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Stock Market Today: February 18th - 22nd, 2019

Discussion in 'Stock Market Today' started by bigbear0083, Feb 15, 2019.

  1. bigbear0083

    bigbear0083 Content Manager
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    not really sure how much this significance this holds, but found it a bit interesting in my daily reads this afternoon.

    so evidently the nyse a/d line made a new ATH yesterday. supposedly this a good sign as market breadth tends to lead stock prices, as breadth breaks down ahead of major market peaks.

    perhaps giving credence that this raging bull ain't done yet, no matter what the reasons are, FED etc. :p

    [​IMG]
     
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  2. bigbear0083

    bigbear0083 Content Manager
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    holy crap i just noticed that this here is exactly my 15,000th post haha :eek::p
     
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  3. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Congrats Cy :cool: Thanks for your contribution here everyday, a lot of useful information for the market :cool:
     
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  4. bigbear0083

    bigbear0083 Content Manager
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    haha, i think so too

    and i just saw a stat as i was doing my end of day recap here that shows this now being the best start to a year for the SPX since '91 :eek:
     
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  5. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    bigbear0083 likes this.
  6. bigbear0083

    bigbear0083 Content Manager
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  7. bigbear0083

    bigbear0083 Content Manager
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    Good Thursday morning to all.

    Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open-
    [​IMG] <-- click there to read!
     
  8. bigbear0083

    bigbear0083 Content Manager
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    Morning Lineup – Blow Out in…Sneakers
    Feb 21, 2019

    In these emails, when we use the term blow out it is usually in reference to yields, spreads, or earnings, but today traders on Wall Street are focused on the blow out in Duke star Zion Williamson’s sneakers and specifically how it will impact the stock of Nike this morning. Thankfully for Mr. Williamson, the injury doesn’t appear to be too serious, but Nike overnight has been in full-blown damage control. Even former President Obama immediately noticed the cause of the fall as being due to the fact that “his shoe broke.”

    In broader news this morning, US equity futures are lower after some mixed economic data. Although Jobless Claims came in better than expected, the Philly Fed report missed by a mile and actually went negative for the first time since May 2016.

    In last night’s Closer, we discussed, among other things, the recent strength in the Russell 2000 and its 8 straight days of gains. Along those lines, we wanted to highlight not only how strong small caps have been overall, but also relative to the S&P 500. Just recently, the 30-day performance spread between the Russell 2000 and the S&P 500 topped 5 percentage points. As shown in the chart below, although this was common in the early days of the bull market, ever since the FOMC started hiking rates, occurrences have been fewer and far between. The last time the spread topped 5 percentage points was in late 2017 and before that late 2016.

    [​IMG]

    The chart below shows the relative strength of the Russell 2000 versus the S&P 500 since the start of 2009, and the red dots indicate each time the performance spread above topped 5 percentage points. What’s notable about this is that in each of the last two periods where the spread reached similar levels, small caps underperformed going forward.

    [​IMG]
     
  9. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    very quiet on options today. I only see a handful of options traded over $250K - none that peak my interest.

    Looking closely at JNUG short or DUST long as well as LABU short or LABD long - soon... just waiting for a short term trend change.
     
  10. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    Option Alert:

    TLSA 2/22/19 297.5 CALL - someone bought 989 contracts @ 5.60, which was the ask price OI was 247 at the time making me think this is a new position. Strike is expiring tomorrow. This represents $553,840 - half million bet on being ITM tomorrow. Does someone know something?

    Edit - TSLA just dropped big in the last 15-30 minutes. I just bought 1 contract @ 3.65 so piggyback on this.
     
  11. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    out of the calls at 2.50 - small loss. The 1/2 Million dollar buy is hurting even more.
     
  12. bigbear0083

    bigbear0083 Content Manager
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    so...is that 2800 level on the cash spx going to be the new 200ma resistance from a few weeks back? :p

    so far the first attempt at that level has been unsuccessful, but after such an extended run higher a little give back was due.

    i wonder if we're going to chop around here for a bit, and then try for the 2800 again which has been a pretty solid resist level going back to last fall.

    a convincing break through of 2800 and i'd say we're off to the races to new ATHs.

    only thing is what will get us there at this point?

    how much of the trade talks is now "priced in" to the market at this point?

    as for the FED, after yesterday's minutes it sure seems like they are going to stand pat until at least H2.

    any other potential catalysts out there that i may be missing?

    better econ. data? the philly fed # stunk this morning, but a more recent data like job claims was pretty good, which might be encouraging to see if we get a nice bounce back in econ. data post-gov't shutdown noise. we shall see. :p
     
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  13. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Looks like biotech stocks getting hit today, basically all of the biotech stocks on my watchlist are in the red :eek:
     
  14. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    I think the trade deal is somewhat priced in, we should still get a pop for a day or two if they get a deal but I wouldn’t be surprised that it becomes the sell the news event very quickly too considering how great the market has done so far this year :p

    I think as long as earnings and the data show decent growth without huge acceleration in inflation, we are pretty likely to see a new ATH later this year.
     
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  15. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Gold also got hit today, it has done very well lately :eek:
     
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  16. bigbear0083

    bigbear0083 Content Manager
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  17. bigbear0083

    bigbear0083 Content Manager
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    Good Friday morning to all.

    Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open-
    [​IMG] <-- click there to read!

    Hope everyone has a great trade day ahead on this final trading day of the week.
     
  18. bigbear0083

    bigbear0083 Content Manager
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    Morning Lineup – Much Ado About Nothing
    Feb 22, 2019

    We realize that it has been a holiday-shortened week and everything, but you can’t get much more boring than the last three days of trading. Heading into the final trading day of the week, the S&P 500 is within one point of where it closed out last week. That could change today, though, as the S&P 500 is indicated to open higher by about 10 points. That won’t be enough to bring potential resistance levels into play near 2,800, but it’s a move in the right direction. Today’s catalyst for higher prices? Optimism on a trade deal with China on news that President Trump will meet with Chinese Premier Lui today at 2:30 PM. What else is new?

    There’s no economic news on the calendar today, but Fed speakers will make up for the void as nine members of the FOMC are scheduled to speak throughout the day. Nine!

    As mentioned above, the opening gap won’t be enough to bring potential resistance at 2,800 into play. Below are updated S&P 500 and Nasdaq composite charts that we highlighted in last week’s Bespoke Report. Even with more than 90% of S&P 500 stocks above their 50-day moving averages, it still has yet to make that higher high that we have been waiting for. The Nasdaq, meanwhile, briefly made a higher high and peeked above its 200-DMA earlier this week, but fell back down below that level yesterday.

    [​IMG]

    [​IMG]
     
  19. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    People might be wondering about a frame of reference for STMP, a stock that loses 50% overnight.
    3 years ago there was DATA:
    [​IMG]
    It went from 80 to 40. Currently 132, so in 3 years it made it back and then some. But for a year after the drop it was pretty rough for bagholders.
     
  20. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    The DOW and the NASDAQ are heading for 9th straight week of gains, pretty amazing :eek:
     

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