For Trading April 29th

OIL Falters, again

Financials, Energy, and Materials Rally

The Russell Up, NASDAQ Down

Today’s market got off to an upward start and was + 470 by 9:45 but gave it up pretty quickly making the low of -120 by 11:15. From there we had a rally that kept us between -60 and +100 for the next 4 hours finishing -32.23 (.13%), NASDAQ -122.43 (1.4%), S&P 500 -16.09 (.52%), the Russell +16.20 (1.26%) and the DJ Transports +89.90 (1.08%). Bottom line here is that we had really split market with NASDAQ and Russell at opposite ends of the spectrum. Consumer confidence fell hard to 86.9 vs 92 expected and Richmond Fed was -53 vs. +2 expected. Market internals were mixed too, with NYSE 2.5:1 Up while the NAZ was only 9:7 higher. Volume remained light. The DJIA was 17 up, 13 down with the leaders MMM +28, GS +24, AXP +21, and DD and BA +18 DPs. On the downside we had UNH -41, AAPL -31, MSFT -29 and JNJ -19 DPs. Energy, financials and Materials were the strength while Healthcare, info technology and communications services the weakest.

Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s very informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!

Tonight’s closing comment video https://youtu.be/NSO2vQcSY-o

SECTORS: Earnings played a big part in today’s market. PEP last night with a beat and was +1.86, CINF was a miss last night and gapped down this morning to 76.28 and just continued to fall to $71.27 before closing $71.81 -10.22 (12.46%). On the upside we had HOG with a “not as bad as expected +2.88 (15.21%), ADS $47.60 +6.21 (15%), and ALK $31.58 +3.73 (13.39%).

After the close we heard from Google and it was a beat on revenues and after closing $1232.59 -38.27 and after trading $1206.97, turned back higher and after hitting $1290 is currently $1267 +35. SBUX was a slight miss and after closing 78.69 is now 77.60 -1.10. AMD missed on expected revenue growth and after its recent move back from a recent low of $36.75 to over $58, fell to $52.40 and is $53.21 -2.29 (4.13%).

And, the HOMERUN OF THE DAY is clearly Creative Realities (CREX), a small firm with a stock that closed $1.00 yesterday +22%, came out of the gate this morning unchanged and rallied on the news that it has a “non-contact temperature system” that along with its AI enabled software “addresses the urgent need for businesses and employers to build consumer confidence as the world goes back to work as stay at home orders are reduced throughout the U.S.” The stock traded as high as $5.15 and is currently 4.85 +3.85 or 385%...Clearly a home run.

FOOD SUPPLY: was HIGHER with TSN +2.51, BGS +1.50, FLO +.06, CAG +.05, MDLZ -.73, KHC +.25, CALM +.21, JJSF +1.92, SAFM +.35 and LANC +1.52.

BIOPHARMA: was LOWER with BIIB +1.98, ABBV -1.64, REGN -18.91, ISRG -13.65, GILD -1.51, MYL +.30, TEVA +.17, VRTX -11.55 (4.3%), BHC -.41, INCY -5.31 (5.16%), ICPT -4.10, LABU -2.89 and IBB $124.86 -2.67 (2.09%).

CANNABIS: This group was LOWER with TLRY -.30, CGC -.53, CRON -.18, GWPH -1.67, ACB -.016, PYX -.14, NBEV -.04, CURLF -.28, KERN +.05 and MJ $12.40 +.02 (.16%).

DEFENSE: was HIGHER with LMT +8.23, RTX +.71, GD +2.74, TXT +.86, NOC +2.19, BWXT +.33, TDY +5.96 and ITA N$163.94 +2.88 (1.91%).

RETAIL: was HIGHER with M +.51, JWN +.21, KSS +1.26, DDS +3.21 (11.35%), JCP +.026, WMT -.28, TGT +2.23, TJX +1.86, RL +3.61, UAA +.36, LULU -1.82, TPR +1.06, CPRI +1.18 and XRT $36.97 +.61 (1.68%).

FAANG and Big Cap: were LOWER with GOOGL the big exception on earning +74.34 (5.85%), AMZN -21.00, AAPL -2.48, FB +2.71, NFLX -15.68, NVDA -1.34, TSLA -22.25, BABA -1.69, BIDU -2.56, CMG -13.07, BA +2.22, CAT +.31, DIS +.60, and XLK $88.85 -.54 (.60%).

FINANCIALS were HIGHER with GS +3.57, JPM +1.03, BAC +.53, MS +.95, C +.89, PNC +.50, AIG +1.38, TRV +1.40, AXP +3.15, V +.74 and XLF $22.75 +.27 (1.2%).

OIL, $112.34 -.44. Oil was a BIG STORY another day of liquidation that took June all the way down to trade $10.07 before turning back higher to 13.69 before closing -.44. Tonight, it is higher again trading 13.05 +.71. The stocks were also higher with gains of about 2% and XLE closed $36.22 +.85 (2.4%).

METALS, GOLD: $1,724.40 + .60. After the recent gains, Gold broke solidly above $1,700 and traded as high as $1788 last Wednesday. We have spent the last 3 days consolidating the gains and hit $1,720 today. I said I wanted to get long the GLD if we can probe the $1710 range, and when it traded $17.04 today, I was a buyer. We are also long NEM.

BITCOIN: closed $7,780 unchanged. After we traded in the uptrend, I mentioned this weekend that I felt we would have to test 6750 and yesterday we hit 6465 before turning back up. Today’s action was a continuing move higher. While I want to add the 350, I still want to wait and see some stabilization. We still own 400 GBTC with an average of $8.06. GBTC closed $8.40 -.39 today.

Tomorrow is another day.

CAM