Afternoon Note
The major indices are waffling, reflecting reluctance to take the bait on today’s rally attempt. That said, there are some differences today compared to yesterday. Earnings out today are across a wide range of sectors and industries. Coupled with bottom fishing, positive earnings surprises are attracting buyers and sending serval names soaring.
Under Armor (UA) was the street’s big retail bet coming into 2018, and it was a major disappointment until today. UA’s financials weren’t so over the top great, but with 24% of the float short coming into the session, there is a monster squeeze going on.
Take Two (TTWO) missed on earnings a couple of weeks ago sending the shares lower. But news that Red Dead Redemption II had the second most successful opening weekend in entertainment history, besting every movie opening ever, has the stock moving higher by 10%. At $725 million, the three-day weekend only trails Grand Theft Auto 5.
American Tower (AMT) has missed the street in each of the last four quarters, but the future looks bright, and the stock is surging, lifting Real Estate to the top performing sector today.
+0.66% |
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+1.84% |
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+0.90% |
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+1.03% |
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+1.10% |
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+0.33% |
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+0.46% |
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+0.85% |
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+1.14% |
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+1.97% |
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+0.27% |
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-0.50% |
I love what’s happening beneath the surface with market fundamentals and the economic backdrop. Just waiting for the moment, which is coming soon, to be very aggressive.
Comments |
If you put your picture up wearing your new Lid and saying I'm bullish on the trading floor, we will get a 1000 point jump in the Dow. Nice hat! george threatt on 10/30/2018 8:44:43 PM |
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4/19/2024 1:20 PM | Fair Chunk of Rotation |
4/19/2024 9:35 AM | DON’T OVERREACT |
4/18/2024 1:37 PM | Didn’t Break Down |
4/18/2024 9:40 AM | MARKET OFF SCRIPT |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
4/9/2024 1:56 PM | Fighting the Trend |
4/9/2024 9:46 AM | NEXT TIME, MAKE IT A HOLIDAY |
4/8/2024 9:45 PM | Cautious Feel |
4/8/2024 7:19 AM | IT’S ECLIPSE DAY |
4/5/2024 1:51 PM | Higher and Cheaper |
4/5/2024 9:23 AM | MARKETS REEL ON BIDEN’S ISRAEL ULTIMATUM |
4/4/2024 1:42 PM | Stocks Bounce |
4/4/2024 9:31 AM | ESCAPING GRAVITY = ESCAPING REALITY? |
4/3/2024 1:41 PM | Cuts Not Soon |
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