👀Time For the “Big Long?”

Good morning. Traders looking for volatility can still find it in regional banks, particularly one..

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. Traders looking for volatility can still find it in regional banks, particularly ones that have been on the short list for facing a depositor exodus. The question is whether or not these stocks are a buy after dropping 75 percent or more… when they could go bankrupt in the span of a few weeks. One buyer of regional banks is Michael Burry. The investor who shorted the housing market in the mid-2000s is buying in, even after telling investors on Twitter to sell back in January. Investors may still want to tread lightly – but be willing to make a small bet. A few regional banks have had to cut their dividends, and others will likely follow. But investors who buy at a big discount to book value and don't face a further depositor exodus can likely score a big win in this space, although it may take months to play out. Now here's the rest of the news: Sponsored Content An "All-American" Reset is Coming for EVS Market Legend Eric Fry says we're about to see an "All-American" surge in one of our fastest growing markets.. and it's going to take a lot of folks by surprise. Why? Because the market that's surging is the EV industry. Specifically, a cluster of US-based EV companies you don't want to miss. America hasn't seen anything like this in decades... MARKETS DOW 33,012.14 -1.01% S&P 4,109.90 -0.64% NASDAQ 12,343.05 -0.18% *As of market close • Stocks closed lower on Tuesday, following a miss in retail sales. • Oil dropped 0.8 percent, closing at $70.55 per barrel. • Gold slid 1.4 percent, ending the day at $1,994 per ounce. • Cryptocurrencies generally moved lower, with Bitcoin at $26,947 at the stock market close. Today's TOP TIPS Industry Consolidation Bodes Well for This Sector Most industries tend to consolidate over time. That's because they start out with a large number of players. As those who are overleveraged or poorly managed go bust, the better-run companies start to buy up worthy competitors to build their market share. This trend is currently underway in the gold sector. A number of deals have occurred in the past few years that have set records. And this week saw yet another merger announcement that will further keep competition down. » FULL STORY Insider Trading Report: Topgolf Callaway Brands (MODG) Oliver Brewer, President and CEO at Topgolf Callaway Brands (MODG), recently added 5,000 shares. The buy increased his stake by just under 1 percent, and came to a total cost of $85,596. The buy came a day after the company's CFO added 10,000 shares, increasing his holdings by 8 percent, and coming at a cost of $177,900.  The two executives were last buyers of shares in December, both picking up 10,000 at that time. » FULL STORY Unusual Options Activity: Hasbro (HAS) Toymaker Hasbro (HAS) has seen its shares drop nearly one-third over the past year. While the stock has rallied in recent weeks, one trader sees a further decline ahead. That's based on the August $55 puts. With 93 days until expiration, 4,008 contracts traded compared to a prior open interest of 108, for a 37-fold rise in volume on the trade. The buyer of the puts paid $1.73 to make the bearish bet. » FULL STORY IN OTHER NEWS • Consumer Debt Tops $17 Trillion Total consumer debt has topped $17 trillion in the first quarter of 2023, a new record, and an increase of 0.9 percent. The rise occurred primarily from an increase in credit card debt. Home refinancings dropped to $323.5 billion, their lowest level since the second quarter of 2014. • Egg Prices Drop The price of eggs has reached an average of $0.94 per dozen, down from a peak of $5.46 per carton just six months ago, according to price reporting agency Urner Barry. The jump in egg prices started last year amid a strong avian flu outbreak that wiped out a number of egg-laying hens, plus rising feed and fuel costs. • Oneok Agrees to Buy Magellan Oil pipeline firm Oneok (OKE) has agreed to buy Magellan (MFG), in a merger valued at about $19 billion, or a 21.8 percent premium to Friday's closing price for shares. The acquisition will increase Oneok's exposure to oil and refined products. The deal will be a mix of cash and shares. • EU Clears Microsoft/Activision Merger The European Commission, the antitrust agency for the EU, has cleared the path for Microsoft (MSFT) to acquire video game studio Activision Blizzard (ATVI). The announcement came shortly after a regulator in the U.K. nixed the deal. Microsoft has committed to allow other cloud-streaming gaming platforms to offer Activision's games. • Amazon Prepares Lord of the Rings MMO Tech giant Amazon (AMZN) has reached a deal with Embracer Group, owner of the IP rights for Lord of the Rings, to create a massively multiplayer online (MMO) game that takes places in the universe. The game is in the early stages of production. A Lord of the Rings MMO was announced by Amazon in 2019, but was cancelled in 2021. S&P 500 MOVERS TOP AMD  4.118% GEHC  3.897% GOOG 2.698% GOOGL 2.626% COF 2.065% BOTTOM CZR 6.863% GEN 5.789% NWL 5.765% PARA 5.408% ETSY 5.253% Quote of the Day It should be noted that this is the lowest number of S&P 500 companies citing "inflation" on earnings calls going back to Q2 2021 at 222 (using current constituents and going back in time). It also marks the third consecutive quarter in which the number of S&P 500 companies citing the term 'inflation' has declined quarter-over-quarter. - John Butters, analyst at FactSet data, reviewing the latest corporate earnings calls so far this quarter for mention of how inflation is impacting operations. The declining references indicate that corporate America is increasingly less worried about the impact of inflation as it continues to decline. Sponsored Content An "All-American" Reset is Coming for EVS Market Legend Eric Fry says we're about to see an "All-American" surge in one of our fastest growing markets.. and it's going to take a lot of folks by surprise. Why? Because the market that's surging is the EV industry. Specifically, a cluster of US-based EV companies you don't want to miss. America hasn't seen anything like this in decades... Not sure the best way to get started? 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