The market has lots to worry about

Here are the market observations for today

1. The market climbs the wall of worry but sometimes it can slip too. There are too many things to be worried about from delta variant to inflation to economic growth.
2. The biggest worry: The nature of the market has changed. Every time the market opens strong, traders hammer it down. Sell the strength is the new game in the town.
3. September is living up to the reputation. S&P 500 this month
4. Inflation is showing no signs of cooling off. The CPI grew 0.3% in August compared to July, slightly below the 0.4% expected and 0.5% posted last month. But compared to August 2020, CPI is up 5.3%.
5. We are in a difficult market environment where stocks are more inclined to sell off than rally.
6. Comcast, the company that’s play on US broadband consumption sold off today on a hint of a slowdown in subscriber growth.
7. Aggressive profit booking in speculative stocks today be it ATER down 30% or BBIG down 15.43%
8. Speculative momentum stock in motion: 1. AEHR and 2. PXLW  [Semiconductor Stocks]
9. Is SmileDirect Club the new meme stock? I am scared to recommend it as it has a horrible chart but the volume is insane. If history is any guide, one should keep a close eye on what the stock does from here on.
10. The good news: there is no momentum on the downside when it comes to indices and there is some latent strength in small caps
11. Has CLF come down to the support level where one can buy?
12. GEVO, a clean energy play is now testing patience and nobody knows where it will find support?
13. US 10 Year Treasury yield is going down and that’s pulling down banks.
14. Chinese stocks and businesses linked to China are in trouble. Today Casino stocks linked to Macau growth getting hammered.
15. Earnings Momentum that leads to Gap up drives strong gains. PANW Palo Alto Networks doing the same. I recommended the stock at 436.
16. Breakout in motion: 1. Alight ALIT; 2. nCino; 3. ROVR and 4. Matterport MTTR
17. It’s not the profit but the revenue growth that matters. Oracle stock disappointed on revenue and the stock is trading gap down.
18. Are Gold mining stocks bottoming out? I am not recommending them. Just making an observation.
19. Are Uranium mining stocks – Buy on a pullback? UROY has a compelling chart. The stock is a buy at the current market price.
20. “There is a time to go long, a time to go short, and a time to go fishing.” – Jesse Livermore

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