Market Wrap – Target in an Attack of the Dribblers Crashes Nasdaq, May 18, 2022

Yesterday the markets continued with no fear in a FOMO bear market rally despite Walmart’s biggest daily fall since 1987 and Fed chair Powell reiterated raising rates and cutting free credit. The dribblers laughed and danced as their stocks squeezed. Today Target $TGT came in for the 1-2 to close at ‎-53.67 (‎-24.93%) also the biggest daily fall since 1987 None of the Dow 30 stocks closed positive on the day, the DJIA closed down -1164.52 points or -3.57% at 31490.06. … Continue reading “Market Wrap – Target in an Attack of the Dribblers Crashes Nasdaq, May 18, 2022”

Around The Barrel – Big Draws in U.S. Crude Oil and Gasoline as SPR Continues To be Emptied

The U.S. continues to drain it’s SPR which have not alleviated product shortages and the headline risk around the EU phasing out Russian oil by year end. EIA reported US Crude last week drew -3394Kbbl (incl: -2403K Draw at Cushing). Gasoline stocks drew -4779kbbl. Utilization rose -1.80% to 89.4%. Production -100k to 11,800 kbpd. East Coast diesel and heating oil inventories at fresh 32-year low (only data since 1990). The pricing hub of New York Harbor is virtually dry as … Continue reading “Around The Barrel – Big Draws in U.S. Crude Oil and Gasoline as SPR Continues To be Emptied”

Market Wrap – Walmart Trashed as Powell Came and Went May 17, 2022

The stock markets continued with no fear in a FOMO bear market rally. All this when Walmart had it’s biggest daily fall since 1987 and Fed chair Powell reiterated raising rates and cutting free credit. Never mind, the S&P 500 rose 2.0% on Tuesday, Nasdaq Composite (+2.8%) and Russell 2000 (+3.2%) while the Dow Jones Industrial Average rose 1.3%. Total retail sales increased 0.9% month-over-month in April (consensus 1.1%) following an upwardly revised 1.4% increase (from 0.5%) in March. The … Continue reading “Market Wrap – Walmart Trashed as Powell Came and Went May 17, 2022”

Market Wrap – Twitter Wars Live with Elon Musk and Jeff Bezos May 16, 2022

The stock markets continued in bear market rally mode, but the main distraction was Tesla’s Elon Musk feud on Twitter with Twitter chair over $TWTR numbers. We had another Billionaire, Amazon founder Jeff Bezos feuding with the Whitehouse over inflation blaming. Consumer discretionary sector was down the most with a 2.0% decline, this sector is down 8.4% this month and down 27.7% for the year. Tesla (TSLA 725.02, -44.52, -5.3%) and Amazon.com (AMZN 2224.63, -37.60, -1.7%) are notably dragging down the sector. Today’s winner … Continue reading “Market Wrap – Twitter Wars Live with Elon Musk and Jeff Bezos May 16, 2022”

Traders Market Weekly: Eyes Up on Retail and Inflation

May 15- 21, 2022 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… The Week That Was – What Lies Ahead? Contents Click on the links below to navigate to the relevant section. Part A: Stock markets Part B: Bonds Fed and Banks Part C: Commodities Energy – Oil and Gas Gold and Silver Part D: Foreign Exchange Geopolitics and Economics Economy Week ahead Editorial Friday gave us a … Continue reading “Traders Market Weekly: Eyes Up on Retail and Inflation”

Market Wrap – Bargain Hunters Lift NASDAQ Up into The Close May 12, 2022

The stock markets are still trading like they don’t want to go home short. Nasdaq erased -2.25% decline and closed marginally higher by 6.72 points or 0.06%. The Dow industrial average was down -605.89 points or -1.9% at its session lows and closed -103.83 points or -0.33% at 31730.29. S&P was down -76.38 points or -1.94% at its lows and closed -0.13% at 3930.09. From the all-time highs the Dow closed down -14.13% after trading as low as -15.49%, S&P … Continue reading “Market Wrap – Bargain Hunters Lift NASDAQ Up into The Close May 12, 2022”

Market Wrap – CPI, Apple and Tesla Fuel More Stock Market Wreckage May 11, 2022

Selling continued after CPI came in hotter than forecast, this time any recovery rally was quickly thrown back by the Bears. The S&P 500 fell 1.7%, Nasdaq Composite fell 3.2%, Russell 2000 fell 2.5% and Dow Jones Industrial Average declined 1.0%. Apple (AAPL 146.50, -8.01, -5.2%) and Tesla (TSLA 734.00, -66.04, -8.3%) led the destruction. DDD holdings were crushed again with Coinbase Global (COIN 53.72, -19.27, -26.4%) and Unity Software (U 30.30, -17.83, -37.1%) the latest to be pillaged. Natural Gas HH maintained its rally and bounced over $105 from … Continue reading “Market Wrap – CPI, Apple and Tesla Fuel More Stock Market Wreckage May 11, 2022”

Around The Barrel – US Crude Oil Strategic Reserves Falls at Record Pace to Lowest Since May 2001

Oil prices have continued to chop over $100 WTI as the U.S. continues to drain it’s SPR which have not alleviated product shortages and the headline risk around the EU phasing out Russian oil by year end. East Coast diesel and heating oil inventories at fresh 32-year low (only data since 1990). The pricing hub of New York Harbor is virtually dry. Oil prices continue to fluctuate with geopolitical elements and demand headwinds such as soaring interest rates, China’s COVID … Continue reading “Around The Barrel – US Crude Oil Strategic Reserves Falls at Record Pace to Lowest Since May 2001”

Market Wrap – Coin and Bitcoin Add to Dirty Dribbler Stock Earnings Wreckage Continues May 10, 2022

Selling picked up early in the markets but did reverse from the new lows after a better than expected 3-year treasury auction. However, the recovery bounce had a tepid response. The major US indices ended the day mixed. The Dow industrial average closed down; S&P index virtually unchanged while the NASDAQ rose nearly 1%. Natural Gas crashed further to HH 6.50 area to reverse with a vicious almost $1 bounce. Oil for its part traded under $100 WTI. Rising interest … Continue reading “Market Wrap – Coin and Bitcoin Add to Dirty Dribbler Stock Earnings Wreckage Continues May 10, 2022”

Market Wrap – Upstart and Palantir Crash as Bears Control from The Couch May 9, 2022

Selling picked up today with Natural Gas and oil also getting pounded. Rising interest rates, Russia’s war in Ukraine, and China’s COVID-related lockdowns. Upstart reported after the close and Palantir before, both proud members of the Dribbler Dirty Dozen and symbolic of the overvalued tech market. $PLTR fell 22% on earnings, $UPST 45%. The S&P 500 fell 3.2% on Monday, closing below the 4,000 level in a broad-based whacking led by the growth stocks. The Nasdaq Composite (-4.3%) and Russell … Continue reading “Market Wrap – Upstart and Palantir Crash as Bears Control from The Couch May 9, 2022”