thx Chris! sorry if i don't come by here so often like old times...admittedly have been going through all sorts of issues in my actual real life. experienced another passing in the family the other week in fact. and my grand dad had a horrific fall at his home just last week in fact. he's doing better (knock on wood) thankfully. but, man he was actually kinda fortunate it wasn't worse. i was told it could have easily been fatal. anyway, enough of me! i hope you all have been doing groovy in here! with your trades and all that jazz of course. i still lurk in here almost everyday (or at least try to anyway), even though i can't contribute like i used it. but also because most of my old time buddies from way back like you T are here, which is really the only reason i even still check in here. happy first day of spring to all of you! i actually can't believe how quickly the year is rocketing past us. or at least how it has felt for me! crazy.
Sunday morning news to chomp on. We also have a 7 year treasury auction. This week will be interesting.
Good Monday morning traders and investors of the Stockaholics.net community! And welcome to the new trading week, and a frrrrrrrresh start! Here's a quick peak at the futes as we are just over an hour and half from the cash market open. GLTA in this trading week ahead!
Morning Lineup - 3/22/21 - Nasdaq Leading a Mixed Bag Mon, Mar 22, 2021 It's been a while since we've had a "vaccine Monday" but today's supplier of positive headlines is AstraZeneca (AZN). The company announced earlier that its vaccine was 79% effective against symptomatic COVID-19 and 100% effective against severe disease. More importantly, AZN also reported no safety concerns such as the blood clotting issues that had been reported in the EU last week. Unlike prior vaccine Mondays where equity futures have typically surged in reaction to the news led by the DJIA and S&P 500 while the Nasdaq lagged, this morning's picture is the complete opposite. DJIA futures are actually lower heading into the opening bell, the S&P 500 is flat, Nasdaq futures are up half of one percent, and the 10-year yield is actually lower. With AZN likely to now enter the fray, it's only a matter of weeks before vaccine shortages in the US turn to gluts. Tomorrow marks the one-year anniversary of the S&P 500's COVID low and what an impressive run it has been. The chart below shows the performance of each of the S&P 500's components since the close on 3/23/20. Of the 500 names shown, the average gain through Friday's close has been just over 100%! Even more amazing is the fact that only three stocks in the entire index are down during this span. The worst of the three has been Gilead (GILD). With a decline of just over 10%, the maker of Remdesivir, which originally rallied on the promising prospects of its potential COVID treatment, has been a dog ever since. On the other end of the spectrum, the top-performing stock has been ViacomCBS (VIAC). Since the close on 3/23. VIAC has rallied nearly 800%. Behind VIAC, four other stocks are up 500% (TSLA, LB, ETSY, and FCX). Notably absent from the list of top performers is the Technology sector. Of the top 50 performing stocks in the S&P 500 since 3/23, only one stock from the Technology sector (Enphase- ENPH) made the cut.
SPY still doing pretty good here, those support levels are predrawn from previous lows and so far its keeping to the higher of the supporting trend.
Yields are trying to somewhat cool off. VIX is pre 20 again, will it relax to the old time levels? The buy the dippers seem to be following the herd. To the moon or off the cliff is the question. We have TONS of new citizens swarming in at alarming rates, wonder how that will affect the already staggering unemployment numbers. Banks will be in focus to see how they perform without the extra cushion. Choppy waters are ahead, paddle with caution.
black gold sub 60 again ... wondering if we continue to see the weakness there if the majors will take notice.
I was talking about oil in another thread a couple days ago. The oilers should be taking a slight break. A lot of oil rigs firing back up, demand is still moderate. I'm not seeing anything across the board to get excited about, watching the buy the dippers for now.
Morning Lineup - 3/23/21 - Nasdaq Outperforming Again Tue, Mar 23, 2021 US equity futures are shaping up a lot like Monday where the Nasdaq is leading the way, although unlike yesterday where all three major averages were higher on the day, so far it's just the Nasdaq. Treasury yields and crude oil are both trading lower to start the day as rising COVID cases in Europe have dampened risk appetite. In Fed news, Dallas Fed President Robert Kaplan was on CNBC earlier and said he sees inflation for 2021 coming in at a rate of 2.25% to 2.50% but sees the rate of price increases declining again in 2022. Kaplan is only the first of many Fed officials, including Powell, scheduled to speak today, so expect a lot of headlines on that front. The Philadelphia Semiconductor Index (SOX) has been in a relatively steady downtrend since its high in early February. Last week the SOX briefly traded and closed above that downtrend but quickly reversed back below. Yesterday, the SOX's rally to kick off the week not only brought the index back above its 50-DMA and downtrend line, but it was also the first time that the index opened and traded above that downtrend line for the entire trading session. The SOX has still underperformed the broader market by a relatively wide margin over the last month, but if it's going to get back on track, it has to start somewhere.
There are more and more short setups forming in the tech stocks I'm watching. Time to get the bear claws out? Certainly would have made more money than being long these past weeks. DDD and SDGR alone dropped a cool 9+% today.
Choppy waters are the best. I dont understand why the longterm investor types claim traders don't make money. They are getting their asses smoked and money jumps in my pocket. Sad part is they think the worst is over, they ain't seen nothing yet.
Let the chips fall as they may. Will we end green or red like yesterday. I'm still watching the buy the dippers, still don't see anything to get excited about just yet.
Good for them. Even with the negative press of all the GME stuff that went down, they still came into the sector with a great product and got thousands of new investors into the markets, which was a good thing.
