Market Recap

Dow: +1.39…
Nasdaq: -82.34… S&P: -16.66…

The S&P 500 declined 0.4% on Monday amid some slippage in the last 45 minutes of action, which erased a 0.5% gain for the index. The Nasdaq fell 0.6% after being up 1.0% intraday. The Dow (unch) closed flat, while the Russell 2000 outperformed with a 0.5% gain.

For most of the day, there wasn’t a lot of trading conviction as the major indices, and most S&P 500 sectors, wavered between gains and losses.

January was a sucky month for the market, maybe we can have a turnaround in February.

The corporate buyback “bid” will be huge in February.  Goldman Sachs trading desk estimates more than $5.5B worth of daily demand during the open window which closed again on March 14. That should help.

DWAC and CFVI had great days. The former gave it up. Always manage risk by raising stops and taking some off on the way up, especially on SPAC names.

Did crypto bottom? Bitcoin and Ethereum acting better. On my radar. Still guilty until proven innocent. Watching MARA and ETHE again.


TECK – looks like it’s setting up again.

See you in the morning.


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