Nightly Briefing 7/1/20


As anticipated from weeks ago, expect continued whipsaw in the market into next week. These periods occur throughout the year and make it difficult for anybody to make money. However, it is nearly finished and we have several trades very close to being triggered.  Around mid-month, a strong bull trend is expected into the July FOMC meeting on the 28/29th. The rally should continue into early August at a minimum, with possible extension into the political conventions in late August. Near term a pullback into July 2/6th is possible but the powers that be seem hellbent on keeping this market supported. Weakness may be answered with buying from the plunge protection team. Certainly not a market you dare short. There is a big disconnect between Main Street and Wall Street that we do not expect to end anytime soon.



We issued a late update last night on Denny's secondary offering of 8 million shares by Wells Fargo. Proceeds from the raise will be used to help franchisees and to support Denny’s stock price in the open market. Major banks don’t buy stock in a deal like this unless they are confident there is an effective exit strategy in place for them. Expect a flurry of good news and for the share price to start marching upward into month end. A quick spike down to $8.50 is possible over the next 2 days on anticipated market volatility. The deal closes on Monday July 6th, so expect the syndicate to support share price. The large banks that purchased the $72 million dollars paid $9.15 per share and they expect profit in the weeks and months ahead. The sell-off in March had DENN at $5 per share. A great value play here in this price range. Expect us to issue a double down alert the next 2 days. We almost executed it today but anticipate possible weakness Thursday as some retail sells into the weekend. We hope their pain can be our gain.


Buyers are emerging on every dip in BLMN. We will all be happy the second half of July. We expect strong corporate developments very soon.



We have two short term trades in NUGT and DUST lined up for July, working both sides of the gold miners. The price swings will be extreme this month.


Energy needs to pick a direction in order for us to make money. Until a top or bottom forms we will not touch oil. $34-$44 is our expected range on a medium term outlook.

We know some people have travel plans coming for the long weekend in the US. Keep a close eye on your phone for our alerts as they may trigger Thursday and or Monday.

HFZ

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Important Disclosures: Investing in the financial markets can involve considerable risk, including loss of principal. Past performance is not necessarily an indication of future performance.  Actual clients may achieve results materially different from the results portrayed.  All material is for informational and educational purposes only and is not investment advice and is not meant to suggest that any securities are suitable investments for any particular investor.  All information reflects our own actions, beliefs, and processes for purely informational purposes. HEDGE FUND Z LLC IS A FINANCIAL BLOG FOR THE SOLE PURPOSE OF EDUCATION.  HFZ does not represent themselves as acting in the position of an investment advisor or investment manager for funds that are not under their direct control and fiduciary responsibility. 

 

Third party quotes and information may not be representative of the experience of HFZ customers and do not represent a guarantee of future performance or success. Many of the results displayed on our website were achieved using leverage, such as 2x or 3x leveraged ETF's or equity options 

 

The information included at HFZ and HFZ writing, research, and updates is prepared for educational purposes and is not a solicitation, or an offer to buy or sell any security or use any particular system.  Information is based on historical research using data believed to be reliable, but there is no guarantee as to its accuracy. HFZ does not represent themselves as acting in the position of an investment adviser or investment manager for funds that are not under their direct control and fiduciary responsibility. HFZ will not provide you with personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio or securities, transaction, investment strategy or other matter.  

 

No information, nor any opinion expressed on the Site or in the Services, shall constitute a solicitation or an offer to buy or sell any securities mentioned therein.  The information presented on the Site and in the Services has been prepared without regard to any particular investor's investment objectives, financial situation, needs, capacity, and trading ability or experience. Accordingly, you should not act on any information on the Site or in the Services without obtaining specific advice from your financial advisors and should not rely on information herein as the basis for your trading and/or investment decisions.  HFZ cannot claim or represent that any of our Services are suitable for you. 

 

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