D&D Note (5.3.2018) ~ Midday 400 Point Reversal and Elon Musk’s Weird Earnings Call ~
Today markets saw a huge midday reversal where the DOW was lower by almost 400 points breaking the 200 day moving average before then reversing and going slightly positive to close up by 5 points.
Elon Musk’s Tesla earnings call yesterday was perhaps channeling Tony Stark (who’s character in the Iron Man movies is patterned off Elon). On an analyst capital requirement question – Elon cut off the analyst and said “boring bonehead questions are not cool”. And later said “these questions are dry they are killing me”. He also said “if you can’t stand the volatility in our stock than don’t buy it”. The stock fell 5.55% today but closed above the long term support level of $280.
Michael Cohen’s phones were tapped and a call between him and the White House was caught in the wiretap.
Ruddy Giuliani confused everyone from the press to the white house on the comments made that Trump repaid Cohen for the 130k Stormy Daniels payment (via monthly retainer). This proposes a contradiction if Trump only found out about the payment in 2018 how could he have repaid it in 2016.
MedReleaf and Aurora stocks were halted in trading today over possible news that Aurora is looking to buy MedReleaf.
CannTrust rallied big today rising 7.35% on no apparent news but perhaps on takeover speculation due to the news Aurora is still looking to buy companies.
Semiconductors led the tech rally today and shares of NVDA rose 2.95% on the session.
Industrials got a bit of their mojo back with Boeing rising 2.04% on the day.
Financials were under pressure today with BAC falling -1.28%, JPM down -0.63%, and C lower by -0.07%.
D&D movers:
– CNTTF up 7.35%
– NVDA up 2.95%
– PYPL up 2.40%
– BA up 2.04%
– TSLA down -5.55%
– IMLFF down -1.86%
– BAC down -1.28%
– TCEHY down -1.18%
Indexes
– DOW up 0.02%
– NASDAQ down -0.18%
– S&P down -0.23%
Sector Movers:
– Materials up 0.34%
– Technology up 0.29%
– Industrials up 0.22%
– Health down -0.87%
– Financials down -0.85%
– Consumer Discretionary down -0.44%
Notes
– US 2-YR 2.48% (down -0.016)
– US 10-YR 2.948% (down -0.016)
– US 30-YR 3.124% (down -0.01)
Volatility
– VIX 16.41 (up 2.76%)
Crypto (1:00 PST)
– BTC $9,623.66
– ETH $758.32
– BCH $1,486.08
– LTC $159.29
Metals
– Gold $1,313.20 up 0.58%
– Silver $16.455 up 0.49%
– Copper $3.0935 up 0.81%
Energy
– Oil $68.49 up 0.82%
– Brent $73.73 up 0.50%
– Nat Gas $2.732 down -0.80%
D&D Investments 
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