Core Viewpoint - Target's stock has underperformed significantly this year, with a decline of over 30%, primarily due to sluggish sales and challenging economic conditions affecting discretionary spending [1][2][5]. Financial Performance - In the most recent quarter ending August 2, Target reported net sales of $25.2 billion, a decrease of less than 1% year-over-year, while net earnings fell by 22% to $935 million due to rising expenses [4]. - The stock is currently trading at a low valuation of 10 times trailing earnings and 11 times forward price-to-earnings, indicating significant bearish sentiment already priced in [6]. Market Conditions - Economic factors, including concerns about tariffs and overall economic health, have led consumers to tighten their budgets, negatively impacting discretionary spending and retail performance [3][7]. - Expectations for the upcoming earnings report are low, and without positive news, Target may face an even worse year than 2022, when its stock fell by 36% [5]. Investment Considerations - Despite the challenges, Target offers a high-yielding dividend of 5.2%, which may attract contrarian investors looking for value in a beaten-down stock [2][6].

Core Viewpoint - The marijuana industry is currently facing challenges, but Trulieve Cannabis is positioned as a potential contrarian investment opportunity despite its recent struggles [1][2]. Company Performance - Trulieve's stock has significantly declined, with a $1,000 investment three years ago now worth approximately $610 [2]. - In the second quarter, Trulieve reported a non-GAAP adjusted net loss of $8 million, compared to breakeven the previous year, while maintaining revenue at $302 million [3]. - The company has opened three new dispensaries during the quarter, two in Florida and one in Ohio, indicating ongoing expansion [4]. Financial Health - Trulieve is cash flow-positive, with cash, equivalents, and restricted cash increasing by nearly 13% year over year to $401 million [4]. Industry Outlook - There is potential for reform in marijuana laws, with ongoing discussions about decriminalization by the DEA and a financial services reform bill, supported by public demand for change [5]. - Long-term investors in Trulieve are expected to see rewards as the industry evolves [6].

Core Viewpoint - The recent bullish "outside day" candle on April 30 indicates a potential for upward price movement in the S&P 500 Index (SPX), supported by historical trends and current market sentiment [4][5]. Market Sentiment and Technical Analysis - The SPX closed above its year-end 2024 level for the first time since February 28, suggesting a shift in market dynamics [3]. - A significant gap above resistance levels was observed, driven by positive developments in U.S.-China trade talks, which traders did not fully discount [5]. - The SPX's recent rally has left it "overbought" according to the 14-day Relative Strength Index (RSI), indicating potential caution for future movements [6]. Resistance and Support Levels - Key resistance levels for the SPX include the 6,000 mark and just below 6,150, which is the all-time high from February [7][8]. - Potential support levels are identified at 5,882 (2024 close), 5,783 (Election Day close), and the 200-day moving average at 5,760 [15]. Market Dynamics and Investor Behavior - Low put open interest suggests reduced hedging among money managers, who are increasingly looking at overseas markets and alternative assets like gold [2]. - A notable decrease in the buy-to-open put/call volume ratio indicates a shift in sentiment among equity option buyers, moving closer to levels that have historically preceded market weakness [13][14].