Superstock Investor
Morning Briefing

Friday, September 11, 2020

Morning Matters:

Morning Matters Portfolio Update

For 2020, the S&P 500 is now up by 3.22% from 7.85% two weeks ago for the year while the Russell 2000 is now down by -9.62% from -6.23%. The Morning Matters Portfolio had pulled back to -6.57% for the year before we went to cash as the S&P 500 drew down to -30.75%. It is now at -5.15% from -5.73% two weeks ago so we have gained back 1.42% since we got invested. Expect more gains ahead.

The portfolio is now 33% invested long, 0% short and 67% in cash, net long 0%. Run as 12 stock portfolio it is up 506.90% through the end of 2019 and is now at 501.74% from 501.17%.

For a listing of all trades both open and closed simply look under Portfolio on the left hand side of the website.

Dividends are not included in our results unless there is a special one time payment.

We positioned in late December of 2018 that, "Markets are setting up for an epic buying opportunity last seen in 2015 or 2011". That has proven to be correct but the easy money is in.

A good start to 2020 moved into weakness due to coronavirus and then followed by a rebound not seen since 1930 and now we are potentially getting ready to move lower again.

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Market Matters:

Stocks Futures Are Higher By +20 On The S&P 500

Morning Thought: Today is the 19th anniversary of 9/11. The world has changed since then in a myriad of ways and will continue to change this decade as terrorism will not fade. Here a nice summary of how 9/11 has changed in the pandemic. (AP)

Covid-19 Update With Latest Data From Thursday 

Total Cases 6,366,986 from 6,329,405

Recovered: 2,387,479

Deaths 182,779

Cases reported 37,581 from 30,983

Tests 614,042 from 584,412

Deaths 1,170 from 1,089

Hospitalizations 32,419 from 32,263

source COVID tracking project

Capital Raises

IPOs Filed:

Secondaries Priced: MNRL TRIL ITCI VRM QTNT AZEK FOUR TXG of note.

Notes Priced of note: None of note.

Common Stock filings: MNRL of note.

Mixed Shelf Offerings: PFSW note.

Convertible Offering Files: None of note.

Senior Notes Filed: None of note.

Earnings After The Close:

Beats:

ZUMZ +0.69 PTON +0.15 PLAY +0.14 CHWY +0.08 ORCL +0.07 of note.

Misses:

None of note.

Flat: DSGX

Hourly Action – More hours are positive than negative despite the corrective action the last week.

News After The Close:

GW Pharmaceutical (GWPH) sees positive developments on Phase III Trials on MS.

Valmont (VMI) lifts share repurchase restrictions.

NYSE Short Interest fell by -0.26% while shorts increased NASDAQ bets by 3.31%.

Booking (BKNG) sees workforce reduction by 10%.

Chipotle (CMG) sees digital sales doubling this year to $2.4 billion.

Raises Guidance: CHWY

Lowers Guidance:

Dividend Raise: VICI  AMT 

Stock Repurchase Announcement: CLBK

10-K Delays:

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.

S&P 500 +11  Dow Jones Industrial Average +60  NASDAQ +36  Russell 2000 +8.35. Fair values are higher. Asia higher and Europemixed. VIX October futures are at 32.45 from 33.40 this morning. Current VIX is at 29.77 from 28.81.

Gold and silver lower with copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $139.38 from $139.30 with yields at 0.68% from 0.703%.

Positive Sectors On Thursday:  None of note.

Negative Sectors On Thursday: Energy, Technology and Utilities of note.

One Month Winners: Industrials, Consumer Cyclical and Consumer Defensive of note.

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

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

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

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

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

Today After The Close: None of note.

Monday Morning: None of note.

Gap Up:

LYRA +14%, KODK +12%, PTON +12%, DQ +11%, ZUMZ +9%, RM +7%, ORCL +4%, IMUX +4%, DKNG +4%

Gap Down:

AMRS -19%, MNRL -8%, QTNT -7%

Earnings This Morning Of Note

Beat:

None of note.

Missed:

 of note.

Erlanger Research Advance/Decline Line Chart – The back and forth for positive and negative breadth continues. Yesterday saw early strength fade into weakness. Update 9/9 as we await our data to be updated with new short interest.

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 9/10 close. The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App store at APP(GO) then find Erlanger Research and setup a trial.

Courtesy of Phil Erlanger Research Inc.

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

Stocks Making The Biggest Moves. (CNBC)

5 Things To Know Ahead of Today’s Trading. (CNBC)

Corona Virus Update: Israel heads for a second lockdown, London Heathrow sees traffic down -81.5%. (CNBC)

Democratic Presidential Candidate Joe Biden says will raise corporate tax rate to 28%. (CNN)

Biden also notes will follow Trump's China policy. (WSJ)

President Trump says no extension on TikTok. (Reuters)

Fires continue to move across West. (NYT)

500,000 are evacuated from Oregon. (AP)

Stock Index Trading

Current through 9/10 close. The Russell and S&P 400 Mid Cap moved back above their 50 day moving averages.

Bold means a change from prior day.

Economic

August CPI is due out at 8:30 a.m. EDT and is expected to fall to 0.3% from 0.6%.

The latest Treasury Budget update is due out at 2:00 p.m. EDT. Last month saw a drop of $200.3 billion.

Geopolitical & Related

President Trump will head to Shanksville, PA to pay respects to 9/11 victims this morning. At 3:00 p.m. EDT, the president will present the Medal of Honor award to Sergeant Thomas Payne at 3:00 p.m. EDT.

Investor Events & Conference Calls

CATB  (Webcast) NPTN (Conference Call)

Sellside Conferences: Morgan Stanley Industrials CEO Unplugged Conference (9/9-9/11) Credit Suisse Global Steel & Mining Conference (9/9-9/11) KBW Insurance Conference (9/11) UBS Covid-19 Vaccine Symposium (9/11)

Industry Conferences: Advanced Therapies Congress & Expo (9/8-9/11)

M&A

Upgrades & Downgrades For Friday 9/11 – 

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Today's Superstock Investor Stock Scorecard:

Amazon.com, Inc. (AMZN)
by Superstock Investor


 

Amazon (AMZN) has had quite the run. Any value here? Current price is $3176.12.

Company Information

Company: Amazon.com, Inc.
Sector: Retailing
Industry: Internet Retail
Market Cap:  $976,627,273,300

Targets

  Price %Gain  
Current Price $1,761.85    
Price Target $1,849.94 4.8%  
Upper Bound $2,312.43 31.3%  
Lower Bound $1,572.45 -10.8%  

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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