Posted July 19, 2021
By Alan Knuckman
A Treat to Kick Off The Week!
I’m back on another video update with Fox Business contributor Phil Flynn!
We talk about what to look for as this season's earnings reports roll in, our thoughts about some different commodity prices, a few stocks that are projected to continue to net margin growth, and much more!
you don’t want to miss it!
Click the image below to watch!
Keep it In the Money,
Trading Tip of the Day: More Summer Chop
The end of last week was another tough one for the markets.
It’s the same old story we’ve been seeing in the market this Summer... On Friday morning the major averages opened higher only to experience sell off and fade into the red as the day progressed.
Market leaders that had been holding strong were hit with some ugly selloffs. Semiconductors tumbled, with the once-bulletproof NVDA losing more than 4%. In fact, the VanEck Vectors Semiconductor ETF (SMH) looked like it might break out Wednesday morning. That move turned into a rout and a false breakout as it faded Thursday and Friday. Ugly!
Meanwhile, the rotation appears to be into safety trades. Utilities and consumer staples led the pack yesterday. We should watch this closely heading into the weekend.
However, Friday was expiration day for July options... So one could expect to see some more shenanigans before it was all said and done.
Hopefully we’ll see some more stable conditions as we kick off a new week!