Good morning. Shares of Gamestop (GME) were halted not just once, but twice on Monday. The stock..
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. Shares of Gamestop (GME) were halted not just once, but twice on Monday. The stock hit a price of $158 in trading, then dropped down to a more modest return for the day closer to $77, or 50 percent off. That kind of parabolic move higher is great if you're already in the trade, but jumping in now can be a headache, as the buyer of GME shares at $158 can attest, having lost half their money on the trade in just a few short hours.
To win in the game of the short squeeze, you have to identify the trade early, and have the patience to let the squeeze get started, then be willing to take a profit when there's still a lot of potential left in the trade— since it's like a game of hot potato or musical chairs that may end abruptly. Just ask traders of Bitcoin in 2017, gold in 2011, or tulips in 1637.
Now here's the rest of the news:
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| | |  | DOW 30,960.36 | -0.12% | | |  | S&P 3,855.34 | +0.36% | | | | NASDAQ 13,635.99 | +0.69% | | | | | *As of market close | | | • | Stocks traded mixed on Monday, rallying well off their lows of the day. | | | • | Oil rose 1 percent, closing at $52.79 per barrel. | | | • | Gold prices sank 0.1 percent, hitting $1,854 per ounce. | | | • | Cryptocurrencies traded slightly lower, with Bitcoin last at $33,398. | | | | | | |
| | | Covid Vaccine Availability Suggests Push to Biotech Plays | | | | With a number of areas removing Covid-related restrictions thanks to the availability of multiple vaccines, capital is likely to start moving out of these names and into other potential fast-movers.
One such area might be adjacent, into the biotech space. Companies that focus on other health issues are likely to see increased interest now that the focus is shifting away from Covid. It's an opportunity-rich environment.
» FULL STORY | | | | |
| | Insider Trading Report: TSR Inc (TSRI) | | | | Bradley Tirpak, a director at TSR Inc (TSRI) recently started a position with a 7,758 share buy. The total cost came to just under $50,000.
That move marks the first insider activity since 2018, when some major owners sold, and others bought shares. The stock trended down from that point until early 2020, when it started a new long-term uptrend. Overall, company insiders own 37 percent of outstanding shares.
» FULL STORY | | | | |
| | Unusual Options Activity: Palantir (PLTR) | | | | Big data giant Palantir (PLTR) recently saw shares surge from the mid-$20 range to the mid-$30 range as retail investors drove shares higher. At least one trader sees the move as played out.
That's based on the March 2021 $33 puts. Over 32,980 contracts traded against a prior open interest of 478, making for a 77-fold rise in volume. The trade expires in 52 days, and is close to where shares traded on Monday.
» FULL STORY | | | | |
| | | | TOP | | | MAC | 20.983% | | | | M | 10.87% | | | | IRM | 6.501% | | | | NTES | 6.449% | | | | FOXA | 6.399% | | | | BOTTOM | | | FTI | 5.888% | | | | WRK | 5.464% | | | | NOV | 5.295% | | | | BKR | 5.052% | | | | FCX | 4.952% | | | | |
| | |  | | There is a lot of volume in low-priced stocks, $2 or $3 obscure stocks where volumes have exploded. That tells me people are chasing momentum. They move because they start moving. People start talking about them [in chat rooms] and they move. | | - Delano Saporu, founder of New Street Advisors Group, on the tug of war between retail traders and hedge funds short a number of beaten-down companies like GameStop and Bed Bath & Beyond. | |
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