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Morning Coffee: SPOT has room to go, Bitcoin ETF could go to CBOE


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Stocks and Securities

The S&P 500 ended its four-session losing streak on Tuesday with a gain of 0.6{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}. Similarly, the Nasdaq and Dow finished the trading session up  0.7{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} and 0.5{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}, respectively. The major averages quickly extended modest opening gains, followed with trading sideways for majority of the later half of the trading session.

Some may attributed Tuesday’s market rebound with the rebound in the Turkish lira. For those unaware, the Turkish lira had dropped more than 25{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} in the past few trading sessions. The Turkish lira finally bounced 8{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} on Tuesday against the USD.

This morning, Stocks are poised to open higher today with the The S&P 500 up 18 or 0.64{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}, the Nasdaq up 51 points or +0.65{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}, the Russell 2000 is up 17 or 1.03{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} and the Dow Industrial average up 112 points or 0.45{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}.

Wednesday (Aug 15)

  • Morning: LXFT M MSGN PFGC
  • Afternoon: BGG CACI CSCO NTAP SPTN

 

Dow Industrial AverageS&P 500Nasdaq 100Russell 2000

 

 

 

 

 

 

 

 

 

 

 

On the oil front, U.S. West Texas Intermediate (WTI) and international benchmark Brent crude oil futures went on a wild ride last week before closing lower. At one point last week, the U.S. futures contract was down about 2.40 percent before clawing back nearly half of that loss.

Crude oil WTI - Oil markets and oil pricesCrude oil Brent - oil markets and oil prices

 

 

 

 

 

 

This morning, October WTI  is down $0.84 or 1.25{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} at $66.20,  and October Brent futures down $0.77 or1.06{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} at $71.63. Bullish investors are holding out hope that the Iranian sanctions have not been fully priced into Brent, leaving room for a significant run-up in prices after November 1 when the full effect of the sanctions begin to take place.

Our other favourites still continue to be Anadarko Petroleum (APC) and,  Occidental Petroleum (OXY), along with Marathon (MRO), BP (BP), and ConocoPhillips (COP).

 

What are the best stocks to buy in this market?

 

The remaining of this post is for our members only.
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Stocks on the Radar

If you have not have the chance to look at our new segment – ETF ALPHA please take the time to do so. There we have highlighted potential trades from 16 different ETFs. There are some great ETFs to buy in this week’s post. If you are unsure about the benefits of trading ETFs then please read our post here.

We hate to brag but we nailed our ETFs plays for last week. Our hot streak continued last week. It would be an understatement to call last week’s ending nothing short of a blood bath. However, we still provided our readers with  notables such as UGAZ (+20{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}) and TMF (+5{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}).

 

 

Author avatar

Dr. Tiam Feridooni

Written by: Dr. Tiam Feridooni MD, PhD, BSc Dr. Feridooni, graduated from Dalhousie Medical School in May, 2018. Prior to enrolling in medical school, he completed his Bachelor of Science with Honours in 2010 in Biochemistry. He then obtained his PhD at Dalhousie University in Pharmacology in 2014, with a focus around regenerative medicine and stem cell transplantation. Dr. Feridooni has been published numerous high impact journals and has also co-authored a few books.

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