Tale of the Tape
Good evening everyone. Stocks rallied again today. Even banks closed higher. 😃
Just joshing ya Jamie D – banks have actually outperformed the S&P 500 over the last month +10% to +5%.
Today marked the 8th consecutive higher close for the Nasdaq Composite 💪
This is the first time since December we’ve seen such a run. This feels like a legitimate melt-up but it is 2020 so who knows. Regardless, thank you Market Gods 💰🙏 🐐
The leaders we’ve been discussing incessantly led again today. The usual suspects. $AAPL $AMZN $ZM $GOOGL $TSLA and their ilk.
Diversified Consumer Services was the strongest industry group rallying 3% plus. This includes companies like H&R Block, Graham Holdings, GSX (which has been hot lately), and Lincoln Educational Services. We don’t mention these guys much but they did take the day so cheers to them.
YTD, though, this basket of stocks sucks eggs for real – down 35% and performing worse than the Banks or Hotel and Leisure. lol.
Penn National Gaming
Penn National Gaming was strong like Ferrigno today ripping 17%.
$PENN is up 56% since it acquired a minority stake in Barstool Sports last January. Remember the infamous Emergency Press Conference?
But you gotta admit, Portnoy put on a solid performance on Cramer last night, teasing the gaming app and respectfully highlighting potential advantages over Draftkings.
Some hate $PENN stock. Roughly 18% of the shares outstanding are short. At some point those folks gotta cover… right?
Here’s the weekly chart. From insane moves come more insane moves. Will we see a breakout through $40? Place your bets…
The Chinese Technology ETF, $CQQQ gapped up and closed +2.18% making new 2 year-highs. $CQQQ is up 21.50% YTD and 44% off its March 18th low. Apparently, the tech phenomenon is international. 🌎🌍🌏
China tech is winning for now, hopefully there won’t be any more $LK fiascos.
Here’s the weekly chart. $CQQQ is only 5% off all time highs.
Today on Stocktwits…
You know what they say, right?
From FAIL-ed moves come FAST-ly moves.
$FSLY is already more than 7x off its March low.
Sorry, couldn’t help myself.
via Steve Strazza
Microsoft announced the release of STOCKHISTORY, the newest function to the Excel family.
STOCKHISTORY allows users to analyze their portfolios in Excel by pulling historical prices. You can even plop in charts and graphs. We see you $MSFT 👀
Dell to Spin Off VMWare?
After the close the WSJ reported that Dell was thinking about spinning off its $50B stake of VMWare.
Who knows what’s going to happen, nothing is official. Here’s the money quote from the Wall Street Journal.
It is also possible Dell will choose to do nothing. The review is at an early stage and no decision is imminent.
Will Dell sell? Only time will tell…
A Japanese-Inspired Home in the Middle of Texas
Links That Don’t Suck
🔌 Amazon to Launch $2 Billion Venture Capital Fund to Invest in Clean Energy
💳 Mastercard Is Buying Finicity For Open Banking Muscle
📱The Next Software Disruption: How Vendors Must Adapt to a New Era
🧱 From Student to Expert – the Long Road
🦠Why Weren’t We Ready For This Virus?
🚙 Tesla Made the ‘Most American’ Car Makers List for the First Time
🚘 Mercedes-Benz, Nvidia partner to bring ‘software defined’ vehicles to market in 2024