Monday, July 6, 2020

For Trading July 7th

TSLA +45% IN A WEEK

New Records for NASDAQ

Today’s market got off to a roaring start with the carryover strength from our missed Friday and solid results in European and Asian markets. There were buyers in the big 5 names, like there have been everyday for the past month propelling the averages higher. The DJIA was a rather short-range day at just under 300 DP’s but finished +459.67 (1.78%), NASDAQ +226.02 (2.21%), S&P 500 +49.71 (1.59, the Russell +11.02 (.77%) and the DJ Transports +151.24 (1.64%). Market internals were 10:1 early but settled in to finish 2.2:1 on the NYSE and 2:1 on NASDAQ. The DJIA finished 28:2 with the leaders, as expected, GS +68, AAPL +67, BA +49 and several in the +32 to 34 DP’s. ISM numbers were back in expansion territory @ 57.1 vs. 49 est. and May’s 45.4. ​​

We sold the CVS calls this afternoon since it has continued to underperform, and the NEM 7/17 $60’s @ 1.55 and added to last Friday @ $1.30 for an average of $1.47 triggered a 100% Up Rule sale at $2.94 this morning. They closed today $2.40. We also added a position in SLV 8/21 17 calls @ $ .74, and they closed $ .76, and we also added a NEM bull spread using the August 65 / 70 calls @ $1.30.

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 highly 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/YpVpmI9-3Q4

SECTORS: The UBER purchase of Postmates (shopping and delivery service) for $2.65 billion was a positive for the stock, closing $32.52 +1.84 (6%), and the Berkshire purchase of Dominion Resources (D) was good for a gain of 2.43% for BRK but Buffett must have made a very good deal because D finished the day $73.59 -9.10 (11%). Workhorse (WKHS), a company that is manufacturing electric delivery vans, and was under $3 on June 1st followed with an 11-day move to $22.90, finally succumbed to gravity and fell back to close $17.61 -3.30 (15.78%) and fell to $16.01 in late trading to finish -4.90 on the day. FOOD SUPPLY CHAIN was HIGHER:
FOOD SUPPLY CHAIN

TSN 59.45 1.02

BGS 24.85 0.48

FLO 22.05 -0.15

CPB 49.31 -0.01

CAG 35.54 0.13

MDLZ 51.62 0.13

KHC 32 0.19

CALM 45.09 0.58

JJSF 124.99 1.41

SAFM 113.28 1.78

HRL 47.99 -0.09

SJM 105.87 0.85

PPC 16.75 0.02

KR 33.73 0.23

PBJ 31.5 0.29 0.92%

BIOPHARMA was MIXED: BIOPHARMA

BIIB 269.8 4.68

ABBV 99.01 0.14

REGN 627.25 4.8

ISRG 584.64 4.16

GILD 76.76 0.41

MYL 16.54 0.61

TEVA 11.52 0.17

VRTX 291.31 0.21

BHC 19 0.66

INCY 107.79 1.32

ICPT 46.1 -0.99

LABU 60.79 -0.03

IBB 139.44 0.9 0.65%

CANNABIS: was LOWER:

CANNABIS

TLRY 7.85 0.89

CGC 16.94 0.49

CRON 6.45 0.28

GWPH 126.53 1.18

ACB 12.18 -0.09

CURLF 5.85 -0.07

KERN 8.22 0.01

MJ 13.09 0.17 1.30%

DEFENSE: was HIGHER: DEFENSE

LMT 362.59 0.59

GD 148.47 1.17

TXT 33.22 0.77

NOC 312.4 2.43

BWXT 55.99 -0.05

TDY 304.79 6.34

RTX 63.32 1.53

ITA 166.42 2.83 1.70%

FAANG and Big Cap: were HIGHER: FAANG AND BIG CAP

GOOGL 1499.65 29.72

AMZN 3057.04 166.74

AAPL 373.85 9.74

FB 240.28 6.86

NFLX 493.81 16.92

NVDA 393.57 9.08

TSLA 1371.58 162.92

BABA 240 16.59

BIDU 132.93 9.63

CMG 1125.92 69.47

CAT 129.43 1.6

BA 187.91 7.14

DIS 114.43 2.25

XLK 107.11 1.84 1.72%

FINANCIALS were HIGHER: FINANCIALS

GS 207.36 9.96

JPM 95 2.34

BAC 23.66 0.38

MS 48.82 1.03

C 51.97 1.43

PNC 103.35 1.2

AIG 30.74 0.81

TRV 114.57 2.14

AXP 96.58 2.26

V 197.76 2.09

XLF 23.41 0.44 1.88%

OIL, $40.62 -.02: FINANCIALS

GS 207.36 9.96

JPM 95 2.34

BAC 23.66 0.38

MS 48.82 1.03

C 51.97 1.43

PNC 103.35 1.2

AIG 30.74 0.81

TRV 114.57 2.14

AXP 96.58 2.26

V 197.76 2.09

XLF 23.41 0.44 1.88%

GOLD $1,793.50 +3.50: GOLD

NEM 61.18 0.22 SLV 17.05 0.34 GLD 167.98 1 GDX 36.84 0.67 GDXJ 50.42 1.29 WPM 44.36 1.07 Bitcoin 9337.87

GBTC 9.94 0.57

BITCOIN: closed $9,355 +295. After trading back to 8985 we rallied back to close – only $5. Since last week we have closed between 9200 – 92.85 every day with narrow ranges and today was a good start to move higher. A break over 10,000 still sends us higher. We added 350 shares of GBTC last Wednesday @ $10.02 to our position of 400 @ $8.06, bringing our average price to $8.97. GBTC closed $9.93 +.56 today.

Tomorrow is another day.

CAM



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