🍨 Daily Scoop: Last week’s lightning-round In
By Mon, Nov 25, 2019
Hello Scoopers,
We are back with another lightning-round edition of The Daily Scoop. Here are the most important events that shaped the movements of the stock market:
- We started last week learning about the possibility of even higher tariffs. According to President Trump, the U.S. may not roll back the tariffs and it may even pile one more. (Read More)
- Mid-week, all three indices started to reverse course when an anonymous White House official broke the trade deal silence. Apparently, there is a disagreement over where to meet and sign the trade deal, and that’s what’s delaying things. (Read More).
- On Thursday, the list of things that can impact the fate of a possible trade deal between the U.S. and China just got longer. House and Senate passed The Hong Kong Human Rights and Democracy Act, and it was passed to President Trump to approve it. China, of course, doesn’t believe Hong Kong should retain its autonomy. And, this new Act is in direct contradiction to the country’s desire to gain control over Hong Kong. Inevitably, the signing of the Act will impact the fate of the trade deal. (Read More)
- Finally, a small upward movement came back to the market on Friday. Once again, the lack of any news and positive quarterly earnings helped the market finish in the green.
Beyond the overall market, it looks like there is light emerging at the end of the tunnel in the marijuana sector. Or, it could be that we just see things? More information is available in the “Water Cooler” section. Don’t forget to scroll down to read about what happened in the stock market last week.
MARKETS
- U.S. markets: All three indices finished Friday higher than where they started it. Scroll to the “Overall Market” section to learn more.
- Cryptocurrency: Bitcoin’s price dropped sharply, from near $9,000 to barely touching $7,000 per coin in a span of a week or so. Even mid-afternoon on Friday, you could have scooped a few coins less than $7,000 a coin. We looked around, dug here and there to find a reason for it, and there was no luck. People selling for some unknown reason, and technical analysis enforcing itself is the most likely explanation for the decline.
SPONSOR
New Strategy from the #1 Options Trader on the Planet!
Learn how you can begin to leverage this strategy to radically boost your profit potential…
Do you have a 65% win/loss ratio?
If you answered no, then this webinar is for you. Learn from the Master of Volatility how to find and prosper from Volatility using options.
SHOUT-OUT
You guys … thank you … Read this section while imagining the editorial team giggling and blushing around the table …
Shout out to James P., who took the time to write an email and tell us that he enjoys reading The Daily Scoop, especially the witty Water Cooler sections. Thanks, man!
Also, Larry B., thank you for your feedback. We are glad that you find all sections of The Daily Scoops great! You rock!
To you, all other readers of The Daily Scoop, thank you and keep reading. Also, send us your questions, feedback, and requests. We read all of our emails. Our email address is members@tradestocks.com. Or, simply reply back to this email.
OVERALL MARKET
No trade deal, no all-time high.
What happened on Friday?
The week before last, we had new all-time highs with the market melting upward. The main reason for the market’s record-high levels was all the positive earnings reports. Moving to last week, the stock market reversed and finished in the red. Things really got disappointing on Thursday as investors started to lose confidence in the possibility of reaching any sort of a trade deal in the coming days or weeks.
WATER COOLER
Is that light at the end of the tunnel?
So, what happened?
If you own any cannabis stocks, you must have gotten near a heart attack every other day or so, in the last six months. Take the Alternative Harvest fund (Ticker: MJ). It’s an exchange-traded basket of marijuana stocks that is widely known as an indicator of where the sector is going. MJ has lost almost half of its value in the last six months.
About the Author
The authors of this Scoop are the editorial team at Stock Card, led by Hoda Mehr. Hoda Mehr is CEO and Co-founder of Stock Card and the host of Renegade Investors podcast. She runs a community of 40,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism, and storytelling to all aspects of her work. Before starting Stock Card, Hoda worked as a strategy and insights lead at technology companies including Symantec, Aimia and Sony. Create a free account to do your stock market research easily and mistake-free: Stock Card Stock Card
