Monday, November 30, 2020

➡️ The Uncertainty Rally Leads the Holiday Rally

Good morning. Markets never quite move as expected. For instance, traders expected some volatility..
It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.
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Good morning. SMarkets never quite move as expected. For instance, traders expected some volatility around the election. Although it took longer than expected for a winner to be declared in the Presidential race, that volatility didn't happen.

That's led to a number of traders removing market hedges, or putting some of their sidelined cash back into stocks. The result? The massive move higher in stocks in the past weeks, ahead of what is seasonally a strong period for stocks. Add in the development of Covid vaccines, and the economy is likely to heat up into the coming year, plus or minus a few lockdowns in some areas in the coming months.


Now here's the rest of the news:

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MARKETS
DOW 29,872.47 -0.58%
S&P 3,629.65 -0.16%
NASDAQ 12,094.40 +0.48%
*Our offices remained closed on Friday for Thanksgiving weekend.

Today's TOP TIPS
This Mall Retailer is a Strong Short Squeeze Candidate
Traders can make a bundle buying companies with a high amount of short interest. That's because once a stock's price moves higher, short-sellers need to buy shares to cover their position. If shares can't be found, and traders get desperate enough, the squeeze is on!

One potential squeeze play is in a mall retailer that has 45 percent of its float (available shares) held by short sellers right now.

» FULL STORY

Insider Trading Report: Biglari Holdings (BH)
Sardar Biglari, Chairman and CEO of Biglari Holdings (BH), recently bought 23,613 additional shares. The buy increased his holdings by just under 2 percent. The buy totaled just under $2.6 million.

Biglari has been a buyer of shares over the past year at prices as much as 30 percent below where shares trade today. Other insiders have also picked up smaller stakes. There have been no insider sales in the last three years.

» FULL STORY

Unusual Options Activity: Palantir (PLTR)
Big data giant Palantir (PLTR), which recently went public, traded sideways for a few weeks before starting a monster move higher. At least one trader sees shares continuing to head even higher from here.

That's based on the May 2021 $40 calls. Over 12,100 contracts traded against a prior open interest of 362. That's a 33-fold rise in volume, and it came in as shares were up double-digits for yet another day.

» FULL STORY

IN OTHER NEWS
778,000 Americans file for unemployment, slightly higher than expectations.
Interest rates hit record lows, fueling home purchases and refinances.
Europe looks to expand its data protection laws to corporate and public-service data.
India bans Chinese apps as border tensions between the two countries rise.
Exxon Mobil lowers its expectation for oil prices for most of the 2020s.
Amazon expands its IP Accelerator to Europe to combat the sale of counterfeit goods.
Coinbase disables margin trading on cryptocurrencies following CFTC guidance.
In earnings, Nordstrom rises following a pickup in third quarter sales.
The Gap falls short of estimates, but is optimistic about the holidays.
HP beats on earnings estimates and raises its dividend payout.

S&P 500 MOVERS
TOP
ETSY 5.443%
ADSK 4.738%
PYPL 4.107%
ZM 3.782%
TSLA 33.353%
BOTTOM
GPS 19.613%
FTI 6.308%
CRM 5.375%
PPL 4.205%
F 3.915%

Quote of the Day
The conditions that drove gold to an all-time high this year are very much still in place. I think it's just natural that once you get to an all-time high in an asset class, there's some consolidation afterwards and that's what we're seeing right now in terms of the price. But the fundamental conditions are still here and I believe that they will be here for the next 12-15 months minimum as well.
- GraniteShares founder and CEO Will Rhind on why gold prices have pulled back a bit, but why they should continue strong through 2021, likely setting new highs once again.

Sponsored Content
Bill Gates Is Betting the House on This New Tech...
It's NOT cannabis. It's NOT bitcoin. It's NOT 5G. But it could be bigger than all of those.

This new tech is fresh out of a secretive lab in Boston, and early investors are funneling as much money as they can into it.

You could be looking down the barrel of 5,000% profits or MORE.

Act now.


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