Afternoon Note
You know it’s a relatively quiet session when a company that sells underwear is the number one percentage gainer in the entire S&P 500.
Normalization stocks are under a fair amount of pressure, which seems odd given the continued improvement in Covid-19 trends.
The S&P 500 index has been under slight pressure today with only one clear winner, as others, including Health Care, waffle in and out of positive territory.
S&P 500 Index |
-0.20% |
|
Communication Services XLC |
+0.35% |
|
Consumer Discretionary XLY |
-0.58% |
|
Consumer Staples XLP |
-0.18% |
|
Energy XLE |
-1.73% |
|
Financials XLF |
-0.26% |
|
Health Care XLV |
+0.03% |
|
Industrials XLI |
-0.23% |
|
Materials XLB |
-0.81% |
|
Real Estate XLRE |
-0.03% |
|
Technology XLK |
-0.04% |
|
Utilities XLU |
-0.29% |
Comeback Stock of the Day
Glu Mobile (GLUU) hit my radar probably around the same time it hit most people’s back in 2014 when the publisher of mobile games announced a deal with Kim Kardashian. I watched the stock for a while and eventually lost interest assuming the deal and the stock were a bust.
As it turns out, the game was downloaded 60 million times leading the company to renew its partnership for another three and half years in 2020.
I’m not sad I wasn’t in the stock when Electric Arts (EA) announced it was acquiring the company. It did occur to me though that this is another example of a company that was ahead of itself and eventually found its way. This stock hit $13.90 back in 2007, and then tumbled all the way to $0.24 in 2008.
The main point is companies can come back. But in real life, it usually doesn’t happen overnight. The stock had a monster bounce from the 2008 low through 2011, but it only truly lived up to the hype in the past couple of years.
GLUU
Remainder of the Session
I must say if this is consolidation, then I like it. These sorts of pauses are fantastic for reposition and getting a read on the market.
Right now, the message is those that are long don’t want to get out, and those on the fence would like to see more of a pullback to get in. The rest are just going to keep hating because they missed it and their approaches do not work anymore.
Comments |
Love you and your commentary. Such great advice given with a passion that is contagious! Dianna McRae on 2/9/2021 2:14:31 PM |
I like how you show the sectors. Gives me a good idea of what the big investors are focused on. Eric Tepen on 2/9/2021 7:13:38 PM |
Everyday can't be over the top. We need some calm days for our souls. Lorin K on 2/9/2021 8:26:48 PM |
Tweet |
7/3/2025 9:45 AM | NICE & STEADY AS SEMIS CONTINUE TO CHIP IN |
7/2/2025 1:44 PM | Materials' Strength Continues |
7/2/2025 9:38 AM | BARNBURNER |
7/1/2025 1:29 PM | Rotation |
7/1/2025 9:45 AM | FEAR OF MISSING OUT IS CREEPING IN |
6/30/2025 1:24 PM | Steady As She Goes |
6/30/2025 9:54 AM | SUMMER RALLY STARTS |
6/27/2025 1:35 PM | Reaching New Heights |
6/27/2025 9:39 AM | THERE'S MORE! |
6/26/2025 1:10 PM | S&P Approaches Record |
6/26/2025 9:51 AM | CHIPS MOMENTUM CONTINUES |
6/25/2025 1:42 PM | Tech Stocks Power Nasdaq 100 |
6/25/2025 9:47 AM | CLIMBING MOUNTAINS OF WORRY |
6/24/2025 1:47 PM | Peace Rally |
6/24/2025 9:48 AM | PEACE THROUGH STRENGTH: THE MARKET LOVES IT |
6/23/2025 1:47 PM | Getting Some Resolve |
6/23/2025 9:51 AM | BRACING |
6/20/2025 1:29 PM | Second Triple Witching |
6/20/2025 9:38 AM | POWELL BLEW IT |
6/18/2025 12:41 PM | FED Day |
6/18/2025 9:45 AM | ROOM WITH A VIEW |
6/17/2025 1:26 PM | Tension Continues |
6/17/2025 9:50 AM | THE BIG TECH TEN & CO |
6/16/2025 1:34 PM | Fears Subside |
6/16/2025 9:44 AM | DRUMBEATS OF PEACE |
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