Good morning. Entire trading strategies have been built around a reversion to the mean. That can..
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.
| | | | DOW 33,525.48 | +1.12% | | | | S&P 4,077.78 | +1.44% | | | | NASDAQ 13,705.59 | +1.67% | | | | *As of market close | | • | Stocks roared higher on Monday, with the Dow and S&P 500 hitting new all-time highs. | | • | Oil dropped 4.5 percent, to $58.70 per barrel, as demand concerns weighed on shares. | | • | Gold prices traded flat, at $1,728 per ounce. | | • | Cryptocurrencies generally rallied, with Bitcoin trading at $59,185. | | | | | | | | | | This Down-and-Out Asset Looks Oversold—Here's How to Play It Higher | | | | Investing is often about reverting to the mean. After one asset soars higher, another is likely out of favor. That will generally change as traders book profits in one area and look for a new trend underway. A quiet trend has been going on with gold. Prices fell under $1,700 in early March, and have started to show some strength again. As investors look to alternatives to gold such as Bitcoin, the metal has gotten oversold, but is starting to move higher.
» FULL STORY | | | | | | Insider Trading Report: Purple Innovation Inc (PRPL) | | | | Gary Kiedaisch, a director at Purple Innovation (PRPL) recently picked up 5,000 shares. The buy increased his holdings by 12 percent and came to a total purchase price of $150,000. That's the first insider buy at the company since March 2020. Insiders have typically been sellers over the past year, including a multimillion share sale from a prior major owner. Insiders at the company now own just under 0.5 percent of shares. » FULL STORY | | | | | | Unusual Options Activity: Capital One Financial (COF) | | | | Shares of finance company Capital One Financial (COF) have been in a steady uptrend for the past few months. One trader sees the potential for a continued rally higher. That's based on the June 2021 $150 calls. With 76 days left to trade, and with shares near $130, shares would need to rise another 15 percent for the option to move in-the-money. Over 4,640 contracts traded, a 39-fold rise from the prior open interest of 119.
» FULL STORY | | | | | | • | Hydrogen-Powered Vehicles: 3 Stocks to Power Your Portfolio
In this Profit Trends special report, you'll discover... How three major companies are using hydrogen fuel cell technology to revolutionize the electric car industry... and how you could position yourself to profit before this technology goes mainstream. What makes hydrogen-powered vehicles a no-brainer over standard battery-powered vehicles in the field of alternative energy... and why minimum environmental impact means maximum opportunity for market growth. And why one up-and-coming company launched a $6.7 billion plan to go all-in on hydrogen-powered vehicles, and how its long-term commitment could produce big returns for early investors. And so much more!
Get Your FREE Report (By clicking this link, you will automatically be opted in to receive emails from Profit Trends. You can unsubscribe at any time. - Privacy Policy.) | | | | • | GameStop Announces $1 Billion Stock Sale
Shares of GameStop (GME) were volatile on Monday, as the company announced plans to issue $1 billion in new shares at market prices. Following a drop in shares at the open, they were back to breakeven by midday and closed the day only slightly down. The move to sell shares, which many have suggested the company do, will allow it to raise funds for further digital expansion. | | | | • | Google Wins Court Case Over Oracle
In a decade-long case that went all the way to the Supreme Court, Google (GOOG) won out over Oracle (ORCL). The case involved using parts of Oracle's programming language to build its Android operating system, and whether or not that constituted copyright infringement. The case was decided in a 6-2 decision. | | | | • | Yellen Calls for Global Minimum Corporate Tax Rate
In an effort to help fund infrastructure spending, Treasury Secretary Janet Yellen proposed a minimum global corporate tax rate. Such a rate would avoid how international companies headquartered in the U.S. are able to manage their finances to park capital in low-tax countries. The move is also part of a package of proposed tax increases including raising the corporate rate from 21 percent to 28 percent. | | | | • | LG Ends Smartphone Business
South Korean electronics giant LG is ending its global smartphone business. At one time reaching #3 among U.S. consumers, years of competition and other offerings have made the business uneconomical for the company. LG plans to refocus on areas such as EV components, robotics, and connected devices and smart home products instead. | | | | • | China Boosts Covid Vaccine Rollout
With cases in China hitting a two-month high, the nation is rolling out ways to increase its vaccination program for itself and for neighbors. With a reported number of new cases at 32 in one day, the reported number is far less than that of other countries, however China has been lagging other nations in terms of its Covid vaccine rollout and delivery. | | | | | | TOP | | NCLH | 7.179% | | | GM | 5.606% | | | MGM | 5.038% | | | FXC | 4.739% | | | CCL | 4.654% | | | BOTTOM | | ENPH | 8.157% | | | OXY | 7.56% | | | PXD | 7.546% | | | FANG | 7.166% | | | APA | 6.95% | | | | | | | | | Keep in mind several times in history presidents have introduced new legislation that were aimed to make 'sweeping improvements.' Stick to your plan and keep a long-term perspective in sight. | | - Kristian Finfrock, the founder of Retirement Income Strategies, on President Biden's infrastructure plan, which also includes billions of dollars to support green energy industries, and why the plan may not come to fruition. | | |
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