HI Market View Commentary 11-29-2021

HI Market View Commentary 11-29-2021

https://go.ycharts.com/weekly-pulse

Black Friday the market finished down -2.3% for the half trading day.
News of an “Omicron Covid Variant” running through South Africa quite quickly.
Looks to be more contagious than Delta
Fear of economy getting shut back down
Travel closed from South Africa and surrounding countries

What was our conversation? What would we do?

When you don’t know what’s happening, you don’t have to force something to happen.
Focus on one thing at a time.
Take what you know and be honest about what you don’t know
“Take the next right step” -Frozen 2
We knew there was a high degree of irrational selling
We didn’t know what was going to be shut back down if anything.

What did we do?

BAC? FED is going to have to raise rates next year no matter what. Held 50 dma
BA? Travel is being restricted
AAPL don’t know enough
UAA held up toward the end of day

DIS –

Jim Labenthal: “DIS’s growth is going to outpace the market”
https://www.cnbc.com/video/2021/11/11/jim-lebenthal-disney-will-be-better-returner-than-the-sp-500-overall.html

Where will our markets end this week?

Higher

DJIA – Bullish

SPX – Bullish

COMP – Bullish

Where Will the SPX end November 2021?

12-03-2021 +1%

11-22-2021 +2.5%

11-15-2021 +2.5%

11-08-2021 +2.5%

11-01-2021 +2.5%

Earnings:

Mon: KR

Tues: CRM

Wed:

Thur: CCL, KR, MRVL

Fri:

Econ Reports:

Mon: Pending Home Sales (Higher),

Tues: Housing price index, Consumer Confidence

Wed: ISM Manufacturing, Construction spending

Thur: Continuing Claims, Initial Claims

Fri: Payrolls, Unemployment rate, Ave. work week.

How am I looking to trade?

COST – 12/09

MU- 12/22 AMC

www.hurleyinvestments.com

Questions???

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