Tale of the Tape
Good evening folks. Everyday there are more reasons why the market oughta fall outta bed, and everyday the market rips anyway. The Dow closed above 25,000 for the first time since March 10.
The information we have is imperfect and the future is unknown. Gotta be humble in the presence of stonks.
The S&P 500 closed up another 1.5% today, and once again we got the laggards leading. Financials, small caps, and value were all aces, while large cap tech trailed.
You can frame this as constructive as we get rotation out of the winners without the market tanking plus market breadth improves.
The COVID losers rallied hard with hotels, cruise liners and airlines all beating the market with ease.
Will this rotation continue? Place your bets…
Here’s a look at your major equity index performance:
| S&P 500 | 3,036 | +1.48% |
| Nasdaq | 9,412 | +0.77% |
| Russell 2000 | 1,436 | +3.11% |
| Dow Jones | 25,548 | +2.21% |
Thirsty for Guidance 💦
Micron Technology jumped 8% today after the company raised its Q3 earnings guidance midday. The stock rocketed off the news as investors appear to be thirsty for guidance. Check out $MU’s 5-min chart. The blue arrow is when the news hit the tape.
Micron closed at $49.44, the stock hasn’t closed above $50 since March 6th.
Tractor Supply also provided guidance this morning. $TSCO closed up 7.69% making new all time highs. Read the press release here.
Skin in the Game Podcast – Beta
We’re working on a new Stocktwits offering called The Skin in the Game Podcast.
The idea is to interview brilliant people who have real risk – whether they are investors or entrepreneurs.
Our first Beta broadcast features Gregor Macdonald – energy expert and genius of all things real.
Gregor is an entrepreneur and author who began his own digital research publishing firm before tools like Substack or Gumroad existed. He is a trailblazer.
We talk about the energy markets, publishing, and a lot more. You can listen here.
We’d love to get your feedback by replying to this email or hitting us at newsletter@stocktwits.com. What do you think of the format, guests you’d love to hear, and/or anything else. Our ears are open! 👂🌽🦻
Americans Are Avoiding Public Spaces Less and Less
Americans are still avoiding public spaces, but we’re doing it less and less over time. This chart from Gallup shows the slow and steady return.
Today on Stocktwits…
Greg Rieben shared a chart of the financial ETF, $XLF breaking out of a seven week trading range. If it doesn’t reverse tomorrow, this could be big.
SpaceX Scrubbed for Saturday
SpaceX’s Demo-2 was supposed to launch at 4:33 ET today but due to poor weather conditions the launch was scrubbed for Saturday.
Here’s SpaceX with more information.
Quibi Response
Well folks, the verdict is in. No one is using Quibi lol. Here’s our favorite response to last night’s post.
Quibi–
I honestly tried it for two weeks. It was so hard to get into watching videos that are 8-10 minutes long. Imagine holding a phone above your head for like 6 minutes and then accidently dropping it on your face. (Yeah, that happened.) Oh and aspect ratios are crazy.
S/O Drew aka DMZ09 for the astute and honest review.
Earnings Tomorrow
Be sure to know when your stocks report earnings. Here’s the full earnings calendar.
Links That Don’t Suck
Real Reasons Why Tech Giants Are Hugging “Remote Work”
Bryce Canyon Was the Reprieve I Needed
The 30 Best Movies and TV Shows about Space
Pop Culture as an edge in business
Money Pours Into Podcasts
An ‘Avalanche of Evictions’ Could Be Bearing Down on America’s Renters
ATH…Almost….Kinda…Well, Not Really
