Top of the morning Stockaholics! Happy Tuesday 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 Tuesday, May the 24th, 2022.
Morning Lineup - 5/24/22 - Anti-Social Media Tue, May 24, 2022 That rally lasted long. After bouncing from the last hour on Friday through yesterday, US stocks are set to open down by over 1% this morning following Snap's (SNAP) earnings warning and its comments regarding the weakening broader macroeconomic environment. Adding to the concerns regarding the economy, preliminary PMI readings out of Europe also came in lower than expected. The US versions of these reports will be released later this morning. Given these growth concerns, treasuries are rallying as the 10-year yield drops back down to 2.82%. Oil prices, however, are largely unchanged on the day. In today's Morning Lineup, we recap on the latest declines in the tech sector (pg 4), Asian and European markets (pg 4), COVID case numbers (pg 5), the latest economic data out of Asia and Europe (pg 5), and a lot more. After a 1.87% gain for the S&P 500 (SPY) yesterday, we're seeing the inverse of a "Turnaround Tuesday" this morning with SPY set to open lower by just over 1%. Since 1993 when SPY began trading, there have only been five prior instances in which SPY rose 1%+ on a Monday and then gapped lower by more than 1% the next morning. As shown below, SPY continued lower from the open to the close on four of the five prior Tuesdays, and one week from the Tuesday open, SPY was down all five times for an average decline of 2.3%. One step forward, two steps back.
The pre-market thread is now up on the r/StockMarket subreddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading on this Tuesday, May the 24th! https://www.reddit.com/r/StockMarket/comments/uwqj9y/524_tuesdays_premarket_stock_movers_news/ <- (click there to read!)
Ok. Tuesday morning. Good I got out yesterday. But, this morning, did a quick trade. Long at 3880 and out at 3920. I don't know what's going on, but wanting to manage risk and profit take. I want a deeper plunge though now that I'm completely out.
I was predicting a green week but if the reaction is bad after the earnings from NVDA tomorrow then probably another red week
Texas school shooting: At least 18 killed by active shooter in Uvalde (usatoday.com) Three shootings injure 21 outside Milwaukee Bucks arena around Game 6 loss to Boston Celtics (espn.com) NY Cancels History Exam Over Potential Trauma From Buffalo Shooting (insider.com) Las Vegas Taiwanese community saddened from Calif. shooting (ktnv.com) WTH, something is seriously wrong in this country, this is happening way too often
This is actually really terrifying news and even scaring the bejesus outta me enough that for like the first time, (maybe ever) I feel like I’m not totally safe from anything like a possible shootout from breaking out in the simplest things as just going out food shopping in a grocery store even. These are some very awful and discouraging news the past few days and weeks to say the least. Hopefully there is some letting up but I’m not sure sadly..
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 5 hours from the cash market open. GLTA on this Wednesday, May the 25th, 2022.
The pre-market thread is now up on the r/StockMarket subreddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading on this Wednesday, May the 25th! https://www.reddit.com/r/StockMarket/comments/uxg2a6/525_wednesdays_premarket_stock_movers_news/ <- (click there to read!)
Morning Lineup - 5/25/22 - Fixed Income Repairs Wed, May 25, 2022 On this day in 1935, Babe Ruth hit his last home run before retiring from the game about a week later. Ruth not only hit one home run that day, but he went four for four with three bombs and six RBIs. Like Ruth's advice in the above quote for when to quit the game, traders should take a similar approach and step back from the tape when the lines on the charts constantly go in the wrong direction. For traders biased to the long side, there's been a lot of that this year. Futures are lower again this morning as economic concerns weigh on sentiment and investors find little in the way of urgency to put money to work. The war in Ukraine shows no signs of easing, weekly mortgage applications showed no growth in purchase applications, and this morning's earnings warning from Dick's (DKS) suggests that the consumer may be catching a cold. It's a relatively quiet day on the economic calendar with Durable Goods (weaker than expected) and Energy Inventories the only reports on the calendar. Outside of DKS, which has already reported, the only major report on the calendar after the close is NVIDIA (NVDA). Semis had been showing some relative strength versus the market up until late last week, so this will be an important report to watch, although NVDA's high multiple relative to the market means that investors may not be willing to give it much leeway. In today's Morning Lineup, we recap on the latest earnings warning in the retail sector from DKS (pg 4), Asian and European markets (pg 4), group performance in the Eurozone (pg 5), the latest economic data out of Asia and Europe (pg 5), and a lot more. After the first four months of the year where fixed income performed just as poorly as equities, we've seen a bit of a rebound in the sector in recent weeks. Below is a snapshot of some major fixed income ETFs from our Trend Analyzer. Despite YTD declines for just about all of them, the last week has seen gains across the board. The majority of the ETFs are still below their 50-DMAs, but the fact that they've started to 'disconnect' from the performance of equities illustrates how investors are starting to worry more about the health of the economy than inflation.
^ ya i think i'm with you there as well frankenstein. oh and it will collapse non above 3900 again, and in fact will do so fairly meaningfully and bigly imo. just that nothing of course moves in straight lines for too long i suppose. so once this "oversold" ded cat is over and done with, we'll again be finding a new low print of this move (which should officially take us into "bear" market territory by that time as well ). hope you've been doing great btw frank! i always enjoy reading your posts in here whenever you chime in here. keep 'em coming as always.
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 over 3 hours from the cash market open. GLTA on this Thursday, May the 26th, 2022.
The pre-market thread is now up on the r/StockMarket subreddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading on this Thursday, May the 26th! https://www.reddit.com/r/StockMarket/comments/uy6ydj/526_thursdays_premarket_stock_movers_news/ <- (click there to read!)
Morning Lineup - 5/26/22 - Is it Real? Or is it Metaverse? Thu, May 26, 2022 We'll be honest, based on the way markets have been trading the last couple of months, we would have expected that if the 7th largest stock (NVIDIA) in the Nasdaq 100 was trading 5% lower in reaction to earnings, that futures for the index would also be lower. Right now, futures are actually trading about 0.4% higher. Is this real? In addition to the positive tone in futures, there's also some major M&A news with Broadcom (AVGO) reaching a deal to acquire VMware (VMW) in a cash and stock deal valued at $61 billion in what would be one of the largest tech mergers of all time. On the one hand, a bull would point to this transaction as a sign that companies are finding value in the market after the plunge over the last five months. On the other hand, as recently as February, VMW's stock was right around the $142.50 price the company agreed to sell itself at today, so does that indicate that management expects limited upside for the industry going forward? It's a big morning for economic data with revised GDP for Q1 (revised lower), Personal Consumption (higher than expected), PCE (lower than expected), and Jobless Claims (initial lower than expected, continuing higher) all just released at 8:30. Later on this morning, Pending Home Sales and the KC Fed manufacturing report will be released at 10 AM. In today's Morning Lineup, we recap morning earnings reports (pg 4), overnight central bank actions (pg 4), the latest economic data out of Asia and Europe (pg 5), and a lot more. The Energy sector hit another new 52-week high yesterday further cementing its lead as the top-performing sector in the S&P 500. Given the rally over the last year, it's pretty hard to believe that the Energy sector is still more than 10% below its record high back in 2014. Given the rally in Energy, the sector's relative strength has made a significant turnaround this year. After eight years of near-constant underperformance, the recent outperformance has taken its relative strength to levels not seen in three years.
What a great day. I needed a good trade to keep my profit margins strong. I managed to get in on the GameStop GME bullet, buying in yesterday at 112/sh and selling this morning at 135/sh. After selling I spread my money around between GOOGL, NKE, BLK, TSM, COLD, TREE, and I put money into JOBY following the FAA's approval for their commercial air taxi service. So, a couple blue-chips, 2 mid-risk, and 1 lotto pick hopeful unicorn. I will definitely be keeping a close eye on things tomorrow. Could take all my chips off the table to close the week and be happy with my +10% week.
