Rabu, 07 Oktober 2020

The Market Dumped... Kenny Loved it

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Good Morning, Bullpen

Usually when a massive plummet follows a tweet, we're talking about a baby bird learning to fly. But yesterday it was President Trump announcing on Twitter that he would put a halt to stimulus talks until after the election which seemingly led to a drop in the market late in the trading day.

As one apt Bullpen member put it:

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It was crazy.

But do you know who loved it? … Kenny Glick

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Why?

Because not only does Kenny love shorting stocks that break below the 1-minute VWAP and the multi-day VWAP like the QQQ did (pictured above).

But he also knows that in this market, shorting is short-lived. And he made another winning trade on the dead-cat bounce.

This market is really volatile and can be scary at times. But fear not, Bullpen members are making winning trades every day.

How?

By learning from expert traders, pooling their knowledge, and encouraging each other...all in the Bullpen.

Come join the team.

See you in the Bullpen at 8:20 am EST.

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8:20-8:30 AM:
Wake Up Call with Ben Sturgill

8:20-9:00 AM:
Morning Movers with Hitha Herzog

9:00-9:30 AM
In The Zone with Jeff Williams

9:30-11:30 AM
Live Trading with Kenny Glick

11:30-12:30 PM
Precious Metals Session with Nick Black

12:30-1:30 PM
Training Replay with Ben Sturgill

2:00-3:00 PM
Boardroom Unboxing with Chris Graebe

3:00-4:00 PM
Power Hour with Kenny Glick

*All times are Eastern.

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  • CLSK - Shares are sliding ~28% lower after the company priced a $40 million public offering at $9 per share compared to $12.48 prior close.

  • DKNG - A Bloomberg report came out suggesting the company priced a recently announced 32m shares offering at $52 per share vs $56.78 prior close. Shares are down over 4% pre-market.

  • AAL, DAL, UAL, SAVE, JBLU - Airline stocks, which sold off in the prior session on news of stimulus postponement are rebounding 4-8% pre-market on President Trump's tweet calling for a $25B airline bailout.

  • LEVI - Company announced a surprise profit of $0.08 per share vs $(0.22) expected. Company also guided a 14-15% Q4 revenue decline projection vs 19.6% decline expected by analysts. Stock is up 11% pre-market.
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Before Market Opens:
RPM International (RPM) - Consensus EPS $1.201, Revs $1.493B
Lamb Weston Holdings (LW) - Consensus EPS $0.313, Revs $867.333M


After Market Closes:
EXFO Inc (EXFO) - Consensus EPS $0.06, Revs $65.54M
Saratoga Investment (SAR) - Consensus EPS $0.465, Revs $12.90M
Resources Connection Inc (RGP) - Consensus EPS $0.063, Revs $150.667M

See you soon in the Bullpen,

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Hitha

Also - if you want to see additional programming - we're listening… and we're looking to evolve the room with our amazing family of Raging Bull readers.

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