Morning Commentary
The rally faded into the close yesterday, yet it was still a remarkable session for most of the market. Market breadth was solidly bullish, although not as strong as the prior session.
We are still a long way off the new 52-week highs witnessed the week before last. On the flip side, there were no 52-week lows on the New York Stock Exchange and only six on the NASDAQ Composite.
Market Breadth |
NYSE |
NASDAQ |
Advancing |
2,443 |
2,904 |
Declining |
761 |
997 |
52 Week High |
132 |
217 |
52 Week Low |
0 |
6 |
Up Volume |
3.11B |
4.29B |
Down Volume |
2.47B |
2.99B |
All S&P 500 sectors finished higher, but Financials (XLF) were the biggest winner for the session, as those big Wall Street Banks finally stepped up:
S&P 500 Index |
+1.39% |
Communication Services XLC |
+1.53% |
Consumer Discretionary XLY |
+2.12% |
Consumer Staples XLP |
+0.67% |
Energy XLE |
+1.09% |
Financials XLF |
+2.42% |
Health Care XLV |
+0.29% |
Industrials XLI |
+2.12% |
Materials XLB |
+1.32% |
Real Estate XLRE |
+0.43% |
Technology XLK |
+1.35% |
Utilities XLU |
+0.82% |
Bye, Bezos
After the close, Amazon (AMZN) posted monster results:
Initial shares popped, but then came word Jeff Bezos would soon be stepping down. He will hand over the job to Andy Jassy, who started at the company in 1997. Jassy is a self-taught technologist who built Amazon Web Services (AWS) into a juggernaut.
Despite his resume, the Street might make him wait for the kind of respect earned by the relentless founder and soon-to-be ex-CEO Jeff Bezos.
Amazon comments from earnings conference call from Briefing.com:
Hello, Google
Alphabet (GOOG) was lost in the after-hours hoopla, but the company delivered big time:
Shares of the stock took off in after-hours trading.
Game Stopped
GameStop (GME) shares finished down 60% after a day of trading halts and valiant efforts to regain traction. The restrictions are still too high, as the tide has turned on the stock for the moment.
In the middle of the session, the diamond hands crowd on WallStreetBets (WSB) got a pep-talk from Mark Cuban, who said he would hold if he were ‘long’. But he also said WSB would have to step up again as the shares continue to move lower.
A big key is redeploying from Robinhood to a platform without liquidity problems.
I think Mark is onto something here. I’m reluctant to share a strategy, since I am not in the idea, and I liked it before it moved into the stratosphere. But I sincerely do not believe the saga is over, especially if traders step up again. Make no mistake. The stakes are high, bias is to the downside, and I have no idea where support is under $80.00.
The Thinking on Reddit
Thinknum’s new Reddit Mentions dataset tracks the number of times NYSE and NASDAQ tickers are mentioned in the top 100 posts on r/WallStreetBets and r/Stocks in real-time.
Portfolio Review
We added to Industrials and took profits in Consumer Discretionary yesterday in our Hotline Model Portfolio. Today, we are adding to Technology.
Today’s Session
The January ADP report showed the private sector added 174,000 from December’s decline of 78,000, topping analyst expectation for a 50,000 rise.
Goods Producing +19,000 |
Service Providing +156,000 |
Mining 0 |
Trade/trans/utilities +16,000 |
Construction +18,000 |
Information -2,000 |
Manufacturing +1,000 |
Financial Activities +1,000 |
Professional & Business +40,000 |
|
Education & Health +54,000 |
|
Leisure & Hospitality +35,000 |
|
Other +10,000 |
Comments |
Regarding Jassy, that "the Street might make him wait for the kind of respect earned by the relentless founder and soon-to-be ex-CEO Jeff Bezos", I hope that Jassy will be less ruthless toward small businesses. Despite profiting wildly from the horrific pandemic, Bezos continued to run Amazon as though he was fighting to build his first business. Bezos has unimaginable wealth, yet there was a small business that invented a very cool tripod, and they sold it on Amazon. It was a huge success. What did Bezos do? He had a company in China copy the tripod and reproduce it, then Amazon sold its own generic version for a cheaper price and put the small business OUT OF BUSINESS. I have zero respect for Bezos. He is a cruel man. Robin on 2/3/2021 1:38:44 PM |
https://prom-electric.ru/allen-bradley-oshibki-rasshifrovka-kodov-neispravnostej-pch/ AIELLO85 on 2/4/2021 3:42:55 AM |
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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