9/12/2020 Stock Market Outlook & Review

Last Week In The Market

Last week had a lot of interesting earnings reports, and a bit of an unwinding of the NASDAQ & S&P 500. This was overdue, as the NASDAQ had far outpaced the S&P based on vaccine optimism, and people looking to trade tech as they deemed it the best work-from-home market option. I didn’t make too many trades, but did pick up some PTON calls, as well as WKHS calls. Some of the WKHS calls I am carrying over the weekend, although I sold many of them last week.

I also sold some CYDY after 45%+ gains, and rolled the profits into AGNC, whose 12.67% Dividend Yield is paid out monthly, adding a nice 1% of my principle back to my portfolio each month. I also hold PSEC which is a similar type of company, but recently began diversifying by holding both.

As the summer has been a bit nuts between losing a close friend (and avid reader of my site, he used to text on Sunday nights asking when posts were coming out if one wasn’t up yet) in July & some trips taken recently, I have not been updating the site as often as I normally would. With that said, a couple of weeks ago I picked up DHT for the quick Dividend Play as they were paying out $0.48/share, it was a quick hold for 8%. Depending on what their next announced dividend is I may do it again as well.

What I’m Watching This Week

Well the Patriots of course…

We’ve got some interesting earnings calls coming up that may give us more color into the true shape of the economy this week. That will pair perfectly with the US Industrial Production numbers (Tuesday), Retail numbers (Wednesday), Business Inventories (Wednesday), NAHB Housing Market Index (Wednesday), & FOMC Economic Projections & Fed’s Rate Decision (Wednesday).

Thursday we will get a look into Jobless claims & employment figures, Housing Starts & Permits data, before Friday we hear about the Michigan Consumer Sentiment numbers & accompanying Inflation Expectations.

This has the potential to throw a little more volatility our way, especially when you look at the current 1 year NASDAQ chart, and see that the current level has intercepted the 50 Day Moving-Average.

NASDAQ Level Intercepting Its 50 Day Moving-Average

This to me shows that we may have a little more volatility coming our way in the near future. This would be healthy for markets, and also be appealing for some new stock entry points.

Final Thought – My CNBC Fast Money Appearance Last Week

Last week I was on CNBC’s Fast Money, with my post-Covid haircut & handlebar mustache, had to share it here!