Chat Highlights – Buy alert for a Latin American ETF

Summary

  • Bullish on Latin America, adding iShares Latin America ETF.
  • Enovix announces battery deal for mixed reality headsets.
  • No covered calls to sell on Palantir yet, waiting for RSI readings over 70.

Each week we publish a summary of a few of the articles, topics and ideas found in the MoSI chat. We encourage you to visit chat to read about updates to our investments, share ideas, and ask questions. What follows are a few of the conversation threads from this past week and links to some videos and articles. Join us in the chat.

Adding iShares Latin America

Kirk Spano Jun 24

I’m very bullish Latin America (ILF). This fund tracks pretty close to Brazil, but includes other nations. I think for a broad approach this is the fund. I use it in 401k accounts.

#iShares Latin America ILF

I think that’s a buy the dip opportunity. I’m adding it to client accounts.

Rural Washington State Jun 24

ILF is the Latin American ETF I’m buying. It contains VALE, PBRA, NU, ITUB as the top 4 companies. It appears to have bottomed and has recently started moving up, so I also bought some calls. I will convert called to stock if it does ok.

I’m also buying EWZ, the Brazilian ETF, since commodity ETF’s like HARD are turning around, as well as CAG.

Kirk Spano Jun 24

no need to buy both EWZ and ILF the correlation is very high. And, don’t buy calls unless a move is already underway. Too much risk.

Enovix announced a battery deal this week.

Sandy Ferguson Jun 25

Nice start for Enovix (ENVX)! Announced battery deal for mixed reality headsets and now up 20% in pre-market. Let’s run!

Theresa May Jun 25

For the bulls this is a beautiful chart, assuming price follows through with a decisive break above $14.20. From a supply/demand point of view, the sellers are waaaaayyy up there. And even that sell-off was driven by lower volume.

#Enovix ENVX Weekly Chart

Sandy Ferguson Jun 25

I’m not going to get my hopes up too much, just yet. This keeps proving to be a “show me” stock. Once the batteries start being delivered to customers, they will have showed the folks waiting to buy in. It will double fasst as soon as that happens.

No covered calls to sell on Palantir yet

nbabb Jun 27

Any opinion on (PLTR)? You’d called the top before and advised to trim or sell covered calls. Do you see a similar setup now?

Theresa May Jun 27

I drew this chart in March and price has been following a predictable pathway. Price trades in the middle of the trending channel which favors neither the buyers nor the sellers. The chart shows the sellers in this market are hanging out around $32.00-$40.00. For myself, I already trimmed this and subsequently sold some $20 cash secured puts that will probably expire unexercised. For now, I still own some PLTR, but their aggressive use of stock-based employee compensation has soured me a bit on the company. For me, we have better companies to choose from in the MoSI universe that promise better shareholder yield. If/when price gets up to the $32-$40 range, we may see extended RSI. I might sell some covered calls then. But if you’re looking to trim, those October $26 covered calls could provide a good return and a total price of $29 if it gets called away.

#Palantir PLTR Weekly Chart

Kirk Spano Jun 27

no yet, see above chart.

did you use TradingView to look at weekly RSI?

if you are going to be an option seller, then you MUST be checking weekly RSI.

looking for RSI over 70, usually a second time, aka, double top (or triple top even).

check monthly RSI to confirm. If monthly is also overbought or close, then even a first weekly overbought you can sell calls.

Some of the articles posted to chat this past week

Russell Rebalancing: What You Need To Know

NFE Announces First LNG in Days and First Cargo in July | New Fortress Energy

2024 AlixPartners Global Automotive Outlook

Voyager Space and Palantir Announce Strategic Partnership Leveraging Artificial Intelligence to Drive Innovation in Space Technology | Voyager Space

https://seekingalpha.com/article/4699849-coterra-energy-ctra-presents-jp-morgan-energy-power-and-renewables-conference-company-call

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Theresa

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