Lol, stonks only go up. All the rising mentions of NVDA and AMD on WSB make me want to add to my positions here. (Next rocket emoji to the moon emoji?) Thanks for sharing, Chris.
^ this no stop 'till at least spoos 4k! looks like the majors are coming off their earlier AM highs just a bit here though, finally...
i think discord has a rocket emoji right? edit: yup. something like this would be kinda useful to have here maybe lol
LMT is absolutely on sale right now. Government contractor. Reliable dividend. High-end tech company that intersects industrials. You'd be crazy to not be holding that when it's on fire, let alone right now. Great, great company and great stock.
Nikkei topped 30,000 for first time in 3 decades or something. Oil back above $60. Why is the Nikkei strong today?
China's box office is having a better Lunar New Year than before Covid Chinese cinemas are back in business and selling even more tickets than before the pandemic. The increase gives China another lift after it overtook the United States to become the world's top movie market last year. China's box office took in about 4.5 billion yuan ($697 million) over the weekend, which included the first three days of the festivities, according to the latest available data from Chinese ticketing platform Maoyan. That represents a 33% jump compared to the same period in 2019, noted analysts at Citi. China's box office is off to a "surprisingly strong start," they wrote in a research note Tuesday, adding that the uptick showed that "demand for movies in physical theaters remains healthy, especially considering the restriction of occupancy rate at 75% still persists [in some cities]." https://www.cnn.com/2021/02/16/media/china-box-office-lunar-new-year-intl-hnk/index.html Get ready for more Chinese characters in your movies.
We did fill the gap... and then some. Seems to go back to green now. Marcy, the FT writes that the Nikkei is up so much because the recovery in Japan is stronger than previously thought. (Here's the link. The article is behind their paywall though. If you want, I can message you a "gift link". We have a subscription to the FT at the law firm I work for.)
Commodity and materials having a great day. Banks doing well while homebuilders and high valuation tech stocks are underperforming due to rising interest rates. If rates keep rising then I guess people will talk about rotation into value from growth again
vix sure doesn't like the teens eh past 3 down days on the spx have been of -0.11% or less. still thinking 4k will be the ceiling on the spx for the short to medium term imo.
I dont dwell on futures much. Like boxing the real action starts when the bell rings and the battle begins. The HFTs and the ALTHOs versus retail is what I watch.
Morning Lineup - 2/17/21 - Trends Come and Go Wed, Feb 17, 2021 Futures are little changed this morning, but that could change over the next 90 minutes as there's a big slug of economic data on the calendar. Its starts with PPI and Retail Sales, which were just released. Both of these reports were gargantuan. Headline PPI came in at 1.3%, which was more than three times consensus expectations and the largest m/m increase in over ten years. Retail Sales were also much stronger than expectations. While economists were expecting the headline reading to rebound to 1.1% after three weaker than expected readings, the actual reading came in at 5.3%. Consumers were clearly ready to spend to start the year. When it comes to economic data, that's not all either. At 9:15 eastern, we'll get the latest updates on Industrial Production and Capacity Utilization, followed by Homebuilder sentiment at 10 AM. It may have just seemed like a late summer day at the time, but September 2, 2020 was a notable day for the market as it represented the beginning of the longest period of consolidation for the current bull market so far. After a solid and steady rally off the March lows, the S&P 500 traded in a sideways pattern for the next several weeks and didn't make a new high for more than two months. While the market ultimately resumed its winning ways, as we all know now, the character of the rally changed considerably. The chart below shows the performance of S&P 500 stocks from the close on 2/19/20 through 9/2/20. The x-axis of the chart is sorted by market cap with the largest stocks as of 2/19/20 all the way to the left, and as you move to the right, market caps get progressively smaller. During the 6.5 month stretch from 2/19/20 through 9/2 it was the mega-cap stocks that led the rally. While the 'average' stock was down 2.5% during that span, the five largest stocks in the S&P 500 (red bars) were among the best performers averaging a gain of 40.1% and ranking an average of 48 out of 500 in terms of performance. Since 9/2, though, performance has changed considerably. While the 'average' stock is up 20.2% during this period, the same five stocks that led the market from 2/19 through 9/2 are barely higher, averaging a gain of 3.1% and ranking an average of 353 out of 500 in terms of performance. Another way to illustrate the changing characteristics of performance since 9/2/20 based on market cap, the chart below shows the rolling 50-stock average performance based on market cap from 2/19/20 through 9/2/20 (red line) while the blue line shows the performance of these same stocks from 9/2 through 2/16. In each line, the left-most point shows the average performance of the 50 largest stocks in the S&P 500 (a/o 2/19/20) while the next point represents the average of stocks 2 through 51 and then all the way down the line. Looking at the period from 2/19 through 9/2 (red line), the fifty largest stocks in the S&P 500 were among the best performing group of 50 stocks in the S&P 500 while the smallest stocks were among the worst performers. Since then (blue line), we've seen the complete opposite pattern play out as the 50 largest stocks in the S&P 500 have been the worst performers relative to every other rolling 50-stock group while the 50 smallest stocks have practically been the best performers. At the time, September 2nd didn't seem like an especially remarkable day in the market, but it represented a long-term shift in the performance of mega-caps relative to the rest of the market.
man, that black gold almost to $61 here ... i was constructive on oil going into this year, but not this constructive lol. i was looking for $60 closer to the end of the year. but admittedly didn't even think that would materialize tbh. we've basically recouped the entire covid crash and then some. and are now looking to challenge the post-iran conflict jan. '20 high. pretty impressive move, and for me this has been by far the biggest surprise of all in 2021 thus far.
Still got some legs. Texas is offline due to the blackout. Pipeline shutdown etc. Opec can trim the supply and here we go.
