So we had an interesting Monday as the Federal Reserve (a.k.a crooked bankers) continued to ease market fears with extended buying of corporate bonds. The DJIA opened down 500 points only to finish up 150 points by the end of the day for it’s largest 1 day reversal since March. Combine that with improving retail and jobless claim numbers and voila. The rest of the week was largely stable and steadily rose overall. All sell offs are being bought up as well. LOTS of volatility with individual stocks gaping up and down everyday. This market has now been categorized as a “Kangaroo” market which is quite appropriate right now. Lastly you ca’t go wrong with emerging technology right now.
Urban One (UONE) – MASSIVE run up this week as I was basically the main focus of my trading. This like all stocks that go up too fast will definitely see a pull back in the weeks to come. Keep an eye out for this golden nugget.
Fear Index (TVIX) – This should be a mainstay on everyone’s radar right now. It’s violent price swings make for amazing day trading opportunities. Quick, easy, and predictable.
Norwegian Cruise Lines (NCLH) – They went ahead and announced cancellations for the remainder of their 2020 planned trips. This was a big blow to them, although they still remained in a tight $4 range all week. It was easy to buy the bottoms and sell the tops this week and nothing really pushed it higher. I still look for it to be short in the near term.
Target (TGT) – With good news out for retail, $TGT was able to capitalize with a minor rise in the stock price this week. Nothing big and still stuck in a range much like $WMT.
IQIYI (IQ) – The”Netflix” of China stock experienced a modest 40% increase this week amid renewed outbreaks in China. I was able to get a piece of it this week and am looking for one more pop before an eventual sell of into obscurity once the hype and volume dies down!
