Morning Commentary
It was an interesting week that saw all the great action away from the major indices, save for the lesson on innovation that saw automakers Ford (F) and General Motors (GM) rewarded. Conversely, International Business Machines (IBM) and Intel (INTC) were punished for squandering greatness.
Another narrative reemerged: betting on the Big Five. Hedge funds were the source of newfound optimism in Apple (AAPL), Amazon (AMZN). Facebook (FB), Microsoft (MSFT), and Alphabet (GOOG). Those companies will get the chance to prove if they are worthy of their new role as safe havens. Individual investors were also buying those names, but it was their battles with the shorts that were the news of the week.
Market Breadth (Week) |
NYSE |
NASDAQ |
Advancers |
1,956 |
2,617 |
Decliners |
1,928 |
1,320 |
New 52-week Highs |
489 |
898 |
New 52-week Lows |
13 |
45 |
Up Volume |
10.2 billion |
17.5 billion |
Down Volume |
8.9 billion |
8.4 billion |
Key Earnings Reports
Apple (AAPL) might be the first company to post $100 billion in quarterly sales, while Microsoft (MSFT) is looking for $40 billion.
Other important names posting results include:
The Big Payback
Hey, gotta, gotta payback! (the big payback)
Revenge!
I'm mad (the big payback)
Got to get back!
Need some get back!
Pay Back! (the big payback)
That's it!
Payback!
Revenge!
I'm mad!
-James Brown
It’s no secret. I do not like shorts. I have seen too many defenseless companies; small businesses trying to make it by floating shares that get crushed unmercifully by shorts. They are famous for being so committed to driving down share prices that they never quit, which is why it is said they go out on the shield.
They must have a lot of shields because they were destroyed on Tesla (TSLA) alone. Some are saying this could be the greatest short squeeze in history. I have never seen anything like it. One thing, however, is that the shorts always get more funding and have media friends that help them with negative stories.
It will be an amazing battle for sure. I’m working on a new set of names. Meanwhile, there is a lot of bubble talk out there, so ask for a copy of my Payne’s Perspective.
Economic Data for the Week
Day |
Release |
Est |
Previous |
Wednesday |
Core Durable Goods Orde |
0.5% |
0.4% |
Thursday |
Initial Unemployment Claims |
878k |
900k |
Thursday |
4Q GDP |
4.0% |
33.4% |
Thursday |
New Home Sale |
860k |
841k |
Friday |
Personal Spending |
-0.4% |
-0.4% |
Friday |
Personal Income |
0.1% |
-1.1% |
Friday |
Core PCE Price Index |
1.3% |
1.4% |
Friday |
Michigan Consumer Sentiment |
79.2 |
79.2 |
Portfolio Review
We took profits on Consumer Discretionary on Friday and raised cash to 15%.
Today’s Session
Futures are mixed this morning, with the Dow pointing to a lower open and the Nasdaq and S&P500 to a slightly higher open. Oil is also up slightly, with WTI trading at $52.32, while the 10-year U.S. Treasury gives up a little ground to 1.065%
Welcome news from Moderna (MRNA) this morning stating laboratory studies showed that its COVID-19 vaccine is still effective guarding people against two new coronavirus variants from the United Kingdom and South Africa. MRNA shares are up 4.6% in the premarket.
While still tragic, Covid-19 hospitalizations in the US were down 10% over the last week, the 11th consecutive day of week-over-week declines.
Comments |
I use the Johns Hopkins numbers each day to figure out the number of cases per hour are infected and deaths. Using there numbers and time line, the death rate on Jan 22 and 21 st was 175 per hour. Rates do vary a lot and probably due to the time line of submitting data. Infected cases per hour are 5314 in the US. Jim H on 1/25/2021 10:53:14 AM |
"MY SQUEEZE WINDFALL" Bought PETS years ago for $45. It's been languishing in the $20's ever since. Noticed it SHOOT UP to $50 Wednesday evening. Went to Yahoo Finance News to see why, they said a Short Squeeze going on. This morning I input a SELL but watched the Bid/Ask on Fidelity before clicking the Execute button. Pulled the trigger at $52; turned out to be the HIGH of the Day ! Instead of PETS being 'dead money', it just made me $1300 profit. Thanks to whomever ran it way up, much appreciated !! Dallas Tx LoanRanger on 1/28/2021 4:11:00 PM |
Tweet |
3/28/2024 1:39 PM | Fruitful Quarter |
3/28/2024 9:50 AM | LISTEN TO THE MARKET |
3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
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