| | | | The September Correction may have arrived in force.
For the third straight day, the Dow and the S&P 500 lost ground... and even GameStop wasn't exempt.
So much for the meme traders...
At the same time, there was a surprise win by Lululemon (LULU), which shocked the markets and soared in after-hours trading by reporting far more net revenue than analysts expected.
It shouldn't be so shocking. There is always a bull market somewhere, even in the midst of a larger market downturn.
And fundamentals always matter. In the midst of a pandemic, a social-media savvy company that offers powerful brand identity and home fitness solutions is custom made for the times.
Sometimes, it's easy to get caught up in the complicated structural mechanics shaping the markets. But in conditions like this, just take a step back.
Suddenly, the broader trends become clear... The way to go becomes obvious.
And the gains continue to accumulate, even when most traders are losing ground.
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| | | | | | | Is the trade over? That's always the big question... especially when it comes to taking profits at market highs...
Learn more about what Options Coach Chris Hood thinks the Reddit crowd is missing and how to apply it to trading for profitability...
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| | | | | Debt Default, GameStop Falls, Dow Decline, LULU Leaps
- Judgment Day In October - Treasury Secretary Janet Yellen warned that the United States of America could potentially default on its debt unless Congress raises the debt limit before October. The Treasury Department has already suspended certain investments to forestall such a catastrophe, which Yellen said would cause "irreparable harm." Increased expenditures because of the pandemic and uncertain estimates about tax revenues this year have thrown the federal budget into disarray.
- Who Now Can We Trust? - One could hear the screams of millions of meme traders across the country. GameStop (GME) fell more than 7% in after-hours trading after it reported quarterly results. While sales were up, losses were bigger than expected, at $0.76 per share. Of course, it's still above $180 a share - not bad for a company that ended 2020 with shares costing less than $19 each.
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| | | - Three Days Of Pain - For the third straight day, the Dow and the S&P 500 ended at lower levels as the traditional September pullback seems underway. The Federal Reserve reported that economic growth in the United States has slowed. Continuing worries about inflation and the persistence of COVID-19 in the United States is adding to the atmosphere of pessimism.
- Defying The Darkness - On what was overall a grim day on Wall Street, Lululemon (LULU) stunned analysts by raising its full-year forecast and causing a surge of more than 11% in after-hours trading. The home-fitness platform and athletic apparel economy raised its estimates of annual net revenue to the range of $6.19 billion to $6.26 billion. In the second quarter, net revenue rose to $1.45 billion, compared to $902.9 million a year ago.
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| | | | | Did you miss Options Coach Chris Hood's landmark event? Chris does a deep dive into his cornerstone strategy that has been paying him every week for years...
Click below to watch now.
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| | | HOT SPOTS: What's Going on in Geopolitics
- Conservative Government... Raises Taxes? - Prime Minister Boris Johnson won a major vote in the House of Commons that will increase the taxes paid by the British to an all-time high. The move solidifies the PM's authority over the Tories, and Johnson is expected to shake up his Conservative Cabinet very soon. The new funds will be used for social services and the National Health Service.
- Russian Minister Dies In Accident - Russian Emergencies Minister Yevgeny Zinichev died while trying to save someone's life during training exercises in the Arctic. The purpose of the exercises and the exact nature of his death were not elaborated on by the Russian government. Russian president Vladimir Putin expressed "deep condolences," as he and the deceased minister had reportedly worked together for many years.
- Brexit Bites - "Brexit," the UK's exit from the European Union, is having a major relationship on trade. For the first time since 1950, the United Kingdom will not be in the top 10 of Germany's trading partners. Over the first six months of the year, German imports from the United Kingdom fell by 11% year-over-year.
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| | | CUTTING EDGE: What's Happening In Tech
- National Institute of Health Will Study Brain Implant - The National Institute of Health will fund the first American-based clinical trial of the Strentrode system from Synchron. It is a wireless brain implant that can be inserted into patients without open brain surgery and connects them directly to a computer. The trial, with the rather grand title of COMMAND, will test whether those with severe paralysis can regain the ability to communicate and be more independent simply through the power of thought. As the man once said, any sufficiently advanced technology is indistinguishable from magic.
- Space Telescope Launch Delayed - The James Webb Space Telescope, a point project from the American, Canadian, and European space agencies, will have to wait a bit longer to go to orbit. It is meant to be the replacement to the aging Hubble Space Telescope. The new telescope's launch date has been delayed from October 31 until December... small time when you consider that original plans had it going up in 2007.
- Army Funds Potential PTSD Pill Cure - The United States Army has awarded $145,000 to a researcher exploring ways to cure PTSD with just a bill. Neurovation Labs has identified the biomarker "GluA1" from experiments on rats. The new pill will hopefully be able to block the protein while still allowing those who suffer from PTSD to retain their ability to respond to actual threats.
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| | | | | | | | | | | FOR YOUR CONSIDERATION
"Eventually, Sounder just showed up one afternoon in my office and suggested taking a walk. As we strolled by the world-famous Pushkin Museum next door, he dropped a bombshell."
"He wanted to defect and would provide the information we needed only after he was safely out."
A priceless intelligence coup? Or just another Soviet deception? Dr. Kent Moors is back with this week's Spy Tale. Against the backdrop of a possible nuclear war, he is forced to make a difficult choice on little information. And the stakes couldn't be higher - because this intelligence mission has gotten personal.
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| | | | | | | Missing the daily trade insights from Before the Bell? No worries!
Corey is still providing these ideas through his daily newsletter where he provides in-depth technical analysis into some of the biggest opportunities in the market. And it costs you nothing.
Click Here and Sign Up to Before the Bell for FREE |
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| | | Enjoying Dawn Report? Learn something, made some money?SHARE YOUR STORY WITH US OR TELL US HOW TO SERVE YOU BETTER.Let us know at info@rogueinvesting.com |
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| | | | | | | | | | Copyright © 2020 Rogue Investing. All Rights Reserved. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Rogue Investing.com and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. Information for any trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. By downloading this book your information may be shared with our educational partners. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of Rogue Investing.com may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. An InvestPub Company. |
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| HIGH RISK WARNING Trading foreign exchange, stocks, options, or futures on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your objectives, financial situation, needs and level of experience. RogueInvesting.com provides general advice that does not take into account your objectives, financial situation or needs. The content of this website must not be construed as personal advice. The possibility exists that you could sustain a loss in excess of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.You should seek advice from an independent financial advisor. Past performance is not necessarily indicative of future success. |
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