Jobs Postings Improve In Spite Of COVID-19 Looming
Job Postings Keep Improving In the week of November 6th, job postings were down 13% year over year as you can see from the chart below. Recovery hasn’t stopped despite COVID-19 hospitalizations passing the summer high. Interestingly, we’re starting to see news outlets call this the 2nd wave. If deaths materially get above the summer peak,…
SPY Option Bears Come Out of Hibernation
SPY Unusual Option Activity Report The market has had a good week and tested the upper end of this weeks expected move. The big move came following Pfizer’s vaccine news on Monday. Since that time, the price has stagnated and may look to retrace. Entering next week. As the price flounders near extremes, unusual option…
Pfizer Insiders Lining Up to Sell After Vaccine Announcement
Pfizer Inc (NYSE: PFE) Insider Report Pfizer made huge waves on Monday on the announcement that their vaccine was 90% effective among volunteers with no prior COVID infections. In the Northern Hemisphere where COVID cases have jumped significantly, that is a huge announcement. You would think that being the first to produce a workable vaccine…
Reopening Trade Continues
Trend Continues Tuesday was a continuation of Monday for the stock market as the stocks that benefit from a reopening of the economy rallied and the secular growth stocks fell. It is being called the ‘great rotation’. Some traders think it is overhyped. However, they are missing the situation at hand. The market will look…
Market Is Focused On 2021 Recovery
Redbook Same Store Sales Growth Falls The economy is faced with higher COVID-19 cases and no stimulus. Good news is the labor market is improving. Question is how much it can improve in the face of rising cases, hospitalizations, potential shutdowns, and changes to behavior. This economy dealt with the spike in cases in the…
Vaccine Causes Massive Sector Rotation
Vaccine Causes A Frenzy Monday was the craziest factor day of the year. It was one of the craziest factor days ever on multiple fronts. Even though the action was shocking, it’s what you’d expect given the news. Prior to Monday, the COVID-19 situation looked grim. Currently, there are 59,275 people in the hospital because…
No Double Dip Recession?
Job Cuts Fall There were many media reports about new job cuts in October. Thesis was that we are entering into another wave of weakness like the spring. In hindsight, it’s not surprising the economy didn’t enter into a sharp slowdown because it didn’t in July when COVID-19 was worse. To be clear, COVID-19 is…
Best Election Week For Stocks Since 1932 FDR
Unchanged Large Caps (Great Week) Large caps barely moved on Friday as we ended a very strong week. S&P 500 and Nasdaq were up 7.3% and 9% this week as they had their best week since April. This was the biggest election week gain since FDR was elected in 1932. That only occurred because of…
Solid October Labor Report - Private Sector Job Creation Accelerated
ADP Wrong Yet Again ADP report was too negative again. October jobs report was very solid. Job creation in September was revised up from 661,000 to 672,000. Even better, private sector job creation was revised up by 15,000 to 892,000. Furthermore, in October there were 638,000 jobs added which beat estimates for 575,000. Private sector…
Cannabis Becomes Big Post-Election Winner
Cannabis New Highs Across the country there was cannabis ballot initiatives that voters had a chance to cast their ballots on. In every instance, the voice of the people opted to expand the use of cannabis in their state. The ballot initiatives include for both recreational use and medicinal use. A good example of the…
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