For Trading April 30th
OIL Moves Higher
GOOGL, TSLA, & MSFT Blow Away Numbers
Russell the Big Winner
Today’s market got off to a dramatic start when already +200 in the futures, GILD came out with positive news on the NIAID trial for Remdesivir and we added an additional 250 to the open. The Fed FOMC was a nonevent, but after the Q&A, it became obvious that the money train would keep rolling, the Gold moved higher. The final numbers were impressive with DJIA +532.31 (2.21%), NASDAQ +306.98 (3.57%), S&P 500 +76.12 (2.66%), the Russell, the big winner +62.68 (4.83%) and the DJ Transports +221.30 (2.63%). Market internals were strong with NYSE 7:1 and NASDAQ 4:1 and for the first time in recent memory, volume was higher. The DJIA was 24:6 with WMT the only double-digit loser -30 DPs while on the upside we had V +72, AAPL +62, AXP & BA +53, and MSFT +52 (and more coming in the morning).
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/el59hhpILHY
SECTORS: Earnings played a big part in today’s market. After the close last night, we heard from Google and it was a beat on revenues and after closing $1232.59 -38.27 and finished the evening $1267 +35. It continued higher today and finished $1345.02 +112.43 (9.12%). After today’s close we heard from a few of the other FAANG names. FaceBook was a miss both top and bottom but the guidance they gave on ad spending was upbeat. After closing 194.19 +11.28 it to 214.57 + another $20. MSFT beat on both numbers and after closing $177.43 +7.62 it shot higher to 186.52 before closing $181.25 + 3.82. TSLA was the last one to report and the stock has been on a tear from a low of $350 in mid-March to close today $800.51 +31.39 and put out a profitable quarter and talked about it big truck. The stock moved to $886.89 and closed $870.30 for a total gain of $101.88 (13.25%).
And, the HOMERUN OF THE DAY is clearly Capricor Therapeutics (CAPR) reported that it had a 100% survival of its patients treated with CAP-1002. All were in deep respiratory distress and 5 of the 6 were on ventilators. Four of the six have already been discharged. The stock, which has been reversed twice, most recently 1:10, and the last time 1:50 finished the day $8.50 +6.09 (252.7%) Clearly a home run. But with a side note since the adjusted high after both reverses is $2,720. Quite a destroyer of equity.
FOOD SUPPLY: was LOWER with TSN +.74, BGS -.75, FLO -.47, CAG -.19, MDLZ -.55, KHC +.81, CALM -.79, JJSF +10.71 (8.48%), SAFM -3.43, and LANC +3.09.
BIOPHARMA: was HIGHER with BIIB -.46, ABBV +1.20, REGN -17.26 (3.27%), ISRG +16.27 (3.23%), GILD +6.37, MYL +1.06, TEVA +.36, VRTX +1.54, BHC +.95, INCY -1.71, ICPT +1.07, LABU +1.36, and IBB $126.55 +1.74 (1.39%).
CANNABIS: This group was HIGHER with TLRY +.18, CGC +.46, CRON +.06, GWPH -.18, ACB +.01, PYX +.03, NBEV +.03, CURLF +.30 (6.67%), KERN -.21 and MJ $12.44 +.18 (1.47%).
DEFENSE: was HIGHER with LMT +8.17, RTX +3.39, GD +.71, TXT +1.48, NOC -12.70, BWXT -.07, TDY +12.71 and ITA $161.85 +7.91 (5.14%).
RETAIL was HIGHER with WMT the big loser again -3.89 (3.04%), M +.26, JWN -.02, KSS +.66, DDS -.45, JCP -.017, TGT +.85, TJX +4.90 (9.98%), RL +2.53, UAA +.19, LULU +7.96, TPPR +1.24 (7.7%), CPRI +1.68 (11.17%), and XRT $37.92 +1.10 (2.99%).
FAANG and Big Cap: were HIGHER with GOOGL +112.43 (9.12%), AMZN +104.12 (4.5%), AAPL +13.72 (4.92%), FB +31.66 (17.31%), NFLX +8.68, NVDA +9.44, TSLA +101.80 (13.25%), BABA +7.15, BIDU +3.12, CMG +26.64, BA +9.65, CAT +5.28, DIS +6.51 (6.13%) and XLK $93.45 +5.25 (5.95%).
FINANCIALS were HIGHER with GS 5.49, JPM +3.71, BAC +1.31, MS +1.43, C +4.04 (8.56%), PNC +5.00, AIG +2.52 (9.97%), TRV +1.72, AXP +9.16 (10.39%), V +13.74 (8.02%) and XLF $23.38 +.66 (2.9%).
OIL, $15.06 +2.72. Oil was higher again today and seems to be making a decent show of making an important bottom. Tonight, it is higher again trading 15.95 +.89. The stocks were also much higher with gains of between 6% on the big names and as much as 30% on some of the small ones. XLE closed $39.95 +3.77 (5.63%).
METALS, GOLD: $1,713.40 -8.80. 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 yesterday I was a buyer. We took the downside move this morning and averaged down @ $1.06, and they closed $1.61. We are also long NEM.
BITCOIN: closed $8825 +1045. 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 $9.60 +1.20 today.
Tomorrow is another day.
CAM
No comments:
Post a Comment