Welcum frens,
News: Rising calm brought the market up yesterday and now flat in pre market. I don’t think the market at large cares about the war anymore, it may never have at all. SPY is green now from the start of the war. No major events just a few normal fed speeches. The chip industry has been staying volatile with NVDA and INTC bouncing down and up, Russia does contribute some of the natural resources for chip production which is why things are moving around. Yesterday’s job numbers show unemployment is the lowest it’s been since 1969, definitely contributed to some of the optimism spike that we saw yesterday.
Daily Watchlist:
AMC and GME. These runs are dead, could be a few good points today to load up on puts to ride the retreat to pre run levels.
RTX and LMT. Lots of talk about giving Ukraine more and more equipment, we know the administration won’t give fighter jets (I can’t understand why, we’ve given them better weapons than that already). I think there’s a good chance we give more surface to air defense missiles which is the thing they need the most. The stinger and the javelin are the most talked about weapons to give them. The stinger is made by Raytheon (RTX). Of course giving Ukraine weapons doesn’t actually do anything for the producer of those weapons, UNLESS we replace that inventory by buying replacements.
SPY:
Made a big run yesterday off a hopium surge, this hopium is justified mid term but we are still in the back end of this murky area. The market should stay immune to inflation news as long as nothing unexpected comes up, we all know it’s high and how JPow plans to fight it and unless things change we’ve seen what we’ll see on that subject. We shouldn’t have any problems today, spy is in a comfortable spot. Watch for 455-456 resistance for breaks or peaks. Should be a mildly green day, no major fears right now.
Alright I just saw a short bus drive by out the window so this should be a very good day
