Stock Pick: Palantir Technologies (PLTR)
Initiating coverage on Palantir Technologies (PLTR) 36.45 with a buy rating. The company is engaged in building software to assist in counterterrorism investigations and operations.
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Is the market on the way to the moon?
Wow, what a week of stock market gains! The S&P 500 was up 3.12%, the NASDAQ Comp was up an impressive 4.91%, and the Small Cap Russell was up almost 4%.
Don’t get excited its short covering
The NASDAQ and S&P 500 both posted gains of 1.16%. Meanwhile, the Small Cap Russell 2000 posted a small increase of .30%.
Don’t listen to the pundits and the week in review
All the indexes we wrote about took a beating. The NASDAQ was down 5.21%, the S&P 500 was down 3.6%, and the small-cap Russell 2000 was down 5.53%!
Institutions are in hibernation and you should do the same.
The action Wednesday was subdued at best. Both the S&P 500 and the NASDAQ posted tiny losses and the small cap index did the same.
This is the beginning of the correction I warned you …
The S&P 500, NASDAQ, and Small Cap Russell 2000 took an old-fashioned butt whipping today. Volume picked up from Friday on the S&P 500; the NASDAQ volume was about the same as Friday. And the Small Cap Russell 2000 just got beat up.
NVDA earnings and Labor Day
Nvidia posted earnings yesterday, and my thoughts proved true: this is a sell-on earnings quarter.
Nvidia earnings tomorrow, where do we go?
The S&P 500 and the NASDAQ have been limping higher over the past 2 weeks. The last decent up-volume day was about 2 weeks ago.
The market waits on Nvidia earnings
The market waited for the Federal Reserve to speak on Friday. The S&P 500 +1.05%, NASDAQ +1.08%, and Small Cap Russell 2000+ 3.19% in weekly gains, while the volume was subdued.
Rate Cut to Weakness
The recent 8-day rally has been impressive by the numbers. Today, the winning streak was snapped. But don't be fooled.