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Starbucks on Thursday reported that sales in the U.S. and China are recovering from the coronavirus pandemic more quickly than expected, helping global same-store sales shrink just 9%.

The global coffee chain’s sales have been boosted by customers spending more on their Pumpkin Cream Cold Brew and Frappuccinos, although foot traffic remains down. The company’s outlook for fiscal 2021 is projecting a faster rebound than expected by analysts.

Shares of the stock initially rose after the report, but were now down about 1%.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: 51 cents, adjusted, vs. 31 cents expected
  • Revenue: $6.2 billion vs. $6.06 billion expected

Starbucks reported fiscal fourth-quarter net income of $392.6 million, or 33 cents per share, down from $802.9 million, or 67 cents per share, a year earlier.

Excluding items, the coffee chain earned 51 cents per share, beating the 31 cents per share expected by analysts surveyed by Refinitiv.

Net sales dropped 8% to $6.2 billion, topping expectations of $6.06 billion. The company estimates that it lost $1.2 billion in sales because of the coronavirus pandemic. Global same-store sales fell 9%.

While the number of transactions has fallen, customers are spending more on their coffee orders. Executives said that customers are buying more cold beverages and plant-based options, both of which tend to be higher priced, and more upsizing, because customers are choosing to treat themselves.

In the United States, same-store sales fell 9%. Active membership in Starbucks’ U.S. loyalty program rose 10% to 19.3 million people and drove 47% of transactions. Demand improved throughout the quarter. In September, U.S. same-store sales fell just 4%, bolstered by the return of Pumpkin Spice Lattes.

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Coffee rival Dunkin’ reported U.S. same-store sales growth of 0.9% in its latest quarter earlier on Thursday. Although the chain has thousands fewer cafes than Starbucks, it has benefited from a higher concentration of drive-thru lanes and more bulk orders from customers. Dunkin’ is in sale talks with Inspire Brands.

In China, Starbucks’ second-largest market, the coffee chain’s same-store sales declined by just 3%.

Starbucks opened 480 net new cafes during the quarter. In the next fiscal year, it anticipates 1,100 net new stores and $1.9 billion in capital expenditures.

Starbucks expects to earn between $2.70 and $2.90 per share, after adjustments, on revenue of $28 billion to $29 billion in fiscal 2021.

Global same-store sales are expected to grow 18% to 23% for the year, with U.S. same-store sales forecast to increase 17% to 22%. The forecast assumes that U.S. dining rooms will be fully reopened by the end of the fiscal second quarter, when same-store sales are also expected to rebound. China’s same-store sales growth is expected to reach 27% to 32%.

For the fiscal first quarter, the company projects adjusted earnings of 50 cents to 55 cents per share.

The company’s board raised its dividend to 45 cents. While many companies chose to suspend their dividends at the onset of lockdowns, Starbucks chose to keep paying it out to shareholders.

Source: https://www.cnbc.com/2020/10/29/starbucks-sbux-q4-2020-earnings.html

I hope you enjoyed this article.

The post Starbucks earnings top estimates as sales rebound quicker than expected in U.S., China appeared first on Trading Concepts, Inc..

Wall Street closed recouped some of the losses from the Wednesday’s selloff, as shares of major tech companies rallied ahead of their quarterly numbers. Apple (AAPL), Amazon.com (AMZN), Alphabet (GOOGL) and Facebook (FB) and Twitter (TWTR) announced 3Q results after the close.

The gains were fueled by better-than-expected economic news, with Gross Domestic Product (GDP) surging 33.1%, and jobless claims improving. The rebound wasn’t enough to offset the weekly losses thus far with Friday’s action deciding how the month ends.

The Nasdaq tapped an afternoon high of 11,287 while closing at 11,185 (+1.6%). Prior and lower resistance at 11,200-11,300 was cleared but held. A close above the latter would indicate further upside towards 11,400-11,500.

The S&P 500 finished at 3,310 (+1.2%) with intraday high hitting 3,341. Lower resistance at 3,325-3,350 was breached but held. A move above the latter would suggest a retest towards 3,375-3,400.

The Russell 2000 tested a peak of 1,566 before settling at 1,561 (+1.2%). Longer-term and lower resistance at 1,550-1,565 was recovered. A close above the latter would signal another run towards 1,570-1,585.

The Dow tagged a high of 26,891 while going out at 26,659 (+0.5%). Fresh and lower resistance at 26,750-27,000 was cleared but held. A move above the latter would be an ongoing bullish development with additional strength towards 27,250-27,500.

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ANALYST UPGRADES/DOWNGRADES

BJ's Wholesale (BJ) upgraded to Neutral from Sell at MKM Partners
Fiverr (FVRR) upgraded to Outperform from Market Perform at JMP Securities
Illinois Tool Works (ITW) upgraded to Neutral from Underperform at BofA

C.H. Robinson (CHRW) downgraded to Equal Weight from Overweight at Stephens
ChemoCentryx (CCXI) downgraded to Neutral from Overweight at JPMorgan
Exact Sciences (EXAS) downgraded to Neutral from Buy at UBS

FRIDAY'S EARNINGS ANNOUNCEMENTS
Before the open: AbbVie (ABBV), Booz Allen Hamilton (BAH), Chevron (CVX), Exxon Mobil (XOM), Goodyear Tire (GT), Honeywell (HON), LyondellBasell Industries (LYB), MoneyGram (MGI), Newell Brands (NWL), Under Armour (UAA)

After the close: Capital Southwest (CSWC), Federated Hermes (FHI)

FRIDAY'S ECONOMIC NEWS
Employment Cost Index - 8:30am
Productivity and Costs - 8:30am
Chicago PMI - 9:45am
Consumer Sentiment - 10:00am
Baker-Hughes Rig Count - 1:00pm

METALS/ OIL
Gold closed at $1,868.00 an ounce,  down $11.20
Silver settled at $23.36 an ounce, unchanged
Copper finished at $3.06 a pound, down $0.01
Crude Oil was at $36.11 a barrel, 
down $1.27
Bitcoin Investment Trust (GBTC) ended at $15.26 up $0.35


I hope this helps you prepare for the trading day. Make it a great one!


   Todd Mitchell

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The post Bulls Bounce Back but Still Struggling appeared first on Trading Concepts, Inc..

  • HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
  • CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
  • CO-HOST: MIKE TOSAW, ST. CHARLES WEALTH MANAGEMENT

TRADING BLOCK SEGMENT

  • A LITTLE GREEN ON THE SCREEN TODAY BUT A LOT OF RED
  • MOST ACTIVE INDICES AND MOST ACTIVE OPTIONS
  • DISCUSSION ON VOLATILITY IN THE MARKETS
  • EARNINGS VOLATILITY: MSFT, EBAY, PINS, GILD, ETSY, GRUB

ODD BLOCK

  • HUM LINE IN THE SAND PUTS
  • RLGY POST EARNINGS CALL LOVE
  • REVIEW MTCH PUTS

MAIL BLOCK

  • ANSWERING YOUR QUESTIONS ON GETTING BULLISH WITHOUT MUCH RISK, HOW VIX AND SPX CAN BOTH BE UP, ROBINHOOD OPTIONS NOT FILLED

AROUND THE BLOCK

  • WHAT’S ON OUR RADAR FOR THE REST OF THE WEEK

The insanity continues. 

As I write this, the Dow is down another 500 points, as the NASDAQ sinks 142.

After reporting 83,000 new cases over the weekend, the U.S. saw another 73,200 new cases on Tuesday, according to Johns Hopkins University. 

“When you hit these record case numbers it grabs people’s attention,” said Jeff Mills, chief investment officer at Bryn Mawr Trust, as quoted by The Wall Street Jourmal. “And when you have that combined with a breakdown in stimulus talks it combines into this negative catalyst.”

While markets sink, stay calm.  This too shall pass.  The worst thing to do is panic.

And if you want to protect for downside, here are three of the top “go to” opportunities.

ProShares Ultra VIX Short-Term Futures ETF (UVXY) 

The ETF was designed to match two times (2x) the daily performance of the S&P 500 VIX Short-Term Futures Index. The UVXY now trades at just $20.85 and could run above $25 shortly.

iPath S&P 500 VIX Short-Term Futures (VXX)

The VXX ETN provides exposure to the S&P 500 VIX Short-Term Futures Index. The VXX last traded at $25.74 and could easily run well above $30, near-term with the chaos.

ProShares VIX Short-Term Futures ETF (VIXY)

ProShares VIX Short-Term Futures ETF provides long exposure to the S&P 500 VIX Short-Term Futures Index, which measures the returns of a portfolio of monthly VIX futures contracts with a weighted average of one month to expiration.  The VIXY last traded at $21.10 and could run above $25, near-term, as well.

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The post Extreme Option Profits Chart of Day… New Methodology INDX appeared first on Trading Concepts, Inc..

Wall Street closed lower on Wednesday as the surge in coronavirus cases here at home and across the pond continued to weight on sentiment. Disappointing earnings and guidance, along with the failure to pass additional stimulus didn’t help matters as the major indexes showed overall weakness for the third-straight session.

The Nasdaq ended at 11,004 (-3.7%) after plunging to a late day low of 10,999. Prior and upper support from late September at 11,000-10,900 was breached but held. A move below the latter would suggest further downside risk towards 10,800-10,700.

The S&P 500 settled at 3,271 (-3.5%) following the late day back-test to 3,268. Upper support at 3,275-3,250 failed to hold. A drop below the latter would signal further downside risk towards the 3,225-3,200 area.

The Dow tagged an afternoon low of 26,497 while closing at 26,519 (-3.4%). Longer-term and upper support at 26,750-26,500 was breached and failed to hold. A close below the latter would suggest additional weakness towards 26,250-26,000 and the 200-day moving average.

The Russell 2000 traded to a low of 1,542 before finishing at 1,543 (-3%). Prior and upper support at 1,550-1,535 was tripped and failed to hold. A move below the latter would indicate further weakness towards 1,525-1,510.

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ANALYST UPGRADES/DOWNGRADES

Lululemon (LULU) upgraded to Buy from Hold at Deutsche Bank
Sherwin-Williams (SHW) upgraded to Overweight from Neutral at JPMorgan
ViewRay (VRAY) upgraded to Buy from Neutral at B. Riley Securities

Exact Sciences (EXAS) downgraded to Neutral from Buy at Citi
Diamondback Energy (FANG) downgraded to Equal Weight from Overweight at Barclays
Harley-Davidson (HOG) downgraded to Equal Weight from Overweight at Morgan Stanley

THURSDAY'S EARNINGS ANNOUNCEMENTS
Before the open: Anheuser-Busch (BUD), Brink's Company (BCO), Comcast (CMCSA), Dunkin' Brands Group (DNKN), Global Payments (GPN), Imax (IMAX), Keurig Dr Pepper (KDP), Molson Coors Beverage (TAP), Newmont Mining (NEM), Pilgrim’s Pride (PPC), Shopify (SHOP), Textron (TXT), Yum Brands (YUM)

After the close: Alphabet (GOOGL), Cheesecake Factory (CAKE), Deckers Brands (DECK), Facebook (FB), Hub Group (HUBG), MGM Resorts (MGM), Opko Health (OPK), ResMed (RMD), Shake Shack (SHAK), Twitter (TWTR), United States Steel (X), Zendesk (ZEN)

THURSDAY'S ECONOMIC NEWS
Jobless Claims - 8:30am
GDP - 8:30am
Pending Home Sales - 10:00am

METALS/ OIL
Gold closed at $1,879.20 an ounce,  down $32.70
Silver settled at $23.36 an ounce, down $1.21
Copper finished at $3.06 a pound, down $0.03
Crude Oil was at $37.38 a barrel, 
down $1.66
Bitcoin Investment Trust (GBTC) ended at $14.91 down $0.76


I hope this helps you prepare for the trading day. Make it a great one!


   Todd Mitchell

Enter your text here...


Not sure the best way to get started?

Follow these 3 simple steps ...

Step #1: Get These FREE Reports & Videos

Options INCOME  Profits   8 Video  Series    Habits that Kill Traders...



Step #2: Enroll in an Advisory or Educational Program
Premium Advisories | Featured  Educational  Programs 



Step #3: Connect with The Community
Trading Concepts Official Facebook Page

The post Nasdaq and Small-Caps Close Back Below 50-Day Moving Averages appeared first on Trading Concepts, Inc..

U.S. stock futures fell on Tuesday night following a mixed session in which traders weighed a recent uptick in coronavirus infections.

Dow Jones Industrial Average futures traded 150 points lower, or 0.5%. S&P 500 slid 0.6% and Nasdaq 100 futures dipped 0.4%.

The Dow fell more than 200 points during regular trading and the S&P 500 slipped 0.3%. The Nasdaq Composite, meanwhile, advanced 0.6%. Tuesday’s divergent market action came as names that would benefit from people staying at home — such as Amazon and Zoom Video — rose broadly while stocks dependent on the economy reopening declined.

Daily U.S. coronavirus cases have risen by a record average of 69,967 over the past week, data compiled by Johns Hopkins University showed. Meanwhile, coronavirus-related hospitalizations are up 5% or more in 36 states, according to data from the Covid Tracking Project.

This uptick has led some countries to reinstate certain lockdown measures. In the U.S., the state of Illinois has ordered Chicago to shut down indoor dining.

“Uncertainty about COVID-19-related mobility restrictions and US politics mean we should expect volatility to remain elevated for the balance of the year,” said Mark Haefele, chief investment officer for global wealth management at UBS, in a note. “However, we continue to see upside over the medium term.”

“With ten vaccine candidates in late-stage trials globally, our central scenario is that restrictions can start to be lifted by 2Q21, helping corporate earnings recover to pre-pandemic highs by around the end of 2021,” he said.

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  • 174% GAIN in LLY in 8 days…
  • 135% GAIN in AMGN in 18 days…

Earnings

Wall Street also pored through the latest batch of corporate earnings for the previous quarter, including those of tech giant Microsoft.

Microsoft reported better-than-expected earnings and revenue for the previous quarter as sales from its cloud business grew sharply. However, the stock dipped 0.3% in after-hours trading.

“Redmond is continuing to see strength in the field as more enterprises move to the cloud,” Wedbush analyst Dan Ives said in a note. “This is a stark contrast to the earnings debacle we saw from mature software stalwart SAP earlier this week which highlights the clear winners and losers in this cloud shift with MSFT leading the way.”

First Solar also posted quarterly numbers that beat analyst expectations, sending its shares up about 10% after the bell. Boeing, General Electric, UPS and Fiat Chrysler are among the companies set to report Wednesday before the bell.

Source: https://www.cnbc.com/2020/10/27/stock-market-futures-open-to-close-news.html

I hope you enjoyed today’s article, feel free to let me know what you think and feel free to share it with a trading friend.

The post Dow futures fall 150 points as Wall Street grapples with rising Covid-19 cases, earnings appeared first on Trading Concepts, Inc..

Wall Street closed mostly in the red on Tuesday with Tech outperforming after holding positive territory throughout the session. The tighter trading ranges were a relief from Monday’s punishment although volatility remained elevated.

Microsoft (MSFT) could provide some momentum for Wednesday’s open after topping earnings estimates and revenues. The news comes ahead of Thursday’s parade of earnings and the busiest week of the 3rd-quarter season.

The Nasdaq tested a late day peak of 11,465 before settling at 11,431 (+0.6%). Current and lower resistance at 11,400-11,500 was recovered. A close above the latter would indicate a retest towards 11,600-11,700.

The S&P 500 closed at 3,390 (-0.3%) after tapping a late day low of 3,388. Near-term and upper support at 3,375-3,350 was breached but held for the 2nd-straight session. A drop below the latter would suggest additional weakness towards 3,325-3,300.

The Dow tagged a low of 27,457 while ending at 27,463 (-0.8%). Upper support at 27,500-27,250 was tripped but held. A close below the latter would signal further downside risk towards 27,000-26,750.

The Russell 2000 finished on the session low of 1,590 (-0.9%). Current and upper support at 1,600-1,585 failed to hold. A move below the latter would indicate a further retreat towards 1,580-1,565.

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GOAL:  $250 to $500 + Every SingleDay the Market is Open…Like Clockwork!

Discover this Simple, 4-Step Process, Fully Disclosed BLUEPRINT for yourself.

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ANALYST UPGRADES/DOWNGRADES

ADT (ADT) upgraded to Buy from Neutral at Citi
Boingo Wireless (WIFI) upgraded to Outperform from Perform at Oppenheimer
Sirius XM (SIRI) upgraded to Outperform from Sector Perform at RBC Capital

Catabasis (CATB) downgraded to Neutral from Buy at H.C. Wainwright
Flutter Entertainment (PDYPY) cut to Sector Perform from Outperform at RBC Capital
Waste Management (WM) downgraded to Underperform from Neutral at BofA

WEDNESDAY'S EARNINGS ANNOUNCEMENTS
Before the open: Boeing (BA), CME Group (CME), Extreme Networks (EXTR), Garmin (GRMN), Littelfuse (LFUS), Masco (MAS), Ryder System (R), Sony (SNE), United Parcel Service (UPS), W.R. Grace & Co. (GRA)

After the close: Amgen (AMGN), Cree (CREE), eBay (EBAY), Ford Motor (F), GrubHub (GRUB), Murphy USA (MUSA), O'Reilly Automotive (ORLY), Rent-A-Center (RCII), ServiceNow (NOW), Teladoc Health (TDOC), Visa (V), Western Digital (WDC)

WEDNESDAY'S ECONOMIC NEWS
MBA Mortgage Applications - 7:00am
Wholesale Inventories - 8:30am

METALS/ OIL
Gold closed at $1,911.90 an ounce,  up $6.20
Silver settled at $24.57 an ounce, up $0.15
Copper finished at $3.09 a pound, unchanged
Crude Oil was at $39.04 a barrel, 
up $0.41
Bitcoin Investment Trust (GBTC) ended at $15.67 up $1.29


I hope this helps you prepare for the trading day. Make it a great one!


   Todd Mitchell

Enter your text here...


Not sure the best way to get started?

Follow these 3 simple steps ...

Step #1: Get These FREE Reports & Videos

Options INCOME  Profits   8 Video  Series    Habits that Kill Traders...



Step #2: Enroll in an Advisory or Educational Program
Premium Advisories | Featured  Educational  Programs 



Step #3: Connect with The Community
Trading Concepts Official Facebook Page

The post Tech Rebounds but Bears Stay Aggressive appeared first on Trading Concepts, Inc..

With just days to go before the U.S. elections, and coronavirus cases exploding higher, markets could easily sink lower here.  At the same time, volatility could easily rocket higher with a great deal of uncertainty.

Not helping, optimism has also dimmed we’ll see near-term stimulus, as both sides accuse each other of moving the goalposts.  At this point, the chances of seeing a bill prior to the U.S. election is extremely lower, and very much unlikely.

With volatility likely, one of the best ways to hedge is to take a long position on volatility.  We can do that with the ProShares Ultra VIX Short-Term Futures ETF (UVXY), for example.  Or, we can even use the iPath S&P 500 VIX Short-Term Futures ETN (VXX).  Both typically rise and fall with the Volatility Index (VIX).

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The post Extreme Option Profits Chart of Day…iPath S&P 500 VIX Short-Term Futures ETN (VXX) appeared first on Trading Concepts, Inc..

Wall Street closed substantially lower on Monday as disappointment over the lack of another stimulus deal and escalating worries over the surge in coronavirus cases weighed on sentiment. House Speaker Pelosi's Deputy Chief of Staff said she remains optimistic on a deal while Economic Advisor Kudlow said stimulus talks have certainly slowed down.

The back-and-forth claptrap nearly confirms a deal won’t get passed ahead of the Presidential Election which is now just a week away. Wow. Mixed earnings ahead of the busiest week for the third-quarter and slightly disappointing economic news from the housing market were also factors in the bears biggest win since early September.

The Dow plunged to a low of 27,370 while closing at 27,685 (-2.3%). Upper support from late September at 27,500-27,250 was breached but held on the close back below the 50-day moving average. A drop below the latter and would suggest a retest towards 27,000-26,750.

The Russell 2000 tapped an afternoon low of 1,586 before settling at 1,605 (-2.2%). Current and upper support at 1,600-1,585 was shaken but held. A move below the latter would indicate a further back-test towards 1,580-1,565.

The Nasdaq traded an intraday low of 11,221 before finishing at 11,358 (-1.6%). Prior and upper support from the beginning of the month at 11,300-11,200 and the 50-day moving average were clipped but levels that held. A close below the latter would indicate additional weakness towards 11,100-11,000.

The S&P 500 closed at 3,400 (-1.9%) following the midday tumble to 3,364. Prior and upper support at 3,375-3,350 was tripped but held on the close back below the 50-day moving average. A move below the latter would signal further downside risk towards 3,325-3,300.

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ANALYST UPGRADES/DOWNGRADES

Crown Castle (CCI) upgraded to Outperform from Market Perform at Raymond James
Huntington Bancshares (HBAN) upgraded to Outperform from Neutral at Wedbush
Winnebago (WGO) upgraded to Buy from Neutral at Citi

Boot Barn (BOOT) downgraded to Hold from Buy at Craig-Hallum
Cinemark (CNK) downgraded to Market Perform from Outperform at Barrington
Exelon (EXC) downgraded to Neutral from Buy at Guggenheim

TUESDAY'S EARNINGS ANNOUNCEMENTS

Before the open: 

After the close: 

METALS/ OIL
Gold closed at $1,905.70 an ounce,  up $0.50
Silver settled at $24.42 an ounce,  down $0.25
Copper finished at $3.09 a pound, down $0.03
Crude Oil was at $38.63 a barrel, 
down $1.15
Bitcoin Investment Trust (GBTC) ended at $14.38 unchanged


I hope this helps you prepare for the trading day. Make it a great one!


   Todd Mitchell

Enter your text here...


Not sure the best way to get started?

Follow these 3 simple steps ...

Step #1: Get These FREE Reports & Videos

Options INCOME  Profits   8 Video  Series    Habits that Kill Traders...



Step #2: Enroll in an Advisory or Educational Program
Premium Advisories | Featured  Educational  Programs 



Step #3: Connect with The Community
Trading Concepts Official Facebook Page

The post Bears Return on Market Selloff appeared first on Trading Concepts, Inc..

  • HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
  • CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
  • CO-HOST: MIKE TOSAW, ST. CHARLES WEALTH MANAGEMENT
  • NASDAQ HOT SEAT: LUKE RAHBARI, EQUITY ARMOR INVESTMENTS

TRADING BLOCK SEGMENT

  • A LOT OF RED ON THE SCREEN TODAY
  • SPX STILL BELOW 3500 
  • VIX: 32 - UP 3.75 FROM LAST SHOW
  • VVIX: 127.5 - UP 12.5 FROM LAST SHOW
  • VXX: 23.6 - UP 1.4 FROM LAST SHOW
  • VOLQ: 34.75 - UP 2.25 FROM LAST SHOW
  • MOST ACTIVE INDICES AND MOST ACTIVE OPTIONS
  • ELECTION VOLATILITY
  • NDX AND VOLQ UP ON THE SAME DAY
  • DOWNSIDE AND UPSIDE VOLATILITY
  • SAP SELLOFF  
  • MSFT EARNINGS VOLATILITY

ODD BLOCK

  • MOMO CALL LOVE
  • LQDA LINE IN THE SAND PUTS

STRATEGIC BLOCK

  • OPTIONS STRATEGIES FOR THE ELECTION

MAIL BLOCK

  • ANSWERING YOUR QUESTIONS IN VOLQ, VLQ AND VIX

AROUND THE BLOCK

  • WHAT’S ON OUR RADAR FOR THE REST OF THE WEEK

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