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The market continues to exhibit softness on persistent worries over (what else?) the tariff situation, and it’s clear that a re-test of the recent lows is underway. While there are some encouraging signs on the technical front, the primary evidence is still negative, with the major indexes remaining under their key trend lines. Bottom line: Patience will likely be needed before a sustained advance can develop. Accordingly, we’ll keep our Market Monitor at level 3.

This week’s list has a fair number of stocks that should be able to shake off tariff-induced headwinds. Our Top Pick is showing solid relative strength and has excellent potential in a fast-growing business.

Behavioral studies have shown that when we buy or sell a stock, these factors play a prominent role in our decision.

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Sell GM. General Motor’s EPS is now expected to grow less than 1% in 2017, so an expectation of additional capital gains is unrealistic in the foreseeable future. Plus updates on BorgWarner (BWA) and Quanta Services (PWR).

Porch Group (PRCH) Reports Q1

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Three stocks move from Strong Buy to Hold, and two stocks are good buys here.

It’s been a highly unusual market environment, with the overall market grinding slightly higher, but with growth stocks generally under pressure as more leaders crack or test key support. We continue to think great things will happen when looking out a few months, but we also have to deal with the here and now and have been shedding names as they act abnormally, giving us a cash position north of 50%. We’d prefer to have that lower, but are holding it tonight, waiting for at least some support to show up before putting some of it back to work.

Today’s recommendation is a fast-growing mass market stock that has the leading market share in the online food ordering business. The stock has been trading sideways for five weeks and I think it’s ready for a breakout.

A Joe Biden win is becoming increasingly likely, and that could mean a big bump for infrastructure stocks - these three in particular.

Weave (WEAV) reported Q4 results after the close yesterday that beat expectations on both the top and bottom lines while also giving 2024 guidance above consensus. Revenue grew 21.2% to $45.7 million (beating by $1.5 million) while EPS of -$0.01 improved by $0.05 over last year and beat consensus by $0.03.

This week was generally one of stabilization, with the major indexes down 1% or less as of this morning, as volume and volatility tapered off. This continues a trend seen since last Thursday (and, for many stocks, last Monday) of stocks, sectors and indexes finding some support after a horrific three-week decline.

Natural Grocers (NGVC) should have a decent day (+20% in early hours trading) after Q2 earnings beat expectations. Revenue grew 9.0% to $335.8 million (a $6.1 million beat) while GAAP EPS of $0.56 grew by 60%. Daily average comparable store sales grew by 8.9%. This was a very strong quarter.

Delcath (DCTH) reported before the bell this morning that Q4 revenue was $15.1 million (+2,701%) and adjusted EPS was $0.00. Revenue beat by $1.5 million (almost 11%). Gross margin was 86%.

Stocks are bouncing this morning, but overall, it’s been another down week for the market, with the major indexes probing new correction lows as recently as yesterday. That obviously keeps the intermediate-term evidence pointed down, whether you’re looking at the trends of the major indexes, the action of individual stocks (70% of S&P 500 stocks and 80% of the broad market came into today south of their 50-day lines) or broader measures (new lows are swamping new highs each day).

The market saw a ton of volatility in July, August and then with a good-sized early pullback in September, but this was the third straight week of quieter action, with most indexes up less than 1% on the week—though, encouragingly, we did see better action among some growth funds and individual stocks.

It’s been another flat-to-up week, this time with the big-cap indexes and many growth measures either flat or up a smidge, while some of the broader indexes are up in the 1% to 2% range.

I moved Zeta (ZETA) to buy this morning given the rather extreme selloff after earnings. Not long after that alert went out, a short seller by the name of Culper Research issued a short report on Zeta. | By far the most questions I’m getting right now are about Zeta (ZETA). You read my update yesterday, and it was bullish. Analysts increased price targets from the mid-30s into the low 40s, with some going up to 50.

For the major indexes, the post-election ups and downs continued this week, with the moonshot two weeks ago leading to a relatively uncomfortable dip last week, but that led to a nice rebound coming into today, with most indexes up in the 1.5% to 2% range.