Guess what? The “January Effect” kicked in! As discussed and posted before the holidays, I was expecting the “January Effect” to kick in and bid up those extremely oversold “value” plays wherein all of a sudden they get bought up again. Well, my two favorite themes – IPOs and Pot Stocks – did just that […]
Macro-to-Micro Analyst+Trader Forecast+Chase. Mostly Options https://t.co/MrMkwZYdvt https://t.co/GZILqexQ5C https://t.co/nkIPvSz3wJ… @LaDucTrading
PLACE YOUR BETS
House vote is expected later Thursday on agreement extending government funding into mid-February https://www.wsj.com/articles/lawmakers-reach-deal-to-prevent-government-shutdown-11638454923?st=vt4m12prwqlr5kt&reflink=desktopwebshare_twitter via @WSJ
Sell the rumor, Buy the news
THE WHITE HOUSE WANTS A STOPGAP FUNDING BILL PASSED AS SOON AS POSSIBLE.
Until the $AAPL falls from the tree...
We may not have a gap down, but Apple is finally falling from the tree, on news that its iPhone demand has weakened. Not only will Apple weigh down Nasdaq/Tech, Semis will be impacted by Apple's demand forecast. $QQQ
Nasdaq composite is off its ATH by just 3.2%, mostly because AAPL, MSFT, GOOG, NVDA and ADBE have held up.
BUT 66% OF NASDAQ STOCKS ARE IN A BEAR MARKET
35% HAVE LOST MORE THAN 50% SINCE THEIR ATH
Breadth is usually a leading indicator of trend.