November 11, 2021

Markets:

Stock futures gained Thursday morning to recover some losses after a technology-led drop across the major equity indexes, with traders mulling signs that elevated inflation is still reverberating across the recovering economy. 

With no notable economic data due out on Thursday due to the Veterans Day holiday, investors have been left to continue responding to the latest batch of mixed economic data. And meanwhile, a couple of closely watched companies missed quarterly earnings estimates, though most S&P 500 companies have topped expectations throughout third-quarter earnings season to date. 

After market close on Wednesday, Dow-component Disney (DIS) reported disappointing sales and profits as Disney+ subscriber growth slowed more than expected. Beyond Meat (BYND) also offered a weak current-quarter revenue forecast, pointing to continued sluggishness in the plant-based meat alternative-maker's sales trends. Affirm (AFRM), however, saw shares soar in the premarket session, with the buy-now-pay-later financial technology platform topping quarterly sales expectations and unveiling an expanded payments partnership with Amazon. 

Portfolio:

We enter the new trading session holding positions in F and ITRM.  Yesterday, was a great example, of not allowing "daily news / theme" to trump the overall trends we have pinpointed and continue to follow.  We did stop out of a few positions but we had built up enough profits running into yesterday that we are ok.    We will be adding today so please be ready!   Let's continue our great period here and end this year so strong!  Be ready today and let's have a great session!