Preparing For Our Next Group of Portfolio Stocks

We do a lot of research at EarningsBeats and much of it has to do with quarterly earnings.

Last week, we saw the highest number of companies reporting quarterly results and things will now begin to slow down. However, here at EarningsBeats, we're speeding towards our next Portfolio DRAFT Day.

Every company that reports solid results that beat Wall Street consensus estimates and lands on our Strong Earnings ChartList (SECL) will be considered for our Model or Aggressive Portfolios, both of which are easily outpacing the S&P 500 in the latest quarter, year, and since inception.

While we'll consider many companies that are screaming higher, we'll also consider stocks like Doximity, Inc. (DOCS), which just broke out of a trading range on an absolute basis and is now at a near 3-month relative high:

Enter Doximity, Inc. (DOCS):

While we're proud of the track record of our Portfolios, we also realize that we're in the business of "what have you done lately?" So pressure will build to put together another strong group of stocks to beat the S&P 500 next quarter. We're doing our homework and stocks like DOCS will be considered before our final decisions will be announced on "DRAFT Day" next week. There will be plenty of competition in the software space ($DJUSSW) as DOCS is 1 of 44 software stocks in the SECL right now. Software leaders like PLTR, PRCH, APP, SHOP, ORCL, NET, among others, will be vying for a role in our portfolios as well.

Prior to the DRAFT, though, many of the stocks I mentioned, like PLTR, APP, SHOP, and NET, have a TON of net in-the-money call premium, which suggests it could behoove market makers to work prices lower at some point this week on many high-flying stocks.

Happy Trading! Tom Bowley Chief Market Strategist EarningsBeats.com Better Timing. Better Trades.