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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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 The stock market was mixed Wednesday following the previous day’s selloff as the ongoing debt ceiling debate remained in focus. Congress is still facing major hurdles in passing legislation to fund the government beyond the end of the fiscal year by Thursday’s deadline. Ongoing debates around a bipartisan $1 trillion infrastructure package and a $3.5 trillion budget reconciliation deal also weighed on sentiment. Meanwhile, Fed Chair Powell reiterated his frustration over persistent supply chain woes which could keep inflation elevated for longer than expected. The Dow settled at 34,390 (+0.3%) with the intraday peak reaching 34,580. Near-term resistance at 34,500 was cleared but held. Continued closes back above this level would suggest a retest towards 34,750-35,000 and the 50-day moving average. The S&P 500 made a run to 4,385 before ending at 4,359 (+0.2%). Prior and lower resistance at 4,375-4,400 was breached but held. A close above the latter would signal strength towards 4,425-4,450 the 50-day moving average. The Nasdaq closed at 14,512 (-0.2%) with the afternoon and fresh monthly low hitting 14,493. Upper support at 14,500-14,350 was tripped but held. A close below the latter would indicate a further fade towards 14,250-14,100. The Russell 2000 finished at 2,225 (-0.2%) after testing a midday low of 2,221. Key support at 2,225 was breached but held. A close below this level and the 50-day moving average would be an ongoing bearish development with downside risk towards 2,200-2,175 and the 200-day moving average. Trade Your Way to a FORTUNE with BioTech and Marijuana Stocks
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 ANALYST UPGRADES/DOWNGRADESConagra Brands (CAG) upgraded to Neutral from Underperform at Credit Suisse   THURSDAY'S EARNINGS ANNOUNCEMENTS   METALS/ OIL   Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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Crude oil is back above $75, and could see $87, says Goldman Sachs. All thanks to disruption in the Gulf of Mexico, and signs of unexpectedly strong demand.
“While we have long held a bullish oil view, the current global oil supply-demand deficit is larger than we expected, with the recovery in global demand from the Delta impact even faster than our above consensus forecast and with global supply remaining short of our below consensus forecast,” wrote Goldman Sachs’ Damien Courvalin, as quoted by Fox Business. Should oil prices continue to head higher, investors should keep an eye on oil stocks like Conoco Phillips (COP). “The company should deliver 30%-40% of cash flow back to shareholders in the form of dividends/buybacks, has proven a core competency around M&A execution, offers a better geographic diversification than many E&Ps [exploration and production companies], but higher oil leverage than the U.S. majors. In addition, the stock trades at the highest free cash flow yield among the majors in 2022 and lowest EV/DACF multiple,” says Goldman Sachs analyst Neil Mehta, as quoted by Yahoo Finance. This is just one of the opportunities we find quite often inside Extreme Option Profits.
 The post Extreme Option Profits Chart of Day…Conoco Phillips (COP) appeared first on Trading Concepts, Inc.. |
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Democrats scrambled Tuesday to extend funding for the federal government with less than 72 hours left to avoid a shutdown, with negotiations in Congress at a stalemate as President Joe Biden canceled a planned trip to Chicago to focus on budget talks. Exploit a Step-by-Step BLUEPRINT in 1 Hour or LESS a Day & EARN Consistent Daily Income from the Most Predictable & Profitable Market on the Planet.
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 Senate Minority Leader Mitch McConnell, R-Ky., proposed Monday to vote on government funding alone, without an increase in the debt limit. But he needed unanimous consent to debate the proposal and Democrats objected. House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Chuck Schumer, D-N.Y., each said they would take further action this week to extend funding before the new fiscal year begins Friday. Work on the debt limit could require more time and debate. “This isn’t your typical Washington fracas and it shouldn’t be treated as such,” Schumer said. “It has far more severe consequences than the typical political catfight.” I hope this article helps in your trading strategy.  The post Government Shutdown Looms as Democrats, Republicans Fail to Agree appeared first on Trading Concepts, Inc.. |
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The stock market was a sea of red on Tuesday as disappointing economic news and Fed speak weighed on sentiment. Specifically, consumer confidence sank 5.9 points to 109.3 in September, representing the weakest reading since February. Federal Reserve Chair Powell and Treasury Secretary Yellen caused some nervousness after Powell warned that elevated price pressures were persisting longer than anticipated. Yellen addressed the ongoing debt ceiling debate and stated that the U.S. risks running out of money by October 18th should lawmakers fail to take action. The Nasdaq tested an afternoon low of 14,539 while ending at 14,546 (-2.8%) and closing back below its 50-day moving average. Near-term and upper support at 14,650-14,500 failed to hold. A drop below the latter and the monthly low at 14,530 would indicate additional downside pressure towards 14,350-14,200. The Russell 2000 ended at 2,229 (-2.3%) after tagging an intraday low of 2,227. Upper support at 2,250-2,225 failed to hold. A move below the latter and the 50-day moving average would signal additional weakness towards 2,200-2,175 and the 200-day moving average. The S&P 500 settled at 4,352 (-2%) and back below its 50-day moving average with the low tapping 4,346. Key support at 4,350 was breached but held. A close below this level keeps a retest towards 4,325-4,300 in play with the prior Monday’s monthly low at 4,305. The Dow bottomed at 34,254 before finishing at 34,299 (-1.6%). Upper support at 34,500-34,250 failed to hold. A close below the latter would suggest weakness towards 34,000-33,750. Trade Your Way to a FORTUNE with BioTech and Marijuana Stocks
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Federal Reserve Chairman Powell and other members of the Fed have been using the term “transitory” to downplay the threat that the last 16 months of skyrocketing inflation would last. Exploit a Step-by-Step BLUEPRINT in 1 Hour or LESS a Day & EARN Consistent Daily Income from the Most Predictable & Profitable Market on the Planet.
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You can almost hear the relief in the Fed's chatter… "See, we were right! It was only transitory inflation, and it's already going down! There's nothing to see here, move along, buy more stocks." I hope this article helps in your trading strategy. The post The Inflation Train Is Still Gaining Speed appeared first on Trading Concepts, Inc.. |
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Costco confirmed it will start limiting purchases on essential household products for what has become a perfect storm of supply chain delays for many retailers. Exploit a Step-by-Step BLUEPRINT in 1 Hour or LESS a Day & EARN Consistent Daily Income from the Most Predictable & Profitable Market on the Planet.
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Costco's current supply chain and inflationary pressures, which include port delays, higher labor and freight costs, and shortages on everything from shipping containers, trucks, and drivers to various components, raw materials, and ingredients, have caused most of its general items to sell out within two weeks. I hope this article helps in your trading strategy. The post Costco Limits Paper Good Purchases Amid Supply Chain Delays appeared first on Trading Concepts, Inc.. |
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The pullback in Cassava Sciences (SAVA) is overkill. After pulling back from $130 to $40 after the quality and integrity of SAVA’s Alzheimer’s test results were called into question, the stock is just beginning to push higher. 21.
For one, B. Riley analysts said SAVA is a buy on weakness, given the “numerous inconsistencies” in the petition. Plus, they reminded investors that SAVA had “highly favorable” engagement with the US FDA, including an agreement for pivotal Phase III studies. Two, the stock could push higher on news that, “top-line clinical data from a pre-planned interim analysis of an on-going open-label study with its drug candidate Simufilam in patients with mild-to-moderate Alzheimer’s disease,” as noted in a company release. “In a study funded by the National Institutes of Health (NIH), ADAS-Cog11 scores improved an average of 3.2 points from baseline (p<0.001) in the first 50 study subjects who completed 12 months of open-label treatment with Simufilam. To emphasize impartiality, changes in ADAS-Cog scores baseline to month 12 were independently analyzed by two consulting biostatistician,” the release added. This is just one of the opportunities we find quite often inside Extreme Option Profits.
The post Extreme Option Profits Chart of Day…Cassava Sciences (SAVA) appeared first on Trading Concepts, Inc.. |
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The stock market was split on Monday despite better-than-expected economic news concerning durable goods. The report showed orders surged 1.8% in August after rising 0.5% in July. The small-caps and the blue-chips showed strength while Tech was weighed down by the 10-year Treasury yield with the rate topping the 1.5% mark. The broader market was slightly weak as Wall Street fretted over this week’s debt limit dilemma and negotiations on big spending and tax bills. The Russell 2000 tapped an afternoon high of 2,293 while ending at 2,281 (+1.5%). Fresh and lower resistance from late August at 2,275-2,300 was reclaimed. A move above the latter would suggest further upside towards 2,300-2,325. The Dow tested a high of 35,061 (+0.2%) before settling at 34,869. Key resistance at 35,000 was cleared but held. A close above this level and the 50-day moving average would indicate ongoing strength towards 35,250-35,500. The Nasdaq closed at 14,969 (-0.5%) following the intraday fade to 14,864. Key support at 15,000 was breached and failed to hold. A close below 14,900 and the 50-day moving average would be a slightly bearish development with additional weakness towards 14,800-14,650. The S&P 500 traded down to 4,436 while finishing at 4,443 (-0.3%) and just above its 50-day moving average. Upper support at 4,450-4,425 was tripped and failed to hold. A drop below the latter would signal slippage towards 4,400-4,375. Trade Your Way to a FORTUNE with BioTech and Marijuana Stocks
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ANALYST UPGRADES/DOWNGRADESBox (BOX) upgraded to Outperform from Market Perform at JMP Securities TUESDAY'S EARNINGS ANNOUNCEMENTS METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP IN THIS EPISODE MARK, THE GREASY MEATBALL, AND UNCLE MIKE BREAK DOWN:
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