February 18, 2021

Feb 18, 2021Trade Ideas

Markets are pulling back today.

Not only did we get a weak Walmart forecast, jobs data was disappointing.

“Stocks are sliding across the board with high-multiple growth names getting hit the hardest thanks to the unrelenting rise in yields,” Adam Crisafulli, founder of Vital Knowledge said, as quoted by CNBC. “Earnings were underwhelming too, with Walmart’s EPS miss and big spending guidance unnerving investors.”

Meanwhile, jobless claims totaled 861,000 last week – the highest level in a month, and well above estimates for 773,000. Worse, a recent jump in bond yields, and rising inflation concerns are weighing heavy, too. Markets are also technically stretched.

While I hate doing this, let’s stay on the sidelines with this alert. Let’s wait to see where the markets want to head next. The last thing we want to do is issue an idea for the sake of issuing an idea. That’s a great way to lose money.

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