We actually wrote the following on November 20th. We reprint them again because not much has changed: “We continue to believe this remains a very split tape…regardless that some major indices are in new high ground. Bounces aside…and to be clear, all these areas are deeply oversold…we continue to avoid: Gold/silver, real estate, utilities, beverages,…
Stocks were mostly lower on Thursday as heavy selling showed up in the tech sector for the second straight day which dragged the market lower. The tech heavy Nasdaq 100 and many semiconductor stocks fell in heavy trade and broke down below key levels of support. In fact, the Nasdaq 100 has erased all of…
Market Update: Stock futures are lower ahead of Friday’s open as investors wait for the always fun and fake jobs report to be released. The market is digesting a steep decline in the Nasdaq and semiconductor stocks over the past few days. Gary’s Thoughts: We forgot to mention the continued mauling in the big cap…
Market Update: Stock futures are flat ahead of Thursday’s open on the first day of December. Oil prices vaulted 9% on Wednesday after OPEC cut production for the first time in 8 years. The always fun (and fake) jobs report will be released on Friday. Gary’s Thoughts: Futures flat but jello moving all over the…
We are amazed at the White House reaction and we are amazed by the left’s reaction to Trump’s saving of 1,000 Carrier jobs in Indiana. What is the matter with these people. Did they not see the video of the employees when they were told they would lose their jobs? Did they not see the…
Stocks opened higher on Wednesday but closed mixed to mostly lower on the last trading day of the month. The big move to the upside came after oil prices spiked. OPEC cut production by 1.2 million barrels a day to help end the record supply glut. Economic data was mixed. Mortgage Applications plunged 9.4% while…
Arrowhead Pharmaceuticals (ARWR) plunged 60% in after-hours trading after it said it will discontinue development of clinical stage drug candidates ARC-520, ARC-521 and ARC-AAT and will reduce its workforce by 30%. Nutanix — Nutanix (NTNX) lost 37 cents per share for its latest quarter, seven cents a share less than expected. The cloud data storage…
Market Update: Stock futures are higher ahead of Wednesday’s open as oil prices surged 7% ahead of the OPEC decision later today. Looking forward, the highlights for the rest of the week are: OPEC’s meeting, the End of Month, and the always fun (and fake) jobs report on Friday. Gary’s Thoughts: S&P futures up a…
Stocks closed mixed to mostly higher on Tuesday as the very strong election rally continued. Before the open, the government said GDP rose 3.2% in Q3, beating estimates for a gain of 3.1%. A separate report showed decent data for the real-estate market. The S&P Corelgoic Case-Shiller Home Price Index rose 0.4%, matching estimates for…
Market Update: Stock futures are a little higher ahead of Tuesday’s open as the market pauses to digest a strong post election rally. Looking forward, the highlights for this week are: GDP, OPEC’s next meeting, End of Month, and the always fun (and fake) jobs report. Gary’s Thoughts: OILS smoked on weakening oil prices. Someone…
