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How high can the markets go?

Aug 08, 2022

Good morning!

‍Much to the consternation of armchair perma-bears everywhere, the rally just won’t die. In fact, it’s gaining strength on the back of three straight weeks of gains.

Will it last?

That’s another question.

Here’s my playbook.

How high can the markets go?

About another 9%.

Here’s 3 reasons why in response to the fabulous Stuart Varney who asked me exactly that ahead of today’s opening bell. (Watch)

The big dogs are off the porch: Fear has shifted to FOMO, Powell isn’t Volker and big tech earnings have created “pull” not push.

PFE makes a buy

Pfizer is on the cusp of customizable medicine and purchases like Global Blood Therapeutics (GBT) will play an important role in that.

Happy I own Pfizer: The company has a great portfolio and a rock-solid market approach that will pay off for decades. What the company is doing goes waaaaaaay beyond vaccines.

Where’s the SEC? Shares of GBT are up 88% in 2 sessions following reports that a deal was near and trading at $66.62 as I type. Somebody clearly knew something ahead of time yet … crickets.

More on TSN, NVDA and PLTR later today

I’ll be sharing my thoughts on all three stocks in today’s One Bar Ahead™ weekly update. So please keep an eye on your email if you’re part of the Family. If you’re not and you’d like to be, (click here)

CVS to buy Signify Health

CVS Health ($CVS) is reportedly planning a takeover bid for Signify Health ($SGFY) as part of its plans to expand in-home health services according to a WSJ report. The stock jumped 16.7% in premarket trading.

The better play: Amazon/Apple/Costco which plan to enter your health care and your home via different channels that will add value, not just sell you stuff. Put another way, you’re far more likely to let Amazon/Apple/Costco into your home because you place a premium on their services.

Right or wrong: Health insurance, drug companies and the like are still the enemy for all intents and purposes for millions of Americans who feel they’re being shafted by an out of control system.

Pawn Stars Rick Harrison nails it

Like many people, my wife and I enjoy watching Pawn Stars every now and then. It’s a guilty pleasure because to paraphrase star Rick Harrison who owns the shop, “you never know what will walk through that door.”

Harrison spent a few moments with Fox and Friends Monday, noting that people are starving for cash. (Watch)

Why this matters: Roughly 20% of the adult population doesn’t have a bank account and fully 2/3rds couldn’t write a check for $500 in an emergency if they had to.

It’s no wonder: Shares of Dollar General have been on fire lately, an observation I first shared with you following my Las Vegas motorcycle trip this spring.

SoftBank dumps Uber at the curb

Not that I am surprised but SoftBank filings show that the company dumped its entire stake in Uber at a profit as part of trying to stem mounting losses totalling $21.68 billion and counting, according to SEC filings and as reported by CNBC. (Read)

My thought bubble: Neither stock is worth the paper their certificates are printed on. The same people who are getting burned by both will never be back when they’re needed.

Bottom Line

You cannot control the markets. But you absolutely can control how you approach them, what you do, when and why!

Let’s MAKE is a great day and a strong week!



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