Stocks Are Heading Toward The Light At The End Of The Tunnel
Michael Kramer | Aug 30, 2019 01:55AM ET
h3 U..S Markets/h3
- S&P 500 Futures +27.25
- U.S. 10-Year 1.49%
- Oil $56.16
- VIX 18.21
- U.S. Dollar Index 98.26
When a trade goes wrong, and the market gives you a chance to get out, you take it. You get out as fast as you can.
If I were President Trump, and China is openly saying they want to make a deal, you take it. Figure it out, and get it done. Even if it’s not a great deal on paper, it can be spun however you want it. This has dragged on long enough, and everyone is tired of hearing about.
Once that is behind you, run to congress and do a $2 trillion infrastructure bill and finance it with 30-year debt. Take advantage of these record low rates.
That is what I would do, but then again, I’m not the President, and probably never will be.
S&P 500 (SPY (NYSE:SPY))
The good news is that the S&P 500 future are rising above 2,900 and now moving towards 2,935 once again. It moves us closer to the edge of the forest.
VIX
The VIX is heading lower today, dropping to around 18.5 and heading quickly to 17.50
Russell (IWM)
The IWM, a proxy for the Russell, is breaking a downtrend heading towards $151.
Get The News You Want
Apple (NASDAQ:AAPL)
Apple (NASDAQ:AAPL) is heading back towards resistance at $209.50 and probably back towards $213
AMD (AMD)
AMD is also breaking a downtrend and is heading towards $32.70.
Tesla (NASDAQ:TSLA)
Tesla (NASDAQ:TSLA) is rising towards the upper end of the channel around $223.
AT&T (T)
AT&T is rising today, and I think the stock is heading to $36.20. AT&T: The Trend Is Your Friend
Silver (SLV)
Man, those options traders nailed the SLV trade. It’s up past my target of $17.25. I first noted heavy options buying in the SLV on August 12 Betting That Silver Continues To Rise.
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