In today’s briefing:
- Sell Resistances Post Plunge
- ARLO: Penalized for Growth
Sell Resistances Post Plunge
- NDX, DAX, Asia short levels met ahead of the CPI print. Today’s insight focuses on near resistance points to sell into after the conviction bear turn and reiterates downside targets.
- Game plan was to short strength Monday/Tuesday and used pivot support/trailing stops to unwind some long exposure.
- Call to buy the USD on this pullback at DXY 108 worked well with a focus on Euro, ZAR, and weaker Asian FX.
ARLO: Penalized for Growth
- ARLO deciding to spend more on brand awareness this year has given reason for some investors to move to the sidelines
- ARLO’s second quarter results were better than expected and we believe the third quarter has trended better than expected as well
- The timing of switching CFOs was a surprise since five months prior ARLO had established its ad spending strategy.
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