Afternoon Note
It’s another sloppy session in what has been an indecisive week, as the market contends with too many issues while trying to assess earnings and guidance.
Meanwhile, more strong news on the economic front. The United States enjoyed the best October PMI composite numbers posted by Markits.
Global Flash PMI |
Composite |
Manufacturing |
Services |
United States |
55.5 |
53.3 |
56.0 |
European Union |
49.4 |
54.4 |
46.2 |
Germany |
54.5 |
58.0 |
48.9 |
France |
47.3 |
51.0 |
46.5 |
United Kingdom |
52.9 |
53.3 |
52.3 |
There are some semiconductor names that could be buys on industry weakness. Nvidia (NVDA) is the real bellwether of the group these days.
S&P 500 Index |
-0.16% |
|
Communication Services XLC |
+0.02% |
|
Consumer Discretionary XLY |
-0.17% |
|
Consumer Staples XLP |
+0.03% |
|
Energy XLE |
-1.02% |
|
Financials XLF |
-0.15% |
|
Health Care XLV |
-0.01% |
|
Industrials XLI |
-0.03% |
|
Materials XLB |
+0.09% |
|
Real Estate XLRE |
+0.12% |
|
Technology XLK |
-0.46% |
|
Utilities XLU |
-0.12% |
We have more cash than at the beginning of the week and its burning a hole in my pockets. Have a great weekend. Stay well and be safe.
Comments |
Charles, what do you think of Tesla these days? I have 600 shares and sell Calls every 2 weeks. I've been doing this for about two months now, and have made about $25k on just selling the Calls! Is this a wise strategy over time, or am I in for a big issue down the road? Have a great weekend! Jay Bodner on 10/23/2020 4:37:03 PM |
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