HI Market View Commentary 11-29-2021
- 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
- Jim Labenthal: “DIS’s growth is going to outpace the market”
Where will our markets end this week?
DJIA – Bullish
SPX – Bullish
COMP – Bullish
Where Will the SPX end November 2021?
Thur: CCL, KR, MRVL
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?
- Looking to see how news and stocks play out from the Omricon situation
COST – 12/09
MU- 12/22 AMC
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