Tuesday, June 15, 2021

➡️ What to Do When the Market Turns Sideways ⬅️

Good morning. Most financial news is predicated around the idea that markets are either going up..
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.

Good morning. Most financial news is predicated around the idea that markets are either going up or down. But sometimes, like now, indices are largely trading sideways. When that happens, traders will start to look for clues as to what happens when the sideways trend ends.

For most market conditions, a sideways trend can last anywhere from 6-12 months in part of a broader bull market. That looks like the case here, given that most indices are still near all-time highs. But it's a time to find companies that have been hit the hardest and look set for the biggest moves ahead when a bull run starts.

Now here's the rest of the news:

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MARKETS
DOW 34,393,75 -0.25%
S&P 4,255.15 +0.18%
NASDAQ 14,74.14 +0.74%
*As of market close
Stocks traded mixed on Monday, but closed at highs of the day.
Oil rose 0.2 percent, closing at $71.04 per barrel.
Gold dropped 0.6 percent, hitting $1,868 per ounce.
Cryptocurrencies generally soared, with Bitcoin last at $39,854.

Today's TOP TIPS
This Social Media and Gaming Play Could Break to New Highs
Video games remain a popular and growing part of the entertainment industry. From small indie studious to giants in the space, the E3 conference, held virtually this year, showed off some of the top developments in the space.

Many companies had some announcements regarding the latest games and technologies behind them. Some are even trying to shake up how consumers value their companies compared to competitors.

» FULL STORY

Insider Trading Report: REV Group (REVG)
Rodney Rushing, CEO of REV Group (REVG), recently bought 19,292 shares. The buy increased his holdings by just over 2 percent, and came to a total purchase price of $306,000.

He was also joined by the company CFO, who bought 7,000 shares, paying just over $111,000. And the company's General Counsel also bought 1,500 shares around the same time. All told, company insiders own about 3.6 percent of shares.

» FULL STORY

Unusual Options Activity: DropBox (DBX)
Shares of file-sharing company DropBox (DBX) have been rising steeply in recent sessions. While shares are nearing overbought levels on a technical basis, at least one trader sees the potential for a move higher.

That's based on the October $35 calls. Over 11,660 contracts traded, a 24-fold rise in volume from the prior open interest of 493. The buyer of the calls paid about $1.11 to make the trade.

» FULL STORY

IN OTHER NEWS
5G Stock CRUSHES Earnings!!

Big news today. Wall Street is on a buying frenzy. An obscure tech stock under $5 recently crushed earnings. Reports are saying that "earnings beat estimates on booming 5G demand." And the company is now set to bring in more revenue than IBM, Facebook and even Google.. Yet while those stocks trade for hundreds of dollars, this one company trades for just under $5. Perhaps that's why Wall Street is loading up on shares. If there is one stock to buy right now, this is very likely it. You can access the full breakdown here. But don't wait. A big project is underway that could create 50,000 new jobs in America... and add billions more to the company's bottom line.

Discover Why This Is Our Expert's No. 1 "Buy" Right Here

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Corporate Debt Soars Thanks to Pandemic

Corporate America issued $1.7 trillion in bonds last year, $600 billion more than the previous record. All told, corporations have $11.2 trillion in total debt, according to the Federal Reserve. The growth is blamed on the pandemic and a rush for companies to obtain working capital, as well as lower interest rates, which allowed companies to refinance older debts and lower costs.
Consumer Spending Up 20 Percent Compared to 2019

According to Bank of America (BAC) CEO Brian Moynihan, consumer spending is 20 percent higher so far this year compared to 2019. That's based on transaction volumes on customers credit card debts. While nearly all categories are recovered from the pandemic, travel still remains about 15 percent lower compared to 2019.
Lordstown Motors CEO and CFO Quit as Company Warns on Going Concern

Last week, electric truck manufacturer Lordstown Motors (RIDE) warned that the company could go out of business—issuing what's known as a "going concern" warning. On Monday, the company's CEO and CFO quit as well, causing shares to further plunge. The company went public just last year, using a SPAC, or special purpose acquisition company.
Top Bidder Pays $28 Million for Blue Origin Flight

Blue Origin, the spaceflight company backed by Jeff Bezos, has revealed that of 7,600 bidders, the winner paid $28 million to fly on the company's debut spaceflight. Estimates are that once the company is up and running, spaceflights will likely cost closer to $500,000 to $1 million per ticket. The flight is scheduled for July 20th.
Novavax Unveils Latest Covid-19 Vaccine

Novavax (NVA) revealed that its Covid-19 vaccine was 90.4 percent effective overall in a Phase 3 study. This creates the latest version of a Covid-19 vaccine. This brings another source of the vaccine to market. While most who want a shot have already had the opportunity to get one, the rise of Covid variants and a need for booster shots provides another source.

S&P 500 MOVERS
TOP
RMD 6.002%
MKTX 3.142%
ADBE 2.899%
TER 2.735%
ETSY 2.702%
BOTTOM
BKR 4.516%
MOS 4.221%
CCL 3.943%
GLW 3.939%
NCLH 2.816%

Quote of the Day
The ups and downs of meme stocks have generally had little impact on the overall direction of the stock market. Nevertheless, growing interest in meme stocks is positive for equities over a medium-term horizon... This is because the meme stock phenomenon is drawing funds into the stock market, boosting prices and liquidity in the process.
- Peter Berezin, BCA Research's chief global strategist, on why the recent upswing in popular retail stock positions (or meme stocks), offers some benefits to the overall stock market, even when the market is trending sideways.

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ATTENTION: If you're fed up with the coin-flip approach to trading stocks... and want a better, easier way...

Then it's time you discover the single greatest trade in the history of the markets.

This proven technique can help you rack up gains as big as 136%... 178%... and 188% OVERNIGHT - regardless of whether a stock goes up or down.

For details on the Win-Both-Ways Trade, click here NOW!


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