Stocks Surge To Record Highs, What Now Bears?
The bears can't be feeling too good; the S&P 500 just closed at an all-time high today. Don't worry, Bears; there is more pain ahead.

Stocks Surge To, and Close at Record Highs, What Now Bears?

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

Otherwise, enjoy the column!

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October 28

Stock mentions: GOOGL, ROKU, BYND, AAPL, SNAP


The S&P 500 rose by 55 basis points today, pushing the S&P 500 to close at a new all-time high of 3,039. We can see on the chart that the index rose to around 3,040, and just stopped rising. The natural course of action by the S&P 500 should be a retest of today’s breakout. So we can watch for that, and I’d like to see that retest happen sooner than later.

S&P 500, spy

Alphabet (GOOGL)

Alphabet reported results, and the earnings seem confusing. It looks like a big miss on the bottom line, but if you dig through the report, you can see that those traders at the Google Hedge Fund unit, of course, I’m joking, didn’t have a good third quarter. The loss is due to a $1.5 billion loss on investments, which resulted in a decline in other expenses of $549 million.  If you adjust for those investment losses, according to my math, you will get an earnings beat. Perhaps, during the conference call, the company can explain that a bit, and then tomorrow, once the algo’s clear out, the stock can trade higher. The results look fine.

Hey anybody, know any good traders out there? 😛

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As I noted in today’s midday update, if the stock can clear $1,300, then it could be on the verge of a big break out. Happy Days Are Here Again As Stock Surge To Record Highs



SNAP may be breaking out of the falling wedge, and that means that the stock could rise towards $15.50


Roku (ROKU)

Roku is back to resistance around $150. As I noted today in the midday the commentary I don’t think this rally will last.

roku, roku

Apple (AAPL)

Apple seems overbought now, look at that RSI. I don’t see how this can continue to rise at this pace. The stock needs to cool-off. Unfortunately, it may not happen until after results. I talked about this more in a premium commentary, including where I think the stock may fall too.  Apple May Slide Following Results

Apple, aapl

Beyond Meat (BYND)

Beyond Meat is falling after results to around $98. The results look strong from several metrics. It just too bad that the company has a market cap of $5.95 billion on full-year revenue guidance of $270 million at the mid-point. I wish all of my stocks traded with that kind of multiple. That is crazy, I’m sorry. Play this at your own risk. I don’t see how this doesn’t keep trading lower.

beyond, bynd

Ok until tomorrow


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