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HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP IN THIS EPISODE MARK, THE ROCK LOBSTER, AND UNCLE MIKE BREAK DOWN:
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President Biden is under growing pressure from Congress to tap into the nation's Strategic Petroleum Reserve in an effort to quell soaring gas prices ahead of the holiday season. Claim $500 to $4600 & More in Hidden Unclaimed Income Every Month Like Clockwork!
A gallon of gas, on average, was $3.41 nationwide on Tuesday, according to AAA – up from $2.11 a year ago. Proponents of releasing barrels from the emergency stockpile say that doing so would increase oil supplies and reduce prices at the pump, while also generating billions in revenue for the federal government. Still, critics say that releasing emergency supplies is a short-term fix to a problem and does not actually increase the country's oil-production capabilities. Energy Secretary Jennifer Granholm has confirmed that such a release is one measure the administration is considering taking to ease rising prices, along with asking oil-producing countries that are part of OPEC to consider increasing the supply. Oil prices have hit more than $80 a barrel, pushing the cost of gasoline higher for consumers. "It’s a tool that’s under consideration," Granholm said in October. Established after a 1973-74 oil embargo by Arab members of OPEC, the reserve has been used in several emergencies, including in 2005 after Hurricane Katrina made landfall and destroyed swaths of the Gulf of Mexico oil infrastructure. At the time, the Bush administration authorized the release of 20.8 million barrels of crude oil to U.S. producers. I hope this article helps in your trading strategy. The post Biden Faces Pressure to Tap Strategic Oil Supply as Gas Prices Soar appeared first on Trading Concepts, Inc.. |
The major indexes pulled back on Wednesday as disappointing economic news outweighed another round of solid earnings from the retail sector. Single-family housing starts dropped 3.9% to a seasonally adjusted annual rate of 1,039,000 units last month, the fourth-straight monthly decline as the number of houses authorized for construction but not yet started jumped to a 15-year high. Target (TGT), Lowe’s (LOW), and TJX Companies (TJX) posted solid results but the news was offset following the weakness in the Energy and Financial sectors which fell 1.5% and 1.2%, respectively. Meanwhile, volatility rose but held key resistance while holding a four-session trading range. The Russell 2000 tested an afternoon low of 2,369 while ending at 2,377 (-1.2%). Prior and upper support 2,375-2,350 was tripped but held. A move below the latter would indicate a further slide towards 2,350-2,325. The Dow tapped a low of 35,909 before finishing at 35,931 (-0.6%). Key support at 36,000 was breached and failed to hold. Continued closes below this level keeps downside pressure towards 35,750-35,500 in play. The Nasdaq settled at 15,921 (-0.3%) with the intraday low hitting 15,909. Near-term and upper support at 15,900-15,750 was challenged but held. A drop below the latter would be a slightly bearish development with additional risk towards 15,650-15,500. The S&P 500 bottomed at 4,684 before ending at 4,688 (-0.3%). Current and upper support at 4,675-4,650 was challenged but held. A close below the latter would suggest a retest towards 4,625-4,600. Claim $500 to $4600 & More in Hidden Unclaimed Income Every Month Like Clockwork!
ANALYST UPGRADES/DOWNGRADESBoeing (BA) upgraded to Overweight from Equal Weight at Wells Fargo THURSDAY'S EARNINGS ANNOUNCEMENTS After the close: Applied Materials (AMAT), Beacon Roofing Supply (BECN), Delta Apparel Company (DLA), Globant (GLOB), Haynes International (HAYN), Intuit (INTU), Matthews International (MATW), Nuance Communications (NUAN), Palo Alto Networks (PANW), Ross Stores (ROST), Williams-Sonoma (WSM), Workday (WDAY) THURSDAY'S ECONOMIC NEWS METALS/ OIL I hope this helps you prepare for the trading day. Make it a great one! Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
As House Democrats push to finally vote for their massive reconciliation spending bill before Thanksgiving, budget watchdogs are arguing their estimates are systematically undercounting how much the bill will cost taxpayers. Claim $500 to $4600 & More in Hidden Unclaimed Income Every Month Like Clockwork!
CRFB also said the Congressional Budget Office (CBO) is likely to strongly disagree with Democrats over how much stepped-up IRS enforcement efforts will raise to offset the costs of the bill. I hope this article helps in your trading strategy. The post Dems’ Spending Bill May Cost Taxpayers WAY More Than What They’re Letting On appeared first on Trading Concepts, Inc.. |
The stock market rebounded on Tuesday following better-than-expected economic news and solid earnings from a couple of retailers. Specifically, retail sales rose by 1.7% in October versus expectations for a rise of 1.4%. Additionally, the NAHB housing market index rose three points to 83 in November, up from 80 in October. Walmart (WMT) and Home Depot (HD) announced solid numbers but had different reactions as the former closed lower despite raising guidance for 2022. Meanwhile, volatility eased for the third time in three sessions but faces another key test at near-term support levels. The Nasdaq traded to an afternoon high of 15,989 before ending at 15,973 (+0.8%). Key resistance at 16,000 was challenged but held. Continued closes above this level and the record high of 16,053 would be a bullish development for a trip towards 16,150-16,400. The S&P 500 tapped an intraday high of 4,714 before settling at 4,700 (+0.4%). Current and lower resistance at 4,700-4,725 was cleared and held. A move above the latter and the all-time high of 4,718 would signal a run towards 4,750-4,775. The Russell 2000 finished at 2,405 (+0.2%) after tagging a second half high of 2,408. Lower resistance at 2,425-2,450 easily held. A close above the latter and the record peak at 2,458 would indicate momentum towards 2,475-2,500. The Dow closed at 36,142 (+0.2%) after testing a peak of 36,316. Near-term and lower resistance at 36,250-36,500 was cleared but held. A close above the latter and the lifetime high at 36,565 would suggest ongoing strength towards 36,750-37,000. Claim $500 to $4600 & More in Hidden Unclaimed Income Every Month Like Clockwork!
ANALYST UPGRADES/DOWNGRADESAxon (AXON) upgraded to Buy from Hold at Craig-Hallum WEDNESDAY'S EARNINGS ANNOUNCEMENTS After the close: Americas CarMart (CRMT), Bath & Body Works (BBWI), Cisco Systems ( CSCO), Copart (CPRT), Grindrod Shipping Holdings (GRIN), Hillenbrand (HI), i3 Verticals (IIIV), Kulicke & Soffa Industries (KLIC), Nvidia (NVDA), PennantPark Floating Rate Capital (PFLT), QuickLogic (QUIK), Sonos (SONO), Tetra Tech (TTEK), Victoria's Secret & Co. (VSCO), ZTO Express (ZTO) WEDNESDAY'S ECONOMIC NEWS METALS/ OIL I hope this helps you prepare for the trading day. Make it a great one! Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
Keep an eye on the Meta Platforms (FB). For one, the stock is quickly rebounding from oversold conditions. If it can break above its 50-day moving average around $340.89, FB could potentially re-test highs around $380. Two, FB is gaining momentum from the metaverse story, as it invests about $10 billion in its development. Even more exciting, we could be looking at a potential $828.95 billion market with the metaverse, says Emergen Research. Analysts at Bloomberg Intelligence say it could reach $800 billion by 2024. If the metaverse turns out to be the success we believe it could be, it could be massive. According to the company, “The metaverse will feel like a hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world. It will let you share immersive experiences with other people even when you can’t be together.” This is just one of the opportunities we find quite often inside Extreme Option Profits.
The post Extreme Option Profits Chart of the Day…Meta Platforms (FB) appeared first on Trading Concepts, Inc.. |
The stock market struggled throughout Monday’s session after a positive open as rising Treasury yields weighed on Tech. Specifically, the yield on the benchmark 10-year U.S. Treasury note traded to its highest level since late October with the Financial sector benefitting from rising rates.
The Russell 2000 tested a midday low of 2,392 while ending at 2,400 (-0.5%). Current and upper support 2,400-2,375 was tripped but held. A move below the latter would indicate a further slide towards 2,350-2,325.
The Nasdaq settled at 15,853 (-0.04%) with the intraday low hitting 15,778. Fresh and upper support at 15,800-15,650 was breached but held. A drop below the latter would be a bearish development with additional risk towards 15,500-15,350.
The Dow tapped a second half low of 36,031 before finishing at 36,087 (-0.04%). Upper support at 36,000-35,750 was challenged but held. A close below the latter would signal a further fade towards 35,500-35,250.
The S&P 500 bottomed at 4,672 before ending at 4,682 (-0.0%). New and upper support at 4,675-4,650 was breached but held. A close below the latter would suggest a retest towards 4,625-4,600.
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ANALYST UPGRADES/DOWNGRADESBlink Charging (BLNK) upgraded to Buy from Neutral at H.C. Wainwright TUESDAY'S EARNINGS ANNOUNCEMENTS After the close: AvidXchange Holdings (AVDX), DLocal (DLO), Dolby Laboratories (DLB), La-Z-Boy (LZB), Star Bulk Carriers (SBLK), Tattooed Chef (TTCF), Varex Imaging (VREX) TUESDAY'S ECONOMIC NEWS METALS/ OIL I hope this helps you prepare for the trading day. Make it a great one! Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP IN THIS EPISODE MARK AND THE GREASY MEATBALL BREAK DOWN:
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In a pre-taped interview with CBS’s "Face the Nation" that aired on Sunday, Yellen was asked whether she is confident that the inflation rate will be back to normal levels by next November, prompting her to say the "pandemic has been calling the shots for the economy and for inflation." Brennan then listed off many grocery items that are facing skyrocketing prices, including milk, eggs and coffee, as well as gas, before asking, "When does it get better? When do those spikes abate?" Claim $500 to $4600 & More in Hidden Unclaimed Income Every Month Like Clockwork!
"When the economy recovers enough from COVID that demand patterns – people go back to eating out, traveling more, spending more on services, and the demand for products, for goods begins to go back to normal," Yellen said. "Labor supply has been impacted by the pandemic. Labor force participation is down. It hasn't recovered." I hope this article helps in your trading strategy. The post Yellen ties end of inflation with ‘successful’ response to COVID pandemic appeared first on Trading Concepts, Inc.. |
The stock market stayed strong on Friday but ended the week lower to snap a five-week winning streak. Disappointing economic news was overlooked as consumer sentiment fell to a 10-year low while job openings remained near record highs despite workers quitting at an alarming rate. The Nasdaq traded to an afternoon high of 15,874 before ending at 15,860 (+1%). Lower resistance at 15,750-15,900 was recovered. A close above the latter would be an ongoing bullish development for a trip towards 16,000-16,150 with the prior Friday’s record high at 16,053. The S&P 500 kissed a second half high of 4,688 before settling at 4,682 (+0.7%). Current and lower resistance at 4,675-4,700 was cleared and held. A move above the latter would signal another push towards 4,725-4,750 with the recent all-time high at 4,718. The Dow closed at 36,100 (+0.5%) after reaching an intraday peak of 36,147. Key resistance at 36,000 was reclaimed. Continued closes above this level would suggest ongoing strength towards 36,250-36,500 with this month’s lifetime top at 36,565. The Russell 2000 finished at 2,411 (+0.1%) after hitting an opening high of 2,417. Prior and lower resistance at 2,425-2,450 was challenged but held. A close above the latter and the record high of 2,458 would indicate renewed momentum towards the 2,475-2,500 area. Below is a chart of the IWM. Earn 58% & MORE Per Trade on Average
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ANALYST UPGRADES/DOWNGRADESCognex (CGNX) upgraded to Equal Weight from Underweight at Morgan Stanley MONDAY'S EARNINGS ANNOUNCEMENTS After the close: Advance Auto Parts (AAP), Bitfarms (BITF), Casper Sleep (CSPR), Desktop Metal (DM), FlexShopper (FPAY), J & J Snack Foods (JJSF), Luna Innovations (LUNA), Pyxis Tankers (PXS), Rackspace Technology (RXT), Spark Networks (LOV), Vintage Wine Estates (VWE) MONDAY'S ECONOMIC NEWS METALS/ OIL I hope this helps you prepare for the trading day. Make it a great one! Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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