2021-08-31 11:40:33
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American Express (AXP)
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Facebook (FB)
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The S&P 500 and Nasdaq 100 reached new all-time highs today as the market remained in it's positive momentum in the final days of August. The Dow Jones was more mixed and shuffled between gains and losses in afternoon trading. Overall,
markets are mixed with tech stocks, such as Apple, Microsoft, Facebook and Netflix trading higher and financial stocks, as well as travel related names trading lower. PayPal was the exception in financial sector benefiting from news that the payment giant explores offering a stock-trading platform for its customers.
We combine the weak performance in both sectors and position us SHORT in American Express. The US. had 588 new COVID-19 cases per 100,000 inhabitants in the two weeks ending Aug. 22, according to the European Centre for Disease Prevention and Control, well above the limit of 75 set out in the EU guidelines.
EU countries voted to subject the US to fresh restrictions on nonessential traveling, dealing a blow to the travel related stocks. Also Israel, Montenegro and some other small countries were removed from the EU’s safe-travel list. My Southwest Airlines position hit SL after opening slightly higher. While the airline will recover in September, further short-term losses are likely. If you are still in, please set a SL not lower than
48.99. The financials sector faces additional pressure from lower US Treasury yields and was today's weakest sector (- 1.27%).
The important 10-y US Treasury yield fell below 1.28% and continue to fall shortly before the end of regular US trading - lower US Treasury are good for the investment heavy tech industry. At the same time, we position us LONG in tech.
I see both Facebook and (PREMIUM ONLY) to continue to move gradually higher this week as they remain in a very stable tight bullish price channel and l(PREMIUM ONLY)
(which you can ... (PREMIUM ONLY) ...
Tip: Multiply your usual lot size by ~ 350 - 400 (35,000% - 40,000%) trading American Express (AXP).
Tip: Multiply your usual lot size by ~ 140 - 160 (14,000% - 16,000%) trading Facebook (FB).
Tip: Multiply your usual lot size by ~ (PREMIUM ONLY) trading (PREMIUM ONLY).
Tip: Multiply your usual lot size by ~ (PREMIUM ONLY) trading (PREMIUM ONLY).
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(non-delayed signals in VIP group).
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17 viewsBobby, 08:40