MaR Dec 02 2020

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Market Report for Dec 02 2020

Trading without rules is like time travelling without a destination

Trade Zones:
SLGN

Market Trend:
Up

Market YTD:
Nasdaq Composite +37.7% YTD
S&P 500 +13.4% YTD
Russell 2000 +10.1% YTD
Dow Jones Industrial Average +4.5% YTD

Market Volume:
NYSE Vol: 1.1 bln (A)
Nasdaq Vol: 6.4 bln (A)

New Positions:
None

Portfolio % of Return:
Stocks: +1400.25
FX & Comms: -5.6

PORT Dec 02 2020

Comments:
That’s two consecutive days of heavy volume and the latter saw the S&P 500 and Nasdaq Composite close at fresh new highs. The Dow Jones Industrial Average and Russell 2000 also enjoyed a good day, following November which was the best month since 1987 for the Dow and best-ever month for small-caps.

SPCE is reaching levels that were seen way back in February of this year.

CRM has agreed to buy WORK. Each WORK share will be exchanged for $26.79 in cash and 0.0776 CRM shares. As of Tuesday’s close, CRM was $241.35.

241.35 x 0.0776 = $18.73

$18.73 + $26.79 = $45.52

So the deal for WORK investors will be slightly better than Tuesday’s closing price for WORK which was $43.84

This was one of our heaviest positions which we trimmed accordingly last week at $38 after the news of CRM.

Let’s go trade!