Good morning. On Friday, the stock market broke its 200-day moving average lower for the first...
Itâs the monthly jobs numbers today and theyâre not going to be pretty and will be possibly the tip of the iceberg as we head into May. [Trading Tips] Good morning. On Friday, the stock market broke its 200-day moving average lower for the first time since July 2020. Stocks are looking at oversold levels going into the weekend, with many names down much further than the overall stock market index. But yesterdayâs wild trading saw a massive drop reverse into a gain at the close. This reversal could be a sign of capitulation by sellers, and that the worst of the current decline is over. With leveraged traders already wiped out, and plenty of cash from retail and institutional investors on the sidelines, the market could see a strong bounce back recovering half or more of its losses in just a few weeks. Traders should line up their future positions now if they havenât yet, and select prices at which to start buying even while it looks like carnage out there now. Now here's the rest of the news: Sponsored Content [FINAL MONTH to claim your shares in a $35B+ industry]( How? With [Ei.Ventures.]( They are the first Psychedelic Medicine company in the world to qualify for a Reg A+ Tier 2 offering and their flagship product [âPsillyâ]( has the potential to help millions of people who struggle with mental illness. [Ei.Ventures]( recently announced a merger exploration with Mycotopia. This $360M transaction includes the formation of PSLY.COM and plans to list on NASDAQ. And if that isnât enough proof of Psillyâs potential, just think back to the not-so-recent Cannabis explosion. Psychedelic medicine is next. [Claim your shares before the opportunity closes 2/22.]( MARKETS DOW 34,364.50 +0.29% S&P 4,410.27 +0.28% NASDAQ 13,855.13 +0.63% *As of market close ⢠Markets reversed higher on Monday, after each index was down more than 3 percent intraday. ⢠Oil dropped 1.6 percent, hitting $83.80 per barrel. ⢠Gold rose 0.5 percent, last going for $1,841 per ounce. ⢠Cryptocurrencies reversed weekend losses, with Bitcoin at $37,115 at the stock market close. Todayâs TOP TIPS [Opportunities Rise in Big Tech Amid Market Meltdown]( Investors looking for bargains in todayâs market have their pick right now. This may be a good time to look at companies that dominate their industry now, as a rebound will likely make a leader prohibitively expensive to buy later. With a market drop heavily focused on the tech space, this may represent the best opportunity for buying big tech names for some time to come. » [FULL STORY]( [Insider Trading Report: Oracle Corp (ORCL)]( Charles Moorman, a director at Oracle Corp (ORCL), recently picked up 15,000 shares. The buy increased his stake by 27 percent, and came to a total price just over $1.25 million. Insiders have a mixed history over the past few years, with more sales than buys, as is fairly typical for tech companies, which tend to be generous with their share issuance to company executives. The last buy came from another director back in October for nearly $222,000. » [FULL STORY]( [Unusual Options Activity: Boeing (BA)]( Shares of airline manufacturer Boeing (BA) have been gradually trending down over the past year. However, one trader sees the possibility for a strong rebound in shares in the next few weeks. Thatâs based on the March 4 $250 calls. With just under 40 days until expiration, 4,707 contracts traded compared to a prior interest of 138, for a 34-fold jump in volume. The buyer of the calls paid $1.26 to make the trade. » [FULL STORY]( IN OTHER NEWS ⢠[S&P 500 Hits Correction Territory]( Mondayâs selloff in the stock market brought the S&P 500 index into correction territory, with a drop of over 10 percent from its all-time high. The move comes after the Nasdaq went into a correction last week. With a busy week ahead for earnings as well as a Fed meeting, more volatility is likely. ⢠[Grantham Warns on âSuperbubbleâ]( Hedge fund manager Jeremy Grantham states that markets are still in a superbubble, that that the bursting of this bubble will be painful. Grantham has also made similar bearish statements in 2000 and during the financial crisis in 2008. ⢠[Kohlâs Jumps on Buyout Offers]( Apparel chain Kohlâs Corporation (KSS) has reportedly received a number of letters of interest in the company being acquired. One bid is for a reported $9 billion, which led to a 34 percent jump in shares on Monday, bringing the stock closer to an $8.7 billion market cap. ⢠[Google Files to Dismiss Texas Antitrust Suit]( Big tech player Google (GOOG) has filed a motion in federal court asking to dismiss most of the counts brought up by the state of Texas. The suit alleges that Google operates a monopoly in online advertising, and was first announced in late 2020. An updated complaint was filed last week. ⢠[Blankfien: âCrypto Is Happeningâ]( With a massive bear market in cryptocurrencies underway, former Goldman Sachs (GS) CEO Lloyd Blankfein still sees value in the digital assets. His view that âcrypto is happeningâ comes as companies and consumers have come to embrace the technology, and investment interest has exploded. S&P 500 MOVERS TOP M 17.664% GPS 6.873% GNRC 5.355% BBWI 4.543% BBY 4.422% BOTTOM BIDU 5.713% SBNY 5.427% MRNA 4.798% PFE 4.016% TSLA 3.989% Quote of the Day Given the emotional decline in the stock market of the last few days, fundamentals have been suspended as market action is entirely tied to technical support levels. Until a level is reached in this collapse... fundamentals like bond yields, economic reports and even earnings releases will not likely have much impact. Fear now must be extinguished by some stock market stability before traders and investors again start to consider fundamental drivers. - Jim Paulsen, chief investment strategist at Leuthold Group, on the marketâs recent steep decline, and the catalyst needed to stop the carnage. Sponsored Content [FINAL MONTH to claim your shares in a $35B+ industry]( How? With [Ei.Ventures.]( They are the first Psychedelic Medicine company in the world to qualify for a Reg A+ Tier 2 offering and their flagship product [âPsillyâ]( has the potential to help millions of people who struggle with mental illness. [Ei.Ventures]( recently announced a merger exploration with Mycotopia. This $360M transaction includes the formation of PSLY.COM and plans to list on NASDAQ. And if that isnât enough proof of Psillyâs potential, just think back to the not-so-recent Cannabis explosion. Psychedelic medicine is next. [Claim your shares before the opportunity closes 2/22.](
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