My first taste of Wall Street came on October 19, 1987... That date might ring a bell.
Amid a 'Battleground' Market, You Need This Outlook
By Pete Carmasino, chief market strategist, Chaikin Analytics
My first taste of Wall Street came on October 19, 1987...
That date might ring a bell.
It was the day of the biggest market crash in 70 years. It's now known as "Black Monday."
I worked as an intern at a brokerage back then. And I'll never forget the chaotic scene...
Phones were ringing off the hook. People were running around yelling. I remember thinking, "Is this a job or a sport?"
It was exhilarating. But more importantly, it ignited a passion in me...
The next day, I went to my finance professor's office with my first-ever copy of the Wall Street Journal. We talked for hours.
He saw how serious I was. And I knew I had finance in my blood from that moment on.
Five years later, I began my Wall Street career as a municipal-bond salesman. The manager told our group of 75 people not to make friends on the first day. As he said...
The person next to you is your competition... I wouldn't make any friends. Most of you won't make it, anyway.
Sure enough, only two of us remained at the end of the month. And it helped reinforce a big lesson...
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Put simply, experiences like these forced me to look at every corner of the market. I realized that the market is more than just a basket of distinct parts. It's an interconnected web.
For example, think back to 2022. We endured a major market downturn.
I got ahead of that downturn. Specifically, I alerted folks that interest rates would rise – and that move wouldn't be good for stocks.
I used the iShares 20+ Year Treasury Bond Fund (TLT) as my proxy for the move in rates.
After all, bond prices and rates have an inverse relationship. And because I expected rising rates, bond prices had no choice but to move down to push rates higher.
That's just how it works.
TLT traded in the range of about $145 per share in the middle of that month. And as part of my research, I put a target of $97 per share on the exchange-traded fund.
After TLT got to that level, I issued another alert in October 2023...
Bond prices would still go even lower.
Specifically, I noted that TLT could hit between $75 and $80 per share.
TLT hit that target during the trading day on October 23, 2023.
Like my bond-sales group in 1992, many traders didn't make it through 2022. They learned the hard way that the market isn't a playground – it's a battleground.
My point of telling you this story is simple...
We're still in that same battleground. For example, many investors think that artificial intelligence ("AI") is easy money.
But huge volatility shows us that this is serious business. You need to be willing to look at every corner of the market.
And you need to be able to find the best opportunities.
After all my years in the markets, I'm proud to be working alongside market legend Marc Chaikin. And I love having a tool like the one-of-a-kind Power Gauge by my side.
By leveraging the Power Gauge's data, we can spot the best potential opportunities – in any market condition.
In fact, Marc recently identified an incredible setup in a corner of the market that most investors ignore. And in a special presentation, he's sharing his No. 1 stock strategy to take advantage of it.
Don't miss out on how to position yourself to take advantage of this setup. Get all the details from Marc right here.
Good investing,
Pete Carmasino
Market View
Major Indexes and Notable Sectors
# Hld: Bullish Neutral Bearish
Dow 30
-1.86%
7
18
5
S&P 500
-1.71%
71
304
123
Nasdaq
-2.08%
25
63
12
Small Caps
-2.88%
304
1103
497
Bonds
+1.21%
Consumer Staples
+1.17%
4
17
17
— According to the Chaikin Power Bar, Small Cap stocks and Large Cap stocks remain somewhat Bearish. Major indexes are mixed.
* * * *
Sector Tracker
Sector movement over the last 5 days
Staples
+1.95%
Utilities
+1.48%
Health Care
+1.13%
Energy
+0.95%
Real Estate
+0.4%
Industrials
-1.97%
Materials
-1.98%
Financial
-2.03%
Information Technology
-2.13%
Communication
-2.17%
Discretionary
-3.79%
* * * *
Industry Focus
Retail Services
20
45
15
Over the past 6 months, the Retail subsector (XRT) has underperformed the S&P 500 by -9.85%. However, its Power Bar ratio, which measures future potential, is Strong, with more Bullish than Bearish stocks. It is currently ranked #7 of 21 subsectors and has moved up 1 slot over the past week.
Top Stocks
ACI
Albertsons Companies
COST
Costco Wholesale Cor
ARKO
Arko Corp.
* * * *
Top Movers
Gainers
MRNA
+5.34%
KVUE
+4.15%
HSY
+4.07%
MDLZ
+4.02%
CAG
+3.82%
Losers
AKAM
-21.73%
GEV
-8.84%
ODFL
-8.54%
CEG
-8.07%
VST
-7.81%
* * * *
Earnings Report
Earnings Surprises
PTGX Protagonist Therapeutics, Inc.
Q4
$1.98
Beat by $1.73
ITCI Intra-Cellular Therapies, Inc.
Q4
$-0.16
Missed by $-0.05
HEES H&E Equipment Services, Inc.
Q4
$0.99
Beat by $0.21
* * * *
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This work is based on SEC filings, current events, interviews, corporate press releases, and what we've learned as financial journalists. It may contain errors, and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.
