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A major North Carolina airport saw pilots protesting Saturday against President Biden’s new vaccine mandate, as the airline industry already struggles with staffing shortages amid an inoculation push.

A group called the US Freedom Flyers organized a rally outside Charlotte-Douglas International Airport Saturday, as pilots for major airlines and other supported protested against Biden’s latest directive that all private companies with 100 employees or more to enforce a vaccine requirement starting Jan. 4, Fox 8 reported. The 5th U.S. Circuit Court of Appeals in Louisiana on Saturday granted an emergency stay of the vaccine requirement by the federal Occupational Safety and Health Administration.

"We’re out here today because we’re tired of the mandate. We’re tired of being told that our bodies are not ours," Artemis Coburn, a pilot for a major airline, told the station. "It just comes down to enough is enough, and we’re going to make a stand, and this is our stand."

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Pilots who spoke with the outlet said they could not disclose which airline they worked for because doing so would breach their employment contracts. The temporary stay on Biden’s order does not immediately take effect, and the next deadline for his federal mandate is Dec. 5, when businesses with over 100 employees must require unvaccinated employees to wear masks indoors.

If the mandate does take effect, 84 million private sector workers could be required by their employers to get vaccinated for COVID-19 or submit to weekly testing.

"If it actually comes down to that, it’s going to be catastrophic for the airline industry," Joshua Yoder, co-founder of US Freedom Flyers, said. "They can’t afford to lose 10% of their people, much less 20-30% across the various workgroups."

Those percentages are based on the estimated number of employees in the airline industry who have resisted getting the vaccine based on medical or religious reasons or other reservations, Yoder said.

"Our governments, our companies, our union, and even a lot of our fellow employees, are not defending freedom, so we have to fill in the void," Robert Soudher, another co-founder of US Freedom Flyers, said.

This comes after American Airlines canceled nearly 2,000 flights over the Halloween holiday weekend, citing staffing shortages, as severe winds at the airline’s main hub at Dallas-Fort Worth Airport prevented some employees from catching their next flights. That followed Columbus Day weekend earlier in October when Southwest Airlines also canceled hundreds of flights over what some speculated to be employees calling out sick in protest over vaccine mandates – something Southwest’s pilots union adamantly denied, Texas Monthly reported.


Source: FoxBusiness
https://www.foxbusiness.com/lifestyle/north-carolina-airport-pilot-protest-biden-vaccine-mandate

I hope this article helps in your trading strategy.

The post Pilots take matters into their own hands after Biden’s vaccine mandate appeared first on Trading Concepts, Inc..

The stock market rallied to another round of record highs on Friday after the October jobs report came in better-than-expected. The data for last month showed 531,000 jobs were added versus estimates for 450,000.

Additionally, the report also revised September’s disappointing number of 194,000 to 312,000. A major development from Pfizer (PFE) regarding its Covid-19 pill fueled further hope for an ongoing reopening recovery, sending shares of airlines and cruise stocks zooming.

The Russell 2000 showed the most strength after trading to an all-time peak of 2,449 while ending at 2,437 (+1.4%). New and lower resistance at 2,425-2,450 was tripped and held. A move above the latter would be an ongoing bullish development for a further breakout towards 2,475-2,500. Below is a chart of the IWM.

The Dow rallied to a lifetime high of 36,484 while settling at 36,327 (+0.6%). Unchartered territory and lower resistance at 36,250-36,500 was cleared and held. A close above the latter would signal momentum towards 36,750-37,000.

The S&P 500 finished at 4,697 (+0.4%) after tagging a record high of 4,718 to extend its winning streak to seven-straight sessions. Fresh and key resistance at 4,700 was breached but held. Continued closes above this level would indicate a run towards 4,725-4,750.

The Nasdaq extended its winning streak to 10-straight sessions after closing at 15,971 (+0.2%) with the record peak hitting 16,053. New and lower resistance at 15,900-16,050 was cleared and held. A close above the latter would suggest additional upside towards 16,150-16,400.

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ANALYST UPGRADES/DOWNGRADES

EOG Resources (EOG) upgraded to Buy from Neutral at BofA
Netflix (NFLX) upgraded to Buy from Hold at Erste Group
Sarepta (SRPT) upgraded to Overweight from Neutral at JPMorgan

PayPal (PYPL) downgraded to Hold from Buy at Erste Group
Peloton (PTON) downgraded to Neutral from Buy at MKM Partners
Regeneron (REGN) downgraded to Hold from Buy at Benchmark

MONDAY'S EARNINGS ANNOUNCEMENTS 
Before the open: ​​​Astronics (ATRO), Black Knight (BKI), Coty (COTY), First Advantage (FA), Lincoln Educational Services (LINC), Ocwen Financial (OCN), Prospect Capital (PSEC), RadNet (RDNT), Tower Semiconductor (TSEM), Trade Desk (TTD), Viatris (VTRS), WideOpenWest (WOW)

After the close: 3D Systems (DDD), AMC Entertainment (AMC), Danaos (DAC), Envestnet (ENV), Freshpet (FRPT), Hanger (HNGR), International Flavors & Fragrances (IFF), Lemonade (LMND), Newtek Business Services (NEWT), PayPal (PYPL), Roblox (RBLX), SmileDirectClub (SDC), Trex (TREX), Virgin Galactic (SPCE), Zynga (ZNGA)

MONDAY'S ECONOMIC NEWS
None

METALS/ OIL
Gold closed at $1,816.80 an ounce, up $23.30
Silver settled at $24.16 an ounce, up $0.25
Copper finished at $4.34 a pound, up $0.02
Crude Oil was at $81.36 a barrel, up $1.41
Bitcoin Investment Trust (GBTC) ended at $48.57, down $0.30

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

 Todd Mitchell

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The post Jobs Report Blows Past Forecasts appeared first on Trading Concepts, Inc..

Democrats' spending bill could give four weeks of paid leave to people without jobs. Rep. Greg Murphy told Fox Business that the Democrats' legislative process has been a 'disaster.'

The latest version of the House Democrats’ massive $1.7 trillion reconciliation bill contains a provision guaranteeing four weeks of federal paid medical and family leave, even if you’re unemployed.

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​The provision in question is buried deep in the Build Back Better Act as Democrats desperately try to get legislation across the finish line after a GOP trouncing at the polls on Tuesday.

One has to turn to page 1,065 of the House Rules Committee-approved bill to find the measure in question, which was whittled down to four weeks of comprehensive paid family and medical leave from President Biden's initial demand of 12 weeks.

The provision would create an entitlement to allow for Social Security funds to be drawn upon by individuals who can "self-attest" their eligibility for the funds even without being employed.

A Republican Study Committee (RSC) memo obtained by Fox Business says the "new paid leave entitlement would mandate workers get 4 weeks of paid leave under which workers could ‘self-attest’ their eligibility and do not even need to be currently employed."

"Despite a resounding rejection of President Biden’s agenda from voters this week, Washington liberals are doubling down on their massive spending package that includes 150 new cradle-to-grave entitlement programs, $550 billion for the Green New Deal, and $1.5 trillion in new taxes," Murphy said.

"In 10 months, Democrats have quickly built a culture that disincentives work, ruins our economy, eliminates accountability, and creates billions in subsidies with no strings attached. 71% of Americans believe that we are on the wrong track, and at this rate, Joe Biden is driving our country clean off the rails," he continued.

The House Ways and Means Committee Republicans — the committee that oversees taxes in the House — also warned that the paid leave measure would be a "target for fraud," listing it as the No. 3 reason as why not to vote for the bill.

"Democrats allow applicants to ‘self-attest’ on the application that they are eligible, opening the door to massive fraud," the website reads. "Self-certification policies in Democrats’ untargeted, emergency pandemic unemployment programs allowed fraudsters to get away with an estimated 400 billion in taxpayer dollars."

The devil is often in the details when it comes to spending legislation, details that Democrats are keeping close to their chests — which GOP critics say is because they are still busy writing the bill as they attempt to jam it through.

House Speaker Nancy Pelosi’s, D-Calif., office pointed to a spokesperson for the House Ways and Means Committee in lieu of comment.


The House Ways and Means Democrat spokesperson told Fox Business that the "bill requires that a person have wages within the most recent quarter before their qualifying event to receive the benefit."

"It also bases benefits on the individual’s average wages over the past eight quarters, so people with very little recent work or infrequent work would receive very low benefits," the person continued.

Source: FoxBusiness
https://www.foxbusiness.com/politics/democrats-spending-bill-4-weeks-paid-leave-people-without-job

I hope this article helps in your trading strategy.

The post Bill Could Give Four Weeks of Paid Leave to People Without Jobs appeared first on Trading Concepts, Inc..

The stock market continued its record run on Thursday with the broader market and Tech showing gains. The blue-chips slacked after Financial stocks pulled back and the sector falling 1.3%.

The small-caps also showed some late day weakness after setting another record high. Better-than-expected jobless claims helped sentiment as the number of new claims for unemployment benefits fell to a 19-month low.

The Nasdaq traded to a lifetime high of 15,966 before ending at 15,940 (+0.8%). Unchartered territory and lower resistance at 15,900-16,050 was breached and held. A close above the latter would be an ongoing bullish development for a run towards 16,100-16,250.

The S&P 500 kissed a record high of 4,683 before settling at 4,680 (+0.4%). Fresh resistance at 4,675 was cleared and held. Continued closes above this level would signal strength towards 4,700-4,725.

The Russell 2000 finished slightly lower at 2,402 (-0.1%) despite hitting another all-time high of 2,423. New resistance at 2,425 was challenged but held. Continued closes above this level would indicate momentum towards 2,450-2,475. 

The Dow closed at 36,124 (-0.1%) with the intraday low tapping 35,986. Fresh and upper support at 36,000-35,750 was tripped but held. A close below the latter would signal additional weakness towards 35,500-35,250.

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ANALYST UPGRADES/DOWNGRADES

Capri Holdings (CPRI) upgraded to Overweight from Neutral at JPMorgan
Lyft (LYFT) upgraded to Buy from Outperform at Daiwa
Qualcomm (QCOM) upgraded to Buy from Neutral at Goldman Sachs

Allstate (ALL) downgraded to Outperform from Strong Buy at Raymond James
Qorvo (QRVO) downgraded to Neutral from Buy at BofA
Zillow Group (ZG) downgraded to Neutral from Buy at Citi

FRIDAY'S EARNINGS ANNOUNCEMENTS 
Before the open: AMC Networks (AMCX), Brookfield Business Partners (BBU), Canada Goose (GOOS), DraftKings (DKNG), EnPro Industries (NPO), Fluor (FLR), Goodyear Tire & Rubber (GT), Groupon (GRPN), Johnson Controls (JCI), Paya Holdings (PAYA), Revlon (REV), Tenneco (TEN), Ventas (VTR)

After the close: Trinseo (TSE)

FRIDAY'S ECONOMIC NEWS
Employment Report - 8:30am
Baker-Hughes Rig Count - 1:00pm
Consumer Credit - 3:00pm

METALS/ OIL
Gold closed at $1,793.50 an ounce, up $29.60
Silver settled at $23.91 an ounce, up $0.68
Copper finished at $4.32 a pound, unchanged
Crude Oil was at $79.95 a barrel, down $0.09
Bitcoin Investment Trust (GBTC) ended at $48.87 down $1.25

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

 Todd Mitchell

Not sure the best way to get started?

Follow these 3 simple steps ...

Step #1: Get These FREE Reports & Videos
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The post Financials Drag Dow Lower 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

IN THIS EPISODE MARK, THE ROCK LOBSTER, AND UNCLE MIKE BREAK DOWN:

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  • IS VOLATILITY SKEW A GOOD INDICATOR FOR FUTURE PRICE ACTION IN THE UNDERLYING
  • WHAT DO OUR LISTENERS THINK IS THE MOST TERRIFYING OPTIONS STRATEGY
  • AND MUCH MORE…
The stock market was mixed throughout much of Wednesday’s session and ahead of the Fed’s meeting minutes. The major indexes got stronger after Fed Chairman Powell once again soothed taper talks by outlining an orderly start to unwinding its massive stimulus program.
 
The Fed announced it would trim bond buying by $15 billion a week from this month, while leaving the door open to quicken or slow the pace, as needed. Volatility traded slightly higher into the update but fell afterwards with key support once again holding into the closing bell.
 
The Russell 2000 was the strongest index after trading to a record high of 2,413 while ending at 2,404 (+1.8%). Unchartered territory and lower resistance at 2,400-2,425 was cleared and held. A move above this level would suggest ongoing strength towards 2,450-2,475. Below is a chart of the IWM.
 
The Nasdaq closed at 15,811 (+1%) following the run to another all-time high of 15,821. Fresh and lower resistance at 15,800-15,950 was breached and held. A close above the latter would indicate momentum towards 16,050-16,200.
 
The S&P 500 tapped a lifetime high of 4,663 before finishing at 4,660 (+0.7%). New and lower resistance at 4,650-4,675 was cleared and held. A pop above the latter would be an ongoing bullish development with a trip towards towards 4,700-4,725 remaining in play.
 
The Dow settled at 36,157 (+0.3%) with the intraday record peak hitting 36,178. Unchartered territory and lower resistance at 36,150-36,400 was cleared and held. A close above the latter would signal additional strength towards 36,500-36,750.
 

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ANALYST UPGRADES/DOWNGRADES

Ferrari (RACE) upgraded to Buy from Hold at Societe Generale
T-Mobile (TMUS) upgraded to Strong Buy from Outperform at Raymond James
Under Armour (UAA) upgraded to Outperform from Market Perform at Telsey Advisory

Activision Blizzard (ATVI) downgraded to Equal Weight from Overweight at Morgan Stanley
Bed Bath & Beyond (BBBY) downgraded to Sell from Hold at Loop Capital
Zillow Group (ZG) downgraded to Neutral from Overweight at Piper Sandler

THURSDAY'S EARNINGS ANNOUNCEMENTS 
Before the open: Arrow Electronics (ARW), Barrick Gold (GOLD), DISH Network (DISH), Gogo (GOGO), Kellogg (K), Lifetime Brands (LCUT), Papa John's (PZZA), Toyota Motor (TM), Vonage Holdings (VG), Wayfair (W)

After the close: B&G Foods (BGS), Chemours (CC), Dropbox (DBX), First Solar (FSLR), GoPro (GPRO), Livent (LTHM), Monster Beverage (MNST), Olympic Steel (ZEUS), Pinterest (PINS), Rocket Companies (RKT), Skyworks Solutions (SWKS), TimkenSteel (TMST), Uber (UBER), Viavi Solutions (VIAV), Yelp (YELP)

THURSDAY'S ECONOMIC NEWS
Jobless Claims - 8:30am

METALS/ OIL
Gold closed at $1,763.90 an ounce, down $25.20
Silver settled at $23.23an ounce, down $0.28
Copper finished at $4.32 a pound, down $0.05
Crude Oil was at $80.04 a barrel, down $2.81
Bitcoin Investment Trust (GBTC) ended at $50.12 down $0.34

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

 Todd Mitchell

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
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The post Fed Keeps Wall Street Giddy appeared first on Trading Concepts, Inc..

Keep an eye on Teva Pharmaceuticals (TEVA). It’s just one of many pharmaceutical stocks pushing higher on a court decision in a $50 billion opioid lawsuit.

Orange County Superior Court Judge Peter Wilson issued a tentative ruling in favor of the drug makers in a $50 billion opioid case. The original suit accused the companies of causing or contributing to the opioid crisis with misleading marketing. It also argued the companies should have to pay $50 billion toward efforts to end the epidemic.

However, Judge Wilson rejected the claims and said the drug makers were not legally liable.

“There is simply no evidence to show that the rise in prescriptions was not the result of the medically appropriate provision of pain medications to patients in need,” Wilson said, as quoted by Barron’s. “The Court finds that Plaintiffs failed to prove an actionable public nuisance for which the defendants, of any of them, are legally liable.”

This is just one of the opportunities we find quite often inside Extreme Option Profits. 

 

The post Extreme Option Profits Chart of the Day…Teva Pharmaceuticals (TEVA) appeared first on Trading Concepts, Inc..

The stock market stayed strong on Tuesday with the small-caps joining the rest of the major indexes is setting fresh all-time highs. The gains come ahead of today’s key Fed update released at 2:00pm (EST).

There could be some added volatility into, and after the announcement, but the Fed will do and say all it can to avoid upsetting the current momentum. Volatility remains slighted elevated but closed lower for the third time over the past four sessions.

The Dow closed at 36,052 (+0.4%) after testing an all-time high of 36,088. Key resistance at 36,000 was cleared and held. Continued closes above this level would suggest ongoing strength towards 36,250-36,500.

The S&P 500 kissed a record high of 4,635 before settling at 4,630 (+0.4%). Current resistance at 4,625 was cleared and held. Continued closes above this level would signal a run towards 4,650-4,675.

The Nasdaq traded to a lifetime high of 15,656 before ending at 15,649 (+0.3%). Unchartered territory and lower resistance at 15,650-15,800 was breached but held by a smidge. A close above the latter would be an ongoing bullish outlook for a trip towards 15,900-16,050.

The Russell 2000 finished at 2,361 (+0.2%) after hitting an all-time high of 2,363. New resistance at 2,360 was cleared and held. Continued closes above this level would indicate momentum towards 2,375-2,400. Below is a chart of the IWM.

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ANALYST UPGRADES/DOWNGRADES

Alcoa (AA) upgraded to Buy from Hold at Jefferies
Discover (DFS) upgraded to Buy from Neutral at Seaport Global
Franklin Resources (BEN) upgraded to Outperform from Market Perform at Keefe Bruyette

Clorox (CLX) downgraded to Underweight from Neutral at JPMorgan
Expedia (EXPE) downgraded to Neutral from Overweight at Atlantic Equities
Skechers (SKX) downgraded to Hold from Buy at Argus

WEDNESDAY'S EARNINGS ANNOUNCEMENTS 
Before the open: Brinker International (EAT), Camping World (CWH), Discovery Communications (DISCA), Humana (HUM), Lumber Liquidators (LL), Marriott International (MAR), New York Times (NYT), Pitney Bowes (PBI), Radware (RDWR), Steven Madden (SHOO), Tupperware (TUP), Wingstop (WING)

After the close: Albemarle (ALB), Cheesecake Factory (CAKE), Electronic Arts (EA), Fox (FOXA), GoDaddy (GDDY), HubSpot (HUBS), Ingersoll-Rand (IR), Metlife (MET), Potbelly (PBPB), Qualcomm (QCOM), Roku (ROKU), Take-Two Interactive (TTWO), Valvoline (VVV)

WEDNESDAY'S ECONOMIC NEWS
MBA Mortgage Applications - 7:00am
ADP Employment Report - 8:15am
Factory Orders - 10:00am
ISM Non-Manufacturing Index - 10:00am
FOMC Minutes - 2:00pm

METALS/ OIL
Gold closed at $1,787.40 an ounce, down $6.40
Silver settled at $23.51an ounce, down $0.57
Copper finished at $4.37 a pound, down $0.02
Crude Oil was at $82.35 a barrel, down $1.18
Bitcoin Investment Trust (GBTC) ended at $50.46 up $1.22

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

 Todd Mitchell

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 Small-Caps Tap Record High appeared first on Trading Concepts, Inc..

President Joe Biden said Tuesday that the White House will be making an announcement about his nominations to lead the U.S. Federal Reserve "fairly quickly."

Biden told reporters that he has been thinking about personnel decisions, including whether to re-nominate Fed Chair Jerome Powell, and that he expected there would be "plenty of time" for his central bank nominees to be cleared by the Senate before current terms expire.

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Federal Reserve Chairman Jerome Powell's term is set to expire in early 2022, and given the need for Congress's approval, previous presidents have announced their decisions to keep or replace the chairman typically in October or early November.

Should Biden replace Powell, a non-economist who was appointed by former President Donald Trump, Biden could reshape the Federal Reserve Board of Governors' approach to monetary policy, experts say.

“He has the potential for a real shakeup of the Fed board,” James McCann, deputy chief economist at Aberdeen Standard Investments, told NBC News. “It's a very significant chance. I think it’s an opportunity there to really reshape how the Fed board leans in terms of policy, in terms of not just that classic hawkish versus dovishness, but also thinking about those broader issues.”

Source: NewsMax
https://www.newsmax.com/finance/streettalk/president-biden-federal-reserve-chairman-jerome-powell/2021/11/02/id/1043005/

I hope this article helps in your trading strategy.

The post Biden Says He’ll Announce Fed Nominations ‘Fairly Quickly’ appeared first on Trading Concepts, Inc..

Take a look at Twitter (TWTR).

Much like other social media stocks, like Facebook and Snap, the TWTR stock was clobbered on earnings and analyst price cuts. However, the pullback appears to be overkill at this point. The stock is now oversold on RSI and Williams’ %R. Plus, the last two times the stock became this oversold dating back to May, we’ve seen a respectable push higher.

While the company did see a net loss of $537 million, revenues were up 37% year over year to $1.28 billion. Daily average users (DAUs) were up 13% year over year, as well to 211 million.

This is just one of the opportunities we find quite often inside Extreme Option Profits. 

 

The post Extreme Option Profits Chart of the Day…Twitter (TWTR) appeared first on Trading Concepts, Inc..

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