I'd recommend against 'going heavy' into any one-or-group of names right now...take nibbles...bit-by-bit. In times like this when the bottom is not firmly set, it will lead to a better cost basis, and more importantly, prevent all of your eggs being in just one-or-a-few baskets. Just my 2-cents...and given today's inflation, ain't even worth that much anymore!
Tomorrow I'll be looking on the short side at WELL & PWR...and on the long side at TTWO & MCO Really liking the overnight action on oil as well. If sub-100 holds into the open, I will set a trailing stop on my CVX option play...and I'll let USO & SCO run longer.
Top of the morning Stockaholics! Happy Tuesday to all of you! And welcome to the new trading day and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are about 3 hours from the cash market open. GLTA on this Tuesday, March the 15h, 2022.
Morning Lineup - 3/15/22 - Round Trip Tue, Mar 15, 2022 Equity prices are recovering off early lows as commodity prices, especially oil, plummet. The cause of the decline could be attributed to either concern over weaker demand as the latest COVID wave washes ashore in China, or optimism over the war in Ukraine and the potential for a ceasefire. Those are two very different catalysts and would both have very different implications for the market and global economy as well. In economic data, February PPI was just released and it came in weaker than expected at both the headline and core levels. Core PPI came in at just 0.2% which was tied for the lowest reading since the end of 2020. While inflation data was weaker than expected, Empire Manufacturing was a disappointment falling 11.8 versus expectations for a level of 6.8. That March reading for Empire Manufacturing was the weakest since May 2020. What a month it has been for crude oil. After finishing off February at a level of $95.72, WTI rallied nearly 30% on a closing basis and over 35% on an intraday basis in the span of just over a week. After hitting that multi-year high just a week ago, crude oil has practically round-tripped its entire early March gain, falling more than 22%. If these levels hold through the end of the day, it would rank as the largest decline from a 52-week high in the span of a week or less for WTI on record! Now, if prices at the pump would only reverse that quickly.
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 on this Tuesday, March 15th! https://www.reddit.com/r/StockMarket/comments/teo28n/315_tuesdays_premarket_stock_movers_news/
What's going on with VXX? Spiked over 40, yet market is green. edit: This is probably it. https://www.reddit.com/r/wallstreetbets/comments/teipbx/vxx_or_opportunity_of_a_lifetime/
Totally out at SPX 4225 for risk management and profit taking--again, this environment is too volatile. I had entered yesterday at SPX 4170.
March 8 was lowest close for SPY and DIA. Also the worst of things for oil, the yield curve, and gold (if you believe gold is inverse to stocks, that is). Tech/Growth/ARK funds bouncing from yesterday's low. We'll see what happens tomorrow with the Fed day.
Not sure if we have hit the bottom quite yet but I decided to jump back into the game with mainly big-name/dividend stocks; ALLY, PYPL, AMZN, TSLA, FB, KKR, and CRWD. One Growth-Stock that I REALLY like and will look to add potentially is BROS, Dutch Bros., I really like their company model and future strategy plans.
Also on my WatchList; HON- Honeywell YETI- Yeti HAS- Hasbro PTON- Peloton, PTON* has been beaten down but if they could land a contract with a national chain like Planet Fitness, Watch Out! to me that should be their strategy. Focus on getting into Gyms and turn fitness into more of an interactive game where Gyms and people can compete. I wish I worked there, I would be all over it. YOU- Clear Secure C- Citigroup NKE- Nike *Really like the price Nike is currently trading at Think my next 150$ is going to (1) NKE, (1) PTON
I jumped into NKE today with a 1/2 position; hit a major support level yesterday & it held up again today. My basis is $118.44 right now. If I get a chance to add to the position, then my targets will be around $133 and $150 respectively. If I can't get another tranche, then I'll set a loose trailing stop at $133 and see how it goes.
Top of the morning Stockaholics! Happy FOMC Announcement Day to all of you! And welcome to the new trading day and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are about 4 hours from the cash market open. GLTA on this Wednesday, March the 16th, 2022.
REMINDER: FOMC Announcement is @ 2pm eastern time today, with JP's presser roughly 30 minutes after that.
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 on this Wednesday, March 16th! https://www.reddit.com/r/StockMarket/comments/tfg9lm/316_wednesdays_premarket_stock_movers_news/
Morning Lineup - 3/16/22 - Move Over Fed Put, Hello Daylight Savings Time Wed, Mar 16, 2022 Global equities are surging this morning following yesterday's rally in the US. In Asia, Chinese and Hong Kong stocks surged following some policy changes from the Chinese government and positive comments related to overseas listings of ADRs. Led higher by tech, the Hang Seng was up over 9%, but to put that rally in some perspective, the index is still down 2.5% over the last week. That's how oversold Hong Kong was heading into the session! We've got a busy slate of data on the docket today with Retail Sales, Import Prices, Business Inventories, and Homebuilder sentiment all coming out between 8:30 and 10:00 AM. Retail Sales were weaker than expected across the board with the ex Autos and Gas reading actually declining. One silver lining was that January's reading was revised higher. Import Prices, however, also came in weaker than expected on both a m/m and y/y basis. As if that wasn't enough, the Fed will announce its first rate hike at 2 PM and then Chair Powell will hold a press conference at 2:30. And as has been the trend during his tenure, when the Fed Chair speaks, people sell. Also, don't forget, Ukrainian President Zelenskyy will address Congress at 9 AM Eastern. It's going to be a busy day! Yesterday, the Senate approved a bill to make Daylight Savings Time a permanent feature beginning in 2023. Obviously, the most important thing to consider when a change like this is made, is what will the impact be on the market? To answer that question, in the table below, we calculated the performance of the S&P 500 during Daylight Savings time (DST) and Standard time going back to 2007 when the start of DST was moved to early March. For each year, DST performance shows the S&P 500’s change from the March start through the November end while the Standard time performance shows the change from the start of Standard time in November through the beginning of DST in the following year. Overall, the S&P 500’s average and median performance during DST has been a gain of 7.5% with positive returns 80% of the time. During Standard time, the S&P 500’s average performance has only been a gain of 2.01% (median: +6.4%) with gains two-thirds of the time. Overall, the S&P 500’s performance during DST is an average of more than 5 percentage points better than its performance during Standard time, and on a cumulative basis, the S&P 500 is up more than 154.8% during DST compared to a gain of just 20.0% during Standard time. If that isn’t reason enough to keep Daylight Savings Time permanent, we don’t know what is! Move over ‘Fed Put’ hello Permanent Daylight Savings Time.
