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Can the bull run? My POV and more

Jul 25, 2022

Good morning!

‍The markets came out of the gate strong and that’s good because it heralds a change of psychology into the tail end of the year.

Here’s my playbook.

Can we call the bottom?

MyPOV with the fabulous Stuart Varney this morning when he asked me the same thing on Fox Business ahead of the open. (Watch)

Chewy upgrade

Needham upgraded Chewy (CHWY) to a buy saying that price increases are holding and that the company’s previous concerns about supply chain logistics are improving.

No surprise - people will pay anything for their pets.

As great as that is for Chewy, there’s another company I like even more that also has exposure to the pet market. Shares could easily take out 52-week highs if the bull runs because it’s bigger, has a better brand portfolio and a rock-solid dividend. (Get the stock)

If you don’t know which stock I’m talking about, I’ll address it in today’s OBA weekly update – stay tuned!

Russia default = big headlines but not much else

Russia defaulted on foreign currency debt last night for the first time in more than a century. Technically, Russia can pay the debt according to Russian Finance Minister Anton Siluanov.

Makes sense. The last data I saw suggests Russia owes about $40 billion in foreign bonds but reportedly had $640 billion in foreign currency and gold reserves held abroad prior to the war on Ukraine.

Not a big deal for investors or Russians for that matter.

Paychex most important #s all week

PayChex Inc reports this week – among others – and I think it’ll be the single most important set of numbers we’ll get all week.

PayChex provides human resources, payroll processing and outsourcing services to small/medium-size businesses which means that it’s going to be a far more accurate barometer than any government data when it comes to payroll, employment and inflation IMHO.

The stock is up 4.36% in pre-market trading.

The safest stock you can buy today
I’m frequently asked for stocks to “buy and hold” and, as you might imagine, it’s a pretty short list.

JPMorgan (JPM) is right at the top at the moment.

Team Dimon is perfectly positioned to defend against inflation and exploit higher interest rates ahead. Plus, JPM has strong capital ratios and increased guidance despite Dimon’s now-infamous economic hurricane comments a few weeks back.

Bottom Line

The person looking out at you in the mirror every day is the key to better results. In life and especially in the financial markets.

Let’s make it a strong week.

You got this – I promise!


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