Afternoon Note
By Charles Payne, CEO & Principal Analyst
3/2/2021 1:16 PM
Slowly but surely, the market is looking better with five sectors edging into the plus column from just two for most of the session.
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S&P 500 Index |
-0.33% |
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Communication Services XLC |
-0.01% |
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Consumer Discretionary XLY |
-0.38% |
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Consumer Staples XLP |
+0.21% |
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Energy XLE |
+0.02% |
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Financials XLF |
+0.09% |
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Health Care XLV |
+0.02% |
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Industrials XLI |
-0.19% |
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Materials XLB |
+0.82% |
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Real Estate XLRE |
-0.75% |
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Technology XLK |
-1.08% |
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Utilities XLU |
-0.08% |
Slowly but surely, the market is looking better with five sectors edging into the plus column from just two for most of the session.
Gold
I think this is the proverbial calm before the storm.
It begins with the ADP employment report in the morning – I’m rooting for a strong number.
On Thursday, Jay Powell is at a WSJ event and he better say something different. The smallest nugget that suggests real commitment to staving off inflation would provide the biggest spark.
Then, we get the BLS jobs report on Friday.
We raised cash with some banking of big gains in the model portfolio. If you are not a current subscriber to our premium Hotline service, email Info@wstreet.com to get started today.
| Comments |
| Got my book and am cruising thru it! Excellent so far! Serious, very serious question....I’ve owned RKT and am enjoying the short squeeze. I think this is a very different story than the meme stocks. Although the Reddit crowd is rocking the show, RKT blew the doors off in its last filing, and from what I can tell, may have tremendous upside go forward. The float and OS are relatively small, the short position is above 40%, it trades at about half of what banks are trading at....this is a real good story. With the special divvy of $1.11 per share, I think the shorts may take a legitimate beating. Wondering your thoughts? As always, I will be tuned in at 2pm. Pretty sure that may be a topic. Looking forward to your usual great analysis!!!! Peace and have a great night!!! Wally G Walter Geising on 3/2/2021 10:29:17 PM |
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