|Day Low/High||48.51 / 50.73|
|52 Wk Low/High||45.40 / 80.29|
I expect Boeing to get a bump off the news from Pfizer of a successful COVID-19 antiviral pill. I've been adding almost daily to Boeing. Also, I'm adding to Citigroup in premarket trading. And I have added to my small Tesla short.
Thanks for reading my Diary today. It was another weird day in the markets, with the S&P 500 index up 20 handles, while the average stock was lower. I covered a bunch of shorts (winners and losers) and moved to a medium-sized position in Citigro...
Based on price - premium to net tangible value - I am eliminating my long standing long in . Citigroup's quarter was unsatisfactory, more on that next week, and I have also sold that position. I now own no bank stocks.
Still, my favorite financial name at the moment is SoFi Technology as I believe that they have all of these banks in their sights.
Banks rolling over after beats. Brokers initial gap turns into losses. FAANG gains moderating. Getting more serious on short side. Shorted at $44.17 against my and longs.
While supply-chain constraints are a global problem, consumer-level inflation is not yet as broad a problem, or at least not evenly distributed.
Bank stocks are among the most favored value plays of many money managers and strategists based on the fact that the industry is a direct beneficiary of higher interest rates. This is indeed true - as banks are balance sheet and income statement se...
The financial names will begin to report earnings this week,
While rates are playing havoc with growth stocks, there is other rotational action going on.
Market volatility could spike in late November/early December just as liquidity walks away. Keep that in mind.
Having a debt ceiling is foolish, it only ever matters to the party currently out of power and never really does what it was intended to... curb federal spending.
"And it's just a box of rain I don't know who put it there Believe it if you need it Or leave it if you dare And it's just a box of rain Or a ribbon for your hair Such a long long time to be gone And a short time to be there..." - Grateful Dead, Box...
I do not share the growing optimism on bank stocks ("price has a way of changing sentiment") -- and I don't see a new bull market leg in the space. Indeed, I see reward vs. risk deteriorating moderately in this week's advance. I have taken a pro...
I've gotten some questions about my comment surrounding the weaker than expected economic data, including today's August ISM Services data and the August Employment Report. To list off all of the recent economic data and how they clocked in vs. expe...
The largest tech investors in Asia and Africa are scouring India for prospects after souring on China.
After a wonderful run and keeping with my ursine market view, I just took off some and longs at $161.10 and $73.82, respectively.
Doesn't the Fed now have to taper asset purchases simply to avoid becoming an even greater force in these markets?
They are all chasing the same people, the millennials.
Some of my longs that I have mentioned recently include , , , , , , (spec), (spec), , , , , and .
* Trading and investing can sometimes be as seen as much as art as science * To me, both trading and investing should be embarked upon dispassionately, enforced and supported by a sense of where value resides * Some technicians see the recent rollov...
IBM beat expectations and the complexion the overnight mood changed. But will the mood change hold?