https://www.howestreet.com/2024/07/is-it-time-to-take-defensive-investment-positions-mark-leibovit/
NEXT PODCAST THURSDAY EVENING
You can relish or cry on corporate earnings depending on your favorite, but the real story remains WAR. Don't lose sight of this despite the media is manipulated and controlled. The media and investors are blindfolded - I think intentionally. We long defense, gold, oil.
Also, the market has already made its move as investors salivate over a September rate cut. Bull trap!
Israeli Prime Minister Benjamin Netanyahu said Wednesday that Israel has dealt “crushing blows” to Hezbollah and Hamas, referring to a strike that killed a senior Hezbollah official in Beirut late Tuesday. Still, he stopped short of claiming responsibility for the killing of Hamas leader Ismail Haniyeh in Tehran. Haniyeh, the head of Hamas’s political wing, was assassinated early Wednesday. Hamas and Iran both blamed Israel and vowed to retaliate. It was not immediately clear how Haniyeh was killed, but the attacks risk plunging the region further into crisis.
Key updates
Khamenei says avenging Haniyeh’s death is Iran’s ‘duty’
Haniyeh’s killing threatens negotiations, raises specter of wider war
U.S. was not warned of Haniyeh killing, Blinken says
U.S. Stocks Rally On Upbeat Earnings News, Rate Cut Optimism
After moving sharply higher early in the session, stocks continued to turn in a strong performance throughout the trading day on Wednesday. The major averages all moved to the upside after ending Tuesday's trading mixed, with the tech-heavy Nasdaq posting a particularly strong gain.
The Nasdaq soared 451.98 points or 2.6 percent to 17,599.40, more than offsetting the 1.3 percent slump seen during yesterday's session. The S&P 500 also jumped 85.86 points or 1.6 percent to 5,522.30, while the Dow rose 99.46 points or 0.2 percent to 40,842.79.
The early rally on Wall Street partly reflected a positive reaction to some of the latest corporate earnings news from companies like Advanced Micro Devices (AMD).
Shares of AMD surged by 4.4 percent after the chipmaker reported second quarter results that exceeded analyst estimates on both the top and bottom lines.
Coffee giant Starbucks (SBUX) also saw significant strength after reporting fiscal third quarter earnings in line with estimates and maintaining its full-year guidance.
Shares of DuPont (DD) also moved sharply higher after the chemical giant reported better than expected second quarter results.
On the other hand, shares of Microsoft (MSFT) moved to the downside after the tech giant reported quarterly earnings and revenue that beat expectations but disappointing cloud computing results.
Stocks continued to see significant strength in afternoon trading following the Federal Reserve's monetary policy announcement.
While the Fed left interest rates unchanged, as widely expected, minor changes to the accompanying statement may hint at future rate cuts.
Notably, the Fed said it is attentive to the risks to "both sides of its dual mandate" after previously saying it was "highly attentive to inflation risks."
Fed Chair Jerome Powell said during his post-meeting press conference that a rate cut in September would be "on the table" if economic data continues on its current bath.
The central bank's next monetary policy meeting is scheduled for September 17-18, when investors widely expected the Fed to begin lowering interest rates.
According to CME Group's FedWatch Tool, there is currently a 93.5 percent chance the Fed will lower rates by a quarter point in September.
Semiconductor stocks showed a substantial rebound on the heels of the upbeat AMD earnings, with the Philadelphia Semiconductor Index soaring by 7.0 percent after ending the previous session at its lowest closing level in over two months.
Considerable strength was also visible among computer hardware stocks, as reflected by the 3.4 percent surge by the NYSE Arca Computer Hardware Index.
Gold stocks also rallied amid a sharp increase by the price of the precious metal, driving the NYSE Arca Gold Bugs Index up by 2.8 percent.
Telecom ,networking and oil service stocks are also saw significant strength, while some weakness emerged among airline and banking stocks.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region moved sharply higher during trading on Wednesday. Japan's Nikkei 225 Index shot up by 1.5 percent, while China's Shanghai Composite Index surged by 2.1 percent.
STAMFORD, Conn., July 31, 2024 (GLOBE NEWSWIRE) -- Grayscale Investments®, the world’s largest crypto asset manager*, offering more than 20 crypto investment products, today announced that Grayscale Bitcoin Mini Trust (Ticker: BTC) has begun trading on NYSE Arca as of 4:00 AM ET today as a spot Bitcoin ETP.
Grayscale Bitcoin Mini Trust (“BTC”) is not a fund registered under the Investment Company Act of 1940 and is not subject to regulation under the Investment Company Act of 1940, unlike most mutual funds or ETFs. Investing involves significant risk, including possible loss of principal. The Trust may not be suitable for all investors.
BTC launched today as the lowest fee** spot Bitcoin ETP through the innovative mechanics of initial seeding by distributing 10% of GBTC’s underlying Bitcoin to BTC. As such, BTC commences trading with a NAV per share of $5.84, a diversified investor base, and $1.7B AUM as of July 30, 2024. BTC’s distribution event is colloquially known as a “spin-off,” and is a corporate action that is not expected to be a taxable event for GBTC nor any beneficial owner of GBTC shares as of the previously announced Record Date of July 30, 2024. Investors are encouraged to consult a tax advisor for related tax guidance.
OPPORTUNITY TO ACCESS MARK LEIBOVIT'S PROPRIETARY VOLUME REVERSAL INDICATOR - THIS IS THE ONLY PLACE TO DO IT!
https://www.metastock.com/prod
Yes, that's a cartoon of me. Louis Rukeyser had us dressed up in 'elf' costumes on the screen broadcast each week. I've dated myself. That occurred for me between 1988-1996. Lou didn't like any bearish comments, so myself and other elves got dumped in 1996.
WHO am I?
MARK LEIBOVIT is Chief Market Strategist for LEIBOVIT VR NEWSLETTERS a/k/a VRTrader.Com. His technical expertise is in overall market timing and stock selection based upon his proprietary VOLUME REVERSAL (TM) methodology and Annual Forecast Model.
Mark's extensive media television profile includes seven years as a consultant ‘Elf’ on “Louis Rukeyser’s Wall Street Week” television program, and over thirty years as a Market Monitor guest for PBS “The Nightly Business Report”. He also has appeared on Fox Business News, CNBC, BNN (Canada), and Bloomberg, and has been interviewed in Barrons, Business Week, Forbes and The Wall Street Journal and Michael Campbell's MoneyTalks.
In the January 2, 2020 edition of TIMER DIGEST MAGAZINE, Mark Leibovit was ranked the #1 U.S. Stock Market Timer and was previously ranked #1 Intermediate U.S. Market Timer for the ten year period December, 1997 to 2007.
He was a 'Market Maker' on the Chicago Board Options Exchange and the Midwest Options Exchange and then went on to work in the Research department of two Chicago based brokerage firms. Mr. Leibovit now publishes a series of newsletters at www.LeibovitVRNewsletters.com. He became a member of the Market Technicians Association in 1982.
Mr. Leibovit’s specialty is Volume Analysis and his proprietary Leibovit Volume Reversal Indicator is well known for forecasting accurate signals of trend direction and reversals in the equity, metals and futures markets. He has historical experience recognizing, bull and bear markets and signaling alerts prior to market crashes. His indicator is currently available on the Metastock platform.
His comprehensive study on Volume Analysis, The Trader’s Book of Volume published by McGraw-Hill is a definitive guide to volume trading. It is now also published in Chinese. Mark has appeared in speaking engagements and seminars in the U.S. and Canada.
On LFTV Maguire uses Comex price charts to show Fed's interventions at options expiration
In this week's edition of Kinesis Money's "Live from the Vault" program, London metals trader Andrew Maguire shows with Comex price charts how the Federal Reserve has been intervening to knock the gold price down in advance of futures option expiration dates.
Maguire adds that India is not only repatriating gold from the Bank of England but also trying to repatriate gold from the Federal Reserve Bank of New York. The latter move, Maguire says, may cause a big problem insofar as the New York Fed may no longer have the metal on hand and may have to go into the market to get gold for repaying India.
BRICS countries, Maguire says, are eager to acquire gold in anticipation of the launch this year of a gold-backed trading currency.
The program is 49 minutes long and can be viewed at YouTube here:
https://tinyurl.com/bdhaan2e
Good news against the liberal socialist communist media:
https://tinyurl.com/mtxj3pcv
Another Bull Trap in progress!
DANGER DANGER WILL ROBINSON
WHO HAS BEEN CORRECTLY PREDICTING BLACK SWAN TYPE EVENTS?
CAN YOU COUNT THEM ALL? HOW MANY ARE AHEAD? YOU CAN ADD KAMALA HARRIS AS ANOTHER ONE!
La Niña can impact weather around the world. For example, in 2024, NOAA projected a 60% chance that La Niña would develop between June and August, which could increase the chances of a dangerous Atlantic hurricane season.
https://tinyurl.com/msfk2je9
WATCH THE FULL ROSWELL MOVIE PRODUCED IN THE 1990s. The film producer of the film (an old friend) makes a cameo appearance in the film.
https://www.disclose.tv/roswel
Why am I highlighting the Michael Savage book? Unfortunately, it tells the story of the mental illness of the Democratic party and followers of their insane beliefs of our society, our laws and communist underpinnings.
I USE JOEL WALLACH'S SUPPLEMENTS EVERY DAY. MAY AGAIN PROVIDE A LINK TO PURCHASE THEM HERE
COME ON, DAD. IT'S TIME TO EAT
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