For Trading August 25th
XOM, PFE, & RTX DROPPED FROM DJIA
More New Highs for NAZ & S&P-500
TSLA TOPS $2,100!!
Today’s market was higher from the start and leveled off around +240 -250 until the last 45 minutes when it powered higher into the close finishing +378.13 (1.35%), NASDAQ +67.92 (.60%), S&P 500 34.12 (1%), The Russell +15.90 (1.03%), and the big winner the DJ Transports +208.17 (1.9%). Internals were positive at 2.5:1 NYSE and 1.4:1 on the NAZ with NYSE volume 5:1 UP ! The DJIA was 5:1 higher and this will be the last time that AAPL will affect the average at the rates of the past since it is price-weighted and AAPL will no be a $100 stock, not $500. The only big loser today was UNH falling $36 DP’s and the gainers BA +74, AAPL +41, and GS +33 DP’s.
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/eMCD4wjOVh4
SECTORS: While it isn’t necessarily my focus, it’s difficult to not key in on TESLA breaking $2,100 today, trading $2129 and then selling off to $1927 before turning back up to close $2014 -35.78 (1.75%). A week ago, someone in the Discord room asked what I thought, and I gave them an opinion that once we closed over $1,643 that we were headed directly to $2,000-2,100 on a straight shot. I really had a high degree of certainty but thought it would take more than 7 trading days to get to that range! The “possible” vaccine news this morning lit a fire under the airlines; AAL +1.28 (10.5%), DAL +2.53 (9.28%), LUV +2.22 (6.4%), and UAL +3.28 (9.9%). Next were the cruise lines with CCL +1.49 (10%), RCL +2.90 (4.7%), and NCHL +1.18 (7.6%). Personally, I don’t see these names holding up with DAL announcing that unless they get further financial assistance that they will have to fire an additional 1941 pilots. These guys just want us to foot the bill for their disgraceful actions when they could have been preparing for a downturn rather than just lined their own pockets and bought back stock.
PaloAlto Networks beat both top and bottom lines but gave soft guidance on next quarters revenues and after closing $267.07 -2.26 it fell further to $254.68 -12.77 (4.7%). The big news on the DJIA is that Dow Jones is making 3 major changes. I could be wrong, but I don’t think I’ve ever seen more than one at a time, but here are the names: Salesforce (CRM) replaces XOM, Amgen (AMGN) replaces Pfizer (PFE), and Honeywell (HON) replaces Raytheon (RTX) which also includes UTX.
FOOD SUPPLY CHAIN was HIGHER with TSN +.67, BGS +.44, FLO +.23, CPB +.15, CAG +.44, MDLZ +.51, KHC +.67, CALM -.63, JJSF +3.45, SAFM +.01, HRL -.05, SJM +1.15, PPC +.38, KR +.15, and PBJ $34.31 +.15 (.44%).
BIOPHARMA was LOWER with BIIB -.51, ABBV -.26, REGN -10.72, ISRG +2.05, GILD -.48, MYL +.34, TEVA -.14, VRTX -3.78, BHC +.61, INCY -.07, ICPT -.71, LABU -3.91, AND IBB $131.60 -1.00 (.75%).
CANNABIS: was HIGHER with TLRY +.10, CGC +.33, CRON +.18, GWPH -3.04, NBEV -.10, CURLF +.47, KERN unch., and MJ $12.40 unch.
DEFENSE: was HIGHER with LMT +5.43, GD +3.29, TXT +1.69, NOC +6.14, BWXT +1.51, TDY +6.52, RTX -.22, and ITA $169.39 +5.27 (3.21%).
RETAIL: was HIGHER with M +.36, JWN +1.15, KSS +1.54, DDS +2.13, WMT -.31, TGT -.56, TJX +1.32, RL +3.37, UAA +.51, LULU +7.56, TPR +.81, CPRI +1.36, and XRT $52.88 +.92 (1.77%).
FAANG and Big Cap: were HIGHER with GOOGL +10.13, AMZN +22.78, AAPL +8.62, FB +4.69, NFLX -3.51, NVDA +1.91, TSLA -49.96, BABA +11.20, BIDU +.74, CMG -9.84, BA +11.00, CAT +3.45, DIS +3.26, and XLK $118.96 +1.02 (.86%). PLEASE BE AWARE THAT THESE PRICES ARE LATE MARKET QUOTES AND DO NOT REPRESENT THE 4:00 CLOSES.
FINANCIALS were HIGHER with GS +5.22, JPM +2.93, BAC +.76, MS +1.31, C +1.84, PNC +3.51, AIG +1.25, TRV +3.07, AXP +3.83, V +2.47, and XLF $24.89 +.58 (2.39%).
OIL, $42.62 +.28. Oil was higher in today’s trading before we rose further in the afternoon closing up at the top end of the day’s range. The stocks were HIGHER across the board with XLE $37.02 +.99 (2.75%).
GOLD $1,939.20 -7.80, rose early in the session trading up thru the double tops at $1,963.10 to $1,970 before selling off and finishing near the lows. I am still a bull on the metal, and we have a September bull call spread on using NEM 65/70 calls with a cost of $1.45, which closed today @ $1.66.
BITCOIN: closed $11,770 +75. After breaking out over $10,000 we have had a “running correction” pushing prices toward $12,000, reaching a recovery high of $12220 Thursday, and after a day of rest in between, we resumed the rally touching $12,635. We had 750 shares of GBTC and sold off 250 last week at $13.93 and still have 500 with a cost of $8.45. GBTC closed $13.72 + .14 today.
Tomorrow is another day.
CAM
No comments:
Post a Comment