Yesterday was another session where we opened into weakness and shares slowly rallied throughout the day. However, the rally began to fade in the final hour and we finished just about at the lows of the day.
It's still strange to see any selloff get quickly bought - but I guess down prices and days are no longer allowed. It might hurt somebody's feelings...
Don't forget that quarter-end rebalancing is coming as we approach month end. And given the strong run in stocks this quarter, it could be a big one.
Futures are down ~1% as of the time of writing. I expect news of a vaccine or more stimulus from the White House to ensure the red doesn't hurt the President's feelings...
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1) Covid hospitalizations continue to spike in Florida - they don't report state-wide data, but this is Miami-Dade county. Probably one of the worst-hit places in the state, to be sure.
2) If you're looking for a "V" recovery, used car values have definitely V-ed. Perhaps because folks can't afford new cars without a job? Or new day traders buying second cars?
3) Amazon is a great company. It's been a great stock too. But it's quarterly share price performance might be getting a little bit parabolic...it's pretty representative of the Nasdaq, Apple, Microsoft, and the other big tech names. But there's no bubble...
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I obviously continue to fight the upward market by being generally net short. It's been a tough game to stick with. But it makes too much sense not to keep fighting the good fight - because stocks are absolutely overpriced - and by drastic margins.
But I digress.
I finally bought some Sempra yesterday while shorting Southern Company. Sempra is a Blue Chip utility and energy infrastructure company. I also added back Molson Coors (TAP) late in the day.
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I'll conclude with another note about the Lenovo Chromebook Duet. I am not one to recommend devices. Technology is very personal - we all have different needs, expectations, and pet peeves. I like a certain camera, but a photographer friend hates mine. That's ok. Same with phones - I love my Pixel 3a, but some people need an iPhone...even non-Mac users.
However, the Duet feels pretty universally great for anyone...as a secondary device. It's a bit small to be a primary device, especially if you have larger hands. But it's fast, fun, and cheap. The screen is great. If you have an iPad that you wish was more like a laptop, the Duet is perfect for you. I'm seriously loving it. It's almost my primary device, other than for my trading software, for what it's worth.
It's still strange to see any selloff get quickly bought - but I guess down prices and days are no longer allowed. It might hurt somebody's feelings...
Don't forget that quarter-end rebalancing is coming as we approach month end. And given the strong run in stocks this quarter, it could be a big one.
Futures are down ~1% as of the time of writing. I expect news of a vaccine or more stimulus from the White House to ensure the red doesn't hurt the President's feelings...
_________________________________________________
1) Covid hospitalizations continue to spike in Florida - they don't report state-wide data, but this is Miami-Dade county. Probably one of the worst-hit places in the state, to be sure.
2) If you're looking for a "V" recovery, used car values have definitely V-ed. Perhaps because folks can't afford new cars without a job? Or new day traders buying second cars?
3) Amazon is a great company. It's been a great stock too. But it's quarterly share price performance might be getting a little bit parabolic...it's pretty representative of the Nasdaq, Apple, Microsoft, and the other big tech names. But there's no bubble...
____________________________________________________
I obviously continue to fight the upward market by being generally net short. It's been a tough game to stick with. But it makes too much sense not to keep fighting the good fight - because stocks are absolutely overpriced - and by drastic margins.
But I digress.
I finally bought some Sempra yesterday while shorting Southern Company. Sempra is a Blue Chip utility and energy infrastructure company. I also added back Molson Coors (TAP) late in the day.
_____________________________________________________
I'll conclude with another note about the Lenovo Chromebook Duet. I am not one to recommend devices. Technology is very personal - we all have different needs, expectations, and pet peeves. I like a certain camera, but a photographer friend hates mine. That's ok. Same with phones - I love my Pixel 3a, but some people need an iPhone...even non-Mac users.
However, the Duet feels pretty universally great for anyone...as a secondary device. It's a bit small to be a primary device, especially if you have larger hands. But it's fast, fun, and cheap. The screen is great. If you have an iPad that you wish was more like a laptop, the Duet is perfect for you. I'm seriously loving it. It's almost my primary device, other than for my trading software, for what it's worth.
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