COVID cases are surging again in Europe, I hope I am wrong but my guess is that we will see cases going up here in the US too pretty soon, we will see whether the market will have a strong reaction if we see cases rising again, people might use it as an excuse to take profit. I guess we will probably know who will be the FED chair before the Thanksgiving, would be interesting to see how the market would react if Powell isn't reappointed but we shouldn't see too much damage even if Powell isn't appointed since Brainard is considered as a bigger dove than Powell
Here are the most anticipated earnings releases as well as the highest volatility earnings releases for next week courtesy of earnings whispers. And here is the market week ahead thread which is now up on Reddit for anyone looking for a quick read over this coming weekend: https://www.reddit.com/r/StockMarket/comments/qxtv2z/wall_street_week_ahead_for_the_trading_week/ Have yourself a splendid weekend folks, and a great holiday-shortened trading week ahead.
oh and btw, speaking of that "holiday-shortened trading week ahead". a quick reminder for next week. markets got a bit of a shortened trading week due to the gobble gobble day holiday on thursday. so for the first 3 trading days next week the markets will be trading on normal trading hours. but then for thursday (on the actual gobble gobble day) cash markets will be closed, while globex equity futures will trade until 1pm eastern time when they halt, before reopening at 6pm eastern that evening. then for friday (the day after gobble gobble day), cash market will close early at 1pm eastern and globex at 1:15pm eastern. until things return back to normal on sunday with globex opening at 6pm eastern. oh and if for some weird reason i couldn't get on to say this before then (i will be away for all of next week), i wish you all a very wonderful thanksgiving day holiday with your families and friends next week! for all the rest of y'all's who aren't celebrating, have yourself a wonderful short trading week. and will catch up with y'all's back at in here same bat time, same bat channel bright and early on monday (nov. 29th)!
Really? Peloton? Lucid? dont know anything about the other 3 but the first 2 are a joke and are going to leave a lot of people sad if they keep holding. Healthly people dont want to work out at home alone. It was a product produced for the pandemic that allowed people to remain in-shape while barred from the gyms but now that gyms are reopening Peloton is DOA.
Stocks I really like right now are TSLA, TREE (Lending Tree), ABT (Abbott Labs), NKE, and PLD (ProLogis)
Volatile day today, as the market tried to bounce but some sectors aren't done bottoming yet. Retail was strong; growth stocks as embodied by the ARK funds were weak. Funny thing is, the McClellan Oscillator is at a bottom so it is saying to BTFD. Look for a big reversal in VIX to signal that bottom....as the SPX is nearly 1% off of all time highs lol. Not all growth stocks are bad, the etf IVW is doing great. Growth continues to outperform value. It's just the "extreme growth" stocks that you find in the ARK funds are doing poorly. I wonder when they'll stop posting their moves every day? Woods says she has been doing it for transparency, but it is too easy for other hedge funds to target; they know where her entry price is, and they know if they can get a big enough draw down then investors will withdraw from her funds. Just a bad idea with no real positives. Profits are #1, transparency is #10, #2-9 is profits too.
ZM starting to dive after hours, but not falling apart (yet). Think this will get really red tomorrow.
I was hoping for a big flush today so we could get the Thanksgiving rally to end the week strong. Without a big flush, I worry about Monday taking back gains from a Thanksgiving bounce.
Right now I am guessing those beaten down growth stocks will get a bounce tomorrow, they were showing some signs of life toward the closing bell today but yeah I wouldn't be surprised to see the selloff next Monday if we get a big bounce tomorrow
A lot of retailers getting hit, JWN and GPS down big after hours while names like BBY, ANF and URBN getting hammered during the market hours
