Good morning. Stocks had their best trading day of 2021 thanks to a rally.
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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| | | | DOW 30,391.60 | +0.55% | | | | S&P 3,726.86 | +0.71% | | | | NASDAQ 12,818.96 | +0.95% | | | | *As of market close | | • | Stocks moved higher on Tuesday, partially recovering from Monday's sizeable drop. | | • | Gold prices rose 0.3 percent, with the metal closing at $1,952.80. | | • | Oil prices rallied 4.9 percent, closing the day at $49.93 per barrel. | | • | Cryptocurrencies trended higher, with Bitcoin rising to $33,988. | | | | | | | | | An Oversold Play on a Beloved Tech Niche | | | | Nothing moves in a straight line. For investors who make short-term bets on a company, this fact can produce large losses quickly. But for investors willing to play trends, waiting for a pullback on a stock in a long-term uptrend can prove worthwhile. That's especially the case when a short-term drop has no apparent rationale behind it. That can happen fairly often in the tech space, as investors look to lock in profits quickly.
» FULL STORY | | | | | | Insider Trading Report: Cheniere Energy LP (CQP) | | | | Blackstone Holdings, a major owner of Cheniere Energy (CQP), recently added to their stake with a 73,359 share buy. The total price came to just under $2.5 million, and represents a nearly 19 percent increase in the fund's stake of the liquefied natural gas company. Blackstone has been a buyer through a number of various legal entities in the past year. One director has sold shares in the past year. » FULL STORY | | | | | | Unusual Options Activity: Micron (MU) | | | | Shares of Micron (MU) have trended up ahead of the company's earnings report on Thursday. One trader sees shares continuing to move higher after earnings. That's based on the February 2021 $85 calls. Over 15,940 contracts traded against a prior open interest of 608, making for a 26-fold rise in volume. The bet, expiring in 45 days, would need to see shares rise 9 percent to move in-the-money.
» FULL STORY | | | | | | | TOP | | JD | 10.622% | | | OXY | 10.086% | | | FANG | 9.665% | | | APA | 9.546% | | | MRO | 9.078% | | | BOTTOM | | VRSN | 3.315% | | | VNO | 2.782% | | | PHM | 2.701% | | | FTNT | 2.624% | | | MCO | 2.61% | | | | | | | | | In my day I've seen a lot of wild rallies with a lot of mispriced stocks, but there is one thing they all have in common. Eventually they hit a wall and go into a major painful correction. Nobody can predict when it will happen, but when that does happen, look out below. Another thing they have in common is it's always said, it's different this time. But it never turns out to be the truth. | | - Billionaire investor Carl Icahn, on why he's hedged in the market right now as valuations remain at historical highs. | | |
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