Not Again. Wells Fargo $WFC agreed to pay $35mm in penalties to settle allegations it overcharged almost 11k advisory accounts. The overcharges at 2 units totaled over $26.8mm! I think most of us who used to love the Stagecoach are now driving an EV…

The technicals on $DXCM look awful Herb Greenberg, so we'll press your Red Flag Alert with that 🚨.

The Saddest Place in the World. OK, maybe not, but resort-goers and stock-holders aren’t having the same feeling these days about Disney $DIS. Its stock closed at its lowest level in almost 9 years as investors turn bearish, per Reuters. Lots of turnaround initiatives, cost…

Too Fat to Tie Shoes.  Traders are worried about the US budget deficit, per Bloomberg.  The CBO is projecting a massive fiscal shortfall, such that rates could go even higher (which then pressures governments who have to pay the higher interest).    The deficit more than doubled…

Premature Victory Lap.  Oh, Mike Wilson…we know you’re a bear.  And your temporary bullish reversal this summer didn’t last long.  But isn’t your call for @Morganstan a bit short-term reactive?  During low volume vacation time?  Calling the rally “exhausted” because Nvidia’s…

No Soup for You. China 🇨🇳 announced a stimulative policy to ease home purchase rules, and at first their stock market rose on the news, followed by a ho-hum, sell-the-news move back down.  Even in HK, traders didn’t get excited about a report from Retuters on how China plans to…

Crypto Trading Ranges | August 25, 2023
#Bitcoin #Ethereum

Trading Ranges | August 25, 2023
$SPY / $QQQ / $IWM

The Bullseye AI Day Trade Ideas 🤓 are generated from Longbow’s proprietary A.I. algorithms running on 2,000+ stock tickers throughout the trading day in order to identify highly probable, tactical Buy / Sell opportunities that can be monetized within 1-5 trading days.

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Sleeves Off His Vest.  Powell’s Fed is “prepared to raise rates if appropriate” and inflation “remains too high” and “intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective” comments alongside his sporty…

Yesterday.  Thanks to UBS for a chart that summed up yesterday’s price action here in the US.  Traders are finally realizing that rates aren’t going down soon.  They may pause, but the impact of higher-for-longer will sting.  But CTAs are still holding onto their narrative.  The…

🫣😳 $NVDA

Christmas in September. That’s what you should expect, from the rollout of new pumpkin drinks by Starbucks $SBUX to lure you into their stores, to earlier merchandise broadly-speaking. Reuters warns that a dampened outlook by US retailers is decreasing expectations for holiday…

Just Sandwiches.  P/E firn Roark beat out other suitors to buy Subway for over $9bn.  Has Roark been to a Subway before?  Just sayin’….my kids make better sandwiches for less.

You’re Welcome.  It looks like driverless car tech has some more work to do…

Ouch.  Bloomberg is out with a story on KKR’s latest bankruptcy and zeroes in on low recoveries for leveraged loan providers this cycle.  The end of an easy-money era, tighter credit, over leverage, a softer economy…the list goes on to explain the challenging environment.…

Tomorrow’s Tales.  We’ve got Powell on deck to share his tea leaves tomorrow. Bullard is out with hawkish rhetoric, citing a pickup in summer economic activity as a reason to delay a pause in rates by the Fed.  We’ll be listening to the Jackson Hole tales and will give you the…