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The Clown Show: trade biotechs & more
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Futures modestly lower after Bitcoin's wild weekend rideWith slightly more than 3 Hours to go before the open, DOW Futures are currently pointing to an opening loss of 65.67 points; SP 500 Futures to a loss of 6.97 points and NAS COMP Futures to a loss of 8.66 points. Wild ride for Bitcoin over the weekend basically caused by Chinese Comments. It is now at 56,700.00, up 925.10 and way above the 50.000 level it plunged to on Saturday. Treasury Yields remained basically tame over the weekend and lower than recent prints. The 2 Year is now yielding 0.16%; the 5 Year has a yield of 0.81%' the 10 Year's yield is at 1.56% and the 30 Year Bond is now yielding 2.24%. The DAX is slightly lower; while the other Major European Markets are slightly higher. Shanghai is gaining 1.49%, The HSI is up 0.47%, but the Nikkei and Kospi are basically flat. Natural Gas is higher, WTI and Brent down. copper is popping 2.23%; palladium 2.14% and the other Major Metals are also in plus territory. The IWM is down 1.30 to 223.29; the QQQs are off 0.24 to 341.78; the SPY is dropping 0.81 to 416.63 and the VXX is up 0.07 but below 10.00 at 9.88. PTON is dropping 6.20 to 110.69 after a Safety Commission issues a warning about using Peloton Tread+. GME's CEO George Silverman is stepping down and the shares are gaining 10.00 to 164.69. CLOV is on the RobinHooders list of potential short squeezes and is adding another 1.24 to 10.07. More Red than Green on My Watch Lists with TSLA dropping 11.78 to 729.30 after a Fatal Texas Crash of a car that seems not to have had a driver. SQ is down 5.44 to 250.82, maybe as a result of the wild Bitcoin Ride. Good luck |
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