There's an old Wall Street adage: Stocks take the escalator up, and the elevator down.
 | 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. There's an old Wall Street adage: Stocks take the escalator up, and the elevator down. The past two trading days have been an elevator move, with the largest two-day point drop (but not percentage drop) on record.
While it may be tempting to give into the fear, remember that stocks had gotten overbought to begin with. The coronavirus fears have been the biggest movers of the market so far this year, but at some point, it will be in the distant past, like the Ebola scare in 2015… or even the trade war fears that impacted markets throughout the last two years.
| | | | | |
| | |  | DOW 27,081.36 | -3.15% | | | | S&P 3,128.21 | -3.03% | | | | NASDAQ 8,965.61 | -2.77% | | | | | *As of market close | | | • | Stocks had a big slide for a second day in a row, on coronavirus fears. | | | • | Oil prices dropped 2.6 percent, closing at $50.10 per barrel. | | | • | Gold prices dropped 2.4 percent as well, hitting $1,637 per ounce. | | | • | Cryptocurrencies likewise declined, with Bitcoin sliding 3 percent to $9,362. | | | | | | | |
| | | Two Restaurant Stocks Feeding Investors Solid Profits | | | | It's no surprise that dining out has become a great American pastime. Taking away the stress of home cooking, meal planning, and more importantly, the time involved, it's easy to see why more and more Americans are dining out.
That trend is likely to continue for the foreseeable future.
And while starting a new restaurant idea from scratch can be a tough business, established chains have been doing well the past few years. We expect that trend to continue.
» FULL STORY | | | | | s
| | Insider Trading Reports: Bunge (BG) | | | | Gregory Heckman, CEO at Bunge (BG) recently bought 37,180 shares. That buy increased his holdings by nearly 40 percent. The cost of the purchase came to just under $2 million.
He was joined by director Erik Fyrwald, who bought 3,750 shares. His total buy came to just under $200,000, and he increased his holdings by nearly 55 percent.
This comes on top of insider buying by the company CFO in the prior week.
» FULL STORY | | | | |
| | Unusual Options Activity: United Parcel Service (UPS) | | | | With the global economy set to slow thanks to the coronavirus, traders are hedging their bets. One is betting that United Parcel Service (UPS) will continue to decline from here.
That's based on the 15-fold rise in volume on the April $97.50 put options. From 320 open contracts, over 4,900 recently traded hands.
The bet expires in 51 days. It is less than one dollar out-of-the-money thanks to the current share price just over $98.30.
» FULL STORY | | | | |
| | | | TOP | | | IPO | 5.656% | | | | XRX | 4.59% | | | | REGN | 3.989% | | | | KEYS | 3.048% | | | | PRGO | 2.685% | | | | BOTTOM | | | AAL | 9.155% | | | | OXY | 8.333% | | | | LUV | 8.224% | | | | LYV | 8.014% | | | | MAR | 7.973% | | | | |
| | |  | | Imagine trying to quarantine a large city in the USA for a month, similar to how the Chinese have shut down Wuhan, or the way the Italians are trying to ring-fence 10 towns near Milan. Our working hypothesis is that it wouldn't work, and could cause panic on a scale that would spook markets. | | - Jefferies equity strategist Simon Powell on how a coronavirus outbreak in the United States would play out differently than in countries currently experiencing an issue. | |
|
No comments:
Post a Comment