Friday, June 18, 2021
Morning Matters Portfolio Update
For 2021, the S&P 500 is now up by 12.40% for the year the Russell 2000 is now up by 15.83%. The Morning Matters Portfolio had pulled back to -1.22% down -.04% for the week.
Last year before the great correction we went to cash as the S&P 500 drew down to -30.75%. The portfolio finished at -9.08% for 2020. Only our fourth down year in the thirteen years of recommendations. We expect a big bounce this year.
The portfolio is now 75% invested long, 0% short and 25% in cash, net long 0%. Run as 12 stock portfolio it is up 506.90% through the end of 2019 and is now at 497.74% since inception. This year the portfolio is down by -0.08%.
Here are the current holdings.
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.
Stocks Futures On The S&P 500 -14
Breaking News: Federal Reserve St. Louis President James Bullard hawkish talk on CNBC trashes stocks in last hour.
Seriously? – General Electric (GE) to have a 1-8 reverse stock split. Aren’t reverse stock split reversed for penny stocks??? How about growing earnings instead?
Earnings Of Note After The Close:
Beats: ADBE +0.21, SWBI +0.63
Misses: MANU (13.31)
IPOs Priced or News: Century Therapeutics (IPSC) priced at $20 a share at high end of range of $18 to $20. Cyteir Therapeutics (CYT) priced at $18 at high end of range $16 to $18. Ambrx Biopharma (AMAM) priced at $18 with mid range at $17 to $19. ATAI Life Sciences (ATAI) priced at $15. Codex DNA (DNAY) priced at $16 which is high end of $14 to $16 range. Tremor (TRMR) priced at $19.
New SPACs launched: VG Acquisition (VGAC) to merge with 23 And Me and the symbol becomes ME.
Secondaries Priced: NMG of note.
Notes Priced of note: None of note.
Common Stock filings: ACRE 0f note.
Selling Shareholders of note: None of note.
Private Placement of Public Entity (PIPE):
Mixed Shelf Offerings: None of note.
Convertible Offering & Notes Filed: None of note.
Note Offerings Filed: None of note.
Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.
News After The Close:
Pilgrim’s Pride (PPC) buys meats and meals unit from Kerry Consumer Goods in UK and Ireland.
U.S. Steel (X) issues upside Q2 guidance.
Edison International (EIX) issued grid warning from 5-10 p.m. PDT.
SEC to close for Juneteenth Holiday.
Index Changes: Two Harbors (TWO) joins S&P 600 as Cardtronics (CATM), which is being bought by NCR, replaced as of 6/22.
Afterhours: STSA +16% TWO +5% PSN +3% and lower CVAC -49% NOVN -10% TRCH -5% AQN -4% NOG -4%.
Dividend Increases: SWBI MEI WPC
Higher Guidance: SWBI ADBE
Buyback Announcements: SWBI FOXA MT
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 – Dow Jones Industrial Average – NASDAQ – Russell 2000 -. Fair values are mixed. Asia mixed and Europe lower. VIX is at 19.50 from 19.03 in futures. VIX closed at 17.02 from 16.39.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is flat vs Euro, higher vs Pound and flat vs Yen. US 10 year Treasury price is at $132.19 from $131.70 with the yield at 1.56%. Bitcoin at $39230 up by $415 and +1.05%.
Thursday’s Action – 6/17 Close.
Positive Sectors On Thursday: Technology, Communication Services and Healthcare of note.
Negative Sectors On Thursday: Materials, Energy, Financials and Industrials of note.
One Month Winners: Technology, Real Estate and Communication Services of note.
Three Month Winners: Energy, Real Estate and Financials of note.
Six Month Winners: Energy, Financials, Materials and Communication Services of note.
Twelve Month Winners: Materials, Communication Services, Industrials, Financials and Technology of note.
Year to Date: Energy, Communication Services, Financials, Real Estate and Materials of note.
Stocks were mixed, Bonds rebounded, U.S. Dollar higher and Commodities lower across the board. Updated 6/17 Close.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: none of note.
Monday Before the Open: none of note.
Earnings This Morning Of Note:
Still to Report: none
Below is the list of insider buys from Tuesday morning and this morning sorted by day. The idea here is simple. Find stocks where insiders are buying and the shorts are “dumb short sellers”. Insider buying and dumb short selling exists in UHAL QSR EEFT but so far shorts are making money in all names. No data on VERO ITOS. Updated 6/16
Erlanger Research Advance/Decline Chart –Updated through 6/17 close. There is some weakness that is pretty obvious. Time to be concerned. Monday we will look at our Advance/Decline Model that has appeared here.
Gap Ups & Down In Early Pre-Market:
Gap up: CAI +45%, GERN +29%, APNC +18%, GEO +10%, HYFM +4%, SWBI +4%, ADBE +3%
Gap down: ATHA -30%, NMG -11%, ARVL -9%, ACRE -4%
Rags & Mags: Highlighted Stories may be clicked through to the original story. Repeated stories from prior days never listed, i.e. “rehashed news”.
Stocks making the biggest moves ADBE SWBI PPC (CNBC)
5 Things To Know Before Markets Open. (CNBC)
EU to lift travel restrictions for Americans. (NYT)
Iran to hold elections today with a hardline winner likely as all other contenders were barred from running. (CNN)
China lockdown of Guandong may impact more shipping damage. (CNN)
India still short on vaccines. (AP)
Michigan to open up completely on next Tuesday 6/22. Four states remain to open up completely. (NYT)
The New York Times (NYT) ends discussions to buy The Atlantic. (The Information)
Boeing (BA) set for first flight of the largest set of the 737 Max.
Robinhood Snacks looks at Spotify (SPOT) and their Clubhouse rival. The future of reparations with Juneteenth signed into law.
Index Moving Averages: 6/16 Close – The Confidence Score is at 50%.
The President receives the President’s Daily Brief, Oval Office, 10:30 a.m. EST
The President delivers remarks on the COVID-19 response and the vaccination program, State Dining Room, 2:15 p.m. EST
The President departs The White House en route Wilmington, Delaware, 2:55 p.m. EST
The President arrives in Wilmington, Delaware, 3:50 p.m. EST
The Bank of Japan (BOJ) is out with its latest monetary policy decision
None of note.
Mitsubishi HC Capital to buy CAI International (CAI) for $56 a share.
Columbia Financial (CLBK) to buy Freehold Bank.
Sitel Group to buy Sykes Enterprises (SYKE) for $54 a share.
Meetings of Note:
Sellside Conferences: Guggenheim Biopharma Strategy Series (6/18) Bank of America Securities Conference (6/18)
Company Meetings: ISEE SWBI (Investor Day) BRC (Webcast)
Industry Meetings: BIO International Convention Digital Conference (6/14-18)
Upgrades & Downgrades:
Pilgrim's Pride Corporation (PPC)
by Superstock Investor
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