Tech Talk for Friday March 27th 2020

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Pre-opening Comments for Friday March 27th

U.S. equity index futures were lower this morning. S&P 500 futures were down 62 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for February Personal Income was an increase of 0.4% versus a gain of 0.6% in January. Actual was a gain of 0.6%. Consensus for February Personal Spending was an increase of 0.2% versus a gain of 0.2% in January. Actual was an increase of 0.2%.

Lululemon dropped $8.30 to $192.50 despite reporting higher than consensus fiscal fourth quarter earnings. However, the company did not offer forward guidance. Susquehanna lowered its target price from $310 to $240.

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KB Homes was unchanged at $19.08 after reporting higher than consensus first quarter earnings.

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Gap Stores (GPS $8.45) is expected to open lower halting its dividend.

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Hilton dropped $2.70 to $70.50 after suspending its dividend and share buyback program.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/03/26/stock-market-outlook-for-march-27-2020/

StockTwits released yesterday @EquityClock

Nil

 

Schachter Energy Report

Josef gave a timely update on the Canadian energy sector on BNNBloomberg’s Market Call Today on Tuesday. He followed with a report to subscribers on Wednesday with several key observations:

· The Canadian energy sector has suffered from “a double Black Swan event: COVID 19 and an oil price war”.

· “We are near the end of the waterfall washout

Accordingly, Josef issued Buy recommendations for traders on a series of eight special situations.

The Schachter Energy Report is available by paid subscription at www.SchachterEnergyReport.ca

 

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for March 26th 2020

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for March 26th 2020

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for March 26th 2020

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

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The Barometer added 2.00 to 3.21 yesterday. It remains deeply intermediate oversold and showing early signs of bottoming

 

TSX Momentum Barometer

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The Barometer gained another 1.74 to 7.39 yesterday. It remains deeply intermediate oversold and showing more signs of a recovery.

 

Disclaimer: Seasonality and technical ratings offered in this report and at

www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed

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13 Responses to “Tech Talk for Friday March 27th 2020”

  1. FishFat Says:

    These lyrics seem to strike a chord in these times of social isolation.
    https://www.youtube.com/watch?v=-STFyfsdoVA

  2. Rol Lew Says:

    cool! very cool!

  3. Ron/BC Says:

    Can’t help but notice that Dr.Bonnie Henry is a very attractive lady…….just saying………….

  4. Ana Says:

    #1. FishFat

    Nice! Really nice!

  5. Ana Says:

    $SPX Futures

    Sorry for the early warning by one trading day, futures started to fall at the closing on Thursday. Misread my indicators, there still was room to go up.

  6. Muntazir Says:

    JP/BC
    Your querry from yesterday. I copied & pasted

    Not sure if you saw it or already own the stocks discussed but I linked this 2 1/2 year old video 2 weeks ago. I agree with the originator over his common sense “Canadian Essentials” for long term core holds. I would add REIT CAR.UN to the essentials.
    https://www.youtube.com/watch?v=hQUUqsNqsu8
    You and others might also find this video which originated on Friday interesting for a low risk REIT trade or long term hold.
    https://www.youtube.com/watch?v=sFIZOhcokQ0

  7. Rol Lew Says:

    Dr Henderson = Eureka, Aha! moment……

    https://stockcharts.com/freecharts/candleglance.html?DXC.TO,DXG.TO,DXU.TO,DXF.TO,SDY,LVHD,SCHD,FLQD|D|0

    Most, 25% to 30% selloff, followed by 15% to 20% rebound, so it’s not “easy” to do, knowing this.

    If this group goes sideways from here, divvys will make you whole in 2 years, +/-, give or take. But they will go up, down , or sideways, during the next 2 years. Nobody knows.

    Just wondering if SDY “would have had” similar performance.

    https://stockcharts.com/h-sc/ui?s=SDY&p=D&yr=2&mn=0&dy=0&id=p17566353910

    current yield 2.78% . YTD return -26.3%

  8. Rol Lew Says:

    https://stockcharts.com/h-sc/ui?s=LBS.TO&p=D&yr=8&mn=0&dy=0&id=p5298206356c&listNum=1&a=640092266

    Yield = 29.3% . YTD – 8.00 to 4.01 = 50%
    But they will go up, down , or sideways, during the next 2 years. Nobody knows.

    https://finance.yahoo.com/news/brompton-funds-declare-distributions-195634598.html

  9. Roy Says:

    # 6 Muntaxir
    I went through that video.
    Just want to know why does he have
    2 railroads
    2 pipelines
    3 banks
    2/3 utilities?
    Do they not all trade about the same way?

  10. JP/BC Says:

    Re: #6 Thanks Muntazir.

  11. Bernie Says:

    Roy,

    Re: #9
    In his opinion those 10 have the greatest staying power of all Canadian dividend payers. They’re meant for long term growth and income not for trading.

  12. Bernie Says:

    Roy,

    Further to your query. I left a word out in my second sentence in #11. It should have read “They’re meant for long term growth and income holds not for trading”.

    I also didn’t directly answer your question as to why 2 to 3 companies in each sector. Yes, they may trade the same way in a mutual fund or ETF but each of the 10 serves a different part of the country and the globe. For an investor invested for the dividend safety is paramount. The more quality dividend growth companies in ones basket the greater the safety of the dividend. Why not own the best and disregard the rest? You don’t get this with a fund nor can you control what they hold. Yes there are several ETFs in Canada which hold many or all of these 10 but they also hold several duds which drag down the overall performance. Show me a low cost ETF which holds and mirrors my stock portfolio and I’ll gladly toss my stocks for the ETF. Hope this answers your question more clearly and directly. If not, give me a shout back.

  13. Roy Says:

    Hello Bernie
    Thanks for taking the time to explain all this to me. Much appreciated.
    Take care and stay safe everyone.

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