Tesla is not a luxury but a means of enrichment
Everything is going according to plan. The main point of this plan is the daily updating of historical highs. If until yesterday the indices updated their records alternately, one, then another, then yesterday they were able to do it together and in chorus, updating all their historical highs in one fell swoop: both absolute and at the close of the market.
Although in the course of trading, it was still impossible to say with certainty that the indices in general, in principle, would be able to close in the green zone. They sailed through the whole trading session on the waves of the changeable mood of market participants and then dropped below zero, then surfaced again in a minor plus.
Only the end of the trading took place under the fairly confident dictation of the bulls, which allowed the indices to take new heights. In the industry context, everything also looked pretty good. Of the 11 sectors, only one – the communications services sector – closed in the red with an average loss of 0.59%. Moreover, this sale was somewhat unexpected and poorly explained.
At least, investors did not have any specific reasons for fright about these shares. So yesterday’s drawdown of these shares by 3 percent can still be considered a misunderstanding, which is unlikely to continue. The best sector, according to the results of yesterday, was the consumer sector of cyclical companies.
The main character here is still a Tesla stock quote today (TSLA, +8.49%). According to Tesla, the stock positive news is coming out day after day with enviable punctuality, and its quotes are climbing higher and higher up the sheer cliff. So, over the past 12 trading sessions, the company’s shares have already grown by almost 50%, which allowed Tesla to enter the club of trillionaires by capitalization confidently, and Elon Musk to bring his capital to $ 300 billion.
At the same time, it should note that Tesla drags all other motorists up with it. A very brisk move in recent weeks has been shown, for example, by Ford (F+5.09%), which, although slightly lagging behind Tesla in growth rates, still its quotes have soared over the past three days to levels that we last saw in 2011, that is, ten years ago.
Only General Motors (GM, +1.95%) has slowed down a bit in this automakers race so far. Of the individual companies, according to yesterday’s results, it is worth noting the shares of the aircraft giant Boeing (BA, +3.65%), which, apparently, have found the bottom and successfully pushed off from it. Let’s hope that the decline in quotations during the last week after the release of the uncertain quarterly reports on October 27 has already ended.
According to the results of trading in foreign securities on the Stock Exchange on Monday – the first day of November – made more than 1.2 million transactions with shares of 1558 issuers totaling almost 2.2 billion US dollars. Market expectations November 2 is the Waiting day. If this were an election, we could call it a day of silence.
Absolutely nothing is happening. Even macroeconomic data are not published. Only quarterly reports from several companies will be released, and no more. Therefore, all trading will be based solely on emotions and psychology. Since yesterday, market participants got a little hot at the end of trading and made quotes somewhat high; the market looks a little overheated.
It means that no one will rush anywhere for sure, and we will most likely see a quiet digging at the current heights and unhurried preparation for tomorrow’s stormy day.
Therefore, market participants will focus primarily on the shares of those companies that will publish their quarterly reports today.
These are primarily Pfizer (PFE), T-Mobile USA (TMUS), Vertex Pharmaceutical Company (VRTX), Amgen (AMGN), and Activision Blizzard (ATVI).
