It was as if everyone expected it yesterday. After we opened down more than the markets have been in weeks, you can see the rally coming from a mile away. Basically from 30 minutes after the opening bell, we started to climb back. All. Day. Long. There was a simple goal in mind and that was to finish in the green. Sure as the sun comes up in the morning, the DJI and the SPX accomplished that goal. What else is there to expect today besides capping off that rally with another on! I suspect we will continue this run and the buying spree will carry over. If you didn’t act quickly yesterday, that night have been the only dip available for awhile. That dip lasted a whole 30 minutes. Long live the perma-BULL! Open Position: NFLX NVDA XLNX YELP EOG COP C Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM
The DJI was the clear leader yesterday as they led the markets higher yesterday. The COMP barely finished in the green while the SPX finished slightly higher. At some point this rally has to slow down but there have been no signs until yesterday. The COMP being so weak compared to the DJI might be giving us a guiding light to traders taking off risk. The DJI was the exception instead of being the baseline yesterday. Truth is that we have been seeing weakness all week in pockets of trading, but ultimately buyers won out with late day rallies. I suspect we continue higher but not with the same velocity we have been accustomed. It’s hard for buyers not to get caught up on the drop but that will be the price of business. I fully expect buyers to continue to flood the markets on the rally or on the drop. The perma-bull sentiment remains strong. Open Position: NVDA XLNX YELP EOG COP C Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM
The DJI hit a major milestone yesterday as the major average trade above 23k during the session yesterday. There were some that have said we would never see that level in our lifetime, yet here we are just a decade after the last market crash. We basically hit those lows and rallied back like the markets had been propped up by quantitative easing or something. Here we are with POTUS Trump gleefully taking credit for this record run and central bankers still trying to push more money into the markets. The natural market movement and behavior is a thing of the past and we are in a perma-bull state. It’s been great for the investor and trader alike. Not everyone has been doing well, but the vast majority had done alright for themselves. That is why this won’t slow down anytime soon. We used to be allowed to drop 5+% in the markets but not anymore. Now a 1% retracement sends people panicking and the bulls salivating at their mouth. Enjoy the ride ladies and gentlemen. We won’t be slowing down anytime soon it looks like.
Another day in the markets, another record high that will serve as a benchmark for traders to buy through today. It seems we are literally blasting through the highs making new records daily. In essence, that is exactly what we’ve been doing the past few weeks. I don’t see the markets slowing down, but eventually we will slump for a day or two. Clearly the markets are ignoring the NK threats and have no concerns besides the tax reform at the moment. That was a huge reason why we rallied and held the highs of the session yesterday. Look for the market to continue grinding higher from here. I love the upside and will continue to play the buyer for now. Open Position: NVDA KLAC IBM XLNX YELP EOG COP C TSLA Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM
The markets rallied once again to finish off the week. With all time highs being the theme of last week and the week prior, we continue the bull run since we broke out at the previous resistance levels. We now have confirmation that this breakout is eerily similar to the breakout last November, this comes at the time where the markets historically retract. Maybe we’re rewriting history one record at a time, but clearly the algorithm programs and traders are completely disregarding historical values. I suspect we continue this run through earnings and possibly longer. It seems nothing can slow the markets down at this point. Continue to buy with confidence for the short term. Gains are still to be had! Open Position: NVDA KLAC IBM XLNX YELP EOG COP C Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM
Shares of AT&T (T) sunk in trading on Thursday after the company warned investors of a potential $90M hit on third quarter revenue as a result of the earthquake in Mexico and the aftermath of tropical storms/floods in the United States. T shares ended the session down -6.10% and closed at 35.85. Keep an eye on the stock for further developments. Earnings will be reported on October 24th.
We saw a slight deviation in recent market behavior yesterday. We saw the three major markets make new all time highs and then the markets started to unravel. In recent weeks, we’ve been piling onto these levels to extend the rally. Maybe it had to do with the volatility in energy names, or that C and JPM unraveled off of earnings. Maybe it’s just an anomaly and I’m reading too much into. Whatever the case maybe, it was surprising and much needed. I still think we bounce back and rally in the markets. I think we continue this run and crude futures is starting to stay afloat of the 50.00 mark. While we still have news events that can shake things up, I don’t think it will be a cause to sustain any short term down trend. Continue to buy with confidence and be prepared to buy on dips. That’s if the markets will dip anytime soon… Open Position: NVDA KLAC IBM XLNX YELP EOG BABA COP C Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM
It was a bit of a slower session as we only had one new record all time high yesterday. The DJI was the strongest out of the three major averages and of course was the one to have a new record. It was a mixed day for stocks however. We saw some risk off trading in quite a few names yesterday. Some stocks just remained flat for the session. With pockets of stocks rallying and dropping, it weighed on the overall gains for the major markets. It looks like we may see some more risk off trading today, but I suspect we could still rally to record levels. The banks could help fuel the rally as JPM and C will report earnings this morning. I expect them along with the majority of the financials stocks to beat top and bottom lines. If these stocks rally during the session off their earnings report, we could be back on track to new all time records. Open Position: NVDA KLAC IBM XLNX YELP EOG BABA COP Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM
It was another day of record highs for the major averages as the buying spree continues. While it wasn’t a macro lift off across the board, it has been responsive buying in some major blue chips. With these stocks making a strong run to the upside, it’s helping lift the major averages as we gap open at or near the highs. That doesn’t mean stocks haven’t seen some weakness. There was some weakness in some major tech names. However it seems even those aggressive sellers are in these names for the short term. I suspect we continue to rally and see these names follow suit sooner than later. I fully expect more all time record highs and this bull run to continue for a bit longer. Open Position: NVDA KLAC IBM XLNX YELP EOG BABA Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM
The markets finished slightly down for the session as we had extremely light volume on Columbus Day. Maybe some traders took the day off since their kids were off from school. Maybe traders just took a 3 day holiday. Whatever the case maybe, it was a very slow session for the indicies overall. Stocks did make some moves yesterday. Most were to the upside but more than a handful saw a lot of weakness yesterday. Not to fret though ladies and gentlemen. It is Turnaround Tuesday and we should see a lift in the markets. It may not be a blowout buy session, but I suspect buyers will come in as volume should rebound. I don’t see the rally slowing down much coming into earnings season. If the banks kick off the season with a good earnings report and guidance, expect the markets to continue the blowout rally. Until then, expect buyers to slowly continue the vertical push this week. Open Position: NVDA KLAC IBM XLNX QCOM NFLX BABA TTWO Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM