The coronavirus fears have led to one of the fastest market declines in history. In the span of one week, the market has slid nearly 12 percent, hitting correction territory.
 | You're receiving this email because you are subscribed to Trading Tips,
if you no longer wish to receive these emails you can unsubscribe here. | |  | | |
| |  Good morning. The coronavirus fears have led to one of the fastest market declines in history. In the span of one week, the market has slid nearly 12 percent, hitting correction territory.
On a technical basis, things look even worse. Shares have gone from trading over their 50-day moving average to testing the 200-day moving average. We expect the market decline to slow after the recent beating, and start to trade in a range until the fears subside. But if the market closes materially lower from that average, stocks could be in for a painful time.
| | | | | |
| | |  | DOW 25,766.64 | -4.42% | | | | S&P 2,978.76 | -4.42% | | | | NASDAQ 8,566.48 | -4.61% | | | | | *As of market close | | | • | Stocks slid in the morning, nearly recovered, then closed at session lows, as the coronavirus scare remained rampant. | | | • | Oil prices slid 4.9 percent, closing at $46.34 per barrel. | | | • | Gold prices rose 0.2 percent, hitting $1,646 per ounce. | | | • | Cryptocurrencies were mixed, with Bitcoin dropping 0.5 percent to $8,784. | | | | | |
| | | Two High-Dollar Stocks to Buy Now | | | | There's a big difference between price and value. A $10,000 stock can be cheap, and a penny stock can be expensive.
Nevertheless, many investors and traders tend to avoid high-priced shares. While it may be difficult to build a position there, many companies with a high price tag still offer a good value.
By buying a few names that have seen a drop lately, investors can set themselves up to continue profiting from these high-priced plays.
» FULL STORY | | | | |
| | Insider Trading Report: Sealed Air Corp (SEE) | | | | Edward Doheny, President and CEO of Sealed Air Corp (SEE), recently picked up 7,500 shares. The buy increased his stake by nearly 3.5 percent to just over 222,780 shares. In total, the pickup cost just over $250,000. This is the second buy from insiders in the past month, following a 15,000 share pickup from a director. Insider data over the past three years shows a number of both insider buys and sells at a variety of price points.
» FULL STORY | | | | |
| | Unusual Options Activity: Micron (MU) | | | | $35 call options with an April expiration on Micron Technology (MU) recently saw a 40-fold rise in volume. The option went from 101 open contracts to over 3,900.
The bet, expiring in 49 days is unusual in that this trade made a deep in-the-money bet. With shares around $54, the option is about $19 in-the-money, and should move dollar-for-dollar with shares.
The trader also paid about $19 to get into the trade, so there's nearly no time premium.
» FULL STORY | | | | |
| | | | TOP | | | PWR | 6.311% | | | | APA | 2.62% | | | | HBI | 1.5% | | | | AOS | 1.313% | | | | BWA | 1.258% | | | | BOTTOM | | | FLIR | 17.868% | | | | PRGO | 14.269% | | | | TSLA | 12.815% | | | | CMG | 10.828% | | | | HFC | 10.061% | | | | |
| | |  | | Our reduced profit forecasts reflect the severe decline in Chinese economic activity in 1Q, lower end-demand for US exporters, disruption to the supply chain for many US firms, a slowdown in US economic activity, and elevated business uncertainty. | | - Goldman Sachs chief U.S. equity strategist, David Kostin, explaining why the investment bank expects zero corporate growth this year.  | |
|
No comments:
Post a Comment