Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Jeff Yaede was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.
TraderMinute Founder Jeff Yaede discussed Deere & Company (NYSE: DE) on the show following its Q2 earnings release.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Yaede noted that agricultural sales at Deere had continued to fall, however, the company was still profitable, which Yaede attributed to the company’s good management.
Looking more closely at the company's performance by market segments, Yaede said the the most interesting number in the company’s Q2 report was construction sales, which showed a gain of approximately 2 percent.
The strength in construction and the weakness in agriculture is partly why Yaede was less than enthusiastic about Deere's stock.
From a trading perspective, Yaede felt Deere could be quite volatile and when looking at construction numbers and price action, he preferred Caterpillar Inc. (NYSE: CAT) over Deere & Company in the three to six month timeframe ahead.
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
Notably, Raymond James also recently commented on Caterpillar’s construction industry sales.
Because certain parts of Deere’s revenue and core business were falling, Yaede did not want to “spend time chasing a big upmove.”
Yaede cautioned against shorting Deere’s stock, however, as Warren Buffett’s recent 13F filing showed the company to be one of his holdings. “When that happens, I never want to bet too much against it,” Yaede said.
Related Link: John Deere Downgraded At Baird, Long Thesis Has 'Played Out'
Deere & Company recently traded at $93.86, up 0.55 percent, while Caterpillar Inc. recently traded at $87.69, down 1.06 percent.
Listen to the show here:
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.