Here’s my take on Tupperware ($TUP) (January 06, 2021)TUP SPY DIA DJ-20 QQQ MDY IWM MDY GNRC GBTC
As I look at Tupperware ( NYSE: TUP ) the last time this thing consolidated like this it blasted off big time. It ran up 50 percent in short order, that’s kind of a big deal. And then since that time it has trended sideways. If you look at it today, coming off of the 50-day, kind of like it did back there; you look at the volume, it’s starting to pick up, above average. The last time we had volume heavier than this was on a big move here, which turned out to be kind of the bottom. Wouldn’t you have liked to have bought it at $31.00? Right now, in a real dicey market, you would be feeling good, it’s up about 17 percent.
I’m looking at this now as a stock that is likely to continue to run, at least I would say $40.00, and that’s a very, very conservative estimate. You could go, Dude, that’s going out on a limb. Hey, I’m not trying to go out on a limb. I am just saying another 9 or so percent to the upside looks pretty good to me. More upside potential on a very, very conservative basis than downside risk, this is what we want to see. So I like Tupperware ( NYSE: TUP ), besides, who doesn’t want to have a bunch of containers in their house when you are not supposed to go outside?
Let’s look at the overall market real quick. The SPDR’s, the Large-Caps, the Mega-Caps, they’re still doing well. Diamonds ( NYSEARCA: DIA ), a breakout today, a new all-time high. Transports ( DJ-20 ), a couple of days ago, they are still holding up, maybe we are going to get a break down below the 50. Not so fast Horshack, we’re doing fine now. The QQQs ( NASDAQ: QQQ ), this is where they are a little bit weaker but still trending really nicely. But check this out, the MidCaps ( NYSEARCA: MDY ), boom, lots of money there, lots of action. The Small-Caps ( NYSEARCA: IWM ), boom, that’s going as well too, new highs.
Why is that? Because we have a better handle on what our government is going to look like after January 20th. It’s looking like a lot of money is going to be sloshing around and that’s good for smaller companies, it just is. A lot of money going to a lot of different people. There are issues with all of that but I am just talking about stocks, that’s what you want to see. If there is free money, if they say everybody is a millionaire stocks are going to go to the moon; that’s all we care about.
I like the way the market is trading right now. Members, I have given you a lot of setups, a lot of things that look like they are ready to go. Some of them are going, but the one caveat that I have to say, the one qualifier is, breakouts are really not working, generally speaking, they are not working. There are some, look at this breakout, look at the MidCaps ( NYSEARCA: MDY ), look at that breakout, that’s working. I can show you some that are; look at Generac ( NYSE: GNRC ), this is one of our Active Trade Stocks, this breakout is working. But so, so many of them have not been and so I will feel even better about the market when I see breakouts that actually hold and keep going. I am not quite seeing that yet but I love all of the setups that we are seeing.
We have done really well on some of our trades so far even this year. That GBTC ( OTCMKTS: GBTC ) has been a huge winner, I think that is still going. This is the time frame, the operative time frame that I am seeing; $40.00 was my target, it has hit there today, we will see how it trades over the next few weeks. Maybe we get a little bit of a pullback, but the way this thing is going we are probably not going to get much. It is literally seen now as a store of value, as a hedge against inflation in times of uncertainty. Who would have thought that bitcoin would be that? But it is.