Bring on the Traders

Tale of the Tape

Good evening everyone. Stocks were mixed today with the Dow a bit lower and the SP500 and Naz a bit higher. None of the indices closed even 0.5% in either direction.

This was a relatively quiet Summer Friday which is just fine with us given the madness we’ve endured over the past four months. Bring on another July Friday snoozer next week IYDM Market Gods.

Despite the slow pace and low volume, there were some big moves in individual names and some wackiness to close the week.

The big cap tech weakness theme continued. Amazon lost more ground today and it was the first week since late 2014 that the stock gave up 5% plus while the S&P 500 closed higher. h/t Bespoke.

Meanwhile, Some of those COVID related biotech names popped off for real (See more below).

Banks ended the week in poor form down 2.3% after some of the larger ones we all know reported. Still, they eked out a small gain for the week. 

Finally, spot gold managed its highest weekly close since 2012. Do y’all care about gold? We’re genuinely curious. If you do, please let us know by replying with your best gif to this email. 

S&P 5003,224+0.29%
Russell 20001,473+0.39%
Dow Jones26,671-0.23%

Hot Stocks 🔥

There were some stocks that made big moves today.

💉 Novavax +16.7%
💉 Moderna +15.9%
 🚀 Virgin Galactic +14.4%

2 of the 3 names listed above are biotech stocks working on a cure for COVID19. $SPCE, well that’s a tourism play that’s outta this world. 🌎 👨‍🚀 

Tech > Energy? 

It’s 2020, everybody knows tech is up big and energy sucks, but tech hasn’t outperformed energy to this magnitude since the dotcom bubble. Are we headed towards the same fate? Place your bets… 😉

The chart above features Technology ETF, $XLK relative to Energy ETF, $XLE dating back to 1998.

Bring on the Traders

We all know that 2020 has been the year of the retail trader. Not only were the Robinhood freaks buying Airlines at the bottom while Buffett was capitulating, but the sheer number of people coming into the markets, as pro sports got delayed, has been mind boggling.

Evidence – these charts Bianco Research put together showing the steep rise in retail metrics by Charles Schwab: Have a look 👀

Netflix is dropping $200M on a movie.

A new Netflix film has been announced. Ryan Gosling and Chris Evans will star in Thriller with a $200M price tag. This will be the biggest budget Netflix has ever allotted for a film. 

Here’s more from Complex.

Here’s a thought, instead of making this film, Netflix could take the $200M and buyback more than 400,000 shares… 

This is Cool.

Check out these greenhouses.

Via Architectural Digest


Malmo, Sweden

Photo of the day via Reuters


This meme is brought to you by @WallStreetBets/IG.

Links That Don’t Suck

🕹 How Xbox and PlayStation Plan to Duke It Out This Fall

Laser-Shooting Planes Uncover the Horror and Humanity of World War I

🌊 Flow Through the Shortcut

⛷ Skiing Little Cottonwood Canyon

⛪️ Notre Dame Cathedral Fire Update – What New Notre Dame Looks Like

🏴‍☠️ What Made the Viking Longship So Terrifyingly Effective