00:00 Target and I was watching this action yesterday. It looked like it had a little bit of volume coming into this report
00:06 I think there were some bulls coming in here
00:09 EPS here two dollars ten cents beats the one dollar forty eight cent estimate sales of twenty five point four billion beat the
00:16 Twenty five point three one billion estimate, but then when you see the actual numbers underneath the hood
00:22 This is where it doesn't look that great right comparable sales were down here
00:26 4.9 percent same-day services up 8% if you want to point to a highlight on the report
00:32 But EPS outlook not looking good either q4 adjusted EPS a dollar ninety to two sixty versus a two twenty four estimate
00:40 So now I mean pretty wide there on their outlook and then comparable sales in mid single-digit decline
00:48 If you look at their comparable sales, those have actually been pretty down in the last two quarters
00:53 So, I don't know if the next year is gonna be better for Target and what the CEO was saying is that they were gonna
01:00 Reduce inventory try to be tighter on that inventory to get a little more
01:04 this actually and
01:07 With the - for trash on there's no frashier stock than Target right now because Target has underperformed every other retail
01:16 It seems like out there on the big box stores
01:18 I mean, it was always target Costco Walmart all going together and Target is just hated
01:23 So if they said anything, okay, especially after yesterday
01:27 I had to think that Target was gonna rally and I am not surprised whatsoever
01:32 At the strength of the rally because this is what we are seeing here right now these beaten down stocks that are massively
01:38 Oversold I mean not that they're cheap not that these you know
01:42 This is the value stock that you want to put in your long-term portfolio, but stocks become oversold
01:47 It's what we were talking about a week and a half ago before this rally actually started remember
01:52 I was a couple days early, but I was like these stocks are oversold, you know, TLT is oversold
01:57 Everything is oversold except, you know made the magnificent seven
02:00 So we knew that coming in and that's why I was like not leaning on the short side anymore because it was just too dangerous
02:07 Good stocks were oversold. Well, this oversold rally has now turned into a full-fledged
02:12 Chase is on everything is on let's go, you know, we're going back to all-time highs and maybe we are on the S&P
02:20 I don't think we are on IWF
02:21 But maybe we are on the S&P because it's just like the strength of this rally is nothing short of absolutely incredible and seasonality plays
02:28 Into it, but it's just the type of market we're in
02:30 You've got to identify that too like yesterday
02:33 I'm looking, you know at every solar stock rip and higher, you know off the number at 830 and I'm like well CSIQ
02:40 I'm looking at that and it's had a horrible report
02:43 The stock is bad as a good Reeboks the stocks trade down three bucks and you know what I did
02:48 Not a
02:50 OPG put it out there by the old how it is. I will price I was
02:56 I always put a price. I think I
02:59 Think it was like trading at 18. I put like 1840 or something. I got filled low 18s
03:06 And it ripped it ripped
03:08 $2 in literally like 10 minutes
03:12 Straight up almost to scratch and it was predictable because why the - for trash was on so it's all about identifying
03:19 What is happening?
03:20 What is the theme you could feel the - for trash on same reason why I was talking about the RSP versus spy yesterday
03:26 Which was insane that RSP was trading flat against spy
03:31 I'm like our IWM is up 4% spies up one and a half and RSPs up one and a half
03:36 I'm like no way because why because RSP is full of a lot of the same stocks the same
03:42 Oh, they have the identical stocks, but the weights the weights are all heavier to that small stuff that has been underperforming
03:48 Well that stuff you could clearly see was already outperforming because the IWM was up
03:52 So buying our SP and shorting spy with both up one and a half percent at the time. I was putting it on
03:58 I set it on the show
04:00 Was just it was a slam dunk tray. I mean it was kind of sure
04:04 I love almost undoubtedly gonna work. There's never a hundred percent guarantee, but it was almost undoubtedly gonna work
04:10 that thing RSP opened at the low bring up the Churchill and
04:14 Why in the dust
04:18 Was just dumb market makers or dumb people in the free market trying to sell it
04:22 And again, RSP is thin so RSP is thin in the pre-market. So you have to really watch it
04:28 That's why John was saying I'll be careful on that one because it is a thin stock. It is thin ETF
04:33 It's not thin in the in that and the regular set regular say
04:36 Well, you know when the liquidity comes in the high frequency market maker is gonna go
04:40 You just went target RS CSQ
04:50 One target - for trash
05:00 Okay, what target level
05:02 128 folks
05:02 I wish I would have been on live with you in this thing pop to 128 for highs on the 15-minute chart
05:09 Five highs on the daily. I don't know if it's getting back up there
05:13 But that's a good number for today and then a good number moving forward
Comments