The CPI this Friday and the FED announcement next Wednesday could be the potential events that would spook the market, you might get another chance to get back in pretty soon
Top of the morning Stockaholics! Happy Tuesday to all of you! And welcome to the new trading day and a frrrrrrrrrrrresh start! Here is a quick check on those futures as we are under 4 hours from the cash market open. GLTA on this Tuesday, December the 7th, 2021.
ABUS could be interesting (scalp only for me ) closed 3.71 high in pre 4.41 WARMINSTER, Pa. and WALTHAM, Mass. and MUNICH, Germany, Dec. 07, 2021 (GLOBE NEWSWIRE) -- Arbutus Biopharma Corporation (NASDAQ: ABUS), X-Chem, Inc. (X-Chem) and Proteros biostructures GmbH (Proteros) announced today that Arbutus Biopharma has identified several molecules that inhibit the SARS-CoV-2 nsp5 main protease (Mpro), a validated target for the treatment of COVID-19 and potential future coronavirus outbreaks. https://finance.yahoo.com/news/arbutus-biopharma-x-chem-proteros-123000694.html
The pre-market thread is now up on Reddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading today and rest of this week! https://www.reddit.com/r/StockMarket/comments/razfl0/127_tuesdays_premarket_stock_movers_news/
Morning Lineup - 12/7/21 - Strong Start With Nasdaq in the Lead Tue, Dec 7, 2021 Forget about a 'turnaround' for now, this Tuesday is looking more like a terrific one as US futures, led by the Nasdaq, are sharply higher following through on Monday's rally. The opening bell hasn't even rung yet, though, so there's plenty of time left in the day. That said, early indications are pointing higher with risk assets all trading higher, although long-term Treasury yields are moving much less higher than you would expect given the move in equity futures. Crypto assets are also in rally mode this morning as bitcoin is back above $50K, and ether is back above its 50-day moving average. In economic data, the revision to Non-Farm Productivity was lower than expected (-5.2% vs -4.7%) while Unit Labor Costs increased more than expected (9.6% vs 8.3%). The Russell is indicated to open more than 1.5% higher this morning continuing what has been a volatile run for the small-cap benchmark index. So far during this sell-off from a false breakout, IWM has managed to stay within its prior trading range after falling below both its 50 and 200-day moving averages. In addition to the consistency of much higher than average volume during the last seven trading days, IWM has also had an intraday trading range of more than 2% and averaging more than 3.3% during that span. The last time IWM experienced a run of 2%+ intraday ranges for seven consecutive trading days was back in July 2020.
haha ye. also, not sure if this happens still, but 'tis worth noting that the cash SPX is just a little over 30 handles or so from its "closing print" ATH. 4704 is the level there. should it close over that then would make it its 70th ATH close on the year i believe (just 7 shy of tying the all time record dating back to the height of the dot com blow off), and get this, would also make it 12 for 12 on the year closing at an ATH at least once for every single month of this year. That's only happened one other time in market history (in 2014). Pretty impressive if we see this. resilient markets are resilient! (feel like I've been saying that since basically off the GFC bottom lol). whatever the case may be that's mostly fueled this (for me its largely FED, but to each their own ofc.)
Wow what a massive rally today A little surprised but not complaining, I didn’t get in at the ideal entry for some volatile growth stocks and the rally today bails me out to be honest, I was expecting to hold the bags for awhile Haven’t bought anything today, just taking some profits off the table on some volatile growth stocks
That was a great call by @Frankenstein, I got in SPXL on Friday eod. Man ARKG is up 9% today, the beaten down stocks rally even harder than 3x leverage. I'm more comfortable in SPXL though. I think last week's low will hold for this month. I think we'll climb, and touch the top of the SPY/QQQ channels by March. We'll see, I don't think we got the ultimate flush yet. The Fear & Greed index just touched 20, but that seems to be all we'll get in 2020.
The semiconductor stocks dipped yesterday. SOXL is up 25% since that...if I was able to cherry pick the lows.
Basically we are having this continuous rotation into either value or growth instead of both value or growth collapsing together on the same day. As long as this trend continues, I guess we won't have a big time correction (10%) for the indices at least although people might still feel the pain when those high valuation growth stocks selling off
A major shift is underway at the Federal Reserve that could see a speedier end to its easy policies (cnbc.com) The market should start to price in the faster taper and maybe 2 rate hikes next year. If the CPI is hot this Friday and we don't see a big market collapse in the coming days then I guess the faster taper is a done deal. Will see whether the FED will spook the market next Wednesday
Omicron Variant: Pfizer Vaccine Provide Partial Protection in South Africa Study - Bloomberg Market off the highs. Not unusual to see people taking some profits when the market is up this much but maybe this headline has something to do with it too since the travel stocks are well off their highs of the day and some of them are actually in the red
Top of the morning Stockaholics! Happy Hump Day to all of you! And welcome to the new trading day and a frrrrrrrrrrrresh start! Here is a quick check on those futures as we are under 4 hours from the cash market open. GLTA on this Wednesday, December the 8th, 2021.
The pre-market thread is now up on Reddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading today and rest of this week! https://www.reddit.com/r/StockMarket/comments/rbraqb/128_wednesdays_premarket_stock_movers_news/
Morning Lineup - 12/8/21 - Booster Boost Wed, Dec 8, 2021 The pre-market tone for equities was flat to negative early, but a report from Pfizer (PFE) showing that three doses of its COVID vaccine were able to neutralize the Omicron variant sent futures notably higher. That boost has proved to be somewhat temporary, though, as futures have given up half of their earlier gains. With all the volatility we have had in the market lately, at this point, the most constructive activity we could see in markets today would be a quiet session for a change. Yesterday, the Russell 2000 had its 5th straight day of daily moves of more than 2%, and while the index traded back above its 200-DMA on an intraday basis, it wasn't able to hold on to those levels into the close. It's another light day of economic data today as the only report on the calendar is the JOLTS report at 10 AM. Economists are expecting to see total job openings in excess of 10 million. On the Wednesday before Thanksgiving, the VIX traded as high as 20.96 intraday before closing the session at 18.58. The following Friday, it spiked as high as 28.99 on the emergence of the Omicron variant and continued higher the following week hitting an intraday high of 35.32 last Friday. This week has been another story for volatility, though, as the VIX has been in retreat finishing the day yesterday at 21.82. While still well above where it closed on the Wednesday before Thanksgiving, the VIX is currently within a point of its intraday high on the day before Omicron entered the lexicon.
Growth outperforming second day in a row I am trimming down some high beta names, took advantage of the rally and sold names like MTTR, CRWD, NOW and FVRR, etc. for a little bit of profit Still a little scared to own too many high beta name ahead of the inflation data on Friday and the FED next Wednesday. Now that I am owning less high beta names, I will probably see them going up without me
