Dow: +299.66…
Nasdaq: +107.84… S&P: +33.43…
No one wanted to shoot first today, but then buy programs kicked in about 3:15 PM, so some shorts scrambled and the FOMO folks had to be involved.
I never thought I would see the day when algorithms have a fear of missing out.
The bank stress tests were released after the close, report here, but the bottom line was that banks still can’t buy back stock until at least the end of the third quarter and they have to cap their dividends. Banks are lower in aftermarket trading because no one likes to be told what to do. I don’t see any of this as “new” news though.
Tech remains bid it seems no matter what.
Two names that look interesting are BOX and FSLY. Yes the latter has gone parabolic but I can see 100—120 on this one. Nice little flag on BOX. Through 22 gets you 24.
Future clothes hanger PTON makes new highs. Crazy how people wake up at 5 AM to work out. I won’t even get up at 5 AM to pee. I will just lie there in pain.
There wont be a “Morning Look” tomorrow. Back at it later in the day.