For Trading August 14th

For Trading August 14th

TSLA $1,645 + 91.24 (6%)

GOLD / SILVER Recover

BIDU GIVES POOR GUIDANCE

Today’s market got off to a slightly higher start on the combination of continuing claims and initial claims numbers and the report of higher import and export prices. The DJIA traded in a narrow range and finished midrange and -80.12 (.29%), the NASDAQ was higher all day hitting a high of +112 but gave back much of the gain closing +30.26 (.27%), S & P 500 -6.92 (.20%), the Russell -3.46 (.22%), and DJ Transports -49.62 (.45%) but still putting in a good show for the week. Market internals were soft with NYSE 1.5:1 and NASDAQ 1.3:1, both Down. Volume was lighter than yesterday.

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 3000 members. I also did this video over the weekend on a day-trade, (actually 2) that I made in AAPL on Friday. I think it’s highly informative as a guide to under what conditions these kind of trades in expiring options make sense. The link is https://youtu.be/qIV0G-hP3aM Enjoy!!

Tonight’s closing comment video: https://youtu.be/a3e7lR_AR8U Today’s Video on the Coffee/ JO trade: https://youtu.be/JGFQ8iM8CPc

SECTORS: There really wasn’t much in the way of news today, with the exception of the California Court of Appeals denying the TRO from both UBER and LYFT on the classification of drivers as employees instead of contractors. Both have threatened to halt their services which account for about 16% of their revenues just in California. LYFT reported yesterday and the stock was down from a high of $31.62 to close today $28.83 -1.64 (5.37%) and UBER, which has fallen from a high of $34.79 a week ago to close the day today $30.46 -.38 (1.23%) but down 12% for the week. As mentioned before, CSCO reported a poor showing and last night it was $44.47, but it continued today and finished $42.72 -5.38 (11.2%). AMAT beat on revenues and earnings and gave solid guidance and after closing $65.07 – 1.43 it reversed higher and is $67.37 +2.30, and BIDU beat on earnings but with only in-line revenues and gave a warning about ad revenues in the coming quarter. It closed $124.57 -1.54 (1.22%) but is now trading $115.32 -9.25 (7.25%). FOOD SUPPLY CHAIN was MIXED with TSN -1.11, BGS -.06, FLO -.14, CPB +.22, CAG -.14, MDLZ -.02, KHC +.22, CALM Unchanged, JJSF -.28, SAFM -1.14, HRL +.09, PPC +.07, SJM +.57, KR +.16, and PBJ $33.94 +.05 (.15%).

BIOPHARMA was LOWER with BIIB -4.72, ABBV -.51, REGN -1.46, ISRG +7.47, GILD -.61, MYL +.02, TEVA -.07, VRTX -3.70, BHC -.20, INCY +1.38, LABU +2.32, and IBB $134.11 +.30 (.22%). CANNABIS: was MIXED with TLRY +.21, CGC +.08, CRON -.01, GWPH -.52, ACB +.45, NBEV +.08, CURLF -.10, KERN -.22, and MJ $13.07 +.29 (2.27%).

DEFENSE: was LOWER with LMT -3.20, GD -.10, TXT -.80, NOC -.78, BWXT -.40, TDY +.35, RTX -.29, and ITA $169.95 -.97 (.57%).

RETAIL: was MIXED with M -.03, JWN +.40, KSS -.18, DDS +.21, WMT +.55, TGT +.49, TJX -.52, RL +.32, UAA -.17, LULU +4.96, TPR -.09, CPRI -.30, and XRT $51.23 +.17 (.33%).

FAANG and Big Cap: were HIGHER with GOOGL +10.75, AMZN +4.26, AAPL +7.86, FB +2.62, NFLX +6.53, NVDA +1.59, TSLA +80.24, BABA -2.36, BIDU -10.28, CMG +37.02, BA -.14, CAT -1.57, DIS -.70, and XLK $113.96 +.05 (.04%). PLEASE BE AWARE THAT THESE PRICES ARE LATE MARKET QUOTES AND DO NOT REPRESENT THE 4:00 CLOSES.

FINANCIALS were LOWER with GS -3.33, JPM -.39, BAC -.33, MS -.17, C -.30, PNC -.99, AIG -.23, TRV +.41, AXP -1.14, V -.44, and XLF $25.08 -.16 (.63%).

OIL, $42.24 -.43. Oil was higher in last night’s trading before we rallied in the morning on news of production cutbacks from Iraq. The stocks were LOWER with XLE $37.83 -.75 (1.94%).

GOLD $1,970.40 +21.40 was a dramatic sell-off taking the gold down as low as $1,874.00 before a rally back to $1,975. While I like the gold down here, I will have to see how it trades for a day or two. I am still a bull on the metal.

BITCOIN: closed $11,590 -75. After breaking out over $10,000 we have had a “running correction” pushing prices toward $12,000, reaching a recovery high of $12220 yesterday. We had added 350 shares of GBTC @ $10.02 to our position of 400 @ $8.06, bringing our average price to $8.97, but sold 250 shares today @ $13.93. GBTC closed $13.09 -.02 today.

Tomorrow is another day.

CAM