DAILY NOTE 1/16/2024

                                                                                                                            Right or Right Out!

After the close 1/17/2024

Market Insights Newsletter - Special Daily Edition

For Trading January 16^TH

                                                                                                                                                                         WALLER TURNS HAWKISH

                                                                                     RATES AND DOLLAR RISE

STOCKS LOWER, BUT NASDAQ LESS SO !!!

Bank stocks had split results with GS a clear beat +$2.70 (.7%), MS a beat on dramatically lowered expectations -3.73 (4.2%), and PNC mixed +$ .10, but it wasn’t really a major event for the market. The real action was in AAPL, who is removing the O2 sensor from their watches until they can settle the patent issue, BA continued lower on their 737 blowout issue, now fallen from $265 to close $200.20 -17.50 (8%) in the last 10 days, and continued strength in NVDA +18.47 (3.38%) and MSFT +1.93 (.50%).

The rest of the market was lower. DJIA -231.86 (.62%), NASDAQ -28.41 (.19%), S&P-500 -17.85 (.37%), the biggest loser was the Russell -23.66 (1.21%) and the DJ Transports was -127.95 (.83%). A/D was a dismal 7:3 on the NYSE and 3:1 on the NASDAQ, both to the downside and the volume of 6.4Billion shares was roughly 6:1 on the downside!

Our “open forum” on Discord, which allows you 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, and we’ve grown to almost 3000 members.

Tonight’s closing comment video: https://youtu.be/hLwMvtmf28w

SECTORS: All of my sectors wereeitherMIXED orLOWERtoday with only the Pot  sector showing a gain!

WORK FROM ANYWHERE:WASLOWERWITH ETF, WFH $54.15 -.19 (.34%)

Biggest gainer: NONE     Biggest Loser: TDOC -4.17%

INFRASTRUCTURE:wasLOWERwithETF, PAVE $33.46 -.23 (.682%).

Biggest Gainer: NONE                  Biggest Loser: HASI -2.51%

AIR & CRUISE LINES:wereMIXEDwithETF, JETS $17.90 -.25 (.68%)

Biggest gainer: JBLU +5.11%                         Biggest Loser: HA -3.42%           

FOOD SUPPLY CHAIN:wasMIXEDwith ETF, PBJ $45.49 -.11 (.24%)

Biggest Gainer: KR +.83%                           Biggest Loser: BGS -2.18%

BIO-PHARMA:wasLOWERwith ETF, IBB $136.53 -.50 (.44%)

Biggest Gainer: VRTX +.94%             Biggest Loser: INCY -2.23%

CANNABIS:wasHIGHERwith ETF, MJ $3.57 +.16 (4.69%)

Biggest Gainer: TLRY +12.93%                   Biggest Loser: NONE

DEFENSE:wasLOWERwith ETF, ITA $119.30 -3.04 (2.48%)

Biggest Gainer: NONE        Biggest Loser: BA -8.18%

RETAIL: wasLOWERwith ETF XRT $68.63 -.19 (.28%)

Biggest Gainer: TJX + .88%                       Biggest Loser: UAA -5.22%

FINANCIALS:WERELOWERwith ETF, XLF $37.34 -.26 (.69%)

Biggest Gainer: TRV + .59%   Biggest Loser: MS -4.69%

MEGA-CAP & FAANGwereMIXEDwith ETF XLK $192.72 +.48 (.25%)   

BIGGEST GAINER: NVDA + 3.36%       BIGGEST LOSER: BA -8.18%

A.I :stockswereLOWERwith the ETF: BOTZ $28.59 -.20 (.69%)

BIGGEST GAINER: IDAI + 7.52% BIGGEST LOSER: GFAI -12.88%

METALS:wereLOWERwith the ETF: XME $56.03 -1.50  (2.61%)

BIGGEST GAINER: CPER + .65%          BIGGEST LOSER: NEM -5.15%

ENERGY: $72.40 - .28  We had solid rally early todaythat took us as high as 73.64 before we turned down and closed near the lows, making it look like we’re headed for yet another test of support! The stocks however in the XLE showed gains finishing $80.71 -1.97 (2.38%).

NAT GAS: $2.90 -.42.The cold weather finally caught up to the extremely tight supply / demand of the Nat Gas market. Falling temperatures across the U.S. and Europe have sent prices sharply higher. From the sound of the reports I’m hearing, it seems that things may stay this way for a while, and some of the low readings in mid-America are new all-time lows!

BITCOIN: $43,295 -395Last week’saction showed that Crypto is managing to overcome the questionable player in the field along with more mainstream adoption and participation and possible regulation to remove the Wild West history of this market. I look for it to go higher from here over the intermediate and long term! GBTC finished the day at $38.32 -.26 and our open position in ETHE finished at $21.59 +.83.

Tomorrow is another day.

CAM

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