GWO Daily Note 11/13/2019
Market Strategies Newsletter - Special Daily Edition
For Trading November 14th
DIS+ Falters & Goes + $10.00
Transports Collapse Further
CSCO Beats & Falls
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Today’s market started out lower, falling -104 in the first minutes of trading before turning back up and working its way back to unchanged by 10:45, spending an hour going sideways until we rallied to the highs +115 by 2:00. After a headline about a “snag” in the U.S. / China talks on agriculture purchases. Falling back to +12 before moving back to close +92.10 (.33%), NASDAQ -3.99 (.05%), S&P 500 +2.20 (.07%), the Russell -5.94 (.37%), and the DJ Transports -116.63 (1.06%). Market internals were AGAINnegative with the NYSE 13:15 and NAZ 2:3. The continued failure of the Transports, first to not make a new high, and now falling by over 384 (3.4%) in the last 4 days while the DJIA makes little headway, buoyed by 1 or 2 individual stocks to support it. This is a market that is divergent from what the economy is actually telling us. The DJIA was also 14:16 Down and the only big winner was DIS, adding 69DPs to the effort followed by AAPL +17 more.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is:https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights.
SECTORS: Other names in the news: As the earnings parade continues we had a beat at CSCO, on both top and bottom lines but gave poor guidance and B2B orders. The stock, which had rallied from $40 to $58 this year has already come back down 20% to close the day $48.46 and fell to $45.12 and finished $45.98 – 2.48 (5.1%).
On the plus side was DIS, announcing that they had 10 Million subs after its first day of business, causing the site to crash. Even so, the stock finished $148.72 +10.14 (7.3%). AAPL received yet another upgrade with a price target of $295 and started on the way $264.47 +2.51 (1%). NKE decided to abandon AMZN for direct sales and it added $1.79 (2%) while AMZN was $1753.11 -24.89 (1.4%).
Smile Direct: SDC, the incredibly unsuccessful IPO, priced at $23 in September and never trading above $21.10 and fell to $8.73 last month had rallied back to $13.50 this month reported Q3 numbers and after closing 11.08 -.77 (6.5%) fell again to 9.88 and is now $10.25 -.83. It continued lower today to close $8.83 -2.25 (20.13%) and only $ .02 from another new low.
And, today’s Disaster du Jour was yesterday’s HOMERUN of the Day, Applied DNA: APDN, which was a reverse split 1:40 last week reported successfully “tagged” leather for protection of products, brands and complete supply chains. The stock closed $4.40 and after trading as high as $19.69, closed $19.00 +331.82%). Today, after announcing an offering of a unit (stock and warrant) of 2.3 million shares @ $5.25, it collapsed right back down to open $4.76 and finished $5.18 -13.82 (72.74%). LIVE BY THE SWORD, DIE BY THE SWORD!!
Unfortunately, that’s it for tonight. My Stress Test left me a bit beaten up. I’ll be back with the full Daily Note tomorrow night.
Tomorrow is another day.
CAM
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