Over Optimistic on Stimulus?
Stimulus on. Stimulus off. Stimulus on again. Markets getting whiplash as DC can't seem to make a decision. The SPX is once again butting up against the expected move for the week. Here's what to look for next…
Stocks Crash As Stimulus Hopes Were Dashed Temporarily
Tuesday Rollercoaster The stock market exhibited high volatility on Tuesday afternoon. Let’s set the scene. Stock market was rallying nicely, with strong outperformance by the reopening stocks and banks. There was a burgeoning reflation trade as the TLT (long bond ETF) was falling. TLT almost closed below its 200 day moving average for the first…
25 Percent Decline In Christmas Shopping In Stores Expected
Update On The Consumer Redbook same store sales growth fell from 2.2% to 2.1% in the week of October 3rd. That’s better than the trough of this year and the decline in September, but it’s not an area we want growth to settle at. We want growth to stay in the mid single digits which…
Leisure & Travel Bulls ‘Jump the Shark’ as Stimulus Hopes Fade
Unusual Option Activity Report The day started out so well for leisure and travel names like Carnival Corp (NYSE: CCL) and Wynn Resorts, Limited (NASDAQ: WYNN). At first, prices were rising, and there was significant bullish option activity. That lasted until the news came from President Trump that the stimulus negotiations were done until the…
Markets Not Feeling Stimulated?
We had a wild session with high volatility and a logical sell-swing from the plan, but you may be surprised what caused the sell-side activity. In tonight's video, Corey walks you through today's action that ranged from the Fed Chief Powell discussing stimulus and a surprise tweet cutting off the possibility right before the close…
Mega Rally In Small Caps, Banks and Oil
Massive Monday Rally Stocks absolutely exploded on Monday as President Trump was released from the hospital and tweeted in favor of a stimulus. Uncertainty over his health is over as many knew it would be. Odds of a stimulus passing in October probably increased. We won’t know if President Trump getting healthier helps him or…
Second Highest ISM Services PMI Of 2020
Slightly Disappointing Wage Growth Within September’s employment report, hourly wages were up 0.1% from last month which missed estimates for 0.2% growth. Plus, August’s reading as revised down a tick. The exact same was true for yearly growth as hourly wages were up 4.7% instead of 4.8% and August’s reading went down from 4.7% to…
Option Bulls Find a Friend in Cannabis Stocks
Cannabis stocks have been an industry that has seen consistent unusual option activity. While not every signal has resulted in big moves, many have. The option market was once again drawn to this industry as option volumes and prices surged. Cannabis Stock Activity Two stocks that saw both significant price movement and option activity were…
More Volatility Chop, Less Volume!
The S&P starts the week off strong as it continues to bounce off our gravity level. However, volume is light and the VIX is choppy. Here's what to look for the rest of the week…
Stocks Still Laser Focused On Stimulus Possibilities
Another Factor Day The stock market has had many factor days this year. A factor day to me is when there is a large dispersion among returns in different factors. You know the drill. Large cap growth stocks have been inversely correlated at times with small cap value. You can see the daily performance spread…