Superstock Investor
Morning Briefing

Wednesday, July 22, 2020

Morning Matters:

Weekly Timing Chart Of The S&P 500

We are updating our look at the S&P 500 via our favorite chart of SPY through Tuesday's close.

The Weekly Displaced Moving Average (DMA) Channel (Yellow Band) sees the current price above the channel. As such, bias is positive with a breakout above the channel. The last change was at the end of April.

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Second, the Erlanger Volume Swing (EVS) is at 20.57 from 10.25. Above 0 is good and below 0 is bad. The current action is positive.

Third, the Erlanger Crossover Spread (EC) Spread is now negative at 22.52 from -0.01.

Last,the Erlanger Trend Direction (ETD) remains in an uptrend.

class="article">So what is an investor to do here? We would recommend selective buys.

Positioning in our Morning Matters Portfolio off this chart and several other indicators moved to 100% cash on February 28th (see Flash Alert #446). We have started adding new buys and are 33% invested.

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Market Matters:

Stocks Futures Are Lower By -10 On The S&P 500

IPOs Priced: None of note.

Secondaries Priced: HTLD OPCH KNSA  of note.

Notes Priced of note:  None of note.

Common Stock filings: CASI HTLD of note.

Mixed Shelf Offerings: UBER of note.

Convertible Offering Files: TREE of note.

Senior Notes Filed None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

RBT +1.78, ISRG +0.59, AIR +0.55, NAVI +0.50, PNFP +0.44, TER +0.30, NBHC +0.30, TXN +0.27, IBKR +0.26, SUM +0.25, AMTD +0.24, WRB +0.20, FULT +0.14, USNA +0.13, HCSG +0.05, CNI +0.02, UCBI +0.02, FMBI +0.01, SNAP +0.01 of note.

Flat: REXR

Misses:

HWC (1.64), COF (0.57), WTFC (0.37), UAL (0.06), CSL (0.03), AGR (0.02) of note.

Hourly Action This Past Week: Updated 7/20 Close

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News After The Close:

In a Coronavirus Task Force Press Conference, the president noted that the virus may get worse before better, to wear a mask and for younger people to stay out of bars.

Raises Guidance Raised: TXN

Raises Dividend: SJM

Stock Split Announcement: 

Stock Buyback: WSBF

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. Futures were down, up, down, new low and now rebounding.

S&P 500 -3    Dow Jones Industrial Average -55  NASDAQ +32   Russell 2000 -5.  Fair values are mixed.  Asia mixed and Europe lower. VIX is at 28.13 from 25.36 yesterday morning.

Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $139.64 from $139.36 with yields at 0.589% from 0.602%.

Positive Sectors On Tuesday: Energy, Financial and Consumer Cyclical of note.

Negative Sectors On Tuesday: Technology, Healthcare and Communication Services of note.

One Month Winners: Materials, Consumer Cyclical and Technology of note.

Three Month Winners: Consumer Cyclical, Technology and Materials of note.

Six Month Winners:  Technology,Consumer Cyclical and Healthcare of note.

Twelve Month Winners: Technology, Healthcare, Consumer Cyclical and Communication Services of note.

Year to Date: Technology, Consumer Cyclical, Healthcare and Communication Services of note.

Gap Up: 

Gap Down: 

Upcoming Earnings Of Note (sorted by market cap, highest to lowest)

Today After The Close: MSFT TSLA CSX LVS KMI CMG SU ALGN EFX DFS SUI VAR WHR  of note.

Thursday Before The Open: T DHR UNP BX APD KMB AEP DOW TRV CTAS TWTR HSY STM FCX LUV CTXS WST  of note.

Earnings This Morning Of Note

Beat:

HCA +3.56, BIIB +2.25, TMO +1.00, MKTX +0.73, TDY +0.43, SBSI +0.28, SLGN +0.21, DOV +0.21, CHKP +0.15, EVR +0.14, AVNT +0.12, IQV +0.12, NDAQ +0.10, ABB +0.09, NTRS +0.08, FCFS +0.08, KEY +0.07, NRZ +0.05 of note.

Flat:

Missed:

CADE (0.61), RCI (0.13), CSTM (0.07), BKR (0.05) of note.

Still to Report: APH, BOKF, CP, KNX, LAD, NVR

Erlanger Research Advance/Decline Line Chart – We are no longer showing our proprietary advance/decline model as it is available on a subscription basis. Instead we are now showing a chart of the advance/decline. We hope you enjoy. Close 7/20. Stocks improved yesterday as the Russell 2000 was strong.

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Courtesy of Phil Erlanger Research Inc.

Rags & Mags: Highlighted Stories may be clicked through to the original story.

5 Things To Know To Start Your Day. (Bloomberg)

Coronavirus Update: United requires masks at airports and WHO sees African cases jumping (CNBC)

State Department order China to shut the Houston Consulate. Beijing vows to retaliate. (CNBC)

Yesterday saw Coronavirus deaths move above 1,000 which was the highest number since June. (CNN)

Mild cases of Covid-19 sees antibodies fade quicker than expected, was reported in the New England Journal of Medicine. (Bloomberg)

Republicans and Democrats divided on more stimulus. (The Washington Post)

Boeing (BA) 737 Max will not resume flights until next year. (WSJ)

Stock Index Tracking – The S&P 400 Mid Cap moved back above its 200 day moving average, watch this closely.

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Current through 7/21 close.

Bold means a change from prior day.

Algo/HFT Trading Levels:

The Erlanger Value Lines track the intraday range of resistance, pivot and support used by Algo/HFT Traders. Each day we show where we closed within the range. Updated through 7/21 close. EVL Ranges  continues to expand again with the recent action. The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App  store at APP(GO).

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Courtesy of Phil Erlanger Research, Inc.

Economic 

API Petroleum Institute Data was out  at 4:30 p.m. EDT yesterday and saw a big build in Crude Oil with a draw in gasoline.

Weekly MBA Mortgage Applications are out and rose 4.1% last week with refinance applications up 5% last week.

June Existing Home Sales are due out at 10:00 a.m. EDT and is expected to rise to 4.70 million from 3.91 million.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

20 Year Bond Auction at 1:00 p.m. EDT.

Geopolitical & Related

President Trump will participate in the 12:30 P.M. EDT swearing in of the next OMB Director. Then has lunch with the vice president at 12:45 P.M. EDT.  At 2:00 p.m. EDT will receive his intelligence briefing. Then at 3:15 will comment on Operation Legend which is combatting violence in American cities.

Meetings, Calls & Conferences

None of note.

Sellside Conferences: Sprott Natural Resources Symposium (7/22-7/25)

Industry Conferences:SEMICON West 2020 (7/20-7/23)

M&A

Upgrades & Downgrades – 

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Updated Through 8:45 a.m. EDT.


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Today's Superstock Investor Stock Scorecard:

Capital One Financial Corporation (COF)
by Superstock Investor


 

Capital One (COF) has struggled like many financials. The stock is lower this year as it was above $100 in February and is now at $62.87. Is there value here?

Company Information

Company: Capital One Financial Corporation
Sector: Diversified Financials
Industry: Consumer Finance
Market Cap:  $48,200,348,700

Targets

  Price %Gain  
Current Price $84.41    
Price Target $67.53 -25.0%  
Upper Bound $84.41 0.0%  
Lower Bound $57.40 -32.0%  

Stock data last updated 03/19/2019.

Data provided by QPI, Inc. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. QPI, Inc. is not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing this page, you agree not to redistribute the information found herein.

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