US equities open a little choppy, if leaning on the upward side. Market is highly vulnerable to a swing lower, with natural target of 4720/4700 zone. VIX is subdued in the 17s, but prone to a spike to the key 20 threshold.
sp’60min
VIX’60min
Summary
Suffice to add… early gains… but they look fragile, and I do expect indexes to turn and settle red.
I remain sitting back… so many targets… and never enough cash.
Prime targets: F, FCX
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notable stock: F
I really should be focused on buying this one back… as the 1999 $23s appear due in January. But not today… as sp’4720/4700 appears a threat before the weekend.
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notable stock: T
I only own one high yield stock – KMI. Whilst I don’t expect AT&T to do much… I am thinking about this one. The fact ‘The Batman’ is part of Warner Bros – a subsidiary, is an added attraction.
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notable weakness: RIVN
Ongoing chatter about supply chain problems in terms of batteries.
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notable miner: FCX
Freeport struggling with copper. S/t vulnerable… if only another day or two. I’d be fine to buy back anywhere <$40… but preferably with sp’4720 or so.
Time to catch a little sun…