It was a two-way market today.
We dropped down to fill the gaps on the indices.
Then we headed back uphill.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
It was a two-way market today.
We dropped down to fill the gaps on the indices.
Then we headed back uphill.
by David
The largest insider transaction on today’s list comes in a Form 4 filed by Low Check Kian, director of Broadcom Inc $AVGO.
Kian reported a purchase of 11,000 AVGO shares, equivalent to roughly $9.5 million.
by David
From the Desk of Kimmy Sokoloff
September 11: Never forget.
We have a big week ahead of us, and the indices are indicating higher this morning.
by David
From the Desk of Kimmy Sokoloff
We saw a decent bounce from the start of the day and then the market sat idle.
$SPY needs to be above 446.80 to really get going higher.
From the desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
Our Hall of Famers list is composed of the 150 largest US-based stocks.
These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.
It has all the big names and more.
It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that. Click here to check it out.
The Hall of Famers is simple.
We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.
Let’s dive right in and check out what these big boys are up to.
by David
The largest insider transaction on today’s list comes in a Form 4 filed by Broadwood Capital.
The hedge fund revealed a purchase of $7.8 million in STAAR Surgical Company $STAA, increasing its ownership stake to 18%.
by David
From the Desk of Kimmy Sokoloff
It’s been a very bumpy week, and now we need to see if the indices are going to head higher from here or pull in more.
$SPY support is at 440.
by JC
Stocks are messy these days.
The major indexes peaked in July and the new 52-week highs list topped out almost 2 months ago.
This is all perfectly normal market behavior for this time of the year. In fact, if markets were behaving any differently, then THAT would actually be unusual.
Just like over the past 3 quarters. If stocks didn’t do as well as they did, again, that would have been weird.
The market continues to behave according to historical trends, obnoxiously so.
And to be clear, it’s when the market ignores seasonal tendencies that we want to pay more attention, because THAT is the signal.
In the meantime, we’re just chugging along in one of the more normal years for the market that we’ve ever seen.
So during this messy Q3 period of the pre-election year, with the indexes stuck below overhead supply, volatility is higher than it’s been in a while, especially among Consumer Staples stocks.
So what should we do in a directionless market, with higher than average volatility?
Give the people what they want!
Sell them the Calls, AND sell them the puts too!
Collect that cash baby!
So that’s exactly what we did.
We sold a strangle in Philip Morris betting that this messy market remains messy over the next month or so: [Read more…]