Stock Market Today: May 20th - 24th, 2019

steady drop since about 1:50...controlled drop so far with no panic selling

 

Semiconductors getting hammered again after more bad news for Huawei over the weekend. Relations between China and us are definitely seem to be getting worse. Will see how the meeting between Trump and Xi goes next month but I am not too optimistic that we will get a trade deal anytime soon

 

Dow Jones hasn't been down 4 weeks in a row for 9 years.
Semiconductors bouncing, holding above 200 sma.

 

Man MNK down another 25+% today. From $130 to $9.50 in 4 years.
Forward P/E of 1.15 lol, I thought 3 was low.

 

Interesting stats for the DOW

 

Thanks Cy. I will go back to post #12 and take a look, always appreciate those useful information from you

 

Yeah Utilities have done great With the ongoing trade war, hard to see rates spiking much higher anytime soon so maybe not a bad idea to park some money into utilities

 

So we could see something this Friday that we haven’t seen in 8 years? Would be pretty amazing if we have another down week for the DOW

 

Home sales fell in April despite a big drop in mortgage rates

https://www.cnbc.com/2019/05/21/home-sales-fell-in-april-despite-a-big-drop-in-mortgage-rates.html

Interestingly homebuilders still have a very nice day in the market

 

I tried shorting one of the homebuilders but that never got going, took a small loss after a week. I was thinking that housing had peaked, since lumber prices were going down.


But I guess another influencing factor for homebuilders is the interest rate.

I know the big inversion is the 2y-10y. But last week we got the 1m-10y inverted. We still have the 6m-10y inverted.
The 2y/3y are so low.
Date 1 Mo 2 Mo 3 Mo 6 Mo 1 Yr 2 Yr 3 Yr 5 Yr 7 Yr 10 Yr 20 Yr 30 Yr
05/01/19 2.42 2.41 2.43 2.44 2.39 2.31 2.28 2.31 2.41 2.52 2.74 2.92
05/02/19 2.44 2.46 2.47 2.46 2.41 2.35 2.32 2.34 2.44 2.55 2.77 2.94
05/03/19 2.42 2.44 2.43 2.46 2.41 2.33 2.30 2.33 2.43 2.54 2.75 2.93
05/06/19 2.43 2.44 2.44 2.46 2.39 2.31 2.27 2.30 2.40 2.51 2.73 2.91
05/07/19 2.44 2.44 2.43 2.46 2.37 2.28 2.24 2.25 2.35 2.45 2.68 2.86
05/08/19 2.42 2.43 2.43 2.45 2.37 2.30 2.26 2.28 2.38 2.49 2.71 2.89
05/09/19 2.43 2.43 2.43 2.46 2.36 2.26 2.22 2.25 2.34 2.45 2.69 2.87
05/10/19 2.42 2.43 2.43 2.45 2.36 2.26 2.23 2.26 2.37 2.47 2.70 2.89
05/13/19 2.41 2.42 2.41 2.42 2.32 2.18 2.15 2.18 2.28 2.40 2.65 2.83
05/14/19 2.41 2.42 2.41 2.43 2.32 2.20 2.17 2.20 2.30 2.42 2.67 2.86
05/15/19 2.40 2.41 2.42 2.43 2.30 2.16 2.12 2.15 2.25 2.37 2.63 2.82
05/16/19 2.40 2.41 2.40 2.43 2.33 2.20 2.15 2.18 2.28 2.40 2.65 2.84
05/17/19 2.39 2.40 2.39 2.42 2.33 2.20 2.15 2.17 2.27 2.39 2.63 2.82
05/20/19 2.39 2.39 2.39 2.42 2.34 2.21 2.17 2.21 2.30 2.41 2.65 2.83

 

I guess were going to gap down past the entire trading range from yesterday

 

so far it's "TRADE WAR BE DAMNED" on wall street this morning....

 

Mnuchin must have said something....market went apeshit

 

Just heard about this one: ( 5 days old )

U.S. Beef Gains Full Access to Japan
https://www.usda.gov/media/press-releases/2019/05/17/us-beef-gains-full-access-japan

 

NAT Gas got whacked this morning. Might be looking at a DGAZ continuation.