Fed’s Comments Keep Bears in Control

The stock market showed continued weakness on Wednesday with the majority of the major indexes falling for the third-straight session. The Fed’s Beige Book helped fuel bearish sentiment following comments that the U.S. economy slowed in August as concerns grew over how the renewed surge of coronavirus cases would affect the economic recovery. The Russell […]

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Extreme Option Profits Chart of Day…Moderna (MRNA)

While MRNA is above $400, it still offers a good deal of opportunity, as the pandemic gets worse.  At the moment, about 160,000 Americans are testing positive for CV-19 every day.  Worse, according to former US FDA Chief Scott Gottlieb, the Northeast could experience another jump in cases tied to the delta variant.  “I think […]

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Market Mixed as Volatility Rises

The stock market was mostly lower to start the shortened week as Wall Street monitors the end of pandemic-era jobless benefits and its impact on the labor market. Tech outperformed but was choppy throughout the session after trading on both sides of the ledger. Industrials and Utilities were the weakest sectors after falling 1.7% and […]

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Jobless Claims Fuel Ongoing Momentum

The stock market set another round of record highs on Thursday following better-than-expected jobs data and a boost in energy stocks. Specifically, initial claims for state unemployment benefits dropped 14,000 to 340,000, the lowest level since mid-March 2020. Meanwhile, the energy sector jumped over 2% while reversing most of the losses suffered during the previous […]

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Extreme Option Profits Chart of Day…Li Auto (LI)

Take a look at Li Auto (LI). After bouncing from double bottom support, the stock is beginning to break higher, and could retest prior resistance around $35 a share.  If it can break above that point, the stock could potentially rally to $37.50.  Helping, Bank of America analyst Ming Hsun Lee just raised the firm’s […]

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Nasdaq Hits Another Record High

Nasdaq

The stock market showed continued strength on Wednesday as better-than-expected economic news once again fueled momentum. ISM manufacturing gauge edged up 0.4 ticks to 59.9 in August while construction spending rose 0.3% in July. The small-caps led the way higher followed by Tech with both rising for the third time over the past four sessions. […]

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Consumer Confidence Weighs on Market

The stock market was mostly lower on Tuesday following disappointing economic news, but still posted nice gains for August. Specifically, consumer confidence sank -11.3 points to 113.8 in August, another big miss, following the -3.8 point drop to 125.1 in July. The small-caps showed strength despite the overall pullback with volatility edging slightly higher after […]

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Extreme Option Profits Chart of Day…Advanced Micro Devices (AMD)

Investors may want to buy the pullback in Advanced Micro Devices (AMD).  After pulling back from $122.49, the AMD stock found support around $105, and is just beginning to push higher.  Helping, Goldman Sachs just reiterated a buy rating on the stock after hosting investor meetings with the company.  BMO Capital analysts also upgraded AMD […]

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Bulls Continue Record Run

The stock market was mixed on Monday with Tech and the broader market staying hot while the blue-chips and small-caps slumped. Real Estate and Technology were the strongest sectors after rising 1.2% and 1.1%, respectively. Financials were the weakest sector after falling 1.4%. Volatility stayed slightly elevated throughout the first half of action before easing […]

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Fed Speak Soothes Wall Street

Federal Reserve

The stock market bounced back on Friday to close out a solid week after Fed Chairman Powell signaled caution over any eventual decision to raise interest rates as he continued a wait and see approach on further progress made in the economy.   Powell offered no indication on when the central bank plans to cut […]

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