Stock Market Today: October 12th - 16th, 2020

And I just realized maybe I wanted SPXS instead.

What's the leveraged ETF for RUT?
edit: here we go, the ProShares version
https://www.proshares.com/funds/geared/

 

Closed SQQQ for scratch. Transports and Small Caps turning up.

 

Coming To America sequel reportedly bought by Amazon for $125 million.
https://deadline.com/2020/10/eddie-...-uncertain-theatrical-marketplace-1234596555/
Will Amazon Take On Eddie Murphy’s ‘Coming To America’ Sequel Because Of Uncertain Theatrical Marketplace?

 

Market dragging down by AAPL Also got some bad vaccine news from JNJ and LLY

Probably not getting the new iPhone, I don’t think 5G is developed enough yet in this country. The battery of my phone is getting pretty bad though so I won’t completely ruling out getting the new iPhone

 

XBI pretty strong I have been playing those biotechs with a few billion dollars of market cap lately and some of them have done pretty well

 

Save your earbuds and charger.
I think I have an iPhone 9. So my charger is pretty old

 

I tried to take a look at the ETF holdings a couple weeks ago but there are so damn many. And 99% of them are clinical stage; I finally realized the difference between XBI and IBB lol.

Many of the best-looking ones in there have run so much already, but that seems to be the theme this year all around (DKNG, TSLA, ZM, etc.) This one has a chance with me

 

Yeah the XBI holdings have a lot of those smaller biotech companies I wish I had some money on KOD

 

finviz has 65% of stocks declining today.
Oscillators are in overbought territory.

 

Wow NIO up huge Got in at $18.14 and pretty happy so far

 

Industrials and materials seem to be outperforming today, tech and banks are lagging

 

Transports were positive.
SPX was just green 4 days in a row, this is just a dip

 

We have a dilemma here. Market top, large layoffs starting this week, initial federal unemployment benefits starting to expire from March filers, increasing covid cases and outbreaks in USA and Europe, and a potential drop in continuing claims.

how will the markets react to this? It is negative news but positive looking numbers. Typically the market has reacted only to numbers not news. Do we short here or long? I am very conflicted because I want to short this market given the current fundamentals piling on are negative.

 

Looks like a successful test of the low today/this week.
S&P and Nasdaq hold above this week's pivot.
Looks like we'll trade sideways this week and avoid a breakdown.

VIX looking like it will slowly work its way downward. Maybe we'll get bumps here and there, but the 50 ma can avoid turning up.

 

FSLY earnings after the bell last night dragging down those high valuation tech stocks Overall still not too bad, those cyclical sectors like materials and industrials continue to outperform the market

 

VRTX down huge Helping my ARWR position though

 

HTZ, $165 million market cap, gets a $1.65 billion loan.
Might trade close to a billion shares today.