Stock Market - Here is a Market Recap for today Wednesday, October 28, 2020. Please enjoy! |
- Here is a Market Recap for today Wednesday, October 28, 2020. Please enjoy!
- Mastercard profit falls as pandemic hits spending volumes
- Europe Going under lockdown
- All etf portfolio
- Is The Halloween Massacre coming?
- I'm Calling It- Equity Crash Starting Today!
- Want to invest in AMD: buy AMD or Xilinx Stock?
- How To Run a Pyramid Scheme — But On The Stock Market
- Is another crash coming?
- NEW TO THIS
- CrptoNews BitcoinNews
- What is going on with Limelight Networks?
- BEP with DRIP
- Stocks in danger right now
- Advice.
- Wish.com stock. Anyone else interested?
- Tesla Autopilot 'a distant second' to GM's Super Cruise in hands-free test: Consumer Reports
- Rolls-Royce Shares
- So the markets crashing...what stocks should I buy
- Stock market newby
- Value stocks in the 'Green Energy' and 'Clean Water' sector.
- Just want to confirm that I can claim loss from this trade.
- Watchlist: 10/28 Mixed Close, High Risk
| Here is a Market Recap for today Wednesday, October 28, 2020. Please enjoy! Posted: 28 Oct 2020 01:15 PM PDT PsychoMarket Recap - Wednesday, October 28, 2020 Losses in the stock market accelerated today as market participants nervously eyed rising coronavirus case counts in the US and Europe, the presidential election a mere 6 days away, and developments out of Washington regarding stimulus. The Nasdaq (QQQ) slid 3.90$ down, the S&P 500 (SPY) fell 3.41%, and the Dow Jones (DIA) fell 3.35%. In the United States, there were 73,240 coronavirus cases reported yesterday, according to Johns Hopkins University. Alarmingly, the average number of daily new cases in the US rose 21% compared to the previous week. According to an article from CNN Health, the surge is hitting all parts of the country, with 40 states reporting at least a 10% increase in daily average cases, compared to last week. Dr. Ashish Jha, dean of Brown University School of Public Health, said, "Cases are rising quickly. If we go back about six, seven weeks ago to Labor Day, we [the United States] were at about 35,000 cases a day." U.S. hospitalizations related to COVID-19 have risen by at least 10% over the past week across 32 U.S. states and Washington, D.C., according to data compiled by Bloomberg. One good thing is the FDA approval of remdesivir, a therapeutic developed by Gildead (GILD) that was used to treat the president. In Europe, the average number of daily cases rose by 33% compared to last week, accounting for the greatest proportion of new cases in the world, according to data compiled from worldometer.info. France is the hardest hit country in Europe. On Tuesday, it reported more than 33,400 new cases and 523 coronavirus deaths in 24 hours, as well as a net increase of 74 admissions to intensive care, bringing the total to 2,918, over half the country's overall capacity of 5,800. French President Emmanuel Macron announced nationwide restrictions for the next four weeks. Germany joined France, imposing its own four-week nationwide lockwide, which includes curfew and restrictions on businesses like gyms, bars, restaurants, hairdressers etc. Yesterday, President Trump publicly acknowledged that an agreement on additional stimulus would not happen until after the election. While he signaled that his administration was still willing to negotiate, with the election a mere 6 days away, the chances of stimulus passing before then are practically zero. Highlights
"Live as if you were to die tomorrow. Learn as if you were to live forever" -Mahatma Gandhi [link] [comments]  | ||||||||||||||||||||
| Mastercard profit falls as pandemic hits spending volumes Posted: 28 Oct 2020 05:36 AM PDT https://ca.reuters.com/article/businessNews/idCAKBN27D1R1 (Reuters) - Mastercard Inc (MA.N) reported a 28% slump in quarterly profit on Wednesday as fewer people used its cards to shop, travel and pay bills during the COVID-19 pandemic, hitting transaction volumes for the payment processor. Mastercard reported a 36% drop in cross-border volume on a local currency basis in the quarter. Gross dollar volume, the dollar value of transactions processed, rose 1% to $1.6 trillion. Net income fell to $1.5 billion, or $1.51 per share, in the third quarter ended Sept. 30 from $2.1 billion, or $2.07 per share, a year earlier. Stock price have been under pressure from the last few days. It dropped from the sep high $367 to $295. But MA and V are still 2 payment stocks that can benefit from a long term perspective. The price around $300 is a good entry point. [link] [comments]  | ||||||||||||||||||||
| Posted: 28 Oct 2020 04:50 PM PDT Looks like Europe has decided to go into lockdown because they are out of control with Covid. US may follow suit and the stock market has much more to go down than these last two days. Tomorrow should be red if the media reads that as negative, and also I'd the job unemployment rate is worse than expected. Thoughts? [link] [comments]  | ||||||||||||||||||||
| Posted: 28 Oct 2020 06:40 PM PDT VTI- %50, VGT-15%, ARKK-10%, ICLN-10%, XLV-10%, VPU-5%. Waiting for a big dip to buy 20k worth of these ETF. I'm considering no bonds since I'm in my 20s and looking for a lot of growth. I understand there is a little bit of overlap on some of the holdings and I'm ok with that. My goal is for mid to long term investing. What are your thoughts? Any input is greatly appreciated. Thanks! [link] [comments]  | ||||||||||||||||||||
| Is The Halloween Massacre coming? Posted: 28 Oct 2020 08:31 PM PDT From the Trends and Targets website about the DOW. Sorry, cannot cut and paste the chart ; "Monday last week was the anniversary of "Black Monday" in the US, a day in 1987 when the Dow Jones managed to mislay over 25% of its value in a single session. We even wrote an article about it, deciding not to publish as it read like panic clickbait. Some analysts had pointed out the markets were in a similar position, ready for a sharp drop. Needless to say, markets WERE NOT in such a state but following reversals this week, we're substantially less confident calamity isn't far away. When we reviewed matters prior to the 23rd anniversary of "Black Monday", the DOW was trading around 28,700 points and we calculated in US index needed reverse below 26,500 before we'd risk concerns for the future. Alas, on Wednesday 28th, the DOW managed to bottom at 26,497 points and so far, we're not seeing great evidence of a recoil in horror from the horrid reversal potential which just triggered (by only 3 points, it must be said). The immediate situation is quite dangerous, weakness now below 26,497 risking entering a cycle to an initial 24,300 points. While this sounds dramatic, our secondary and hopeful bottom calculation comes in at 20,700 points. The secondary "bottom" number has a pretty unpleasant implication, taking the index into a zone where a hopefully ultimate wipe-out allows for an eventual 17,270 points. As the visuals confirm, this would entirely undo all the Dow Jones gains during the current Trump presidency! It's perhaps not the ideal image to portray during a US Presidential shambles. If this has all been a dreadful aberration, due to Covid-19 fears once again making themselves known worldwide, early signals of this being an over-reaction shall come if the US index manages exceed 26,830 points as this calculates with the potential of a fairly tame sounding 27,035 points. Achieving a rebound at this level will be the first tickbox hinting bottom is "in". If bettered, our secondary calculation works out at 27,250 points and allows a deep breath. Above such a point, we shall tend relax and run the numbers again. It's almost Halloween. Perhaps the market is just giving the world a bit of a fright… Or should we anticipate "Halloween Market Massacre" headlines?" [link] [comments]  | ||||||||||||||||||||
| I'm Calling It- Equity Crash Starting Today! Posted: 28 Oct 2020 07:04 AM PDT These are my reasons.
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| Want to invest in AMD: buy AMD or Xilinx Stock? Posted: 28 Oct 2020 12:08 PM PDT Hi I would like to invest in AMD. Now they reveal the acquisition of Xilinx and I'm in doubt if I should buy AMD stocks or Xilinx Stocks. I read that Xilinx investors will get 1.7234 AMD shares for each Xilinx stock they own. That values Xilinx at about $143 a share, 25% more than the closing price on Monday and 35% above the price before news of a possible deal was reported earlier in October. [link] [comments]  | ||||||||||||||||||||
| How To Run a Pyramid Scheme — But On The Stock Market Posted: 28 Oct 2020 11:48 AM PDT Source: https://archive.is/VfGKf#selection-249.0-249.75 Members of Blair management, together with the broker groups ("The Groups"), took steps to increase the prices of Blair stocks in the early aftermarket (after-market meaning post IPO) for those stocks. Before the deals went effective, there were trading agreements ("The Agreements") between members of management, including Alan Stahler ("Group Leader"), and the leader or leaders of the broker group for that particular deal ("Other Group Leaders"). Pursuant to the agreements, members of management arranged for their customers to sell, at prearranged prices, newly issued securities, which were thereafter retailed to customers of other Blair brokers ("The Brokers"), specifically members of the broker group for that deal, at higher prices. After the company completes the IPO, the Broker Groups buy and sell to each other at higher prices. This is also known as a "daisy chain" , and it happens more often than you might expect. Market manipulation schemes such as this are more likely to occur in the micro cap sector (stocks under $5.00) because it is easier to manipulate the price of these companies due to their lower trading volumes and PPS In addition to the activity in the early aftermarket, a primary purpose of the broker groups was to support the price of the securities during periods of illiquidity. Brokers in the groups were encouraged to be net buyers, for their customers, of the stocks they had agreed to support, and were actively discouraged from being net sellers of those stocks. For example, the brokers were frequently encouraged to "cross" trades — in other words, to place "sell" orders only if they had corresponding "buy" orders (Buy and Sell To Each Other). From time to time the broker groups caused the price of the illiquid stocks to move to artificial levels, planned in advance by engaging in programs of coordinated buying or selling on behalf of their customers. Alan Stahler knew it was very unlikely that the brokers who were soliciting their customers to trade the Blair securities would disclose such techniques for manipulating the prices of those securities (Broker Did Not Tell Customers About The Agreement). Blair gave its brokers incentives, in the form of higher-than-normal compensation, known as "specials," to help foster demand for and support the price of these securities. Below is a hypothetical example of how this would work. First, the traders buy $1 million worth of stock. They then buy and sell to each other, increasing the price by $10 with each sequence up the chain.
"By requiring their IPO investors to buy the stock in the aftermarket in return for IPO allocations (tie-in agreements or laddering), the underwriters created artificial excess demand for the IPOs, leading to distorted price levels in the immediate after-market. Since these manipulated prices cannot be sustained in the long run, the manipulated IPOs underperform significantly when fundamental values are finally reflected in prices. We show that these practices can explain a significant portion of the extremely high level of IPO underpricing during the Internet bubble period."........ "First, there is an investor affiliated with the underwriter (the ladderer)"...... This investor gets information from the underwriter about the future value of the stock,"..... ...."which can be either high or low. If the affiliated investor learns that the stock value in the future will be high, then the affiliated investor chooses to trade on this information by buying shares."........ "If the affiliated investor learns that the stock value in the future will be low, then he may still choose to buy shares in order to manipulate the stock via a laddering arrangement with the underwriter. ......... "The second group of investors is momentum investors. One can also think of them as being arbitrageurs, day-traders, sentiment investors, or information seekers (as in Aggarwal and Wu (2005)). The momentum investors can observe past prices and volume, but they have no access to fundamental information themselves. Instead, they try to infer from prices and volumes whether an affiliated (informed) investor is buying the stock, and whether they should be buying the stock as well, i.e., trading on momentum. Aside from having limited information, they are in all other respects completely rational. The third group of investors is a continuum of noise or uninformed traders. These traders do not update or condition on any information, and they provide liquidity to the market.' (October 1, 2003) "J.P. Morgan encouraged customers providing aftermarket interest to increase the prices they were willing to pay typically because other customers seeking allocations had provided aftermarket interest at higher prices. For example, a sales representative told a customer that their aftermarket price limit was "sort of out of the game" and there was "interest at much higher levels." In the Dyax IPO, a sales representative told the syndicate desk in an e-mail, "If the customer gets 50,000 IPO shares, he will buy 50,000 more (up to $16). If need be, I will tell him to increase his aftermarket price sensitivity to a higher number." Link https://web.archive.org/web/20191002221037/https://www.sec.gov/litigation/litreleases/lr18385.htm In the link below, you can study 310 laddering (tie-in agreement) cases from the dot-com bubble all hyperlined into one table. https://web.archive.org/web/20070207050832/http://www.iposecuritieslitigation.com/amended.php3 (2006) Hedge funds are sometimes forced to buy unprofitable IPO's under the condition that they will be given opportunities to purchase hotter, more profitable IPO's in the future according to the International Association of Small Broker Dealers and Advisors.. That was a long time ago, so maybe things have changed — but probably not. "The International Association of Small Broker-Dealers and Advisors,www.iasbda.com submits the following comments on the above referenced proposal to ban short sales for those participating in a secondary offering 5 days before the offering. We believe that the proposal fails to discuss the broader underlying issues behind the problem: potential violations of the locate and tie-in rules.Participation in a secondary offering is voluntary and therefore participants should not have to short to protect themselves. Arguably they should wait until the price drops in secondary trading,that is unless there is a tie- in to future hot issues. In other words, hedge funds may be required to buy secondaries in order to get allocations in future more profitable IPO trades. If so, logically therefore they want to short to protect against an investment they do not make voluntarily. When the positions are immediately closed upon distribution its hard to understand another more substantive purpose. The NYSE staff recently stated that prime brokers should not be ignoring the obvious in such transactions.. But there may be another group of more willing investors, the long lost long term investor(LTI). The LTI will make a long term decision to buy at the offering discount and intend to hold the security. He may however want temporary protection and should be allowed to short and purchase if he holds both positions for a 30-60 day period. The PIPES investor is one example but others may include long term devotees of the company.This holding period would allow small issuers to raise capital in a secondary and allow their investors some protection while holding for the long term.Additionally, the Commission should seriously review the possibility that tie-ins are occurring and determine whether that is good for the capital markets.The Commission can also enforce its current rules more efficiently by insisting that the broker who takes the short sale order insure that a locate is made prior to the offering.These violations are occurring because the brokers handling the short sales are ignoring the fact that the same client is simultaneously shorting. The staff of the NYSE recently warned that it will not allow its prime broker members to turn their heads in such circumstances. These violations therefore occur not because of the lack of clarity but rather because of the lack of enforcement of the locate and tie in rules.." https://archive.is/C5ysB#selection-39.3-48.0 SEC and FINRA related cases here, and here "The SEC alleges that a former day trader living in California, Steven Fishoff, schemed with two friends and his brother-in-law to pose as legitimate portfolio managers and induce investment bankers to bring them "over the wall" and share confidential information about an upcoming secondary offering*. After promising they wouldn't disclose the nonpublic information to others or trade an issuer's stock before an offering was announced, they violated the agreements and tipped each other about the upcoming offerings expected to inherently depress the price of the issuer's stock.* The tippees then shorted the stock before an offering was publicly announced and assured themselves profits on the short sales after the stock price dropped". The key take away seems to be that if you're an institutional investor, you are allowed to know about secondary offerings before everybody else. It's a big club.. ( Filed: 11/17/17) ---> "Similarly, Morgan Stanley's European Prime Brokerage Desk threatened its hedge fund clients with the loss of critical prime brokerage services if they were to "trade away their stock lending business to venues such as SL-x. Hedge funds including Renaissance Technologies, D.E. Shaw, Millennium Management, and SAC Capital were all threatened by Prime Broker Defendants with retaliation if they moved their stock lending business to AQS." Link ---->Private Deals [link] [comments]  | ||||||||||||||||||||
| Posted: 28 Oct 2020 07:25 AM PDT There hasn't been such a red day in months and all the negative news isn't helping. I was going to wait for after AAPL earnings report before selling, but don't know if to sell before. [link] [comments]  | ||||||||||||||||||||
| Posted: 28 Oct 2020 10:59 AM PDT As someone new to the stock market shenanigans what is a good place to start trying to make sense of all of this. Im trying to educate myself but it all seems very confusing. 😄 Thanks in advance for any help. [link] [comments]  | ||||||||||||||||||||
| Posted: 28 Oct 2020 04:10 PM PDT Market in last 24hrs BTCUSD saw an uptrend with price riding the upper band Price volatility was very high. The market moved ~5.92%, between $13.86k and $13.08k Today's Trend analysis BTCUSD expected to see a downtrend as the price after riding the upper band got a rejection from the upper band with Bollinger band expanding and lower highs observed Price at time of publishing: $13,435 BTC's market cap: $251 Billion Oscillator indicators are mostly neutral. RSI at 60 Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral Volume indicators observed a change from an increase in volume with a price increase to a decrease in volume with a price decline Price expected to see a downtrend as the price after riding the upper band got a rejection from the upper band with Bollinger band expanding and lower highs observed. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size decreasing in the positive region suggesting bullish bias. RSI at 60, in the neutral region with a downmove. CCI at around 80, in the neutral region with a pullback from overbought. Another interesting point to notice here is that the volume observed a change from an increase in volume with a price increase to a decrease in volume with a price decline indicating a shift from buyers to sellers. [link] [comments]  | ||||||||||||||||||||
| What is going on with Limelight Networks? Posted: 28 Oct 2020 05:53 AM PDT Limelight Networks has dropping steadily since their 30% dip on October 23. What is everyone's take on this? Limelight is normally a stable stock. I cannot seem to find any rationale for this. Perhaps with investors worried about the current state of the virus, elections and economy, they don't want to invest in an obsolete piece of technology that still goes into everything? Yet with a possible impending lockdown and still no end to the coronavirus for the foreseeable future, won't companies still use software like this for many more months to come? [link] [comments]  | ||||||||||||||||||||
| Posted: 28 Oct 2020 02:25 PM PDT I am looking at putting some money into Brookfield Renewable Partners (BEP) and when I selected to reinvest my dividends I was given a messaging saying this security isn't eligible to reinvest dividends. Can someone explain how or why it would say that? [link] [comments]  | ||||||||||||||||||||
| Posted: 28 Oct 2020 07:25 AM PDT With the pandemic getting worse, rising tensions with the election coming up, I feel like certain stocks might be in danger. I currently own CAKE, SYY and BUD. I feel like all 3 will suffer as they are hospitality related. Just wanted to get your guys thoughts. [link] [comments]  | ||||||||||||||||||||
| Posted: 28 Oct 2020 06:20 AM PDT I have been destroyed the past 2 months in the markets every play and everything bad that can happen has happened. With COVID spiking and election I'm curious if I should pull out of my contracts and wait till everything clears up even though I do feel like my positions "were" good. I'm worried the market could pull a similar March trend any body else worried or have any advice? [link] [comments]  | ||||||||||||||||||||
| Wish.com stock. Anyone else interested? Posted: 28 Oct 2020 02:35 PM PDT I'm not holding a cardboard sign saying the end is near, but damn if the EV market (70% of my holdings spread across 5 makers, KCAC and SBE) isn't taking a beating because the space is getting crowded. And speaking of space, SPCE is continuing to freefall on the eve of an earnings (???) announcement and next month's test flight. I'm losing on both fronts here. That said, I'm personally looking forward to Wish.com IPO which is still date TBD. I have a feeling that this "I get to stay at home and not subject myself to covid and spend a couple bucks on random stuff that won't last but who cares it was only a few bucks so let's buy more" company, even as it relies on Chinese goods, is a great opportunity for short and long term growth. Thoughts? [link] [comments]  | ||||||||||||||||||||
| Tesla Autopilot 'a distant second' to GM's Super Cruise in hands-free test: Consumer Reports Posted: 28 Oct 2020 10:35 AM PDT DETROIT (Reuters) - General Motors Co's (GM.N) Super Cruise once again edged Tesla's (TSLA.O) Autopilot in an evaluation of 17 vehicles equipped with active driving assistance systems (ADAS) by Consumer Reports, the testing organization said on Wednesday. A Tesla Model Y fitted with Autopilot finished "a distant second," the group said, to a Cadillac CT6 equipped with Super Cruise, which GM is rolling out to more than 20 vehicles - including its new Hummer electric pickup truck - over the next three years. Safety and insurance researchers have frequently warned of the risks of consumers overestimating ADAS systems' abilities, a misconception increased by some automakers calling their products Autopilot, ProPilot or Co-Pilot. In 2018, the Cadillac CT6 with Super Cruise scored higher than a Tesla Model 3 with Autopilot, in a Consumer Reports test of just four vehicles equipped with ADAS. In the latest test, conducted this summer on a track and on public roads, the Cadillac scored 69 points out of a possible 100, while the Tesla scored 57. A Lincoln Corsair equipped with Ford Motor Co's (F.N) Co-Pilot 360 system, finished third with 52. The critical difference in the Super Cruise system is a driver-facing infrared camera to make sure he or she is paying attention to the road and is ready to take over manual control when necessary, said Kelly Funkhouser, head of connected and automated vehicle testing at Consumer Reports. The group noted that Autopilot can shut off abruptly in some situations, while Super Cruise did a better job of notifying the driver when the system is disengaging. In recent European safety testing, a Tesla Model 3 with Autopilot placed sixth out of 10 systems, getting high marks for performance and ability to respond to emergencies, but falling short on its ability to maintain a driver's focus on the road. https://www.reuters.com/article/us-autos-selfdriving-safety-idUSKBN27D1B7 [link] [comments]  | ||||||||||||||||||||
| Posted: 28 Oct 2020 06:41 AM PDT Anyone have shares in Rolls-Royce with HL and can tell me what's going on? Have they automatically given me the 10-3 shares by reducing the price of the original shares? I can't understand what's happened. [link] [comments]  | ||||||||||||||||||||
| So the markets crashing...what stocks should I buy Posted: 28 Oct 2020 05:42 PM PDT I don't get why everyone is freaking out. I'm planning on buying and just holding on so anyone have any advice on stocks to stock up on haha. I just started investing cause everything was a low buy So far I have, DIS, AMD MICROSOFT, NIO, SE, ARKK, BA, APPL, SQ, TSLA, I'm thinking of getting BABA, WYNN and Amazon next but wanted to know if anyone had any thoughts on what to get [link] [comments]  | ||||||||||||||||||||
| Posted: 28 Oct 2020 09:59 AM PDT Hi all! I invest 10 dollars into Apple today. I'm going to go out to buy some books about the stock market is "stock market for dummies" a good start? I know nothing about them 😂 let me know ! [link] [comments]  | ||||||||||||||||||||
| Value stocks in the 'Green Energy' and 'Clean Water' sector. Posted: 28 Oct 2020 09:32 AM PDT | ||||||||||||||||||||
| Just want to confirm that I can claim loss from this trade. Posted: 28 Oct 2020 08:06 AM PDT So I know I did incur wash sale in this transaction, but according to wash sale rules I did hold stocks longer than 31 days that I bought after sale so just want second opinion that hopefully I can claim loss!
I know, I didn't think about this too much before doing it but just want a opinion that I should be okay to claim that 10k of loss Thanks [link] [comments]  | ||||||||||||||||||||
| Watchlist: 10/28 Mixed Close, High Risk Posted: 28 Oct 2020 03:44 AM PDT Market Notes:Yesterday we saw some strange trading. The Nasdaq closed well in the positive while the S&P 500 and the DOW closed in the red. Markets appear very choppy at the moment but the trend is still certainly down. The SPY had been trading in a down-trending channel and has fallen through the bottom of that channel in the premarket. Futures are pointing towards a bloody open. Down more than 1% at writing. Risk is high as the election draws closer. I've only a taken two trades this week. I could be on the sidelines again today. You can't lose what you don't risk. Watchlist:TANH is a low float, support at $2.75 PBI has resistance at $7.67 PLTR watching for a setup above $11 [link] [comments]  |
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