Retail Sales up 17%

For Trading JUNE 17th

Retail Sales +17.7%

Market Continues Higher

Smallcaps Lead the Way, Again!

Today’s market was strong from the start with Europe higher on our reversal and some good economic numbers. Retail sales were much higher than expected at +17.7% v 7.7% expected, industrial production was a little soft, but everyone ignored that, capacity utilization was 64.8% v. 64 exp, homebuilders and NAHB were both blowouts, and the White House came to the table with a $1 trillion infrastructure plan. That took us +800 at the open and while there was some weakness as Chairman Powell answered questions for the Senate, we rallied back and finished the day +526.82 (2.04%), NASDAQ +169.75 (1.75%), S&P 500 +58.15 (1.9%), the Russell +32.65 (2.3%) and the DJ Transports +99.55 (1.09%). Market internals were strong with NYSE 4.5:1, NASDAQ 3:1 and NYSE volume also 4.5:1. All 30 DJIA names were higher with AAPL the big winner +62, HD +60, UNH and BA both 46 and CAT +44 DPs. All 11 S&P sectors were higher. Leading the charge was Energy, materials, healthcare, Info tech and consumer discretionary.

We had 1 carryover trad, long CVS 6/26 $64 calls bought yesterday @ $1.25 that were partially sold at $2.50, and $2.90 leaving only a few @ 2.47 close, and we also bought some NEM 7/17 $60’s @ 1.55 that finished the day@ $1.53. A good day all around.

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/_qlygqW_hxs

SECTORS: As mentioned above we had a solid report for same store sales from MCD, but the stock, @193 at the open fell back to 187.50 before closing 190.32 +.83. We also had some soft numbers from ORCL after the stock had closed $54.59 +1.34 with a beat of $ .04 on the earnings side but disappointing revenues and it fell back to $51.70 -3.89 in after hours. Also, after the close NCLH reported extending sailing cancellations well into the fall, and after it had rallied from yesterday morning’s low to close $20.69 +97, it fell back to $18.25 -2.44. This also took CCL and RCL lower on the day. And CHK, after a post 1:200 reverse split high of $77.50 just last Monday is again talking bankruptcy and fell to close $15.36 -3.51 (18.6%). And, the HOMERUN OF THE DAY, just yesterday, URBAN-ONE (UONE) had no discernable news again, except a series of over 20 trading halts for volatility and resumed notifications and after being up 255% yesterday continued to hit a high of $40, and closing $27.19 +20.65 315.75%. The company is listed as a TV / Radio broadcast stock.

FOOD SUPPLY CHAIN was HIGHER with TSN +2.04, BGS +.13, FLO +.23, CAG +.92, MDLZ +1.42, KHC +.58, CALM +.30, JJSF +2.12, SAFM +.49, LANC -1.96, GO +1.55, HRL +.71, SJM +2.15, PPC +.18 and PBJ #31.09 +.47 (1.53%).

BIOPHARMA was HIGHER with BIIB +4.01, ABBV +3.07, REGN +2.33, ISRG +3.97, GILD +.88, TEVA +.57, VRTX +6.23, BHC +1.39, INCY +2.02, ICPT +1.25, LABU +2.12, and IBB $132.33 +1.83 (1.40%).

CANNABIS: was MIXED with TLRY -.24, CGC +.93, CRON +.21, GWPH +2.73, ACB -.31, PYX -.88, NBEV +.03, CURLF -.01, KERN -.32, and MJ $13.85 +.25 (1.84%).

DEFENSE: was HIGHER with LMT +11.72, GD +3.90, TXT +.88, NOC +12.23, BWXT +.61, TDY +2.85, RTX +1.05, and ITA $175.34 +3.29 (1.91%).

RETAIL was HIGHER with M +.37, JWN +2.18, KSS +1.79, DDS +2.51, WMT +1.70, TGT +1.10, TJX +3.40, RL +2.68, UAA +.43, LULU +7.45, TPR +.63, CPRI +1.23 and XRT $43.06 +1.23 (2.94%).

FAANG and Big Cap: were HIGHER with GOOGL +32.31, AMZN +50.32, AAPL +9.76, FB +3.69, NFLX +10.98, NVDA -3.57, TSLA -11.90, BABA +6.42, BIDU +6.18, CMG +8.55, CAT +7.76, BA +3.50, DIS +1.88, and XLK $102.51 +2.14 (2.13%).

FINANCIALS were HIGHER with GS +4.97, JPM +.71, BAC +.58, MS +1.00, C +1.22, PNC +2.02, AIG -.14, TRV +1.72, AXP +2.05, V +2.01 and XLF $24.54 +.38 (1.57%).

OIL, $3738.38 +1.26. Oil was under pressure early but turned up and finished the day near the high of the day. The stocks were higher with XLE $41.09 +1.15 (2.88%).

GOLD $1737.50 +9.30. It was another short-range day closing in the middle of the range. The yellow metal is unchanged tonight. We bought back the 3rd and final lot of NEM @ $58.86. And, we also added a half position in NEM 7/17 60 calls @ $1.55.

BITCOIN: closed $9,530 + 90. After trading another short-range day we finished mid-range and slightly 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 $10.91 + .02 today.

Tomorrow is another day.

CAM