Republic Risk and Insider: Taking Trades

There will be a full issue later this week as I return home. But we are closing out our Occidental trade today.

Equity Storm Watch Is GREEN on the S&P 500 and RED on the Russell 2000

Futures are up a bit this morning thanks to FedEx (FDX) beating fiscal fourth-quarter earnings estimates, which led to a 14% gain in after-hours trading. 

Rivian Automotive (RIVN) also announced a potential $5 billion investment from Volkswagen Group (VWAPY), causing its stock to nearly double after-hours before returning to around $12. This upbeat sentiment follows yesterday’s recovery, primarily driven by Nvidia's almost 8% surge, which helped the S&P 500 and Nasdaq Composite snap a three-day losing streak.

A Quick Note About OXY

Tally another one for the greatest trade on earth, Occidental. After nearly two months of negative momentum in energy, Buffett spotted his favorite energy company back at his preferred entry point, under $60. Someone remind me to send a thank you note to Uncle Warren when this is all said and done. OXY is the insider gift that keeps on giving. I’m sure Cousin Jimmy is smiling down, still hol…