Six Down Days in a Row

For the first time in a long time, the stock market is getting kicked around this morning. The losses aren’t so bad but we’re on track for the sixth decline in a row. At one point, Tesla was down $95 per share, which is a loss of more than 13%. The stock has rallied strongly off today’s low.

Bitcoin has also seen a very volatile day. It’s currently down a little over 9%, but that’s not unusual for Bitcoin. It was over $58,000 two days ago. Today’s low was $45,000.

The market is not pleased with Trex’s earnings report, even though the deck company beat expectations. I think this is an instance where traders are out for blood and they’re willing to attack anything. However, the #1 performing stock in the S&P 100 today is Disney (DIS).

Copper has been on fire, or what it does when it gets really hot. It broke above $9,000 per metric ton for the first time in nine years. This is an interesting market to watch because it’s often aligned well with the overall economy. That’s why it’s nicknamed Dr. Copper, for its predictive abilities.

Posted by on February 23rd, 2021 at 12:01 pm


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