State of the Stocks
DOW +72.88—-NASDAQ +36.77—-SP500 +8.89—-NYSE +43.93
Portfolio Leaders: AMZN, SHOP, BA
Portfolio Laggards: AEO, T, CAT
Stocks are doing well this morning, as they were doing yesterday. And depending on today’s speech coming from Federal Reserve chairman Jerome Powell.
Trump yesterday said that if he were impeached the markets would crash and people would be very poor. Okay let’s analyze this… basically, the stock market is doing well because it’s earnings time and many companies have posted better-than-average earnings this quarter. Why would companies do that? Well, growth and profits? Like, they can do all this on their own, hullo? But, companies did get a boost with tax cuts that benefitted the rich, large corporations and CEOs. But you have large corporations like Amazon (AMZN) and Apple (AAPL) who were leading the way in profitability, and whose influence is so great that they affect the markets as a whole. If these two companies were impeached, so to speak, then the markets would crash and people would be very poor. But even then, the American people would do okay. We’ve been in a Bull Market for the past 10+ years, long before Trump became president.
So, in short, Trump is talking the talk and spewing out hot air, in my humble opinion.
2017 admittedly was one long uptrend, and I can attribute that to a new president who’s Republican and many Republican investors got their hopes up in 2017, putting their money into the stock market. But in 2018, and especially right after Trump’s SOTU address, the markets tumbled into correction territory and the markets have been slowly climbing but it’s been choppy waters since January 2018.
Once again, stock market is doing great because of earnings.
Music and Investing
For me personally, being a musician and trading on the stock market are two different careers, yet go hand-in-hand and compliment each other.
I’m self-employed, and for the most part I have flexible hours. I get called on a lot of gigs but I am selective and choose the gigs and musical groups I enjoy working with, along with the venues that I like a lot. Perhaps, this is a blessing. But Life is short, and it’s important to be as happy as you can be.
With trading stocks, many times I do have to wake up early, but I’m now used to being an early riser, and the gigs I do as a musician are in the earlier hours, so no more late, late gigs for me where I would come home at 3am in the morning. Well, those gigs are very rare now.
The important thing is to find balance in one’s life. For me, being a stock trader and musician fulfill’s a certain balance in my Life.
American Eagle Outfitters (AEO)
I’ve recently bought shares of AEO. They have a great 6 month uptrend. And one of the few retail stores that seem to have a very good chart. Although, the stock is down this morning.
I’m invested in QCOM for a short term trade that should take advantage of dividend capture strategy. QCOM’s ex-dividend date is 9/4/18.
Amazon has had two stellar quarters recently and the stock is expensive, yet climbing. Analysts are saying accumulate, outperforming, buy, and go long. The CFRA gives the stock a 4 star rating.
More Investing Thoughts
Monday, November 19, 2018: Day Trading Notes, Waiting for December
Monday November 19, 2018 by Carlos Rull
Filed as: Money, Trading Notes
Trading Notes: Analysis of a Day Trade
Saturday November 17, 2018 by Carlos Rull
Filed as: Money, Renegade Mobile Trader, Trading Notes
Friday, November 16, 2018: Volatility Equals Day Trading Opportunities
Friday November 16, 2018 by Carlos Rull
Filed as: Money
Friday, November 9, 2018: Post-Midterm Election Update and Day Trading
Friday November 9, 2018 by Carlos Rull
Filed as: Money, Trading Notes
Wednesday, October 31, 2018: Halloween Edition – Bears Were Spooked!
Wednesday October 31, 2018 by Carlos Rull
Filed as: Money, Stocks