Stocks Volatile Again With Shutdown in Sight

The Dow was last seen in positive territory

Dec 21, 2018 at 11:51 AM
facebook X logo linkedin


The Dow Jones Industrial Average (DJI) was last seen modestly higher -- getting help from a post-earnings bull gap for Nike (NKE) -- overcoming a brief turn lower as a potential government shutdown looms. Traders are also reacting to a round of lackluster economic data, with the personal consumption expenditure (PCE) index, a key measure of inflation for the Fed, rising a lower-than-expected 0.1% last month. This volatile price action just echoes what's been seen on Wall Street this month, with the Dow, S&P 500 Index (SPX), and Nasdaq Composite (IXIC) all headed for stiff weekly losses.

Continue reading for more on today's market, including:

  • History says to drop this retail stock right now.
  • Skepticism ramps up on Facebook stock with a fresh "sell" rating.
  • Plus, GE options trader positions for earnings; the drug stock at the bottom of the SPX; and CarMax catches options bears off guard.

midday market stats december 21

General Electric Company (NYSE:GE) is seeing unusual options volume today, with more than 472,000 puts traded so far -- 10 times what's typically seen at this point, and volume pacing in the 100th annual percentile. Trade-Alert pegs a possible bearish roll from the January 2019 6-strike puts to the weekly 2/1 6-strike puts, the latter of which encompass GE earnings, due the morning of Thursday, Jan. 31. GE stock is down 1.5% at $7.33, but is still set for a weekly win after being upgraded again on Wednesday.

Perrigo Company PLC (NYSE:PRGO) is at the bottom of the S&P 500 today, after the Dublin-based over-the-counter pharmaceutical firm was ordered to pay the Irish government $1.9 billion in back taxes. PRGO stock is down 24.1% to trade at $39.73, earlier hitting a nearly nine-year low of $39.52.

perrigo daily chart dec 21

CarMax, Inc (NYSE:KMX) is near the top of the SPX today, boosted by the used car retailer's third-quarter earnings beat. After trading lower ahead of the bell, KMX stock was last seen up 5.9% at $60.09 -- catching options bears off guard.
 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI