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Afternoon Note

St Nick Still Delivering

By Charles Payne, CEO & Principal Analyst
12/27/2019 1:29 PM

It has been a rather benign session, but St. Nick is still delivering presents. The Dow and the S&P500 are currently up modestly, while the Nasdaq is taking a slight breather after crossing 9,000. One of the most active names, and greatest percentage gainers today is Rite Aid (RAD), which is helping to lift the Consumer Staples sector. 

RAD is currently up 12% on the day.  We are long RAD on our Swing Strategies service.  If you are not already a subscriber, contact your account executive or email research@wstreet.com to find out more. Facebook (FB) is also enjoying a nice day. It hit a new 52-week high today, and is 5% from its all time high, which it hit in July 2018.

S&P 500 Index



Communication Services (XLC)



Consumer Discretionary (XLY)



Consumer Staples (XLP)



Energy (XLE)



Financials (XLF)



Health Care (XLV)



Industrials (XLI)



Materials (XLB)



Real Estate (XLRE)



Technology (XLK)



Utilities (XLU)



The EIA crude inventory report showed a greater than expected draw down of 5.5 million barrels. Oil is relatively flat on this new, with WTI trading at $61.70.  As mentioned previously, the Energy sector is a bigger winner this month, up 6%.

Volume is light, and many people, if they came back to work, have now headed home. 

Charles, you have always been held in high esteem as an honest evaluator of stocks based on fundamentals, not only momentum or charts. Re: Tesla, I donít get why youíre an advocate. President Trumpís policy to bring American companies back from abroad, and especially China, is working. Yet, Musk opens a factory there, and your second stringer on for Maria Bartiromo this morning is celebrating the first Model 3 off the Chinese assembly line like itís the second coming of Jesus Christ. What happened to your belief in fundamentals? Yes, Musk is P.T. Barnum, and worse. A legitimate outfit puts a realistic price target of $210 on this dog and pony show, and you all counter with some Chowdryhead who must be the Great Kreskin to see 10 years into the future predicting a price of $4k? Yes, Iím a short on Tesla, and proud to say itís the only stock Iíve ever shorted in my life. By the way, how long ago was Tesla @ $179? Years, decades? No, it was a few months ago. Before the latest bullshit reveal, the bullet proof cyber truck which can tow 35,000 lbs. 500 miles on a single charge...unless you turn on the heat in winter, or the a/c in summer. Please spare me they hype, and prove something heís claimed. Besides Space-X rockets to Mars (which has nothing to do with Tesla, the CAR company), flamethrowers, solar panels...even his battery technology is pie in the sky. The batteries degrade with each charge, so the range is reduced each trip. How much does it cost to replace the battery pack in 5-6 years when its useful life is over? Oh, yes. Where do you dispose of this monstrosity? Itís not recyclable, so youíre hurting the planet by dumping it in a landfill, arenít you? Where does the electricity come from to charge it overnight? Right, fossil fuels. Please Charles, stop shilling for this bum. Call him a visionary genius all you want. But donít say his company valuation is correct. He hires a new financial officer as often as I change my shorts. Why? Because they get a look at his books, refuse to keep up the charade and quit. Iím sorry if I sound angry, I am. We agree on almost everything, and I respect your opinions. Just canít understand you defending this fraud.

Chris A. on 12/30/2019 2:43:30 PM

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