Stagflation On Deck: Atlanta Fed Cuts Q1 GDP To 0.0% | ZeroHedge Oil now well above of $100s, could be a disaster if we have no growth and high inflation
Top of the morning Stockaholics! Happy Hump Day to all of you! And welcome to the new trading day and a frrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are just under 30 minutes from the cash market open. GLTA on this Wednesday, March the 2nd, 2022. (sorry bit of a late start for me this AM!)
Morning Lineup - 3/2/22 - "Crisis Mode" Wed, Mar 2, 2022 Futures are looking to bounce back from yesterday's weakness, but it's still early and there are a lot of events on the horizon for today. St. Louis Fed President James Bullard will be speaking right at the open and then a half-hour later, Fed Chair Powell will be testifying in front of a House Panel. Then at 2 PM, we'll get the release of the Fed's Beige Book. The only economic indicator of note today was the ADP Private Payrolls report which came in higher than expected. More noteworthy, though, was the 800K positive revision to last month's report. News on the Russia-Ukraine front has been relatively quiet. Nothing much new to speak of, but the Russian shelling of Ukrainian targets has continued. Yesterday, we highlighted the fact that the Nasdaq 100 has traded in an intraday range of over 1% every day this year. Yesterday, another shorter but pretty incredible streak also came to an end as it was the first time since 2/18 that QQQ was not up and down at least 0.5% in the same trading session. Swings from intraday gains of at least 0.5% to intraday losses of 0.5% (or in the opposite order) on an intraday basis indicate a volatile session, and five trading days in a row indicates extreme volatility and uncertainty. The chart below shows historical streaks where QQQ saw intraday gains and losses of 0.5% in the same trading session. At five trading days, the streak that just ended is tied for the longest since February 2008 (six trading days), but it was well off the record of 18 trading days back in October 2000 – a period where there were multiple streaks with 0.5% intraday swings between gains and losses. Looking at all the dates shown, though, the thing that stands out is that these types of streaks aren’t common, and they have only been seen during periods where the market was in a period of varying degrees of crisis.
Energy and commodity remain red hot Oil, gas, aluminum and coal, etc. all doing great. Might get in SCO end of the day for a small gamble Banks rebounding a little bit, JPM actually hit 52 week lows yesterday
@stock1234 I added to my SCO position today; it is now 3% of my trading portfolio with a basis of 7.30 -- I'm also in JPM, but it is only 1% of my portfolio with a basis at 135.47
Top of the morning Stockaholics! Happy Thursday to all of you! And welcome to the new trading day and a frrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are 2 hours from the cash market open. GLTA on this Thursday, March the 3rd, 2022.
Morning Lineup - 3/3/22 - Is This Thing On? Thu, Mar 3, 2022 After a seemingly endless run of days where the futures indicated big moves at the opening bell, this morning, futures on all of the major averages are very little changed fluctuating on either side of unchanged. Even bitcoin is flat on the day! It's not like there is a lack of potential catalysts, though. We have weekly jobless claims at 8:30, and then at 10, we'll get the latest reads on Services PMI, Factory Orders, and Durables Goods. Also, don't forget about Powell's testimony at 10 AM, and continued developments out of Ukraine.. Jobless claims were just released, and while initial claims were expected to come in at a level of about 230K, the actual reading came in at 215K. Continuing claims were forecast to drop to around 1.44 million, and that reading came in higher than expected rising to 1.476 million which was unchanged from last week. With little change in the futures this morning, we thought this would be a good time to take a look at the technical picture for the major US indices. While yesterday's bounce was welcome, it did little to improve the downtrends in the major averages. The S&P 500 tracking ETF (SPY) hit a two-week high yesterday, which is less common this year than hitting record highs was last year. Despite the gains, though, the index has yet to even test its downtrend or 200-DMA which doesn't come into play until around 4,450 on the index and about 445 for the ETF.
Hmmm. The SPX seemed to have bullish momentum yesterday. But, now it's at 4350. But, not interested. 4200 to 4300 is a better value for a long entry. I'd really like to see a visit to that 4100 area though. But, who knows. I'd expect the SPX to be in that 4400 to 4600 level, if not that 4600 to 4800 level. But it's not. So, something is not acting right vis a vis what used to happen pre 2022.
I got in DRIP before the close yesterday, took a 2% profit since I don't want to hold the leveraged ETF for too long. Good luck on your SCO position, the risk reward to bet bearish on oil is pretty good IMO whenever oil is above of $110s and I will try to enter either SCO or DRIP again if oil prices move sharply higher again in short period of time Your entry for JPM is much better than me lol, my average is $148.38, it is more of a dividend and longer term play for me so I will just hold for awhile
Well, the ARK funds have been red lol. QQQ made a death cross yesterday, still below the 20 sma. Seeing when it breaks above that.
Interesting thought -- but it is unclear to me why gold would be considered a viable alternative. If a global "coalition of the willing" can cut you off &/or otherwise block you from interacting across other financial mediums, why could it not do the same with gold? The fundamental issue will still remain: who are you going to sell your gold too...and...will those few people be able to handle the scale in which you'll have to sell to them? https://www.intellasia.net/gold-will-soar-as-china-seeks-us-dollar-alternatives-1024480
SPX and ES are not behaving right--the SPX, for example, should be at 4500 or even 4600 by now but it's struggling with 4400 and even 4350.
Top of the morning Stockaholics! Happy Friday to all of you! And welcome to the final trading day of this week and a frrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are less than an hour from the cash market open. GLTA on this Friday, March the 4th, 2022.
Morning Lineup - 3/4/22 - The Least Important Jobs Report in Years Fri, Mar 4, 2022 Every month at about this time, the financial world stops everything to focus on what is often considered the most important jobs report in years. Today's employment report looks like an exception, though. With Fed Chair Powell already telling the markets that March's meeting will come with a 25 bps rate hike, the Russia Ukraine war intensifying, and commodity prices spiraling out of control, today's report could be the least important jobs report in years. Futures are sharply lower this morning following a big sell-off in Europe as war tensions escalate. The big headline last night was news of Russia attacking and seizing control of Europe's largest nuclear power plant. While initial concerns of a nuclear accident have subsided, investors are coming to a realization that the longer this all drags on, the more damaging to the global economy it all becomes. European benchmark indices are currently down over 3%, while US futures are down about 1%. Rising commodity prices have been the most direct impact of the Russia-Ukraine war, and crude oil is the most concrete example. Through this morning, WTI crude oil is up just over 20% on the week, and if these gains hold through the end of the day, it w We're at the ould be just one of four other periods where crude rallied more than 20% in a week. In 1998, it got close to 20% but came up just short. We're at the point now where prices at the pump are higher on the way home from work than on the way in.
