👀 A Market in Search of a Catalyst

Good morning. The trade war. The pandemic. The election. All the big catalysts that can move markets It’s the monthly jobs numbers today and they’re not going to be pretty and will be possibly the tip of the iceberg as we head into May. You’re receiving this email because you are subscribed to Trading Tips, if you no longer wish to receive these emails you can [unsubscribe here](. [Trading Tips] Good morning.The trade war. The pandemic. The election. All the big catalysts that can move markets up or down are now off the table. So what’s next? Until a new catalyst emerges, expect markets to drift. With markets in a long-term uptrend, the drift will likely be higher. Individual names can still have some big news on corporate announcements and earnings reports. And look for potential catalysts that could provide the market’s next big move, whether higher (stimulus) or lower (war, pandemic, today’s high valuations). Now here's the rest of the news: Sponsored Content [The 32-Second Options Trading "Training Video" Retirees Can't Get Enough Of]( Options expert Jeff Clark is on a mission to show every American at or near retirement how easy it is to trade options. [Watch his 32-second options trading "training video" HERE.]( MARKETS DOW 31,176.01 -0.04% S&P 3,530.92 +0.55% NASDAQ 13,530.92 +0.55% *As of market close • Stocks traded flat on Thursday, with traders watching corporate earnings roll in. • Oil declined 0.5 percent, closing at $53.02 per barrel. • Gold prices rose 0.2 percent, hitting $1,870 per ounce. • Cryptocurrencies sank, with Bitcoin sliding over 8.6 percent to $31,933. Today’s TOP TIPS [Analysts Cool on Coffee — Here’s One Way to Play for Safe Profits]( Restaurant stocks have fared relatively well the past few months on news of a Covid vaccine rollout. While that’s still an ongoing concern, the big move higher for restaurant stocks suggests a pause right now. That’s the case with MKM Partners, who has reiterated a neutral rating for coffee chain Starbucks (SBUX). Given that “sell” is a four-letter word on Wall Street, even a neutral rating suggests poor performance ahead. » [FULL STORY]( [Insider Trading Report: Phillips 66 Partners LP (PSXP)]( Phillip Barrington, a director at Phillips 66 Partners LP (PSXP) recently increased his holdings by 3.4 percent with the addition of 1,445 shares. He paid just over $30,000 to do so. He was joined by director Mark Haney, who bought the same amount, paid nearly the same amount, and increased his holding by 4.6 percent. The similarity of these buys is likely a purchase related to their board duties, although Barrington did make several larger purchases last year on his own. » [FULL STORY]( [Unusual Options Activity: Facebook (FB)]( Shares of social media behemoth Facebook (FB) have rallied modestly in the past few days as the backlash against social media firms has started to recede. At least one trader sees shares heading fundamentally higher. That’s based on the June 2022 $320 calls. Over 9,400 contracts traded against a prior open interest of 193, for a 49-fold rise in volume. The option expires in 511 days. Shares trade near $272, and would need to rally about 17 percent for this trade to move in-the-money. » [FULL STORY]( IN OTHER NEWS • [900,000 Americans file for jobless benefits in the past week.]( • [Amazon offers Biden resources for delivering the Covid-19 vaccine.]( • [Analysts are starting to expect a big infrastructure bill in the coming Congressional session.]( • [Homeowners are largely staying put, putting supply pressure on housing prices.]( • [Google agrees to pay French publishers for news content.]( • [YouTube launches hashtag landing pages to allow users to better discover content.]( • [In earnings, FuelCell energy drops following disappointing numbers.]( • [United Airlines reports its fourth-straight quarterly loss, and now expects a full recovery by 2023.]( • [Travelers beats on higher insurance premiums and rising investment values.]( • [American Eagle expects a drop in fourth-quarter revenue due to weak mall traffic.]( S&P 500 MOVERS TOP PCAR 10.46% BWA 6.654% INTC 6.46% ENPH 6.364% F 6.169% BOTTOM XEC 8.606% EOG 8.588% DVN 7.912% OXY 6.429% UAL 5.733% Quote of the Day I think people should exercise caution and be careful not to be so levered long to this equity market right now… I’m just watching and astonished. You know, companies that I passed on for $5 billion trading at $20 billion market caps with 1% gross margins and completely undefendable businesses with new competitors taking their lunch. - Barry Sternlicht, billionaire investor and founder of Starwood Capital, on the valuation of popular retail trades and why a small market pullback could be devastating for today’s day traders. Sponsored Content [The 32-Second Options Trading "Training Video" Retirees Can't Get Enough Of]( Options expert Jeff Clark is on a mission to show every American at or near retirement how easy it is to trade options. [Watch his 32-second options trading "training video" HERE.]( Not sure the best way to get started? 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