Tackle Today: Stock of the Week: Best Buy
July 24, 2019
≈ Check the analysis on Instagram. ≈
Best Buy is an American multinational consumer electronics retailer. When it comes to this type of store, passions are high. Either you love them or you hate them.
A quick search on Google lays out this exact scenario. There are four-point-something stars reviews and there are one-star reviews. A couple of thousands each.
Before dressing up as traders to do our daily job, we are consumers, which can be tricky. The weekly Scouting Reports meetings became a (very funny) showcase of such Jekyll & Hyde, Consumer & Trader bipolar disorder. Here are some tickers that cause passions to arise almost every Friday:
- GE
- CROCS
- Brazilian ADRs
- IPO stocks
- BYND (big shout out to Coach Mark)
- Pot stocks
- LULU
- The triad BIG, BJ, JNJ
And then, there’s Best Buy (NYSE: BBY), which is a personal issue. I’d like the ticker symbol to be changed to WBY (Worst Buy). My only experience with them was as horrible as it could be.
HOWEVER…
As traders, we can’t let emotions cloud our decisions. If it’s a buy it’s a buy. If it’s a sell, it’s a sell.
You voted you got it: Best Buy Co., Inc. is the stock of the week on Tackle’s Instagram. Go to our profile and check Coach Tim’s analysis on the asset. BBY is also featuring on the last Options Report. Nice breakout pattern, perfect case to apply the S.T.E.P. System rules.
If you want immediate access to the Options Report and the S.T.E.P. swing trading system, sign up now for a 15-day free trial here and start trading like a PRO.
Chart of the Day
Best Trigger
Best Buy got the best trigger on Coach Gino’s Options Report. Who got triggered into this trade?
Make sure you have a plan to apply the rules taught in the S.T.E.P. System course for this type of pattern.
Video of the Day
Trading Justice Interviews: Jack Schwager
In this episode of the Trading Justice Podcast, we welcome Jack Schwager for a discussion on trading, writing and the current state of the markets.
Today’s line up
Traders Lounge 11 AM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Coaches Show Replay
If you missed last night’s episode where Coaches Tyler Craig and Grant Larsen talked about the Protective Put strategy from the new Tackle Trading Playbook or would like to watch it again, check it out here.
Mind of a Trader 8:30PM EST
Mind of a Trader is a special webinar series where our traders go over trades they are personally analyzing, their take on the current market conditions, strategies that they believe are effective in today’s market conditions and special lessons they believe are applicable to all traders.
Halftime Report 12:30 PM EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.
Market Recap 4:30 PM EST
The Market Recap is designed to give you a quick overview of the day that was. While brief, this report is designed to cover all of the major events that drove the markets that day and help you plan for the trading day ahead.
Trading Justice Episode 331 – Hiro Ababon: The Life Story of a Trading Veteran
In this episode of the Trading Justice Podcast, we welcome Hiro Ababon. A veteran of the military and the financial markets, he’s been a lifelong learner, investor, and entrepreneur. Listen to the episode on the player below.
Financial freedom is a journey
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