|Day Low/High||59.35 / 61.22|
|52 Wk Low/High||53.36 / 79.31|
Professionally managed capital not only participated heavily on Monday, the pros showed some aggregate fear.
Plus, checking out trades related to Amazon, Macy's and a few defense and metals stocks.
Also, the NFIB Small Business Optimism Index printed at 99.7 for July, still on the strong side, but well below June's print, and well below expectations.
One thing we know is that the current wave of the pandemic just seems to be getting worse.
Right now, we are spirits in the Materials world.
There's a split growing at the FOMC as to just how transitory the current burst of consumer level inflation actually is.
Advanced Micro Devices and Nvidia score solid gains on Thursday as the tech sector enjoys a nice day.
What's going on inside the head of the Fed Chair or anyone sitting on the committee (FOMC) as they roll into Wednesday afternoon's block party?
The Fed and Treasury were heroic in the early days of the pandemic shutdown. This economic environment is not that economic environment.
I'd give some time to a SCCO trade and go out to December or January with a $50 call.
With the metal's prices rising, the charts of SCCO are bullish, here's how to approach it.
Copper equities will keep reaping the benefits, until central banks close the taps.
Inflation will be a big theme for 2020 and commodities will benefit the most -- especially copper and iron-ore.
The big gains in commodities stocks come to those who jump in when commodity prices are down and forming a bottom, or in the early stages of an uptrend.
Dow gains some 28 points, while S&P 500 and Nasdaq inch higher in quiet post-holiday trading.
Bearish names dominate this week and financials in particular.