Here are the market observations for today
- There is nothing to be excited about. No matter where you look, it looks bad. There is no story anywhere.
- SPY is trading down for the day. Intraday Selling is happening
- September is turning out to be a boring month with indices trading flat. SPY is marginally down month to date.
- Will Small Cap Index IWM breakout above 233? It needs to break out for momentum to sustain.
- The only pocket of excitement: Momentum in speculative growth stocks.
- Is CIDM going to be the next speculative growth play? A breakout above 2.2 will lead to strong gains.
- This is how stocks make a move after forming a Large Bullish Candle. BBIG Vinco Ventures doubled
- Has Elys finally found a bottom? Here’s how it appears on the chart.
- Will PXLW bounce from current levels. One can try his/her luck with a stop loss below 4.95
- It’s hard to buy a stock once it makes a 25%+ move on a single day, but usually, that’s the starting point of a long-term uptrend. Just see how Ambarella is making a move.
- GEVO is set to become the poster boy of Clean energy when it comes to aviation fuel. The partnership with Chevron is leading to a big move – Large Candle momentum. I will buy GEVO on any decline between 7-7.5.
- Airlines downgrade financial forecasts due to Delta variant impact but airline stocks are up sharply today. American Airlines +5% United Airlines +3% and Delta Airlines up 3%. One should avoid the sector.
- Sectoral Bullishness: Uranium. Most of the Uranium stocks are headed higher and the stock leading the pack: CCJ. The stock looks good here as it consolidates. I will watch the stock for few more days before buying.
- Sea Ltd SEA, a Singapore-based E-commerce and gaming company, is looking to raise $6.3 billion via stock and bond sale. The market does not like it and the stock is down. The company has $7 billion of cash on books and it looks like opportunistic fundraising than done to serve any business purpose.
- Why leading Pharma stocks have collapsed over the last two weeks? See for yourself: 1. Novartis; 2. Sanofi; and 3. GlaxoSmithKline GSK
- There is something about this stock – Matterport. The price action looks bullish and buy. The company offers virtualization tools and has Cushman & Wakefield as a customer.
- Blackberry is expected to announce earnings on Sep 22, 2021.
- Novavax disappoints again with a fall on rumors of adverse findings. I have a stop loss below 250
- I know what I have given you…I do not know what you have received.”….―
- Read Yesterday Daily Dose
Do let me know how I can make this section more useful.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purposes. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers
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