Yeah I've got to watch if the market turns down tomorrow. I opened some long positions today, but still am not full bull. I don't like that /NQ left the overnight low untouched in regular hours. And the bounce today only went to a double top. Just had to get some long positions open...it is tough in this high volatility market to be reactive.
Top of the morning Stockaholics! Happy Hump Day to you all! And welcome to the new trading day and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are a little under 3 hours from the cash market open. GLTA on this Wednesday, May the 11th, 2022.
btw here are the consensus #'s for those lookin' round for it. should be interesting to see how the market digests these figures today.
Morning Lineup - 5/11/22 - The Most Important CPI Report Ever Wed, May 11, 2022 The hype surrounding today's CPI report has reached levels we don't know if we've ever seen for another similar report. Whether it comes in much better or worse than expected, we can pretty much guarantee that like every other report that gets so hyped up, no one will even remember it a few days from now. Outside of the CPI report, energy inventories will be released at 10:30, and given some of the concerns regarding diesel supplies, this report has the potential to be a market mover. After a back and forth session yesterday, futures are higher again this morning but whether these gains hold or not will largely depend on how CPI comes in relative to expectations. The rally in US futures comes on the heels of a 1%+ rally in major European markets even after German CPI increased at its fastest year/year pace since 1974 (7.4% which was in line with expectations). Heading into today's CPI report, treasury yields are lower across the curve, the dollar is lower and WTI is up over 4% and back above $100 to $104 per barrel. In today's Morning Lineup, we recap the recent developments in stablecoins (pg 4), overnight earnings (pg 4), Chinese CPI (pg 5), and a lot more. Inflation running at multi-year highs for the last several months should surprise no one. What sticks out to us is the fact that economists have been so behind the curve in catching up to it. The chart below shows the 24-month rolling number of monthly headline CPI reports coming in lower than expected. Leading up to today's report, just three headline CPI reports in the last 24 months surprised to the downside, and the last weaker than expected report was all the way back in September. Before that, you have to go back to the October 2020 report. The current rolling 24-month total of three ranks as the lowest number of weaker than expected reports since at least 2000. There's been no shortage of criticism for the Federal Reserve and how it has failed to get ahead of the surge in inflation, but economists haven't fared much better.
Other than the brief pump earlier in the session, my thinking that the market is going up on peaked inflation today isn't panning out The CPI is high and even if inflation has peaked we are still pretty long way from inflation back to the comfortable levels. Bear market rally can be violent but I feel like it probably is the short the pop market until inflation starts to slow down a lot, Q1 GDP was negative too so we might be a lot closer to a recession than people are thinking
SARK up 10% for the day, I am now up 88% for my position after buying at $41.13 in January, wish I bought more
The NASDAQ getting close to 30% off from its ATH now Not sure how much worse it was when the pandemic hit the market, probably not that much worse and we had QE to save the market back then
Yeah we're going lower, but I think we found the low for this week. Gotta watch out both ways when volatility is high.
The VIX actually went down today How many times in history has that happened when the Nasdaq was -3%?
Top of the morning Stockaholics! Happy Thursday to you all! And welcome to the new trading day and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are a little under 10 minutes from the cash market open. GLTA on this Thursday, May the 12th, 2022.
Morning Lineup - Down: What Else is New? Thu, May 12, 2022 Today, the futures aren't even attempting to sucker traders in with a rally, so maybe today, we'll actually get a bounce. Treasuries are continuing to rally again this morning, while crude oil trades modestly lower and crypto plunges. Overnight, China pledged further support to its economy. On the geopolitical front, Finland has said it is preparing to apply for membership in NATO, and Russia has responded by threatening retaliatory steps of both military and 'other' measures. We just got a chunk of economic data in the form of PPI and jobless claims. In terms of PPI. headline CPI was in line with forecasts at a m/m gain of 0.5%. Core PPI rose much less than expected at 0.4% vs 0.7%, but data for March was revised higher. In terms of jobless claims, initial claims came in 10K higher than expected 203K vs 193K while continuing claims showed another drop falling to 1.343 million versus forecasts for 1.372 million. Equity futures have seen little in the way of a reaction to the news while treasury yields remain lower. In today's Morning Lineup, we recap the recent developments in the crypto space (pg 4), overnight earnings (pg 5), economic data out of Europe (pg 6), and a lot more. The year is barely more than a third over, but already the Nasdaq has had 24 different over the course of just 90 trading days. That works out to more than once a week! Again, we still have nearly two-thirds of the year left ahead of us, but already, the number of 2%+ daily declines this year ranks as the 8th highest in the Nasdaq’s history. The only years that were higher were 1999, 2000, 2001, 2002, 2008, 2009, and 2020. If, and this is a big if, the current pace of 2% declines continues, 2022 wouldn’t quite catch 2000 for the record number of 2% declines in a single year, but it would be a close second.
That was a pretty strong bounce into the closing bell, let's see if the bounce will continue tomorrow Some ARK/growth names actually have acted pretty well all day long even before the DOW/NASDAQ/SPX began to bounce, those names are beaten down very badly and I wouldn't be surprised to see some short term bounce in them
Affirm stock climbs higher after third-quarter revenue beat (yahoo.com) Robinhood shares pop more than 30% after Sam Bankman-Fried buys 7.6% stake (cnbc.com) Some rare good news for the ARK/growth names after hours too, maybe they can have another good day tomorrow
Top of the morning Stockaholics! Happy Friday to you all! And welcome to the final trading day of the week and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are a little under 90 minutes from the cash market open. GLTA on this Friday, May the 13th, 2022.
Morning Lineup - 5/13/22 - Six in a Row Fri, May 13, 2022 Futures are higher this morning, so the only question investors have at the moment is, what time does the sell-off begin? Treasury yields are sharply higher across the board this morning as the 10-year yield is back above 2.9%. Crude oil is up over 1%, while gold declines to around $1,800 per ounce. In the crypto space, we've seen some stabilization as bitcoin is trading back above $30K. On the COVID front, there are some signs that Shanghai will start lifting its lockdown measures at the end of next week, and the government has also denied rumors that similar lockdowns are in store for Beijing. There was some good news on the economic front as Import Prices were unchanged versus expectations for an increase of 0.6%. The only other report on the calendar is the Michigan Sentiment at 10 AM. In today's Morning Lineup, we recap the continued developments in the crypto space (pg 4), overnight economic data out of China and Europe (pg 5), and a lot more. Barring an epic rally on the final trading day of the week, both the S&P 500 and Nasdaq will put in their sixth straight week of losses today. In the case of both the S&P 500 and Nasdaq, it will be tied with four other periods for the longest weekly losing streak since 2001. Below we show historical weekly losing streaks for the Nasdaq since 1971. While there have been a number of streaks that have been as long, just five have been longer, and only one (1973) lasted longer than seven weeks. Even more notable than the fact that the Nasdaq has been down for six weeks in a row is the fact that every down week in the last six has been a decline of at least 1.5%. In the Nasdaq's entire history, there have only been four other periods where the Nasdaq was down for six or more straight weeks and every one of those weeks was a decline of at least 1%. Three (1973, 1980, and 2001) lasted seven weeks, while the streak in 1990 lasted six weeks. In the Nasdaq's history, losing streaks of this magnitude have been extremely uncommon.
Have a good weekend guys, hope you guys made some nice money this week Happy that we had a big green day and I could get out of some long positions with some profits, also added RWM just before the closing bell since I am still doubtful that the lows are in for the market, let's see if this rally can continue next Monday though since the bear market rally can be pretty violent too
