks in Play. Yours may differ and that is completely okay.}