Unraveling the dow gained 131 and s p inched up but tech, yes, the tech heavy nasdaq declined. 60 . I say get used to this this kind of volatility is now here to stay i think september is the month this whole new investors who believe that stocks only go up, i think they get a rude awakening. Sure, long term stocks do go higher they have. They tend to do so but not long run, were also dead short term, when they go down, they go down hard. Which is why you need some cash on the sidelines cash king to treat these pull backs as buying opportunities and not be afraid. With that in mind, whats the game plan for next week . Housing is among the strongest groups thanks to low mortgage rates. Thats how lenar could rally 40 . I dont want to hear this gain is fake because the Federal Reserve is propping up the economy. When you take that money to the bank, they dont care. In our reports on money and after the close and unfortunately, i think the easy money here is made even though i think its a
Two in santa clara, who are household contacts of other coronavirus patients. The county has nine total cases. There is a second case in Sonoma County. San mateo has reported its first presumptive positive case. Thats pending confirmation from the centers for Disease Control. We have Live Team Coverage on the coronavirus outbreak and its impact to the bay area. Abc7 reporter luz pena is checking out the rush on supplies in San Francisco. Big, uwe begin with Lauren Martinez in the north bay where authorities just held a news conference. Lauren . The Sonoma County resident recently returned from a cruise ship that travelled from San Francisco to mexico. Now theyve been in the county for the past ten days. Right now theyre being treated at a local hospital. Now this case is unrelated to the diamond princess cruise ship that weve recently reported on. Now officials just briefed us on the latest. They say this is the second case of covid19 in Sonoma County. A hospital here is taking care of
Records and commodities enjoying their best weeks in five months. Nejra is official. The conservative party reserved a majority. Boris johnsons victory will allow him to carry out his promised to get brexit done. Aside from the parliamentary majority, it gives him free reign to take britain out of the union in january after four years of gridlock. The hope for an end made the pound jumped the most since 2017, highest level since may 2018 against the dollar, and the strongest rate against the euro since after the 2016 brexit referendum. Apart from it, its also worth noting Jeremy Corbyn said he would not leave the party in another general election and the lib dems leader has lost her seat in scotland. Taking a look at how assets reacted, you can see the pound jumped over 2 overnight. Us are ever to guests. Welcome both are our two guests. Welcome both. I think the pound could push higher. I think 1. 36 could be within isch, sterling around1. 82 in the cards. Brexit, with the outcome tha
Palatine losing 9 today. Dominos is down 3. 3 . Is that the one where the guy ate like 40 pieces in 30 days . Joe that is the other one. Romaine lets dive deeper into the action. Mike the vix has clearly shot up a little bit below 12 before thanksgiving. Today, up to about 16. Any time it has risen this year, it has been sort of corresponding trade tensions ratcheting up. What is interesting is that moves in the fed have often echoed by risk reversals in the korean won. Volatility between puts and calls on that currency. This week is different in that the risk reversals have not really errored the move higher. You can see, the white is the vix. They risk reversals are the ones not really moving in lockstep. This was pointed out by a volatility specialist his interpretation is basically that this suggests that the pivot is increasingly moving to the u. S. Side of the trade war. Abigail we are just two days into the month of december on a trading basis and we are already looking at two d
Its now been 53 days since the president announced the phase one deal with china was agreed and just waiting to be inked thats 53 days and counting. Joining us for the full first hour of the show, Wealth Management ceo josh, did i pronounce it correctly nailed it todayly rsi, people toss around these terms, overbought, oversold they use them qualitatively. The market went up a lot its overbought. Theres a technical definition to things like being overbought. By any stretch of any way you want to look at it, we were overbought on something called rsi. S p 500 we hit 75, the most overbought weve been technically since january of 2018 and we know what happened after that a very swift 17 selloff. So its not shocking that you have big down 400point day in the dow. The big takeaway for me, to answer your question, is the biggest mistake you can make is go to these extremes of bullishness, bearishness, based on each days action today is the mirror image of yesterday, total reverse tomorrow co