🗻Why We’re Nowhere Near a Market Top🗻

Good morning. The volatility of the past week has been a wake-up call for... 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. [Trading Tips] Good morning. The volatility of the past week has been a wake-up call for some. However, there’s also been a lot of overly bearish fears. It’s true that we expected markets to have a pullback. That’s usually what happens in the autumn. And with the market going a record time without even a 5 percent drop from its peak, there was certainly some room for a drop. Now with the Evergrande debacle, some see a bigger drop ahead, perhaps even the next bear market. But the psychology for such a drop just isn’t there. Bull markets don’t die of high valuation. They end when traders are all-in. Given the number of more cautious traders on the way up – ourselves included—this recent volatility may continue. But it’s not going to result in a full market meltdown. Now here's the rest of the news: Sponsored Content [Urgent New Crypto Alert – BUY BUY]( Silicon Valley millionaire Jeff Brown called it in 2014, when he first bought Bitcoin. In 2015, he called it again, when he publicly recommended Bitcoin at $240... In 2016, he recommended Nvidia at $25... before it hit $799... and he predicted the #1 returning tech stock in 4 years out of 5... In 2017, he called it again – when he recommended Bitcoin again along with two other cryptocurrencies, which have since soared as high as 924.3%... Now he believes THIS could be his most profitable public recommendation to date! [Click here for the full details on his urgent new buy alert before it expires.]( MARKETS DOW 34,235.01 +0.93% S&P 4,393.19 +0.90% NASDAQ 14,896.85 +1.02% *As of market close • Stocks moved higher on Wednesday, as the Federal Reserve declined to change its policy. • Oil rose 2.4 percent, closing at $72.15 per barrel. • Gold declined 0.5 percent, last going for $1,767 per ounce. • Cryptocurrencies moved higher, with Bitcoin at $43,484 at the stock market close. Today’s TOP TIPS [Slowing Growth Won’t Impact This Entertainment Giant]( The pandemic impacted how nearly every company does business. Some fared well thanks to pivoting to faster growth opportunities, even as traditional lines of business struggled. One such company is The Walt Disney Company (DIS). The company’s theme parks faced unprecedented closures, and its cruise line was halted. But rising streaming subscribers created years of growth in a recurring-revenue stream for the company. » [FULL STORY]( [Insider Trading Report: Lakeland Bancorp (LBAI)]( Brian Gragnolati, a director at Lakeland Bancorp (LBAI), recently picked up 2,000 more shares. The buy increased his stake by nearly 13 percent, and came to a total cost of just over $32,000. Other company insiders have also been buyers in recent months. The company’s Chief Information Officer (CIO) bought 3,000 shares last week as well, a buy of nearly $50,000. Overall, company insiders have been large and consistent buyers with only some small sellers in the past three years. » [FULL STORY]( [Unusual Options Activity: Uber (UBER)]( Shares of ride share company Uber (UBER) have been in a decline for several months, although shares did pop higher on Tuesday thanks to the company’s forecast for its first profitable earnings report. One trader sees the downtrend continuing, however. That’s based on the June $25 puts. With 267 days until expiration, over 9,450 contracts traded against a prior open interest of 181 contracts, for a 52-fold rise in volume. The buyer of the puts paid about $0.50 to make the trade. » [FULL STORY]( IN OTHER NEWS • [China Evergrande Makes Deal on Domestic Bond Payment]( Imploding Chinese real estate developer Evergrande reached a deal over an interest payment due on its domestic bonds this week. That avoids a default, a key reason for Wednesday’s rally in stocks. However, international owners of the company’s debt may not be so lucky, and the saga will likely have a few more twists and turns ahead. • [US Moves a Step Closer to Debt Default]( Moody’s has warned that a US debt default would be a “catastrophic blow” to the US economy. The government’s inability to pay its bills could wipe out 6 million jobs and potentially lead to the next bear market in stocks. The US Treasury reports that it will run out of cash in October if the debt ceiling isn’t raised. A bill has passed the House to do so, but not the Senate. • [Existing Home Sales Drop 2 Percent]( US home sales dropped 2 percent in August, a sign that the red-hot housing market is starting to cool. Existing home sales fell to a seasonally adjusted annual rate of 5.88 million. Accounting for new homes, the drop in sales was only 1.5 percent. Home sales can be seasonal, often centered around the start of a school year for homes in choice districts. • [Coinbase Preparing a Federal Regulatory Framework for Cryptocurrencies]( Cryptocurrency brokerage firm Coinbase (COIN) is working on a framework to help federal regulators in the cryptocurrency space. The company expects its draft legislation next month. The move allows regulators to have industry feedback before creating new rules and regulations. • [Robinhood Testing Crypto Wallets]( Online brokerage firm Robinhood (HOOD) is looking to test crypto wallets for select clients. That will allow investors to use the Robinhood app to send, receive, and move cryptocurrencies. The company derives a large amount of revenue from crypto sales, but the existing platform only allows customers exposure to crypto prices, not actual ownership of cryptocurrencies. S&P 500 MOVERS TOP APA 7.565% DVN 7.213% MGM 6.56% MRO 5.872% FANG 5.747% BOTTOM FDX 8.799% INCY 7.941% FB 3.794% ADBE 2.954% UPS 2.198% Quote of the Day We’re still in a position where ultimately stocks are going to rally hard off this, because unless Evergrande is going to cause a real seismic effect on the U.S. economy, the U.S. fundamentals are in good shape. - Tom Lee of Fundstrat on why the market will ultimately recover from the Evergrande implosion, possibly more quickly the sooner the full extent of the potential economic damage is known. Sponsored Content [Urgent New Crypto Alert – BUY BUY]( Silicon Valley millionaire Jeff Brown called it in 2014, when he first bought Bitcoin. In 2015, he called it again, when he publicly recommended Bitcoin at $240... In 2016, he recommended Nvidia at $25... before it hit $799... and he predicted the #1 returning tech stock in 4 years out of 5... In 2017, he called it again – when he recommended Bitcoin again along with two other cryptocurrencies, which have since soared as high as 924.3%... Now he believes THIS could be his most profitable public recommendation to date! [Click here for the full details on his urgent new buy alert before it expires.]( Not sure the best way to get started? 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