Market Recap

Dow: +14.88…
Nasdaq: +51.13… S&P: +13.13…

Another annoying day as most have tended to be this summer. Many stocks got clipped good in the morning and spend a good amount of the day recovering. It’s very hard to make ground when you are constantly churning any gains.

Market breadth wasn’t great again but the Nazzy defended and bounced off the 21-day moving average again.

Crypto came down again as the group continues to see some profit-taking.

I added FCX as a new long. I like the metals and mining sector XME, (not gold/silver) but the CLF, NUE, AA, CLF type names.  The stock looks a lot like CLF and X looked before they broke out.

WISH reported earnings after the close and missed.  Here is the outlook from management. Not sure I want to hang around until 2022 for a turnaround. I can make that lost money back in other trades and it hurts to watch it every day. Guidance wasn’t inspiring. Let you know what I’m doing tomorrow. Very disappointed and I’m sorry for the recommendation.

P&L here

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