Happy Momentum Monday Everyone
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Last week was a big one for the bulls, but this week earnings are coming in droves including Apple, Google and Facebook. I plan to mostly watch.
Apple, JP Morgan, Microsoft and Walmart continue to lead the S&P higher.
The big changes that seem to favor the bulls…
Another rate cut is very likely this Wednesday
Tesla exploded higher which few expected.
Twitter imploded, but the market did not care. I think Twitter has seen their best days as political ads explode and they still managed to miss. Tik Tok and a slew of new social networks will continue to eat away at the attention paid to all the social media darlings for the forseeable future. Sometimes the best product is not enough.
Softbank cleaned up their own mess at WeWork, eating a $10 billion loss and pumping in another $5-$6 billion into WeWork. They fell on their sword which financially sounds crazy risky, but for the markets it was a good thing.
Amazon gapped down big on earnings on Friday, but recovered most of the losses. While the stock still looks vulnerable, the recovery is a good sign for the bulls.
Semiconductor stocks like Intel, Nvidia and Teradyne broke out and the index itself hit all time highs.
Iavnhoff and I toured the markets like we always do and looked for some new ideas. You can watch or listen here.