We might be getting the bounce to 200 sma before the drop below SPX 3700. I had assumed we would drop first, since we were already down here. Some ARK names looking good (SQ, TWLO, U)
Top of the morning Stockaholics! Happy Friday to you all! And welcome to the final trading day of the week and a fresh start. Here is a quick check on those futures as we are just under 3 hours from the cash market open. GLTA on this Friday, June the 24th, 2022.
Morning Lineup - 6/24/22 - Two For Twelve Fri, Jun 24, 2022 This week marks the 12th and final full week of the second quarter and barring a calamitous reversal from pre-market levels, it will be just the second positive full week of trading during Q2. That's how bad of a quarter Q2 has been. Gains this quarter have been awfully hard to come by. Futures are looking to finish off what has already been a positive week on an up note, but in order to stay there, we'll have to get through the Michigan Confidence and New Home Sales reports at 10 AM. The Michigan Confidence report will be an update to the preliminary reading that was released two weeks ago and came in at the lowest level in the history of the survey dating back to 1978. It's hard to imagine that report getting any worse. It's been a rough few weeks for copper as yesterday's 5%+ decline capped off its worst five and ten-day declines since March 2020 at the depths of the COVID crash. With the title of doctor, copper's performance is often considered to be a good gauge of the economy's health, so the recent declines naturally raise economic concerns. The chart below shows the historical 10-day rate of change in copper going back to 1981. During that span, there have only been seven other periods where copper declined 20% or more in a ten-day span, and as mentioned above, the most recent was during the original COVID lockdowns. There were also similar or larger declines during the Financial Crisis recession and the recessions of the early 1980s (not quite 20%) and early 1990s. While large short-term declines in copper did occur during four of the last five recessions, there were also a number of other large declines that occurred outside of recessions (1986, 1987, 2011, and 2018). Large short-term declines in the price of copper have often occurred during recessions, but they aren't exclusive to recessions.
A nice week for the bulls finally Commodity prices seem to be trending lower now and it could help to ease inflation a little bit. See you all again next Monday
Gooooooooood Friday evening and a happy start to the weekend to all! The market week ahead thread is now up on Reddit for anyone looking for a quick read over this coming weekend: https://www.reddit.com/r/StockMarket/comments/vjyraj/wall_street_week_ahead_for_the_trading_week/ Next week's most anticipated earnings calendar from EW has yet to be published. Check back in here sometime over this weekend as I'll be adding the calendar as a new post here once it is officially out (typically on Saturday morning). In the meantime, here are some of the the highest vol earnings for next week. Have yourself an absolutely splendid weekend ahead y'all's! And here's to another crazy awesome trading in the new week. Get that moola! Will catch up with y'all's same bat time, same bat channel bright and early in the AM on Monday. Cheers!
I think we are in for another rough week. I am definitely pulling my chips off the table. Things are going to start getting ugly here soon. At first, inflation was just eating away at peoples' savings and/or income. Now people are using credit to cover inflation. Couple of months and that credit space is going to be gone, the labor market is supposedly tightening (I am not seeing that yet), and people are going to start losing and hurting. A lot. Powell didnt come out and say it, but he knows that in order for the overall market and economy to correct themselves, A LOT of people are going to have to hurt and suffer. That "Hurt and Suffer," time is coming soon.
Top of the morning Stockaholics! Happy Monday to you all! And welcome to the new trading week and a frrrrrrrrrrrrrrrrresh start. Here is a quick check on those futures as we are just under 3 hours from the cash market open. GLTA on this Monday, June the 27th, 2022.
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 Monday, June the 27th, 2022! https://www.reddit.com/r/StockMarket/comments/vluawy/627_mondays_premarket_stock_movers_news/
Morning Lineup - 6/27/22 - Two Minute Warning Mon, Jun 27, 2022 Bulls finally caught a break last week with the S&P 500 up well over 5%, and they'll be looking to finish up the quarter on a positive note as we head into the end of the first half. The bears are still comfortably in the lead heading into the half, but a late 'field goal' or even 'touchdown' for the bulls in the final days would make things look a little more respectable to kick off the second half. Futures are higher this morning but have been drifting as the opening bell approaches and treasury yields rise as the 10-year trades back near 3.2%. Investors continue to be tossed around by moves in the treasury market as market rallies tend to push yields higher and eventually to levels that cause angst on the part of equity investors. Durable Goods orders were just released and came in higher than expected, while later on, we'll get updates to Pending Home Sales (10:00 AM Eastern) and the Dallas Fed report for June (10.:30). On the earnings front, we'll hear from Jefferies (JEF) and Nike (NKE) after the close. With gains of over 6%, last week was a very good one for US equities. Good, that is for every sector except Energy. Sectors leading the rally included Consumer Discretionary, Health Care, and Real Estate, but Technology and Utilities also outperformed. Despite the big gains last week, all five sectors are still in the red YTD, and only Health Care is above its 50-day moving average (DMA). Ironically enough, Energy was the only sector down on the week and is the furthest below its 50-DMA, but it is also the only sector up YTD and with a gain of over 30% it's leaving the other ten sectors in its dust. Speaking of the Energy sector, while it has easily been the best performing sector over the last year, the last week of the month has been routinely weak for the Energy sector. As shown in the chart below, over the last year, the sector has underperformed the S&P 500 in the last week of the month ten out of twelve times with a median margin of 2.5 percentage points in underperformance. Energy has been a high octane sector lately, but it hasn't had much in the way of endurance on a month-to-month basis.
GBIO: $6.70 - makes generic version of "abortion pill" - FDA approved. Only one other "Danco" based in Far East. Biden and DOJ clearing the way for buying through the mail. https://thehill.com/policy/healthca...s-to-abortion-pills-contraception-and-travel/
A red day to start the week, maybe we will see less volatility this week with the long weekend coming up?
Stockpile Transitioning to Paid Membership | Stockpile Help Center Starting July 15, 2022, Stockpile will only be available through a paid membership service. I’m a current customer. Is there a special membership offer for me? Yes, there is, but it’s only available for a limited time! The lifetime membership offer for current customers is available now for $19.95 through the end of June 2022. Each lifetime membership includes 1 adult brokerage account and up to 5 kids brokerage accounts. (When children reach the age of majority, they will still be able to keep their lifetime Stockpile access!) It will begin July 15, 2022 for all customers. That’s also when all current customers who did not reserve the lifetime membership offer will be automatically enrolled in the monthly membership at the regular price of $4.95 if no other action is taken. WTH I don't use it to trade since it doesn't even offer live trading but I use it to send out stocks as gifts to friends and family who don't have much time to research for their own investments. Now I have to tell them either sell all of their stocks and close their account or they have to pay $19.95 to keep their account and their stocks, obviously $4.95 per month is not the option for most people
Top of the morning Stockaholics! Happy Tuesday to you all! And welcome to the new trading day and a frrrrrrrrrrrrrrrrresh start. Here is a quick check on those futures as we are just over 2 hours from the cash market open. GLTA on this Tuesday, June the 28th, 2022.
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, June the 28th, 2022! https://www.reddit.com/r/StockMarket/comments/vmlv5n/628_tuesdays_premarket_stock_movers_news/
Morning Lineup - 6/28/22 - Stocks, Oil, and Yields All Higher Tue, Jun 28, 2022 Just like yesterday, futures are higher this morning but off their highs from earlier this morning. Surprisingly, the rally has been accompanied by rising oil prices and higher treasury yields, but news that China has cut the required quarantine time for incoming travelers in half has investors optimistic that the country may further loosen its zero-COVID policy. Hopefully the outcome today is better than yesterday. In economic news, Wholesale Inventories rose 2.0% which was below consensus forecasts but the level still remain elevated relative to history with May being the fourth straight month of 2% readings or higher. Despite strength this morning, commodities have succumbed to profit-taking recently, and the majority of the ETFs tied to the sector have seen declines over the last week. Leading the way to the downside, Natural Gas (UNG) and the DB Agriculture Fund (DBA) have seen declines of over 5% in just the last week putting them into oversold levels. While the weakness in commodities has been a welcome development and sparked optimism that inflation pressures may finally be starting to roll over, the majority of these same ETFs are still up sharply YTD. UNG is up over 77% YTD even after the 6.6% decline in the last week, while the Commodity Total Return ETN (DJP) still sits on a gain of over 25%. In order for investors to really be confident that commodity price pressures have really turned the corner, we'll need to see the weakness that has characterized the end of the quarter follow through into the second half.
Are stocks closed on Friday and Monday? edit: I just remembered the market cannot be closed 4 days in a row. Guess it is just closed on Monday. Full day on Friday?
I'll be taking all those gains plus some more. They buy the dip and we keep it dipping. Thanks joe. Your friend, Wall Street.
