|Day Low/High||7.04 / 7.37|
|52 Wk Low/High||1.50 / 60.00|
What's most important about this market is understanding which themes are driving the action.
KODK is a big mover after regulators discovered no wrongdoing or misconduct in its loan process/award from the U.S. government.
I'd give some time to a SCCO trade and go out to December or January with a $50 call.
To do well in this market you have to be in the 'third market' where the values are.
Stupid is as stupid does. Eastman Kodak was up as much as 65% on the report that D.E. Shaw had taken a stake. Of course the issue with this is that Shaw is a quant fund!
But I'm more interested in what's happening beneath the surface.
This week I covered all of my individual shorts with the exception of Caterpillar and Apple (which I retained for the purpose of reminding myself how stupid I can be at times). Shorts that I will likely soon wish that I hadn't covered this week in...
* There is a fundamental difference between trading your capital and investing your portfolio * Short term trading of shiny objects "du jour" and longer term investing in companies with deepening moats (competitive advantages and enduring franchises...
The icing to the market's cake has been monetary and fiscal stimulus.
* "Buyers live higher, sellers live lower" * With so much systemic buying and little discretionary buying - speculation and large price moves have become more commonplace * How Robinhood is at the core of speculation and why their impact is consider...
* It's the mother of all short squeezes (part deux) * Does he live under water? "Yeah, like Bizarro Superman, Superman's exact opposite, who lives in the backwards Bizarro world. Up is down, down is up, he says hello when he leaves, goodbye when he...
In the vast middle, there is a mishmash of action and rotation.
I suspect that we're more likely to see corrective action in the form of a rotation rather than broad selling in the indices.
The big momentum winners of the past two days are seeing some nasty reversals.
The speculative twins - Kandi Technologies , which was +33% from this morning, and Eastman Kodak , which nearly doubled from this morning, are now down on the day.
* I am bearish on self confidence and certainty in an uncertain world * I am bullish on history and the lessons it has taught me * Speculate, but recognize the downside to holding the bag The sailors say, "Brandy, you're a fine girl" (you're a fine...
The Fed has done a lot, and is willing to do even more, but for now, is watching Congress. The fiscal side is where the next shoe falls.
There are two distinct elements of this market and my choice is easy.
Anyone playing the guessing game into earnings is rolling the dice.
Wild speculative trading continues to be the most fascinating aspect of this market.
The Fed will release its policy statement at 2 pm Eastern time Wednesday.
A positive aspect of this sort of action is that the best trading opportunities tend to stand out more.
My focus is the implied volatility. It gives us put selling or ratio put selling for credit opportunity.
Matt Ridley's books have sold over a million copies, been translated into 31 languages, and won several awards. His books include The Red Queen, Genome, The Rational Optimist, and The Evolution of Everything. His book on "How Innovation Works" will ...
Fujifilm Holdings has a promising drug that seems to work in improving the outcome for coronavirus patients in China and Japan, though Avigan is a treatment not a cure.
High above the Alps my Gnome continues to hear that Procter & Gamble's Board of Directors is looking at a spinoff into two or three separate companies. Don't know if it's true but this notion was part of my investment rationale, "I am Double Upgradi...