Market review from UTEX — week 28

Over the shortened week, indices edged higher: the SPY rose 2%, while the Nasdaq gained 0.8%. Top gainers included Palantir (+14%), Palo Alto Networks (+14%), and Apple (+8%). Notable decliners were SanDisk (-22%), Micron Technology (-15%), and Marvell Technology (-8%).

Bitcoin rose 5% over seven days, currently trading at $62,800. Ethereum jumped 13%, now at $1,780.

Michael Burry (The Big Short) said in a Friday Substack post that he has opened a short position in Micron at $1,051.87. He also has shorts in Nvidia, Applied Materials, and the iShares Semiconductor ETF — Burry expects a correction in AI chip developer stocks.

Non‑farm payrolls increased by only 57,000, half the forecast (115,000). Prior months were revised down by 72,000. The unemployment rate fell from 4.3% to 4.2%, but largely because some jobless Americans stopped actively looking. The labour force participation rate dropped to 61.5%, the lowest since March 2021.

On Tuesday, July 7, SpaceX is set to join the Nasdaq 100 before the market open.

On Wednesday, the Fed will release the minutes from its latest rate meeting. Inflation is double the desired level, and half the committee members forecast a rate hike by year‑end.

The new earnings season kicks off on July 13. This week, we highlight results from Levi Strauss, PepsiCo, Delta Air Lines, and PriceSmart.

Top trading ideas for this week

🟡 PepsiCo (PEP). Report on July 9 before market open. Medium‑term prices look quite reasonable. Support around $130. Don't expect explosive or fast growth — more of a long‑term story with a 4% dividend yield.

🔴 Penguin Solutions (PENG). Report on July 7 after market close. A manufacturer of integrated AI infrastructure, managing computing systems for enterprise clients. From April 2026, the stock rose from $17 to $77. It has since pulled back to $60, with volatility spiking. A strong move after the report is highly likely.

🟡 Simply Good Foods (SMPL). Report on July 9 before market open. A producer of functional and diet foods under the Atkins, Atkins Endulge, and Quest brands. Over the year, shares have fallen from $30 to $10. Over the past month, they have tried to bounce (+16%), which could turn into a decent medium‑term play. Consensus estimates from major agencies are moderately positive: about 30% of analysts recommend buying, 70% say “hold.”

🔴 Strategy (MSTR), Coinbase Global (COIN), BitMine (BMNR). Bitcoin has been stable above $60,000 since July 1 and is attempting to establish an uptrend. If it succeeds, crypto stocks could see a nice rise. Ethereum is also holding up for now.

🔴 Micron Technology (MU), SanDisk (SNDK), Western Digital (WDC), Seagate Technology (STX). Among the most volatile stocks on the market. Michael Burry has joined the shorts in MU. 

Choose what suits you best:

🟡 Medium risk, for traders with some experience;

🔴 High risk, for professionals.

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