MaR Dec 04 2020

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Market Report for Dec 04 2020

Buying when others are selling and to sell when others are buying requires a lot of fortitude but pays the greatest of dividends

Market Trend:
Up

Market YTD:
Nasdaq Composite +37.9% YTD
S&P 500 +13.5% YTD
Russell 2000 +10.8% YTD
Dow Jones Industrial Average +5.0% YTD

Market Volume:
NYSE Vol: 980 mln (A)
Nasdaq Vol: 5.1 bln (A)

New Positions:
SNOW @297.88

Portfolio % of Return:
Stocks: +1460.51
FX & Comms: -5.6

PORT Dec 04 2020

Comments:
The major averages gave up some of their gains late in the session on disappointing COVID vaccine news from Pfizer that it is aiming to distribute only half of what was originally planned due to supply chain issues. Prior to that, the S&P 500 was at ATHs.

We bought more SNOW during the amateur hour on Thursday. In fact, it was about a minute later as we could not enter the position, probably due to demand at that stage. The prior day was a Doji and so it was a point of entry, even if price had fallen further.

Today is NFP so there is nothing to do other than relax and watch the Dumb Money show.

Happy prekend.

Let’s go trade!