♟ This Friday, We'll Find Out Whether the Bear Is for Real (Here's Why)

Major Earnings Reports Will Give a Clear Picture‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

"Citigroup will be the stock that determines whether the bear market is for real. Here's why..." Bryan Bottarelli, Head Trade Tactician, Monument Traders Alliance It's the biggest Wall Street debate of 2022... Are we in a bear market... or not? Everyone has an opinion. On the one hand, I could easily make a case that we ARE in a bear market... But on the other hand, I could easily make a case that we ARE NOT in a bear market... There are plenty of facts and statistics to support both arguments. However, if you're looking for one final, conclusive and definitive answer, I'm here to tell you it'll come this Friday. Specifically, the answer will be revealed when some of the major financial stocks report earnings. Gangster grandma loves her new $2 lottery ticket stock. In fact, it's UNDER $2 right now. Our financial guru wants to make sure you know that. Get the details before it trades for over $2 and we have to update all these space ads. You see, as I've been telling War Room members for weeks, financial stocks are cheap right now. Very cheap. For example... JPMorgan Chase (NYSE: JPM) trades at 1.3X book value. Bank of America (NYSE: BAC) trades at 1.1X book value. Goldman Sachs (NYSE: GS) trades at parity to book value. This means that if Goldman were liquidated tomorrow, the value of its assets at auction would be equal to the value of all of its shares at their current price. Historically speaking, buying financials at these levels has been a savvy idea. What's more, all of these major financial institutions recently passed this year's Federal Reserve stress tests - which means that they're prepared to withstand any further market weakness (should we see any). JPMorgan and Morgan Stanley are scheduled to report earnings before the open on Thursday. Their results will give us a good idea of whether or not the financial sector is close to a bottom. But here's why Friday is so critical... Before the open on Friday, the following financial stocks are scheduled to report their earnings: Wells Fargo Bank of New York Mellon BlackRock Citigroup PNC Financial Services Group State Street. Here's what I'm looking at... YOUR ACTION PLAN Of these companies, Citigroup (NYSE: C) will be the stock that determines whether the bear market is for real. You see, of all these financial stocks, Citigroup is the cheapest. It trades at 50% of book value - the lowest valuation of any major financial company right now. If Citi can rally off earnings, then we'll have a good idea that the market bottom is close. If Citi CANNOT rally, then we'll know that there is more downside ahead - and that we're in a bear market. To me, Citi's reaction to earnings this Friday this will be the clearest, cleanest and most telling illustration of whether or not we're in a bear market. No matter what happens, it's critical that you're prepared to trade this reaction accordingly - which is exactly what we'll be doing inside The War Room. If you'd like to get in on the action, then you're invited to join our elite group of traders right now. Click here to enter the room! Do YOU own any of these tech stocks? (Warning) Inflation is ticking higher and higher... But most Americans are NOT prepared. Fortune reports that "inflation could end tech stocks' winning streak in 2022." Are you ready? We have a list of five tech stocks you should AVOID in 2022... Click here to see how to claim it. MONDAY MARKET MINUTE Target Range Up! Wells Fargo upgraded Range Resources (NYSE: RRC) to "Overweight" and moved its price target up from $44 to $49. The bank thinks the recent weakness is overdone, reflecting updated oil and gas price outlooks, as well as higher inflation expectations. Tracking. Twitter Drama? With Elon Musk terminating his $44 billion bid to buy the social media giant, there could be an elongated court battle ahead. Make sure you're positioned if any major news triggers a tech sell-off. Energy Stocks in Play. If energy corrects more, there could be a lot of potential in the sector for next winter. If there's no resolution in the war between Russia and Ukraine, expect prices to take off - especially in the natural gas sector. Earnings Season Kickoff. A number of high-profile reports are coming this week. Expect inflation and discretionary spending to be front and center. We're positioning ourselves in The War Room for what Barron's tech writer Eric Savitz says "could be the most important tech earnings period in years." Jolla Jumps! La Jolla Pharmaceuticals (Nasdaq: LJPC) went up 82% this morning after the company announced it had entered a definitive merger agreement whereby Innoviva (Nasdaq: INVA) will acquire La Jolla for $5.95 per share and an incremental $0.28 per share for additional cash proceeds. INSIGHTS YOU MAY HAVE MISSED My First Big Winner (What a Rush) Is the Bottom Finally Here for These Markets? Weak Markets Actually Help This Pick First Half Report Card: The Good, the Bad and the Ugly Follow Us on Instagram! FACEBOOK TWITTER   Monument Traders Alliance   You are receiving this email because you subscribed to Trade of the Day. To unsubscribe from Trade of the Day, click here. Questions? Check out our FAQs. Trying to reach us? Contact us here. Please do not reply to this email as it goes to an unmonitored inbox. 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