No loss binary options indicator - duniyahaigol.com
No gods, no kings, only NOPE - or divining the future with options flows. [Part 3: Hedge Winding, Unwinding, and the NOPE]
Hello friends! We're on the last post of this series ("A Gentle Introduction to NOPE"), where we get to use all the Big Boy Concepts (TM) we've discussed in the prior posts and put them all together. Some words before we begin:
This post will be massively theoretical, in the sense that my own speculation and inferences will be largely peppered throughout the post. Are those speculations right? I think so, or I wouldn't be posting it, but they could also be incorrect.
I will briefly touch on using the NOPE this slide, but I will make a secondary post with much more interesting data and trends I've observed. This is primarily for explaining what NOPE is and why it potentially works, and what it potentially measures.
My advice before reading this is to glance at my prior posts, and either read those fully or at least make sure you understand the tl;drs: https://www.reddit.com/thecorporation/collection/27dc72ad-4e78-44cd-a788-811cd666e32a Depending on popular demand, I will also make a last-last post called FAQ, where I'll tabulate interesting questions you guys ask me in the comments! --- So a brief recap before we begin. Market Maker ("Mr. MM"): An individual or firm who makes money off the exchange fees and bid-ask spread for an asset, while usually trying to stay neutral about the direction the asset moves. Delta-gamma hedging: The process Mr. MM uses to stay neutral when selling you shitty OTM options, by buying/selling shares (usually) of the underlying as the price moves. Law of Surprise [Lily-ism]: Effectively, the expected profit of an options trade is zero for both the seller and the buyer. Random Walk: A special case of a deeper probability probability called a martingale, which basically models stocks or similar phenomena randomly moving every step they take (for stocks, roughly every millisecond). This is one of the most popular views of how stock prices move, especially on short timescales. Future Expected Payoff Function [Lily-ism]: This is some hidden function that every market participant has about an asset, which more or less models all the possible future probabilities/values of the assets to arrive at a "fair market price". This is a more generalized case of a pricing model like Black-Scholes, or DCF. Counter-party: The opposite side of your trade (if you sell an option, they buy it; if you buy an option, they sell it). Price decoherence ]Lily-ism]: A more generalized notion of IV Crush, price decoherence happens when instead of the FEPF changing gradually over time (price formation), the FEPF rapidly changes, due usually to new information being added to the system (e.g. Vermin Supreme winning the 2020 election). --- One of the most popular gambling events for option traders to play is earnings announcements, and I do owe the concept of NOPE to hypothesizing specifically about the behavior of stock prices at earnings. Much like a black hole in quantum mechanics, most conventional theories about how price should work rapidly break down briefly before, during, and after ER, and generally experienced traders tend to shy away from playing earnings, given their similar unpredictability. Before we start: what is NOPE? NOPE is a funny backronym from Net Options Pricing Effect, which in its most basic sense, measures the impact option delta has on the underlying price, as compared to share price. When I first started investigating NOPE, I called it OPE (options pricing effect), but NOPE sounds funnier. The formula for it is dead simple, but I also have no idea how to do LaTeX on reddit, so this is the best I have: https://preview.redd.it/ais37icfkwt51.png?width=826&format=png&auto=webp&s=3feb6960f15a336fa678e945d93b399a8e59bb49 Since I've already encountered this, put delta in this case is the absolute value (50 delta) to represent a put. If you represent put delta as a negative (the conventional way), do not subtract it; add it. To keep this simple for the non-mathematically minded: the NOPE today is equal to the weighted sum (weighted by volume) of the delta of every call minus the delta of every put for all options chains extending from today to infinity. Finally, we then divide that number by the # of shares traded today in the market session (ignoring pre-market and post-market, since options cannot trade during those times). Effectively, NOPE is a rough and dirty way to approximate the impact of delta-gamma hedging as a function of share volume, with us hand-waving the following factors:
To keep calculations simple, we assume that all counter-parties are hedged. This is obviously not true, especially for idiots who believe theta ganging is safe, but holds largely true especially for highly liquid tickers, or tickers will designated market makers (e.g. any ticker in the NASDAQ, for instance).
We assume that all hedging takes place via shares. For SPY and other products tracking the S&P, for instance, market makers can actually hedge via futures or other options. This has the benefit for large positions of not moving the underlying price, but still makes up a fairly small amount of hedges compared to shares.
Winding and Unwinding
I briefly touched on this in a past post, but two properties of NOPE seem to apply well to EER-like behavior (aka any binary catalyst event):
NOPE measures sentiment - In general, the options market is seen as better informed than share traders (e.g. insiders trade via options, because of leverage + easier to mask positions). Therefore, a heavy call/put skew is usually seen as a bullish sign, while the reverse is also true.
NOPE measures system stability
I'm not going to one-sentence explain #2, because why say in one sentence what I can write 1000 words on. In short, NOPE intends to measure sensitivity of the system (the ticker) to disruption. This makes sense, when you view it in the context of delta-gamma hedging. When we assume all counter-parties are hedged, this means an absolutely massive amount of shares get sold/purchased when the underlying price moves. This is because of the following: a) Assume I, Mr. MM sell 1000 call options for NKLA 25C 10/23 and 300 put options for NKLA 15p 10/23. I'm just going to make up deltas because it's too much effort to calculate them - 30 delta call, 20 delta put. This implies Mr. MM needs the following to delta hedge: (1000 call options * 30 shares to buy for each) [to balance out writing calls) - (300 put options * 20 shares to sell for each) = 24,000net shares Mr. MM needs to acquire to balance out his deltas/be fully neutral. b) This works well when NKLA is at $20. But what about when it hits $19 (because it only can go down, just like their trucks). Thanks to gamma, now we have to recompute the deltas, because they've changed for both the calls (they went down) and for the puts (they went up). Let's say to keep it simple that now my calls are 20 delta, and my puts are 30 delta. From the 24,000 net shares, Mr. MM has to now have: (1000 call options * 20 shares to have for each) - (300 put options * 30 shares to sell for each) = 11,000 shares. Therefore, with a $1 shift in price, now to hedge and be indifferent to direction, Mr. MM has to go from 24,000 shares to 11,000 shares, meaning he has to sell 13,000 shares ASAP, or take on increased risk. Now, you might be saying, "13,000 shares seems small. How would this disrupt the system?" (This process, by the way, is called hedge unwinding) It won't, in this example. But across thousands of MMs and millions of contracts, this can - especially in highly optioned tickers - make up a substantial fraction of the net flow of shares per day. And as we know from our desk example, the buying or selling of shares directly changes the price of the stock itself. This, by the way, is why the NOPE formula takes the shape it does. Some astute readers might notice it looks similar to GEX, which is not a coincidence. GEX however replaces daily volume with open interest, and measures gamma over delta, which I did not find good statistical evidence to support, especially for earnings. So, with our example above, why does NOPE measure system stability? We can assume for argument's sake that if someone buys a share of NKLA, they're fine with moderate price swings (+- $20 since it's NKLA, obviously), and in it for the long/medium haul. And in most cases this is fine - we can own stock and not worry about minor swings in price. But market makers can't* (they can, but it exposes them to risk), because of how delta works. In fact, for most institutional market makers, they have clearly defined delta limits by end of day, and even small price changes require them to rebalance their hedges. This over the whole market adds up to a lot shares moving, just to balance out your stupid Robinhood YOLOs. While there are some tricks (dark pools, block trades) to not impact the price of the underlying, the reality is that the more options contracts there are on a ticker, the more outsized influence it will have on the ticker's price. This can technically be exactly balanced, if option put delta is equal to option call delta, but never actually ends up being the case. And unlike shares traded, the shares representing the options are more unstable, meaning they will be sold/bought in response to small price shifts. And will end up magnifying those price shifts, accordingly.
NOPE and Earnings
So we have a new shiny indicator, NOPE. What does it actually mean and do? There's much literature going back to the 1980s that options markets do have some level of predictiveness towards earnings, which makes sense intuitively. Unlike shares markets, where you can continue to hold your share even if it dips 5%, in options you get access to expanded opportunity to make riches... and losses. An options trader betting on earnings is making a risky and therefore informed bet that he or she knows the outcome, versus a share trader who might be comfortable bagholding in the worst case scenario. As I've mentioned largely in comments on my prior posts, earnings is a special case because, unlike popular misconceptions, stocks do not go up and down solely due to analyst expectations being meet, beat, or missed. In fact, stock prices move according to the consensus market expectation, which is a function of all the participants' FEPF on that ticker. This is why the price moves so dramatically - even if a stock beats, it might not beat enough to justify the high price tag (FSLY); even if a stock misses, it might have spectacular guidance or maybe the market just was assuming it would go bankrupt instead. To look at the impact of NOPE and why it may play a role in post-earnings-announcement immediate price moves, let's review the following cases:
Stock Meets/Exceeds Market Expectations (aka price goes up) - In the general case, we would anticipate post-ER market participants value the stock at a higher price, pushing it up rapidly. If there's a high absolute value of NOPE on said ticker, this should end up magnifying the positive move since:
a) If NOPE is high negative - This means a ton of put buying, which means a lot of those puts are now worthless (due to price decoherence). This means that to stay delta neutral, market makers need to close out their sold/shorted shares, buying them, and pushing the stock price up. b) If NOPE is high positive - This means a ton of call buying, which means a lot of puts are now worthless (see a) but also a lot of calls are now worth more. This means that to stay delta neutral, market makers need to close out their sold/shorted shares AND also buy more shares to cover their calls, pushing the stock price up. 2) Stock Meets/Misses Market Expectations (aka price goes down)- Inversely to what I mentioned above, this should push to the stock price down, fairly immediately. If there's a high absolute value of NOPE on said ticker, this should end up magnifying the negative move since: a) If NOPE is high negative - This means a ton of put buying, which means a lot of those puts are now worth more, and a lot of calls are now worth less/worth less (due to price decoherence). This means that to stay delta neutral, market makers need to sell/short more shares, pushing the stock price down. b) If NOPE is high positive - This means a ton of call buying, which means a lot of calls are now worthless (see a) but also a lot of puts are now worth more. This means that to stay delta neutral, market makers need to sell even more shares to keep their calls and puts neutral, pushing the stock price down. --- Based on the above two cases, it should be a bit more clear why NOPE is a measure of sensitivity to system perturbation. While we previously discussed it in the context of magnifying directional move, the truth is it also provides a directional bias to our "random" walk. This is because given a price move in the direction predicted by NOPE, we expect it to be magnified, especially in situations of price decoherence. If a stock price goes up right after an ER report drops, even based on one participant deciding to value the stock higher, this provides a runaway reaction which boosts the stock price (due to hedging factors as well as other participants' behavior) and inures it to drops.
NOPE and NOPE_MAD
I'm going to gloss over this section because this is more statistical methods than anything interesting. In general, if you have enough data, I recommend using NOPE_MAD over NOPE. While NOPE in theory represents a "real" quantity (net option delta over net share delta), NOPE_MAD (the median absolute deviation of NOPE) does not. NOPE_MAD simply answecompare the following:
How exceptional is today's NOPE versus historic baseline (30 days prior)?
How do I compare two tickers' NOPEs effectively (since some tickers, like TSLA, have a baseline positive NOPE, because Elon memes)? In the initial stages, we used just a straight numerical threshold (let's say NOPE >= 20), but that quickly broke down. NOPE_MAD aims to detect anomalies, because anomalies in general give you tendies.
I might add the formula later in Mathenese, but simply put, to find NOPE_MAD you do the following:
Calculate today's NOPE score (this can be done end of day or intraday, with the true value being EOD of course)
Calculate the end of day NOPE scores on the ticker for the previous 30 trading days
Compute the median of the previous 30 trading days' NOPEs
Find today's deviation as compared to the MAD calculated by: [(today's NOPE) - (median NOPE of last 30 days)] / (median absolute deviation of last 30 days)
This is usually reported as sigma (σ), and has a few interesting properties:
The mean of NOPE_MAD for any ticker is almost exactly 0.
[Lily's Speculation's Speculation] NOPE_MAD acts like a spring, and has a tendency to reverse direction as a function of its magnitude. No proof on this yet, but exploring it!
Using the NOPE to predict ER
So the last section was a lot of words and theory, and a lot of what I'm mentioning here is empirically derived (aka I've tested it out, versus just blabbered). In general, the following holds true:
3 sigma NOPE_MAD tends to be "the threshold": For very low NOPE_MAD magnitudes (+- 1 sigma), it's effectively just noise, and directionality prediction is low, if not non-existent. It's not exactly like 3 sigma is a play and 2.9 sigma is not a play; NOPE_MAD accuracy increases as NOPE_MAD magnitude (either positive or negative) increases.
NOPE_MAD is only useful on highly optioned tickers: In general, I introduce another parameter for sifting through "candidate" ERs to play: option volume * 100/share volume. When this ends up over let's say 0.4, NOPE_MAD provides a fairly good window into predicting earnings behavior.
NOPE_MAD only predicts during the after-market/pre-market session: I also have no idea if this is true, but my hunch is that next day behavior is mostly random and driven by market movement versus earnings behavior. NOPE_MAD for now only predicts direction of price movements right between the release of the ER report (AH or PM) and the ending of that market session. This is why in general I recommend playing shares, not options for ER (since you can sell during the AH/PM).
NOPE_MAD only predicts direction of price movement: This isn't exactly true, but it's all I feel comfortable stating given the data I have. On observation of ~2700 data points of ER-ticker events since Mar 2019 (SPY 500), I only so far feel comfortable predicting whether stock price goes up (>0 percent difference) or down (<0 price difference). This is +1 for why I usually play with shares.
Some statistics: #0) As a baseline/null hypothesis, after ER on the SPY500 since Mar 2019, 50-51% price movements in the AH/PM are positive (>0) and ~46-47% are negative (<0). #1) For NOPE_MAD >= +3 sigma, roughly 68% of price movements are positive after earnings. #2) For NOPE_MAD <= -3 sigma, roughly 29% of price movements are positive after earnings. #3) When using a logistic model of only data including NOPE_MAD >= +3 sigma or NOPE_MAD <= -3 sigma, and option/share vol >= 0.4 (around 25% of all ERs observed), I was able to achieve 78% predictive accuracy on direction.
Like all models, NOPE is wrong, but perhaps useful. It's also fairly new (I started working on it around early August 2020), and in fact, my initial hypothesis was exactly incorrect (I thought the opposite would happen, actually). Similarly, as commenters have pointed out, the timeline of data I'm using is fairly compressed (since Mar 2019), and trends and models do change. In fact, I've noticed significantly lower accuracy since the coronavirus recession (when I measured it in early September), but I attribute this mostly to a smaller date range, more market volatility, and honestly, dumber option traders (~65% accuracy versus nearly 80%). My advice so far if you do play ER with the NOPE method is to use it as following:
Buy/short shares approximately right when the market closes before ER. Ideally even buying it right before the earnings report drops in the AH session is not a bad idea if you can.
Sell/buy to close said shares at the first sign of major weakness (e.g. if the NOPE predicted outcome is incorrect).
Sell/buy to close shares even if it is correct ideally before conference call, or by the end of the after-market/pre-market session.
Only play tickers with high NOPE as well as high option/share vol.
--- In my next post, which may be in a few days, I'll talk about potential use cases for SPY and intraday trends, but I wanted to make sure this wasn't like 7000 words by itself. Cheers. - Lily
Forex Signals Reddit: top providers review (part 1)
Forex Signals - TOP Best Services. Checked!
To invest in the financial markets, we must acquire good tools that help us carry out our operations in the best possible way. In this sense, we always talk about the importance of brokers, however, signal systems must also be taken into account. The platforms that offer signals to invest in forex provide us with alerts that will help us in a significant way to be able to carry out successful operations. For this reason, we are going to tell you about the importance of these alerts in relation to the trading we carry out, because, without a doubt, this type of system will provide us with very good information to invest at the right time and in the best assets in the different markets. financial Within this context, we will focus on Forex signals, since it is the most important market in the world, since in it, multiple transactions are carried out on a daily basis, hence the importance of having an alert system that offers us all the necessary data to invest in currencies. Also, as we all already know, cryptocurrencies have become a very popular alternative to investing in traditional currencies. Therefore, some trading services/tools have emerged that help us to carry out successful operations in this particular market. In the following points, we will detail everything you need to know to start operating in the financial markets using trading signals: what are signals, how do they work, because they are a very powerful help, etc. Let's go there!
What are Forex Trading Signals?
https://preview.redd.it/vjdnt1qrpny51.jpg?width=640&format=pjpg&auto=webp&s=bc541fc996701e5b4dd940abed610b59456a5625 Before explaining the importance of Forex signals, let's start by making a small note so that we know what exactly these alerts are. Thus, we will know that the signals on the currency market are received by traders to know all the information that concerns Forex, both for assets and for the market itself. These alerts allow us to know the movements that occur in the Forex market and the changes that occur in the different currency pairs. But the great advantage that this type of system gives us is that they provide us with the necessary information, to know when is the right time to carry out our investments.
In other words, through these signals, we will know the opportunities that are presented in the market and we will be able to carry out operations that can become quite profitable.
Profitability is precisely another of the fundamental aspects that must be taken into account when we talk about Forex signals since the vast majority of these alerts offer fairly reliable data on assets. Similarly, these signals can also provide us with recommendations or advice to make our operations more successful.
»Purpose: predict movements to carry out Profitable Operations
In short, Forex signal systems aim to predict the behavior that the different assets that are in the market will present and this is achieved thanks to new technologies, the creation of specialized software, and of course, the work of financial experts. In addition, it must also be borne in mind that the reliability of these alerts largely lies in the fact that they are prepared by financial professionals. So they turn out to be a perfect tool so that our investments can bring us a greater number of benefits.
The best signal services today
We are going to tell you about the 3 main alert system services that we currently have on the market. There are many more, but I can assure these are not scams and are reliable. Of course, not 100% of trades will be a winner, so please make sure you apply proper money management and risk management system.
1. 1000pipbuilder (top choice)
Fast track your success and follow the high-performance Forex signals from 1000pip Builder. These Forex signals are rated 5 stars on Investing.com, so you can follow every signal with confidence. All signals are sent by a professional trader with over 10 years investment experience. This is a unique opportunity to see with your own eyes how a professional Forex trader trades the markets. The 1000pip Builder Membership is ordinarily a signal service for Forex trading. You will get all the facts you need to successfully comply with the trading signals, set your stop loss and take earnings as well as additional techniques and techniques! You will get easy to use trading indicators for Forex Trades, including your entry, stop loss and take profit. Overall, the earnings target per months is 350 Pips, depending on your funding this can be a high profit per month! (In fact, there is by no means a guarantee, but the past months had been all between 600 – 1000 Pips). >>>Know more about 1000pipbuilder Your 1000pip builder membership gives you all in hand you want to start trading Forex with success. Read the directions and wait for the first signals. You can trade them inside your demo account first, so you can take a look at the performance before you make investments real money! Features:
Forex signals sent by email and SMS
Entry price, take profit and stop loss provided
Suitable for all time zones (signals sent over 24 hours)
Digital Derivatives Markets (DDMarkets) have been providing trade alert offerings since May 2014 - fully documenting their change ideas in an open and transparent manner. September 2020 performance report for DD Markets. Their manner is simple: carry out extensive research, share their evaluation and then deliver a trading sign when triggered. Once issued, daily updates on the trade are despatched to members via email. It's essential to note that DDMarkets do not tolerate floating in an open drawdown in an effort to earnings at any cost - a common method used by less professional providers to 'fudge' performance statistics. Verified Statistics: Not independently verified. Price: plans from $74.40 per month. Year Founded: 2014 Suitable for Beginners: Yes, (includes handy to follow trade analysis) VISIT -------
If you are looking or a forex signal service with a reliable (and profitable) music record you can't go previous Joel Kruger and the team at JKonFX. Trading performance file for JKonFX. Joel has delivered a reputable +59.18% journal performance for 2016, imparting real-time technical and fundamental insights, in an extremely obvious manner, to their 30,000+ subscriber base. Considered a low-frequency trader, alerts are only a small phase of the overall JKonFX subscription. If you're searching for hundreds of signals, you may want to consider other options. Verified Statistics: Not independently verified. Price: plans from $30 per month. Year Founded: 2014 Suitable for Beginners: Yes, (includes convenient to follow videos updates). VISIT
The importance of signals to invest in Forex
Once we have known what Forex signals are, we must comment on the importance of these alerts in relation to our operations. As we have already told you in the previous paragraph, having a system of signals to be able to invest is quite advantageous, since, through these alerts, we will obtain quality information so that our operations end up being a true success.
»Use of signals for beginners and experts
In this sense, we have to say that one of the main advantages of Forex signals is that they can be used by both beginners and trading professionals. As many as others can benefit from using a trading signal system because the more information and resources we have in our hands. The greater probability of success we will have. Let's see how beginners and experts can take advantage of alerts:
Beginners: for inexperienced these alerts become even more important since they will thus have an additional tool that will guide them to carry out all operations in the Forex market.
Professionals: In the same way, professionals are also recommended to make use of these alerts, so they have adequate information to continue bringing their investments to fruition.
Now that we know that both beginners and experts can use forex signals to invest, let's see what other advantages they have.
When we dedicate ourselves to working in the financial world, none of us can spend 24 hours in front of the computer waiting to perform the perfect operation, it is impossible. That is why Forex signals are important, because, in order to carry out our investments, all we will have to do is wait for those signals to arrive, be attentive to all the alerts we receive, and thus, operate at the right time according to the opportunities that have arisen. It is fantastic to have a tool like this one that makes our work easier in this regard.
»Carry out profitable Forex operations
These signals are also important, because the vast majority of them are usually quite profitable, for this reason, we must get an alert system that provides us with accurate information so that our operations can bring us great benefits. But in addition, these Forex signals have an added value and that is that they are very easy to understand, therefore, we will have a very useful tool at hand that will not be complicated and will end up being a very beneficial weapon for us.
»Decision support analysis
A system of currency market signals is also very important because it will help us to make our subsequent decisions. We cannot forget that, to carry out any type of operation in this market, previously, we must meditate well and know the exact moment when we will know that our investments are going to bring us profits . Therefore, all the information provided by these alerts will be a fantastic basis for future operations that we are going to carry out.
»Trading Signals made by professionals
Finally, we have to recall the idea that these signals are made by the best professionals. Financial experts who know perfectly how to analyze the movements that occur in the market and changes in prices. Hence the importance of alerts, since they are very reliable and are presented as a necessary tool to operate in Forex and that our operations are as profitable as possible.
What should a signal provider be like?
https://preview.redd.it/j0ne51jypny51.png?width=640&format=png&auto=webp&s=5578ff4c42bd63d5b6950fc6401a5be94b97aa7f As you have seen, Forex signal systems are really important for our operations to bring us many benefits. For this reason, at present, there are multiple platforms that offer us these financial services so that investing in currencies is very simple and fast. Before telling you about the main services that we currently have available in the market, it is recommended that you know what are the main characteristics that a good signal provider should have, so that, at the time of your choice, you are clear that you have selected one of the best systems.
»Must send us information on the main currency pairs
In this sense, one of the first things we have to comment on is that a good signal provider, at a minimum, must send us alerts that offer us information about the 6 main currencies, in this case, we refer to the euro, dollar, The pound, the yen, the Swiss franc, and the Canadian dollar. Of course, the data you provide us will be related to the pairs that make up all these currencies. Although we can also find systems that offer us information about other minorities, but as we have said, at a minimum, we must know these 6.
»Trading tools to operate better
Likewise, signal providers must also provide us with a large number of tools so that we can learn more about the Forex market.
We refer, for example, to technical analysis above all, which will help us to develop our own strategies to be able to operate in this market.
These analyzes are always prepared by professionals and study, mainly, the assets that we have available to invest.
»Different Forex signals reception channels
They must also make available to us different ways through which they will send us the Forex signals, the usual thing is that we can acquire them through the platform's website, or by a text message and even through our email. In addition, it is recommended that the signal system we choose sends us a large number of alerts throughout the day, in order to have a wide range of possibilities.
»Free account and customer service
Other aspects that we must take into account to choose a good signal provider is whether we have the option of receiving, for a limited time, alerts for free or the profitability of the signals they emit to us. Similarly, a final aspect that we must emphasize is that a good signal system must also have excellent customer service, which is available to us 24 hours a day and that we can contact them at through an email, a phone number, or a live chat, for greater immediacy. Well, having said all this, in our last section we are going to tell you which are the best services currently on the market. That is, the most suitable Forex signal platforms to be able to work with them and carry out good operations. In this case, we will talk about ForexPro Signals, 365 Signals and Binary Signals.
Forex Signals Reddit: conclusion
To be able to invest properly in the Forex market, it is convenient that we get a signal system that provides us with all the necessary information about this market. It must be remembered that Forex is a very volatile market and therefore, many movements tend to occur quickly. Asset prices can change in a matter of seconds, hence the importance of having a system that helps us analyze the market and thus know, what is the right time for us to start operating. Therefore, although there are currently many signal systems that can offer us good services, the three that we have mentioned above are the ones that are best valued by users, which is why they are the best signal providers that we can choose to carry out. our investments. Most of these alerts are quite profitable and in addition, these systems usually emit a large number of signals per day with full guarantees. For all this, SignalsForexPro, Signals365, or SignalsBinary are presented as fundamental tools so that we can obtain a greater number of benefits when we carry out our operations in the currency market.
Wall Street Week Ahead for the trading week beginning August 17th, 2020
Good Saturday morning to all of you here on stocks. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week ahead. Here is everything you need to know to get you ready for the trading week beginning August 17th, 2020.
Stocks are ignoring the lack of a stimulus package from Congress, but that could change - (Source)
Stocks could hang at record levels but gains may be capped until Congress agrees to a new stimulus package to help the economy and the millions of unemployed Americans. Stocks were higher in the past week, and the S&P 500 flirted with record levels it set in February. In the coming week, there are some major retailers reporting earnings, including Walmart, Home Depot and Target, but the season is mostly over and the market is entering a quiet period. There are minutes from the Fed’s last meeting, released Wednesday, and housing data, including starts Tuesday and existing sales Friday. Investors had been watching efforts by Congress to agree to a new stimulus package, but talks have failed and the Senate has gone on recess. There is a concern that Congress will not be convinced to provide a big enough package when it does get to work again on the next stimulus round because recent economic reports look stronger. July’s retail sales, for example, climbed to a record level and recovered to pre-pandemic levels. “The juxtaposition of getting more fiscal stimulus and better data has paralyzed us in our tracks … we’ve seen this sideways [market] action,” said Art Hogan, chief market strategist at National Alliance. “It feels like we need more action from Congress, and the concern is the longer we wait, the better the data gets and the less impactful the next round of stimulus will be.” Some technical analysts say the market may pull back around the high, to allow it to consolidate gains before moving higher into the end of the year. The S&P 500 reached an all-time high of 3,393 on Feb. 19. Hogan said he expects stocks to tread sideways during the dog days of August, but they could begin to react negatively to the election in September. He also said it is important that progress continue against the spread of Covid-19, as the economy continues to reopen. Peter Boockvar, chief investment strategist at Bleakley Advisory Group, said the market could have a wakeup call at some point that the stimulus package has not been approved. “I think it will cross over a line where they care,” he said. “I think the market is in suspended animation of believing there will be a magical deal.” Boockvar said he expects a deal ultimately, but the impact is not likely to be as big as the last round of funding. “What they’re not grasping is any deal, any extension of unemployment benefits, is going to be smaller than it was, and the rate of change should be the most important thing investors focus on,” he said. “Not the binary outcome of whether there’s a deal or no deal. There’s going to be less air going into the balloon.”
It’s the economy
Still, economists expect to see a strong rebound in the third quarter, and are anticipating about about a 20% jump in third-quarter growth. But they also say that could be threatened if Congress does not help with another stimulus package. Mark Zandi, chief economist at Moody’s Analytics, described the July retail sales as a perfect V-shaped recovery, but cautioned it would not last unless more aid gets to individuals and cities and states. Democrats have sought a $3 trillion spending package, and Republicans in the Senate offered a $1 trillion package. They could not reach a compromise, including on a $600 weekly payment to individuals on unemployment which expired July 31. President Donald Trump has tried to fill the gap with executive orders to provide extra benefits to those on unemployment, but the $300 federal payment and $100 from states may take some time to reach individuals, as the processing varies by state. He has also issued an order instructing the Treasury to temporarily defer collection of payroll taxes from individuals making up to $104,000. “I think in August and September, there will be a lot of Ws, if there’s not more help here,” said Zandi, referring to an economic recovery that retrenches from a V shape before heading higher again. “It’s clearly perplexing. It may take the stock market to say we’re not going to get what we expect, and sell off and light a fire.” Zandi said it could come to a situation like 2008, where the stock market sold off sharply before Congress would agree to a program that helped financial companies. “We need a TARP moment to get these guys to help. Maybe if the claims tick higher and the August employment numbers are soft, given the president is focused on the stock market, that might be what it takes to get them back to the table in earnest,” he said, referring to the Troubled Asset Relief Program that helped rescue banks during the financial crisis. He ultimately expects a package of about $1.5 trillion to be approved in September. The lack of funding for state and local governments could result in more layoffs, as they struggle with their current 2021 budgets, Zandi said. Already 1.3 million public sector jobs have been lost since February, and there will be more layoffs and more programs and projects cancelled. The impact will hit contractors and other businesses that provide services to local governments. “The multipliers on state and local government are among the highest of any form of support, so if you don’t provide it, it’s going to ripple through the economy pretty fast,” he said. Economists expect to see a softening in consumer spending in August with the more than 28 million Americans on unemployment benefits as of mid-July no longer receiving any supplemental pay. “The real irony is things are shaping up that September is going to be a bad month, and that’s going to show up in all the data in October,” Zandi said. “They are really taking a chance on this election by not acting.”
This past week saw the following moves in the S&P:
The S&P 500 Index is a few points away from a new all-time high, completing one of the fastest recoveries from a bear market ever. But this will also seal the deal on the shortest bear market ever. Remember, the S&P 500 Index lost 20% from an all-time high in only 16 trading days back in February and March, so it makes sense that this recovery could be one of the fastest ever. From the lows on March 23, the S&P 500 has now added more than 50%. Many have been calling this a bear market rally for months, while we have been in the camp this is something more. It’s easy to see why this rally is different based on where it stands versus other bear market rallies:
They say the stock market is the only place where things go on sale, yet everyone runs out of the store screaming. We absolutely saw that back in March and now with stocks near new highs, many have missed this record run. Here we show how stocks have been usually higher a year or two after corrections.
After a historic drop in March, the S&P 500 has closed higher in April, May, June, and July. This rare event has happened only 11 other times, with stocks gaining the final five months of the year a very impressive 10 times. Only 2018 and the nearly 20% collapse in December saw a loss those final five months.
As shown in the LPL Chart of the Day, this bear market will go down as the fastest ever, at just over one month. The recovery back to new highs will be five months if we get there by August 23, making this one of the fastest recoveries ever. Not surprisingly, it usually takes longer for bear markets in a recession to recover; only adding to the impressiveness of this rally.
“It normally takes 30 months for bear markets during a recession to recover their losses, which makes this recovery all the more amazing,” said LPL Financial Chief Market Strateigst Ryan Detrick.. “Then again, there has been nothing normal about this recession, so maybe we shouldn’t be shocked about yet another record going down in 2020.”
When a Few Basis Points Packs a Punch
US Treasury yields have been on the rise this week with the 10-year yield rising 13 basis points (bps) from 0.56% up to 0.69% after getting as high as 0.72% on Thursday. A 13 bps move higher in interest rates may not seem like a whole lot, but with rates already at such low levels, a small move can have a pretty big impact on the prices of longer-term maturities.
Starting with longer-term US Treasuries, TLT, which measures the performance of maturities greater than 20 years, has declined 3.5% this week. Now, for a growth stock, 3.5% is par for the course, but that kind of move in the Treasury market is no small thing. The latest pullback for TLT also coincides with another failed attempt by the ETF to trade and stay above $170 for more than a day.
The further out the maturity window you go in the fixed income market, the bigger the impact of the move higher in interest rates. The Republic of Austria issued a 100-year bond in 2017, and its movements exemplify the wild moves that small changes in interest rates (from a low base) can have on prices. Just this week, the Austrian 100-year was down over 5%, which is a painful move no matter what type of asset class you are talking about. This week's move, though, was nothing compared to the stomach-churning swings from earlier this year. When Covid was first hitting the fan, the 100-year rallied 57% in the span of less than two months. That kind of move usually occurs over years rather than days, but in less than a third of that time, all those gains disintegrated in a two-and-a-half week span from early to late March. Easy come, easy go. Ironically enough, despite all the big up and down moves in this bond over the last year, as we type this, the bond's price is the same now as it was on this same day last year.
At the headline level, July’s Retail Sales report disappointed as the reading missed expectations by nearly a full percentage point. Just as soon as the report was released, we saw a number of stories pounce on the disappointment as a sign that the economy was losing steam. Looked at in more detail, though, the July report wasn’t all that bad. While the headline reading rose less than expected (1.2% vs 2.1%), Ex Autos and Ex Autos and Gas, the results were much better than expected. Not only that, but June’s original readings were all revised higher by around a full percentage point. Besides the fact that this month’s report was better underneath the surface and June’s reading was revised higher, it was also notable as the seasonally-adjusted annualized rate of sales in July hit a new record high. After the last record high back in January, only five months passed until American consumers were back to their pre-Covid spending ways. For the sake of comparison, back during the Financial Crisis, 40 months passed between the original high in Retail Sales in November 2007 and the next record high in April 2011. 5 months versus 40? Never underestimate the power of the US consumer!
While the monthly pace of retail sales is back at all-time highs, the characteristics behind the total level of sales have changed markedly in the post COVID world. In our just released B.I.G. Tips report we looked at these changing dynamics to highlight the groups that have been the biggest winners and losers from the shifts.
100 Days of Gains
Today marked 100 trading days since the Nasdaq 100's March 20th COVID Crash closing low. Below is a chart showing the rolling 100-trading day percentage change of the Nasdaq 100 since 1985. The 59.8% gain over the last 100 trading days ranks as the 3rd strongest run on record. The only two stronger 100-day rallies ended in January 1999 and March 2000.
While the Nasdaq 100 bottomed on Friday, March 20th, the S&P 500 bottomed the following Monday (3/23). This means tomorrow will mark 100 trading days since the S&P 500's COVID Crash closing low. Right now the rolling 100-day percentage change for the S&P 500 sits at +46.7%. But if the S&P manages to trade at current levels tomorrow, the 100-day gain will jump above 50%. It has been 87 years (1933) since we've seen a 100-day gain of more than 50%!
Whether you want to look at it from the perspective of closing prices or intraday levels, the S&P 500 is doing what just about everybody thought would be impossible less than five months ago - approaching record highs. Relative to its closing high of 3,386.15, the S&P 500 is just 0.27% lower, while it's within half of a percent from its record intraday high of 3,393.52. Through today, the S&P 500 has gone 120 trading days without a record high, and as shown in the chart below, the current streak is barely even visible when viewed in the perspective of all streaks since 1928. Even if we zoom in on just the last five years, the current streak of 120 trading days only ranks as the fourth-longest streak without a new high. While the S&P 500's 120-trading day streak without a new high isn't extreme by historical standards, the turnaround off the lows has been extraordinary. In the S&P 500's history, there have been ten prior declines of at least 20% from a record closing high. Of those ten prior periods, the shortest gap between the original record high and the next one was 309 trading days, and the shortest gap between highs that had a pullback of at least 30% was 484 tradings days (or more than four times the current gap of 120 trading days). For all ten streaks without a record high, the median drought was 680 trading days.
Whenever the S&P 500 does take out its 2/19 high, the question is whether the new high represents a breakout where the S&P 500 keeps rallying into evergreen territory, or does it run out of gas after finally reaching a new milestone? To shed some light on this question, we looked at the S&P 500's performance following each prior streak of similar duration without a new high.
STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending August 14th, 2020
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STOCK MARKET VIDEO: ShadowTrader Video Weekly 8.16.20
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(VIDEO NOT YET POSTED!) Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
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Walmart Inc. $132.60
Walmart Inc. (WMT) is confirmed to report earnings at approximately 7:00 AM ET on Tuesday, August 18, 2020. The consensus earnings estimate is $1.20 per share on revenue of $134.28 billion and the Earnings Whisper ® number is $1.29 per share. Investor sentiment going into the company's earnings release has 81% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 5.51% with revenue increasing by 2.99%. Short interest has decreased by 12.5% since the company's last earnings release while the stock has drifted higher by 0.6% from its open following the earnings release to be 9.9% above its 200 day moving average of $120.64. Overall earnings estimates have been revised higher since the company's last earnings release. On Tuesday, August 11, 2020 there was some notable buying of 12,381 contracts of the $135.00 put expiring on Friday, August 21, 2020. Option traders are pricing in a 4.9% move on earnings and the stock has averaged a 2.3% move in recent quarters.
NVIDIA Corp. (NVDA) is confirmed to report earnings at approximately 4:20 PM ET on Wednesday, August 19, 2020. The consensus earnings estimate is $1.95 per share on revenue of $3.65 billion and the Earnings Whisper ® number is $2.01 per share. Investor sentiment going into the company's earnings release has 84% expecting an earnings beat The company's guidance was for earnings of $1.83 to $2.06 per share. Consensus estimates are for year-over-year earnings growth of 65.25% with revenue increasing by 41.53%. The stock has drifted higher by 31.0% from its open following the earnings release to be 57.7% above its 200 day moving average of $293.24. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, August 14, 2020 there was some notable buying of 3,787 contracts of the $460.00 call expiring on Friday, August 21, 2020. Option traders are pricing in a 7.7% move on earnings and the stock has averaged a 4.0% move in recent quarters.
Alibaba Group Holding Ltd. (BABA) is confirmed to report earnings at approximately 7:10 AM ET on Thursday, August 20, 2020. The consensus earnings estimate is $1.99 per share on revenue of $21.13 billion and the Earnings Whisper ® number is $2.11 per share. Investor sentiment going into the company's earnings release has 83% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 8.74% with revenue increasing by 26.22%. Short interest has increased by 30.1% since the company's last earnings release while the stock has drifted higher by 25.0% from its open following the earnings release to be 20.0% above its 200 day moving average of $211.59. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, August 7, 2020 there was some notable buying of 12,935 contracts of the $300.00 call expiring on Friday, November 20, 2020. Option traders are pricing in a 6.2% move on earnings and the stock has averaged a 3.1% move in recent quarters.
JD.com, Inc. (JD) is confirmed to report earnings at approximately 5:50 AM ET on Monday, August 17, 2020. The consensus earnings estimate is $0.38 per share on revenue of $26.98 billion and the Earnings Whisper ® number is $0.46 per share. Investor sentiment going into the company's earnings release has 78% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 52.00% with revenue increasing by 23.25%. Short interest has increased by 16.7% since the company's last earnings release while the stock has drifted higher by 24.1% from its open following the earnings release to be 36.9% above its 200 day moving average of $45.34. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, August 14, 2020 there was some notable buying of 12,799 contracts of the $62.00 call expiring on Friday, August 21, 2020. Option traders are pricing in a 8.0% move on earnings and the stock has averaged a 6.4% move in recent quarters.
Home Depot, Inc. (HD) is confirmed to report earnings at approximately 6:00 AM ET on Tuesday, August 18, 2020. The consensus earnings estimate is $3.71 per share on revenue of $31.67 billion and the Earnings Whisper ® number is $3.75 per share. Investor sentiment going into the company's earnings release has 78% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 17.03% with revenue increasing by 2.69%. Short interest has decreased by 39.8% since the company's last earnings release while the stock has drifted higher by 16.7% from its open following the earnings release to be 22.4% above its 200 day moving average of $229.20. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, August 14, 2020 there was some notable buying of 3,323 contracts of the $300.00 call expiring on Friday, August 28, 2020. Option traders are pricing in a 4.2% move on earnings and the stock has averaged a 2.5% move in recent quarters.
Lowe's Companies, Inc. (LOW) is confirmed to report earnings at approximately 6:00 AM ET on Wednesday, August 19, 2020. The consensus earnings estimate is $2.93 per share on revenue of $21.29 billion and the Earnings Whisper ® number is $2.97 per share. Investor sentiment going into the company's earnings release has 78% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 36.28% with revenue increasing by 1.42%. Short interest has decreased by 19.2% since the company's last earnings release while the stock has drifted higher by 25.9% from its open following the earnings release to be 31.2% above its 200 day moving average of $117.67. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, August 7, 2020 there was some notable buying of 1,994 contracts of the $170.00 call expiring on Friday, August 21, 2020. Option traders are pricing in a 6.0% move on earnings and the stock has averaged a 5.8% move in recent quarters.
Target Corp. (TGT) is confirmed to report earnings at approximately 6:30 AM ET on Wednesday, August 19, 2020. The consensus earnings estimate is $1.56 per share on revenue of $19.30 billion and the Earnings Whisper ® number is $1.64 per share. Investor sentiment going into the company's earnings release has 75% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 14.29% with revenue increasing by 4.77%. Short interest has decreased by 36.8% since the company's last earnings release while the stock has drifted higher by 10.0% from its open following the earnings release to be 18.0% above its 200 day moving average of $115.73. Overall earnings estimates have been revised higher since the company's last earnings release. On Monday, August 10, 2020 there was some notable buying of 4,479 contracts of the $135.00 call expiring on Friday, September 18, 2020. Option traders are pricing in a 6.3% move on earnings and the stock has averaged a 7.7% move in recent quarters.
Sea Limited (SE) is confirmed to report earnings at approximately 6:30 AM ET on Tuesday, August 18, 2020. The consensus estimate is for a loss of $0.47 per share on revenue of $1.03 billion and the Earnings Whisper ® number is ($0.36) per share. Investor sentiment going into the company's earnings release has 74% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 34.29% with revenue increasing by 136.16%. Short interest has decreased by 8.5% since the company's last earnings release while the stock has drifted higher by 91.7% from its open following the earnings release to be 98.1% above its 200 day moving average of $63.87. Overall earnings estimates have been revised lower since the company's last earnings release. On Tuesday, August 4, 2020 there was some notable buying of 4,000 contracts of the $110.00 put expiring on Friday, January 15, 2021. Option traders are pricing in a 12.9% move on earnings and the stock has averaged a 16.7% move in recent quarters.
Niu Technologies (NIU) is confirmed to report earnings at approximately 3:00 AM ET on Monday, August 17, 2020. The consensus earnings estimate is $0.07 per share on revenue of $88.07 million and the Earnings Whisper ® number is $0.11 per share. Investor sentiment going into the company's earnings release has 57% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 30.00% with revenue increasing by 13.97%. Short interest has increased by 18.9% since the company's last earnings release while the stock has drifted higher by 129.8% from its open following the earnings release to be 90.3% above its 200 day moving average of $10.94. Overall earnings estimates have been revised higher since the company's last earnings release. The stock has averaged a 3.7% move on earnings in recent quarters.
BJ's Wholesale Club, Inc. (BJ) is confirmed to report earnings at approximately 6:45 AM ET on Thursday, August 20, 2020. The consensus earnings estimate is $0.57 per share on revenue of $3.64 billion and the Earnings Whisper ® number is $0.60 per share. Investor sentiment going into the company's earnings release has 73% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 46.15% with revenue increasing by 8.79%. Short interest has decreased by 3.2% since the company's last earnings release while the stock has drifted higher by 33.8% from its open following the earnings release to be 46.7% above its 200 day moving average of $28.27. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, August 12, 2020 there was some notable buying of 2,119 contracts of the $50.00 call expiring on Friday, September 18, 2020. Option traders are pricing in a 12.4% move on earnings and the stock has averaged a 10.0% move in recent quarters.
Space-time rippled as the Horns of Glory snapped into real space. The normally smooth transition from FTL subspace travel back to the laws of relativity was instead dangerously jarring, as the inertial dampeners struggled to hold the innards of the massive warship in their proper places. After straining mightily for the briefest of moments, they failed, throwing Admiral Halon Va and the rest of his bridge crew violently into their restraining harnesses. The ship shuddered under the immense stress, then settled, drifting silently through space on minimal power. “Tactical, get me a status report for the fleet on screen now. I want updates the instant ships jump in.” The Admiral’s voice was still firm and authoritative; it was taking every last shred of resolve he had to keep it that way. “Lieutenant Roshin, put a detail together and work with medical. I’m sure that re-entry caused more than a few extra injuries. Get as many of the crew patched up and ready for emergency action as fast as you can. I want a full casualty report as soon as possible. And if you find Science Officer Lentith and he’s still alive, send him to the bridge immediately.” Admiral Va settled back into his command chair, drawing creaking sounds from the over-stressed frame as it absorbed the weight of his massive form. The bridge was completely silent now, the command crew entirely focused on the tasks at hand. Or they were too afraid to say anything; Va couldn’t be sure. He was thankful for their silence, though. He didn’t have any answers for them about his failure. Keying in a few commands on the command panel at his station, the damage report for his ship popped up, the bridge lights flickering from the extra power draw. The Horns of Glory floated before him in hologram form. Long and slender, the ship was over two kilometers from bow to stern. At least, it had been a few hours ago. The forward 20 percent of the holographic ship was flashing red, indicating heavy damage. This was inaccurate, however, as the forward 20 percent of the ship simply wasn’t there anymore. The graceful lines and carefully crafted angles of the ship's armor were an unrecognizable slagged mess, and deep gouges had been cut into the inner decks all over the ship. Whole sections were missing amidships, two of the main reactors were offline, all the primary weapon batteries had been completely destroyed, and most of the critical systems were barely functioning. It was a miracle that she had survived the jump. That morning, Horns of Glory had been the greatest feat of Arien’Ra engineering, and it was now a barely functioning hulk. And it had all happened under my command, thought Va. He had no time to wallow in his failures, however, as at that moment tactical finally reconnected to the fleet command systems. The hologram of Horns of Glory quickly scaled down, appearing as a small, flashing, red point of light floating in loose formation with several other points of light. Most of them were flashing red as well. A constant stream of data and various reports scrolled down the right side of the hologram, listing in no uncertain terms the doom that Va had subjected his command to. If Va had thought that the bridge was quiet before, it was nothing compared to the complete stillness that now settled over them. No one so much as moved a muscle, as they all sat in stunned silence, reading the reports. Occasionally, the hologram would flash, and a new point of light would join the formation, adding more data to the pile spelling out their damnation. After 30 ticks, new points of light had stopped appearing. Admiral Halon Va had lost over 60 percent of his fleet, and not a single other dreadnaught had survived the slaughter. His defeat was total, and the Federation navy was crippled. Science Officer Beredarin Lentith had been the first member of his family not to enroll in command school in eight generations. They had been some of the finest members of the fleet the Vorqual race had ever contributed to the Federation. His brothers and sisters had all enrolled, which meant that as far as he was concerned, his family had more than fulfilled their duty to the Federation. Military life wasn’t for him, anyway; he wanted to explore. The Federation had been around for over 3000 years, and there were still vast swathes of the galaxy that they knew nothing about. They were still encountering new species every few hundred or so years, and there was nothing he wouldn’t give to find the next one. That had been the dream that directed him away from the military and into academia. The odds of actually finding a new race were so small, though. There were still at least 200,000,000 unexplored systems in the galaxy. There just wasn’t time to visit them all... He snapped out of his reverie as he stepped over the body, or rather, what was left of the body, of a Zelnassi marine. Most of it was just a green stain on the corridor wall at this point, though there had been enough of the chitinous armored torso to partially obstruct his path. The young lieutenant quickly continued on towards the bridge. If he was being honest with himself, becoming an expert on the area of unexplored space directly between the Federation and it’s largest military rival wasn’t the smartest of ideas. Between his family reputation and his unique knowledge base, he was just asking to get pressed into service. Which was exactly what had happened immediately upon the recent outbreak of hostilities. And now here he was stepping over corpses, marveling at the fact that he had somehow survived this long. He still couldn’t believe the insanity of the Dominion forces. Boarding an enemy ship MID-COMBAT. It was like something out of a youngling’s tale from before space travel. It was pure madness, but there were the bodies to prove that it had happened. He gingerly stepped around the remains of yet another Zelnassi. The signs of battle continued all the way to the bridge, where he found security forces still holding quickly fortified positions around the bridge entrance. There were more Zelnassi bodies at their feet. Berendarin shuddered. He had been closer to death than he thought. He quickly pushed those thoughts out of his mind. He could only imagine why he was needed on the bridge so urgently. The door slid open, and Lentith walked into a completely silent room. Admiral Va was slouched at his command station, his enormous arm propped up on the chair arm and supporting his massive, horned head. Lentith didn’t even know that Arien’Ra COULD slouch. Nevermind that the fastidious Admiral could or would ever do such a thing. Maybe things were somehow worse than he thought. No one seemed to notice him enter, so he announced himself to the Admiral. Though he didn’t shout, his voice echoed in the deathly silent room, startling most of the bridge command. Two of the other Vorqual officers swore, and the tiny Jezren manning the com station let out a high pitched sound somewhere between a squeak and chirp. Berendarin would have found it quite funny if the situation wasn’t so dire. Admiral Va immediately snapped back to being the hulk of muscle and horn that imposed his will on a room just by being in it. His booming voice only added to his authority. “Science Officer Lentith. I’m glad to see you’re still alive. Are you seriously injured?” Berendarin had almost forgotten that he had walked the entire way to the bridge holding a bandage to his head just above his left eye. The drop out of subspace hadn’t been kind to him. He pulled the bandage away, revealing a dark orange stain on the bandage and a crack in the bone plate above his eye. “I’m fine, sir, just one of the outer plates, and the bleeding has already stopped.” “Good. Commander Vortith is currently overseeing the emergency repairs. Take his seat. You are going to help me find a way back home.” “Sir? I’m sorry I don’t understand. Why don’t we just go back the way we came?” “That’s not possible. Most of our supply ships and tenders were destroyed when that third wave of Dominion ships hit our flank. Almost all of our pre-prepared fuel reserves are gone. On top of that, some of our ships are so damaged that they don’t have another long jump in them. And if we run into any enemy ships, the whole rest of the fleet is done for. We barely qualify as a fighting force in the state we’re in.” “Is it really that bad?” “It’s worse, but we don’t have time to get into the details. You’re the expert on this section of the galaxy. I need you to find the fleet a hiding hole. Somewhere away from the known jump routes through the Spur. Any system where we can use the few miners we have left to scavenge up some fuel, and get some critical repairs done while we’re at it. And from there either wait for reinforcements or get ourselves patched up enough to limp home. Wherever it is, it needs to be close. I’m not leaving any ships behind because they can’t make the jump.” “Oh. Just that?” The lieutenant knew that Arien’Ra were strict herbivores, but with the look that the Admiral shot him, he couldn’t help but think about the fact that his head would easily fit into that giant, molar filled mouth. “And away from any known pirate hideaways. Like I said, our fleet can’t take any more fighting. And find it quickly. It won’t be long before the Dominion fleet locates us.” “I. Uh. Sure. I’ll see what I can find.” Berendarin shrank into the commander’s chair next to the enormous Arien’Ra, desperately wishing he had been more professional. If he had acted like a proper soldier, it might soften the blow of telling the Admiral that what he wanted was next to impossible. If he had a few weeks, he might be able to find something. So much of the Spur was still un-surveyed. The odds of there being anything useful to the Admiral in the databases was absurdly low, and there was even less of a chance he’d be able to find it in time for the information to matter. He began pouring through his notes anyway. It was better than waiting around to die, which, if the situation was as dire as the Admiral made it sound, was the only other option. He spent the next hour lost in his notes, finding nothing, while the bridge crew went about piecing the ship and the fleet back together. The young scientist had all but given up on the Admiral’s impossible request when a raucous cheer went up from everyone on the command deck. “Sir,” The coms officer called out, “The Consul’s Pride just dropped out of subspace and is hailing us, sir. The main communication screen lit up, and Berendarin Lentith looked to see the face of his oldest sister on screen, strapped into the captain’s chair of her dreadnaught. He let out a sigh of relief; Baraquen was his favorite sibling. Her uniform was drenched in a deep orange blood stain at the shoulder, and she was covered in what looked like flecks of green gore from a Xelnassi. The artificial gravity was clearly malfunctioning, as the captain’s restraining harness was the only thing keeping her from floating around her bridge. But the bone plates of her jaw were turned as always into her calm, self assured smile “My apologies for the delay in joining you, Admiral Va. We had some… guests shut down our drive mid jump. We had to deal with them before we rejoined the fleet. I assume there is a plan to get us back to federation space?” “It’s good to see you in one piece, Captain Lentith,” the Admiral responded. He was barely able to keep the relief from his voice. “And there is indeed a plan.” Berendarin returned to his research as the two ranking officers in the fleet went over the details of their current predicament. He was glad his sister had survived, and not just because they were close. It would have been a terrible blow to the whole family to have lost not only their future matriarch, but the ship she commanded as well. A member of his family had been commanding that dreadnaught uninterrupted for the last 5 generations. Military service had never appealed to Berendarin, but his family history was certainly still important. And then the solution to the current problem hit him like a driver round. He let out a gasp and tore into his notes with a fervor. Both Admiral Va and his sister’s projection turned to look at him, but he didn’t notice. After a few seconds of curious silence from the rest of the onlookers, Berendarin practically jumped out of his seat. “Admiral, I think I’ve got something that will work.” The young Lieutenant punched a few commands into his datapad, and a set of stellar coordinates popped up on the navigation terminal. “It’s a main sequence star, about 500 light years from us, fairly close to the edge of the Spur. It’s not anywhere near any established jump routes. The Consul’s Pride made me think of it.” He nodded towards his sister’s face on the ship's screen. “Our great, great grandsire took the Consul’s Pride through the system on her shakedown run a little over 300 cycles ago. Chased a band of Qorthi slavers out of the system. The outer four planets are all gas giants. If we can’t find Helium 3 there, I don’t know where else we should look.” On screen, Captain Lentith looked impressed, but Admiral Va clearly didn’t seem too sure. “We’re supposed to be going away from Dominion forces, not into them. What were the Qorthi doing there?” “There are also four rocky inner worlds in the system, Sir, according to reports from the encounter. Apparently, the third planet is a Class 7 Deathworld, and the Qorthi were running some experiments on the primitive lifeforms there. They were caught completely by surprise by the Consul’s Pride, and it was the first time that she fired her weapons in anger. I can’t find any reports of Dominion ships in that section of the Spur since.” There was a long pause before Va responded. “Good work, Lieutenant. I knew my trust in you wasn’t misplaced.” Admiral Va replied, before turning to the rest of the bridge and booming “Coms! Tactical! Get those coordinates to every ship in the fleet. I want every ship we have left formed up and ready to jump as soon as possible. Any captain who feels that his drives can’t make the jump is to focus all repair efforts on getting their drives functioning immediately. I will transfer repair crews from less damaged ships to more damaged ships if that means we jump even a tick earlier. Get to it everyone. I’m not losing any more of my fleet today.” The four revolution long jump to Science Officer Lentith’s newfound sanctuary had done wonders for Halon Va’s mental state. The initial shock of his fleet's terrible defeat had worn off, and he had been able to focus on what came next. Repair crews were able to stabilize most of his ship's core systems, and he was no longer worried about the life support systems cutting out and killing the rest of his crew. There had also been time for him to visit with the wounded. To thank them for their sacrifices. He had expected it to be an act of contrition, maybe even a chance to start begging for forgiveness. But there had been no anger in his crew, and no blame hung on his horns. Most had just been relieved that he had survived, and had expressed as much. He would be forever grateful to them for that. Most importantly, the four revolutions in hyperspace had given the admiral time to really think about what had gone wrong in the nebula. He had barely rested in the preceding four revolutions, spending every scrap of spare time in his office, pouring over records from the battle. That’s where he found himself now, tucked behind his massive ceramic and titanium alloy desk of Tellarim design. It had been custom made for him upon his promotion to this command, a gift from the high admirals and the council. It was the only luxury that Va allowed in his office. The rest of Va’s space he kept strictly utilitarian. There were no trophies adorning his walls, as was customary for other members of his species. The plain bulkheads of his office were instead lined entirely with screens, and each of them were now filled with footage and reports from the battle, running on loop. Va soaked it all in. The more he watched, the more a singular conclusion crystallized in his mind. He had done everything right; he was sure of that now. 1000 years of doctrine and theory for fighting the Dominion had gone into his preparation for that battle, and he had followed it to the letter. And he had been winning. Then that attack on his flank by the Zelnassi had blown all of that out of the airlock. Something significant had changed in the way the Dominion fought... Commander Vortith’s voice rang out over the com system. ”Admiral Va, we’ll be transitioning back to real space in moments.” “Thank you. I’ll be there shortly. And get Science Officer Lentith to the bridge. I want him nearby just in case. He’s the only one who has any idea of where we are.” The Admiral pulled himself from his desk. He would have to leave the rest of his analysis for later. There was just enough time for him to reach the bridge and settle into his command chair before the Horns of Glory snapped back to real space. This time, the inertial dampeners held. “Tactical, status report.” “All ships accounted for, Admiral. Though the Consul’s Pride, several cruisers, and three of our escorts are all reporting massive failures in their Drive Cores. They won’t be jumping anywhere anytime soon.” “Wonderful.” Va wasn’t sure if he meant that sarcastically or not. “Get scans up and running and deploy the pickets that aren’t crippled in a standard scouting formation. How close are we to the nearest gas giant?” “We’re approximately half a light tick from the system’s innermost gas giant, sir.” “Excellent. Deploy the rest of the fleet. Put us in a high orbit around the planet in a defensive formation, and get our miners working immediately. Once our orbit is stable, I want every hand, paw and hoof in the fleet working on repairs.” “Yes sir.” Admiral Va settled into his command chair for a long shift. It would be a drawn out, boring process to refuel the ships. With his fleet limping along, and only two functioning miners, it would take far longer than it should. After all the chaos of the last few revolutions, boring would be a welcome change of pace. Va started to relax, sinking into his chair’s acceleration padding. His fleet and his crews were finally safe. The first priority would be to get one of the subspace beacons repaired and to get word back to the Federation that the fleet still existed. And hopefully call for aid. He was sure to be stripped of his rank as soon as contact was made, but hopefully he would avoid a Tribunal. That was an unpleasant prospect… “Sir, we have unidentified ship signatures appearing from around the planet we’re approaching.” Va had never heard panic in the voice of his young sensors officer before, but it was certainly there now. Va understood the sentiment, though. He found it difficult to keep the panic from his own voice as he started issuing orders “Bring the fleet up to combat status immediately. How many ships are there?” “I’m showing 35 individual signatures. All approaching us at combat speed and still accelerating. At current speeds, they will intercept us in just over 30 ticks, sir.” “I want details as soon as you have them, Lieutenant. Size, make, estimated firepower. Who they are. And keep scanning the system. Find out where they came from.” The panic had partially subsided for Va. 35 unknowns was not too terrible a threat. He still had almost 240 warships under his command. Still, if there was a way to avoid combat, he had to try. His fleet couldn’t suffer any more losses. “Coms, any attempt by these unknown ships to contact us?” “I”m not sure, sir,” the diminutive Jezren at the coms replied. “There’s nothing on standard communications channels. The ships are transmitting something, but I can’t figure out what it is.” “Admiral,” the Lieutenant at the sensors station called out. “I think I might have an idea of where these ships came from. Preliminary scans show there is extensive urbanization on the third and fourth planets, as well as what appear to be habitation sized artificial satellites around the second and sixth planets. One of the moons of the gas giant we’re approaching shows signs of habitation as well. All of them are emitting significant signal pollution. This system clearly already belongs to someone, and they’re broadcasting everywhere.” Halon Va, High Admiral of the Combined Federation Fleets, turned, slowly and with as much composure as he could muster, to face the young science officer seated to his left. Berendarin sat, mouth agape, staring transfixed at the sensor readouts in front of him. Va had never seen a Vorqual more confused in his life. “I want answers, Officer Lentith.” “I… I don’t.. This doesn’t make any sense,” the young science officer stammered. “There shouldn’t be anything here.” “Admiral,” The comms officer cut in, “The signal that we’re picking up from the unknown ships is definitely some kind of communication. I managed to put together audio from it.” “Play it,” commanded Va. A series of short, guttural, and completely unintelligible sounds came over the speakers in reply. There was a short pause before the sounds repeated themselves again. “Coms, what was that?” “No idea, sir, but it’s being transmitted on loop. If it is intended as a communication, our translators have no idea what to do with it.” “Admiral.” The voice came from Va’s left, and was barely audible. Va turned yet again to look at the young science officer. His gaze was locked on the tactical readout, and there something in his eyes that Va couldn’t recognize. A mixture of pure terror and something else. Was it wonder? The young Vorqual’s voice was still barely above a whisper when he continued to address the admiral: “I think we should run the transmission through First Contact Protocols.” Captain Benjamin Alvarez-León slammed against his restraining harness as the USCS Aurora started it’s decel burn. He had pushed the engines on the outdated cruiser to their limits, and the ship groaned in protest as it started counteracting his rather zealous acceleration orders. He hoped that his mad scramble with his small squadron of outdated ships had been an overreaction. The alternative was something he’d rather not think about. All Ben had was the reserves; the rest of the fleet was on maneuvers at Sirius. The Admiralty had wanted to test the new, fully modernized fleet’s maneuvering abilities in the gravwell of a binary system. And, in their infinite wisdom, they decided they needed ALL of the new fleet assets, leaving nothing in Sol except for the handful of cruisers and escorts that couldn’t match the capabilities of the modern ships. A handful of cruisers and escorts that were now hurtling towards more than 200 unknown contacts. It was the unknown part of all of this that was unnerving Ben. There were no familiar energy signatures. No familiar scan data. No IFF. No signals coming off the contacts of any kind for that matter. Two of the contacts were too big to even be ships. If it wasn’t for the fact that they were moving towards Jupiter in formation, Ben wouldn’t even think they WERE ships. “So what do you think, Alexi?” Ben asked, turning towards his second in command. “You and the rest of the bridge crew are always making inane bets. Have you whipped up an over-under for what we’re throwing ourselves at yet?” “Haven’t had time,” came the quick reply from Ben’s right. The short, stocky man from Vladivostok was missing his trademark joviality. “Though, my money is on them being Ithacan, sir.” Ben bristled at Alexi calling him sir. They’d been friends for twenty years, damnit, and had been practically joined at the hip since going through the Academy together. Outranking him still felt a little off. Now was hardly the time to worry about formalities, though. “What makes you think they're from Ithaca?” “It’s the only thing that makes sense. The locals have been getting increasingly radical, and Ithaca is the only sector where reports of piracy have been increasing.” “Yeah, I could see a rebellion coming from Ithaca,” Ben added slowly, turning over that scenario in his head. “But there’s no way they could swing something of this magnitude. There aren’t even any shipyards in the sector. And even if there were, there’s no way they could keep the construction of over two hundred ships a secret.” Alexi could only offer him a shrug in response. It was at that moment that the coms station informed him there was a transmission incoming from the unidentified ships. Ben instructed the ensign to play it, and the bridge was suddenly filled with a stream of grotesque bleating noises and strange grunts, with the occasional recognizable syllable interspersed throughout the transmission. Ben thought he picked out ‘dentify’ from the mess, but he wasn’t sure. There was a long moment of silence on the bridge. “What the hell was that?” When no one had any answers for him, Ben tapped his command console and recorded a new message to broadcast. “This is Captain Alvarez of the USCS Aurora. Unidentified ships, please clarify. Your transmission is badly garbled. We did not receive your identification. You are still trespassing in Commonwealth space and are on an unauthorized course towards Jupiter. Begin decelerating immediately and re-identify yourselves.” He wouldn’t admit it to the crew, but Ben was profoundly unsettled. Something was deeply, deeply wrong about this whole situation. Not only was he vastly outnumbered by these things, but they were unwilling to communicate properly. He was almost believing this whole thing was some kind of bizarre prank. “How much longer before we can get a decent visual on these things? “Any moment now, sir.” A new transmission arrived just then, and Ben had it played back immediately. This time, instead of almost bovine bleats and grunts, the sounds coming over the speakers were mostly intelligible. Or, they would have been, if any of the syllables were in the right order. It was almost like a toddler was rattling off all of his new favorite sounds, spitting them out in a random order and not knowing how they went together. There were still a few heavy grunts sprinkled in, just for good measure. Before Ben could process this new joke of a transmission, the contacts finally started slowing. In a matter of moments, the strange wall of contacts was hanging lazily in Jupiter’s orbit, barely moving fast enough to keep their orbit from decaying. They were still in perfect formation. “Huh. Well, I guess that’s something.” With nothing to do but sit back and wait as his ship closed the distance, Ben tried to relax and began running over all of the possibilities in his mind of what the new contacts could be. He came up with nothing. Well, nothing feasible, anyway. He took a series of long, calming breaths, trying to clear his mind and focus. This was no time for his imagination to be running wild. But he couldn’t shake the feeling that logic was failing him. Something was off. Something… “Captain, bringing visual of the unknown contacts up on screen now.” Ben actually felt his jaw drop. Every contact on his display was clearly a ship. Most were long and spindly, wrapped in layers of some kind of highly reflective armor; a fleet of crystalline arrows hanging in the darkness. The two largest contacts, which Ben had just moments ago thought were too big to be ships, were large enough on the screen for him to clearly see details. In addition to their immense size and strange armor, both ships were dotted with what were clearly weapons platforms, though what kind, Ben couldn’t tell. Noticeably, almost all of the ships on his screen were heavily damaged. Chunks were missing from some ships, and most had deep lines gouged into their hulls. Any form of decorative paint or markings had been burned away. Something had put these ships through absolute hell. But still, the damage could not take away entirely from the elegance of the ship’s designs. They were graceful and sleek, completely different from anything Ben had ever seen before. It was all so different. So strange. So very, very… Alien. Despite every effort he had made to avoid the word, it finally forced itself to form inside Ben’s mind, and forced him to acknowledge the reality that legitimate, extra-Solar life was hanging in the darkness in front of him. It forced him to acknowledge the screams he had been suppressing in the back of his mind. The screams of his imagination crying out in glorious triumph over reality. And with those screams came a deluge of accompanying thoughts and emotions. He was a child again, staring up at the stars above Armstrong and wondering what else, and who else, was out there. He was a teen again, signing his name to the Academy enrollment paperwork, determined to get out there between the stars and see the galaxy himself. He was a young officer again, screaming and pleading with the Admiralty to at least consider a modern First Contact scenario. He was sitting in his command chair now, hurtling towards honest-to-god aliens, all of his dreams made manifest in an instant. He was overwhelmed. He was terrified. And he had never imagined that he could feel such elation. It was the young warrant officer at the coms that snapped Ben out of his reverie. “Sir, the contacts are hailing us on all standard channels, requesting a video feed.” She sounded very, very nervous. Ben immediately stood up, straightening his uniform as best he could. “If they’re anything less than genocidal monsters, I’m going to offer them aid and repairs. As long as they’re peaceful, there’s no reason not to extend them the full hospitality of humanity.” “Ben,” Alexi asked, clearly choosing his words carefully, “Are you sure that’s the… Wisest course of action? How will the Admiralty respond to Goddamned alien ships docking at Hephaestus?” “Alexi, in the 250 years the Commonwealth has existed, the First Contact protocols haven’t been updated since the charter was signed. No one has cared. This has been nothing but a fantasy for most people. I am NOT letting this opportunity get away. Every child that has ever looked up at the stars and wondered finally got an answer, and I will not waste this moment. We’re making friends, the Admiralty and the government be damned.” “You do realize you’re potentially deciding the fate of our entire species on a whim, right?” “Is there someone else you’d prefer to have making this call?” Alexi, apparently deciding that there was not, stood up and straightened his uniform, standing next to his friend as he ordered the connection of the video feed. The channel connected, and the human bridge crew found themselves looking at the bridge of a ship crewed by not one, but three alien races. The largest alien in the center of the screen opened its mouth to speak. This time, instead of bleats and grunts, a choppy, mechanical voice that didn’t sync up to the alien at all proclaimed from the bridge speakers in broken, stuttering English: “I. Am Admiral. Halon. Va. Of the Federation of. Sentient Races. Greetings and. Welcome. To the. Galaxy.” Ben couldn’t suppress his smile. “On behalf of the United Solar Commonwealth, and all of Humanity, greetings, and welcome to Sol. Your ships look like they’ve had a bad time on your way here. If there’s any way we could aid with your repairs, we’d be happy to help.” Slave 782 slammed his right appendage onto the control console hard enough to rupture his outer membrane and smear ichor over the panel. It had been four days since the battle in the nebula, and with the latest round of reports, he finally had to admit that the rest of the Federation fleet had escaped him. It was a minor frustration, all things considered, but the escape prevented this from being a total victory. Still, he had proven his worth to his owners in this battle, and his experiments with the Zelnassi had paid dividends beyond his wildest imagination. He had earned a command today, and with every success in that command, his ability to bargain for his people's freedom only increased. For what he would be asking, it might take the total defeat of the Federation to earn that kind of leverage. Also frustrating, but not a task that he couldn’t handle. It would be a long war, he was sure, but like his owners, he was patient. He would earn his freedom, even if it meant reducing the entire Federation to glass. Author Wiki Series Wiki NEXT
Red Hat OpenShift Container Platform Instruction Manual for Windows Powershell
Introduction to the manual This manual is made to guide you step by step in setting up an OpenShift cloud environment on your own device. It will tell you what needs to be done, when it needs to be done, what you will be doing and why you will be doing it, all in one convenient manual that is made for Windows users. Although if you'd want to try it on Linux or MacOS we did add the commands necesary to get the CodeReady Containers to run on your operating system. Be warned however there are some system requirements that are necessary to run the CodeReady Containers that we will be using. These requirements are specified within chapter Minimum system requirements. This manual is written for everyone with an interest in the Red Hat OpenShift Container Platform and has at least a basic understanding of the command line within PowerShell on Windows. Even though it is possible to use most of the manual for Linux or MacOS we will focus on how to do this within Windows. If you follow this manual you will be able to do the following items by yourself: ● Installing the CodeReady Containers ● Updating OpenShift ● Configuring a CodeReady Container ● Configuring the DNS ● Accessing the OpenShift cluster ● Deploying the Mediawiki application What is the OpenShift Container platform? Red Hat OpenShift is a cloud development Platform as a Service (PaaS). It enables developers to develop and deploy their applications on a cloud infrastructure. It is based on the Kubernetes platform and is widely used by developers and IT operations worldwide. The OpenShift Container platform makes use of CodeReady Containers. CodeReady Containers are pre-configured containers that can be used for developing and testing purposes. There are also CodeReady Workspaces, these workspaces are used to provide any member of the development or IT team with a consistent, secure, and zero-configuration development environment. The OpenShift Container Platform is widely used because it helps the programmers and developers make their application faster because of CodeReady Containers and CodeReady Workspaces and it also allows them to test their application in the same environment. One of the advantages provided by OpenShift is the efficient container orchestration. This allows for faster container provisioning, deploying and management. It does this by streamlining and automating the automation process. What knowledge is required or recommended to proceed with the installation? To be able to follow this manual some knowledge is mandatory, because most of the commands are done within the Command Line interface it is necessary to know how it works and how you can browse through files/folders. If you either don’t have this basic knowledge or have trouble with the basic Command Line Interface commands from PowerShell, then a cheat sheet might offer some help. We recommend the following cheat sheet for windows: ● Https://www.sans.org/security-resources/sec560/windows\_command\_line\_sheet\_v1.pdf Another option is to read through the operating system’s documentation or introduction guides. Though the documentation can be overwhelming by the sheer amount of commands. ● Microsoft:https://docs.microsoft.com/en-us/windows-serveadministration/windows-commands/windows-commands ● MacOS Https://www.makeuseof.com/tag/mac-terminal-commands-cheat-sheet/ ● Linux https://ubuntu.com/tutorials/command-line-for-beginners#2-a-brief-history-lessonhttps://www.guru99.com/linux-commands-cheat-sheet.html http://cc.iiti.ac.in/docs/linuxcommands.pdf Aside from the required knowledge there are also some things that can be helpful to know just to make the use of OpenShift a bit simpler. This consists of some general knowledge on PaaS like Dockers and Kubernetes.
The minimum system requirements for the Red Hat OpenShift CodeReady Containers has the following minimum hardware: Hardware requirements Code Ready Containers requires the following system resources: ● 4 virtual CPU’s ● 9 GB of free random-access memory ● 35 GB of storage space ● Physical CPU with Hyper-V (intel) or SVM mode (AMD) this has to be enabled in the bios Software requirements The minimum system requirements for the Red Hat OpenShift CodeReady Containers has the following minimum operating system requirements: Microsoft Windows On Microsoft Windows, the Red Hat OpenShift CodeReady Containers requires the Windows 10 Pro Fall Creators Update (version 1709) or newer. CodeReady Containers does not work on earlier versions or other editions of Microsoft Windows. Microsoft Windows 10 Home Edition is not supported. macOS On macOS, the Red Hat OpenShift CodeReady Containers requires macOS 10.12 Sierra or newer. Linux On Linux, the Red Hat OpenShift CodeReady Containers is only supported on Red Hat Enterprise Linux/CentOS 7.5 or newer and on the latest two stable Fedora releases. When using Red Hat Enterprise Linux, the machine running CodeReady Containers must be registered with the Red Hat Customer Portal. Ubuntu 18.04 LTS or newer and Debian 10 or newer are not officially supported and may require manual set up of the host machine.
Required additional software packages for Linux
The CodeReady Containers on Linux require the libvirt and Network Manager packages to run. Consult the following table to find the command used to install these packages for your Linux distribution: Table 1.1 Package installation commands by distribution
To install CodeReady Containers a few steps must be undertaken. Because an OpenShift account is necessary to use the application this will be the first step. An account can be made on “https://www.openshift.com/”, where you need to press login and after that select the option “Create one now” After making an account the next step is to download the latest release of CodeReady Containers and the pulled secret on “https://cloud.redhat.com/openshift/install/crc/installer-provisioned”. Make sure to download the version corresponding to your platform and/or operating system. After downloading the right version, the contents have to be extracted from the archive to a location in your $PATH. The pulled secret should be saved because it is needed later. The command line interface has to be opened before we can continue with the installation. For windows we will use PowerShell. All the commands we use during the installation procedure of this guide are going to be done in this command line interface unless stated otherwise. To be able to run the commands within the command line interface, use the command line interface to go to the location in your $PATH where you extracted the CodeReady zip. If you have installed an outdated version and you wish to update, then you can delete the existing CodeReady Containers virtual machine with the $crc deletecommand. After deleting the container, you must replace the old crc binary with a newly downloaded binary of the latest release.
When you have done the previous steps please confirm that the correct and up to date crc binary is in use by checking it with the $crc version command, this should provide you with the version that is currently installed.
To set up the host operating system for the CodeReady Containers virtual machine you have to run the $crc setup command. After running crc setup, crc start will create a minimal OpenShift 4 cluster in the folder where the executable is located.
Setting up CodeReady Containers
Now we need to set up the new CodeReady Containers release with the $crc setup command. This command will perform the operations necessary to run the CodeReady Containers and create the ~/.crc directory if it did not previously exist. In the process you have to supply your pulled secret, once this process is completed you have to reboot your system. When the system has restarted you can start the new CodeReady Containers virtual machine with the $crc start command. The $crc start command starts the CodeReady virtual machine and OpenShift cluster. You cannot change the configuration of an existing CodeReady Containers virtual machine. So if you have a CodeReady Containers virtual machine and you want to make configuration changes you need to delete the virtual machine with the $crc deletecommand and create a new virtual machine and start that one with the configuration changes. Take note that deleting the virtual machine will also delete the data stored in the CodeReady Containers. So, to prevent data loss we recommend you save the data you wish to keep. Also keep in mind that it is not necessary to change the default configuration to start OpenShift.
Before starting the machine, you need to keep in mind that it is not possible to make any changes to the virtual machine. For this tutorial however it is not necessary to change the configuration, if you don’t want to make any changes please continue by starting the machine with the crc start command.
\ it is possible that you will get a Nameserver error later on, if this is the case please start it with* crc start -n 18.104.22.168
It is not is not necessary to change the default configuration and continue with this tutorial, this chapter is here for those that wish to do so and know what they are doing. However, for MacOS and Linux it is necessary to change the dns settings.
Configuring the CodeReady Containers
To start the configuration of the CodeReady Containers use the command crc config. This command allows you to configure the crc binary and the CodeReady virtual machine. The command has some requirements before it’s able to configure. This requirement is a subcommand, the available subcommands for this binary and virtual machine are: ● get, this command allows you to see the values of a configurable property ● set/unset, this command can be used for 2 things. To display the names of, or to set and/or unset values of several options and parameters. These parameters being: ○ Shell options ○ Shell attributes ○ Positional parameters ● view, this command starts the configuration in read-only mode. These commands need to operate on named configurable properties. To list all the available properties, you can run the command $crc config --help. Throughout this manual we will use the $crc config command a few times to change some properties needed for the configuration. There is also the possibility to use the crc config command to configure the behavior of the checks that’s done by the $crc start end $crc setup commands. By default, the startup checks will stop with the process if their conditions are not met. To bypass this potential issue, you can set the value of a property that starts with skip-check or warn-check to true to skip the check or warning instead of ending up with an error.
C:\Users\[username]\$PATH>crc config get C:\Users\[username]\$PATH>crc config set C:\Users\[username]\$PATH>crc config unset C:\Users\[username]\$PATH>crc config view C:\Users\[username]\$PATH>crc config --help
Configuring the Virtual Machine
You can use the CPUs and memory properties to configure the default number of vCPU’s and amount of memory available for the virtual machine. To increase the number of vCPU’s available to the virtual machine use the $crc config set CPUs . Keep in mind that the default number for the CPU’s is 4 and the number of vCPU’s you wish to assign must be equal or greater than the default value. To increase the memory available to the virtual machine, use the $crc config set memory . Keep in mind that the default number for the memory is 9216 Mebibytes and the amount of memory you wish to assign must be equal or greater than the default value.
C:\Users\[username]\$PATH>crc config set CPUs C:\Users\[username]\$PATH>crc config set memory >
Configuring the DNS
Window / General DNS setup
There are two domain names used by the OpenShift cluster that are managed by the CodeReady Containers, these are: ● crc.testing, this is the domain for the core OpenShift services. ● apps-crc.testing, this is the domain used for accessing OpenShift applications that are deployed on the cluster. Configuring the DNS settings in Windows is done by executing the crc setup. This command automatically adjusts the DNS configuration on the system. When executing crc start additional checks to verify the configuration will be executed.
macOS DNS setup
MacOS expects the following DNS configuration for the CodeReady Containers ● The CodeReady Containers creates a file that instructs the macOS to forward all DNS requests for the testing domain to the CodeReady Containers virtual machine. This file is created at /etc/resolvetesting. ● The oc binary requires the following CodeReady Containers entry to function properly, api.crc.testing adds an entry to /etc/hosts pointing at the VM IPaddress.
Linux DNS setup
CodeReady containers expect a slightly different DNS configuration. CodeReady Container expects the NetworkManager to manage networking. On Linux the NetworkManager uses dnsmasq through a configuration file, namely /etc/NetworkManageconf.d/crc-nm-dnsmasq.conf. To set it up properly the dnsmasq instance has to forward the requests for crc.testing and apps-crc.testing domains to “192.168.130.11”. In the /etc/NetworkManageconf.d/crc-nm-dnsmasq.conf this will look like the following: ● Server=/crc. Testing/192.168.130.11 ● Server=/apps-crc. Testing/192.168.130.11
Accessing the Openshift Cluster
Accessing the Openshift web console
To gain access to the OpenShift cluster running in the CodeReady virtual machine you need to make sure that the virtual machine is running before continuing with this chapter. The OpenShift clusters can be accessed through the OpenShift web console or the client binary(oc). First you need to execute the $crc console command, this command will open your web browser and direct a tab to the web console. After that, you need to select the htpasswd_provider option in the OpenShift web console and log in as a developer user with the output provided by the crc start command. It is also possible to view the password for kubeadmin and developer users by running the $crc console --credentials command. While you can access the cluster through the kubeadmin and developer users, it should be noted that the kubeadmin user should only be used for administrative tasks such as user management and the developer user for creating projects or OpenShift applications and the deployment of these applications.
To gain access to the OpenShift cluster with the use of the oc command you need to complete several steps. Step 1. Execute the $crc oc-env command to print the command needed to add the cached oc binary to your PATH:
Step 2. Execute the printed command. The output will look something like the following:
PS C:\Users\OpenShift> crc oc-env $Env:PATH = "CC:\Users\OpenShift\.crc\bin\oc;$Env:PATH" # Run this command to configure your shell: # & crc oc-env | Invoke-Expression
This means we have to execute* the command that the output gives us, in this case that is:
\this has to be executed every time you start; a solution is to move the oc binary to the same path as the crc binary* To test if this step went correctly execute the following command, if it returns without errors oc is set up properly
Step 3 Now you need to login as a developer user, this can be done using the following command: $oc login -u developerhttps://api.crc.testing:6443 Keep in mind that the $crc start will provide you with the password that is needed to login with the developer user.
Step 4 The oc can now be used to interact with your OpenShift cluster. If you for instance want to verify if the OpenShift cluster Operators are available, you can execute the command
$oc get co
Keep in mind that by default the CodeReady Containers disables the functions provided by the commands $machine-config and $monitoringOperators.
C:\Users\[username]\$PATH>oc get co
Now that you are able to access the cluster, we will take you on a tour through some of the possibilities within OpenShift Container Platform. We will start by creating a project. Within this project we will import an image, and with this image we are going to build an application. After building the application we will explain how upscaling and downscaling can be used within the created application. As the next step we will show the user how to make changes in the network route. We also show how monitoring can be used within the platform, however within the current version of CodeReady Containers this has been disabled. Lastly, we will show the user how to use user management within the platform.
In OpenShift there is a feature called autoscaling. There are two types of application scaling, namely vertical scaling, and horizontal scaling. Vertical scaling is adding only more CPU and hard disk and is no longer supported by OpenShift. Horizontal scaling is increasing the number of machines. One of the ways to scale an application is by increasing the number of pods. This can be done by going to a pod within the view as seen in the previous step. By either pressing the up or down arrow more pods of the same application can be added. This is similar to horizontal scaling and can result in better performance when there are a lot of active users at the same time. https://preview.redd.it/s6i1vbcrltv51.png?width=602&format=png&auto=webp&s=e62cbeeed116ba8c55704d61a990fc0d8f3cfaa1 In the picture above we see the number of nodes and pods and how many resources those nodes and pods are using. This is something to keep in mind if you want to scale up your application, the more you scale it up, the more resources it will take up. https://preview.redd.it/quh037wmitv51.png?width=194&format=png&auto=webp&s=5e326647b223f3918c259b1602afa1b5fbbeea94
It is however important to know how to manually reclaim the persistent volumes, since if you delete PV the associated data will not be automatically deleted with it and therefore you cannot reassign the storage to another PV yet. To manually reclaim the PV, you need to follow the following steps: Step 1: Delete the PV, this can be done by executing the following command
Step 2: Now you need to clean up the data on the associated storage asset Step 3: Now you can delete the associated storage asset or if you with to reuse the same storage asset you can now create a PV with the storage asset definition. It is also possible to directly change the reclaim policy within OpenShift, to do this you would need to follow the following steps: Step 1: Get a list of the PVs in your cluster
$oc get pv
This will give you a list of all the PV’s in your cluster and will display their following attributes: Name, Capacity, Accesmodes, Reclaimpolicy, Statusclaim, Storageclass, Reason and Age. Step 2: Now choose the PV you wish to change and execute one of the following command’s, depending on your preferred policy:
According to the documentation of OpenShift is a user, an entity that interacts with the OpenShift Container Platform API. These can be a developer for developing applications or an administrator for managing the cluster. Users can be assigned to groups, which set the permissions applied to all the group’s members. For example, you can give API access to a group, which gives all members of the group API access. There are multiple ways to create a user depending on the configured identity provider. The DenyAll identity provider is the default within OpenShift Container Platform. This default denies access for all the usernames and passwords. First, we’re going to create a new user, the way this is done depends on the identity provider, this depends on the mapping method used as part of the identity provider configuration. for more information on what mapping methods are and how they function: https://docs.openshift.com/enterprise/3.1/install_config/configuring_authentication.html With the default mapping method, the steps will be as following
$oc create user
Next up, we’ll create an OpenShift Container Platform Identity. Use the name of the identity provider and the name that uniquely represents this identity in the scope of the identity provider:
$oc create identity :
The is the name of the identity provider in the master configuration. For example, the following commands create an Identity with identity provider ldap_provider and the identity provider username mediawiki_s.
$oc create identity ldap_provider:mediawiki_s
Create a useidentity mapping for the created user and identity:
$oc create useridentitymapping :
For example, the following command maps the identity to the user:
There is a --clusterrole option that can be used to give the user a specific role, like a cluster user with admin privileges. The cluster admin has access to all files and is able to manage the access level of other users. Below is an example of the admin clusterrole command:
If you followed all the steps within this manual you now should have a functioning Mediawiki Application running on your own CodeReady Containers. During the installation of this application on CodeReady Containers you have learned how to do the following things: ● Installing the CodeReady Containers ● Updating OpenShift ● Configuring a CodeReady Container ● Configuring the DNS ● Accessing the OpenShift cluster ● Deploying an application ● Creating new users With these skills you’ll be able to set up your own Container Platform environment and host applications of your choosing.
Nameserver There is the possibility that your CodeReady container can't connect to the internet due to a Nameserver error. When this is encountered a working fix for us was to stop the machine and then start the CRC machine with the following command:
C:\Users\[username]\$PATH>crc start -n 22.214.171.124
Hyper-V admin Should you run into a problem with Hyper-V it might be because your user is not an admin and therefore can’t access the Hyper-V admin user group.
Click Start > Control Panel > Administration Tools > Computer Management. The Computer Management window opens.
Click System Tools > Local Users and Groups > Groups. The list of groups opens.
Double-click the Hyper-V Administrators group. The Hyper-V Administrators Properties window opens.
Click Add. The Select Users or Groups window opens.
In the Enter the object names to select field, enter the user account name to whom you want to assign permissions, and then click OK.
Click Apply, and then click OK.
Terms and definitions
These terms and definitions will be expanded upon, below you can see an example of how this is going to look like together with a few terms that will require definitions. ● Kubernetes is an open-source system for automating deployment, scaling, and management of containerized applications. Openshift is based on Kubernetes. ● Clusters are a collection of multiple nodes which communicate with each other to perform a set of operations. ● Containers are the basic units of OpenShift applications. These container technologies are lightweight mechanisms for isolating running processes so that they are limited to interacting with only their designated resources. ● CodeReady Container is a minimal, preconfigured cluster that is used for development and testing purposes. ● CodeReady Workspaces uses Kubernetes and containers to provide any member of the development or IT team with a consistent, secure, and zero-configuration development environment.
Wall Street Week Ahead for the trading week beginning June 29th, 2020
Good Saturday afternoon to all of you here on StockMarket. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week ahead. Here is everything you need to know to get you ready for the trading week beginning June 29th, 2020.
Fragile economic recovery faces first big test with June jobs report in the week ahead - (Source)
The second half of 2020 is nearly here, and now it’s up to the economy to prove that the stock market was right about a sharp comeback in growth. The first big test will be the June jobs report, out on Thursday instead of its usual Friday release due to the July 4 holiday. According to Refinitiv, economists expect 3 million jobs were created, after May’s surprise gain of 2.5 million payrolls beat forecasts by a whopping 10 million jobs. “If it’s stronger, it will suggest that the improvement is quicker, and that’s kind of what we saw in May with better retail sales, confidence was coming back a little and auto sales were better,” said Kevin Cummins, chief U.S. economist at NatWest Markets. The second quarter winds down in the week ahead as investors are hopeful about the recovery but warily eyeing rising cases of Covid-19 in a number of states. Stocks were lower for the week, as markets reacted to rising cases in Texas, Florida and other states. Investors worry about the threat to the economic rebound as those states move to curb some activities. The S&P 500 is up more than 16% so far for the second quarter, and it is down nearly 7% for the year. Friday’s losses wiped out the last of the index’s June gains. “I think the stock market is looking beyond the valley. It is expecting a V-shaped economic recovery and a solid 2021 earnings picture,” said Sam Stovall, chief investment strategist at CFRA. He expects large-cap company earnings to be up 30% next year, and small-cap profits to bounce back by 140%. “I think the second half needs to be a ‘show me’ period, proving that our optimism was justified, and we’ll need to see continued improvement in the economic data, and I think we need to see upward revisions to earnings estimates,” Stovall said. Liz Ann Sonders, chief investment strategist at Charles Schwab, said she expects the recovery will not be as smooth as some expect, particularly considering the resurgence of virus outbreaks in sunbelt states and California. “Now as I watch what’s happening I think it’s more likely to be rolling Ws,” rather than a V, she said. “It’s not just predicated on a second wave. I’m not sure we ever exited the first wave.” Even without actual state shutdowns, the virus could slow economic activity. “That doesn’t mean businesses won’t shut themselves down, or consumers won’t back down more,” she said.
In the second half of the year, the market should turn its attention to the election, but Sonders does not expect much reaction to it until after Labor Day. RealClearPolitics average of polls shows Democrat Joe Biden leading President Donald Trump by 10 percentage points, and the odds of a Democratic sweep have been rising. Biden has said he would raise corporate taxes, and some strategists say a sweep would be bad for business, due to increased regulation and higher taxes. Trump is expected to continue using tariffs, which unsettles the market, though both candidates are expected to take a tough stance on China. “If it looks like the Senate stays Republican than there’s less to worry about in terms of policy changes,” Sonders said. “I don’t think it’s ever as binary as some people think.” Stovall said a quick study shows that in the four presidential election years back to 1960, where the first quarter was negative, and the second quarter positive, stocks made gains in the second half. Those were 1960 when John Kennedy took office, 1968, when Richard Nixon won; 1980 when Ronald Reagan’s was elected to his first term; and 1992, the first win by Bill Clinton. Coincidentally, in all of those years, the opposing party gained control of the White House.
The stocks market’s strong second-quarter showing came after the Fed and Congress moved quickly to inject the economy with trillions in stimulus. That unlocked credit markets and triggered a stampede by companies to restructure or issue debt. About $2 trillion in fiscal spending was aimed at consumers and businesses, who were in sudden need of cash after the abrupt shutdown of the economy. Fed Chairman Jerome Powell and Treasury Secretary Steven Mnuchin both testify before the House Financial Services Committee Tuesday on the response to the virus. That will be important as markets look ahead to another fiscal package from Congress this summer, which is expected to provide aid to states and local governments; extend some enhanced benefits for unemployment, and provide more support for businesses. “So much of it is still so fluid. There are a bunch of fiscal items that are rolling off. There’s talk about another fiscal stimulus payment like they did last time with a $1,200 check,” said Cummins. Strategists expect Congress to bicker about the size and content of the stimulus package but ultimately come to an agreement before enhanced unemployment benefits run out at the end of July. Cummins said state budgets begin a new year July 1, and states with a critical need for funds may have to start letting workers go, as they cut expenses. The Trump administration has indicated the jobs report Thursday could help shape the fiscal package, depending on what it shows. The federal supplement to state unemployment benefits has been $600 a week, but there is opposition to extending that, and strategists expect it to be at least cut in half. The unemployment rate is expected to fall to 12.2% from 13.3% in May. Cummins said he had expected 7.2 million jobs, well above the consensus, and an unemployment rate of 11.8%. As of last week, nearly 20 million people were collecting state unemployment benefits, and millions more were collecting under a federal pandemic aid program. “The magnitude here and whether it’s 3 million or 7 million is kind of hard to handicap to begin with,” Cummins said. Economists have preferred to look at unemployment claims as a better real time read of employment, but they now say those numbers could be impacted by slow reporting or double filing. “There’s no clarity on how you define the unemployed in the Covid 19 environment,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “If there’s 30 million people receiving insurance, unemployment should be above 20%.
This past week saw the following moves in the S&P:
The economy is moving in the right direction, as many economic data points are coming in substantially better than what the economists expected. From May job gains coming in more than 10 million higher than expected and retail sales soaring a record 18%, how quickly the economy is bouncing back has surprised nearly everyone. “As good as the recent economic data has been, we want to make it clear, it could still take years for the economy to fully come back,” explained LPL Financial Senior Market Strategist Ryan Detrick. “Think of it like building a house. You get all the big stuff done early, then some of the small things take so much longer to finish; I’m looking at you crown molding.” Here’s the hard truth; it might take years for all of the jobs that were lost to fully recover. In fact, during the 10 recessions since 1950, it took an average of 30 months for lost jobs to finally come back. As the LPL Chart of the Day shows, recoveries have taken much longer lately. In fact, it took four years for the jobs lost during the tech bubble recession of the early 2000s to come back and more than six years for all the jobs lost to come back after the Great Recession. Given many more jobs were lost during this recession, it could takes many years before all of them indeed come back.
The economy is going the right direction, and if there is no major second wave outbreak it could surprise to the upside. Importantly, this economic recovery will still be a long and bumpy road.
Nasdaq - Russell Spread Pulling the Rubber Band Tight
The Nasdaq has been outperforming every other US-based equity index over the last year, and nowhere has the disparity been wider than with small caps. The chart below compares the performance of the Nasdaq and Russell 2000 over the last 12 months. While the performance disparity is wide now, through last summer, the two indices were tracking each other nearly step for step. Then last fall, the Nasdaq started to steadily pull ahead before really separating itself in the bounce off the March lows. Just to illustrate how wide the gap between the two indices has become, over the last six months, the Nasdaq is up 11.9% compared to a decline of 15.8% for the Russell 2000. That's wide!
In order to put the recent performance disparity between the two indices into perspective, the chart below shows the rolling six-month performance spread between the two indices going back to 1980. With a current spread of 27.7 percentage points, the gap between the two indices hasn't been this wide since the days of the dot-com boom. Back in February 2000, the spread between the two indices widened out to more than 50 percentage points. Not only was that period extreme, but ten months before that extreme reading, the spread also widened out to more than 51 percentage points. The current spread is wide, but with two separate periods in 1999 and 2000 where the performance gap between the two indices was nearly double the current level, that was a period where the Nasdaq REALLY outperformed small caps.
To illustrate the magnitude of the Nasdaq's outperformance over the Russell 2000 from late 1998 through early 2000, the chart below shows the performance of the two indices beginning in October 1998. From that point right on through March of 2000 when the Nasdaq peaked, the Nasdaq rallied more than 200% compared to the Russell 2000 which was up a relatively meager 64%. In any other environment, a 64% gain in less than a year and a half would be excellent, but when it was under the shadow of the surging Nasdaq, it seemed like a pittance.
The US equity market made its most recent peak on June 8th. From the March 23rd low through June 8th, the average stock in the large-cap Russell 1,000 was up more than 65%! Since June 8th, the average stock in the index is down more than 11%. Below we have broken the index into deciles (10 groups of 100 stocks each) based on simple share price as of June 8th. Decile 1 (marked "Highest" in the chart) contains the 10% of stocks with the highest share prices. Decile 10 (marked "Lowest" in the chart) contains the 10% of stocks with the lowest share prices. As shown, the highest priced decile of stocks are down an average of just 4.8% since June 8th, while the lowest priced decile of stocks are down an average of 21.5%. It's pretty remarkable how performance gets weaker and weaker the lower the share price gets.
It's hard to believe that sentiment can change so fast in the market that one day investors and traders are bidding up stocks to record highs, but then the next day sell them so much that it takes the market down over 2%. That's exactly what happened not only in the last two days but also two weeks ago. While the 5% pullback from a record high back on June 10th took the Nasdaq back below its February high, this time around, the Nasdaq has been able to hold above those February highs.
In the entire history of the Nasdaq, there have only been 12 periods prior to this week where the Nasdaq closed at an all-time high on one day but dropped more than 2% the next day. Those occurrences are highlighted in the table below along with the index's performance over the following week, month, three months, six months, and one year. We have also highlighted each occurrence that followed a prior one by less than three months in gray. What immediately stands out in the table is how much gray shading there is. In other words, these types of events tend to happen in bunches, and if you count the original occurrence in each of the bunches, the only two occurrences that didn't come within three months of another occurrence (either before or after) were July 1986 and May 2017. In terms of market performance following prior occurrences, the Nasdaq's average and median returns were generally below average, but there is a pretty big caveat. While the average one-year performance was a gain of 1.0% and a decline of 23.6% on a median basis, the six occurrences that came between December 1999 and March 2000 all essentially cover the same period (which was very bad) and skew the results. Likewise, the three occurrences in the two-month stretch from late November 1998 through January 1999 where the Nasdaq saw strong gains also involves a degree of double-counting. As a result of these performances at either end of the extreme, it's hard to draw any trends from the prior occurrences except to say that they are typically followed by big moves in either direction. The only time the Nasdaq wasn't either 20% higher or lower one year later was in 1986.
In the mid-1980s the market began to evolve into a tech-driven market and the market’s focus in early summer shifted to the outlook for second quarter earnings of technology companies. Over the last three trading days of June and the first nine trading days in July, NASDAQ typically enjoys a rally. This 12-day run has been up 27 of the past 35 years with an average historical gain of 2.5%. This year the rally may have begun a day early, today and could last until on or around July 14. After the bursting of the tech bubble in 2000, NASDAQ’s mid-year rally had a spotty track record from 2002 until 2009 with three appearances and five no-shows in those years. However, it has been quite solid over the last ten years, up nine times with a single mild 0.1% loss in 2015. Last year, NASDAQ advanced a solid 4.6% during the 12-day span.
Tech Historically Leads Market Higher Until Q3 of Election Years
As of yesterday’s close DJIA was down 8.8% year-to-date. S&P 500 was down 3.5% and NASDAQ was up 12.1%. Compared to the typical election year, DJIA and S&P 500 are below historical average performance while NASDAQ is above average. However this year has not been a typical election year. Due to the covid-19, the market suffered the damage of the shortest bear market on record and a new bull market all before the first half of the year has come to an end. In the surrounding Seasonal Patten Charts of DJIA, S&P 500 and NASDAQ, we compare 2020 (as of yesterday’s close) to All Years and Election Years. This year’s performance has been plotted on the right vertical axis in each chart. This year certainly has been unlike any other however some notable observations can be made. For DJIA and S&P 500, January, February and approximately half of March have historically been weak, on average, in election years. This year the bear market ended on March 23. Following those past weak starts, DJIA and S&P 500 historically enjoyed strength lasting into September before experiencing any significant pullback followed by a nice yearend rally. NASDAQ’s election year pattern differs somewhat with six fewer years of data, but it does hint to a possible late Q3 peak.
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Micron Technology, Inc. $48.49
Micron Technology, Inc. (MU) is confirmed to report earnings at approximately 4:00 PM ET on Monday, June 29, 2020. The consensus earnings estimate is $0.71 per share on revenue of $5.27 billion and the Earnings Whisper ® number is $0.70 per share. Investor sentiment going into the company's earnings release has 71% expecting an earnings beat The company's guidance was for earnings of $0.40 to $0.70 per share. Consensus estimates are for earnings to decline year-over-year by 29.00% with revenue increasing by 10.07%. Short interest has increased by 7.6% since the company's last earnings release while the stock has drifted higher by 8.0% from its open following the earnings release to be 0.9% below its 200 day moving average of $48.94. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, June 11, 2020 there was some notable buying of 46,037 contracts of the $60.00 call expiring on Friday, July 17, 2020. Option traders are pricing in a 4.6% move on earnings and the stock has averaged a 8.4% move in recent quarters.
General Mills, Inc. (GIS) is confirmed to report earnings at approximately 7:00 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $1.04 per share on revenue of $4.89 billion and the Earnings Whisper ® number is $1.10 per share. Investor sentiment going into the company's earnings release has 69% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 25.30% with revenue increasing by 17.50%. Short interest has decreased by 9.4% since the company's last earnings release while the stock has drifted higher by 2.7% from its open following the earnings release to be 7.8% above its 200 day moving average of $54.91. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, June 24, 2020 there was some notable buying of 8,573 contracts of the $60.00 call expiring on Friday, July 17, 2020. Option traders are pricing in a 6.6% move on earnings and the stock has averaged a 3.0% move in recent quarters.
FedEx Corp. (FDX) is confirmed to report earnings at approximately 4:00 PM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $1.42 per share on revenue of $16.31 billion and the Earnings Whisper ® number is $1.65 per share. Investor sentiment going into the company's earnings release has 61% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 71.66% with revenue decreasing by 8.41%. Short interest has increased by 10.4% since the company's last earnings release while the stock has drifted higher by 43.9% from its open following the earnings release to be 7.6% below its 200 day moving average of $140.75. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, June 25, 2020 there was some notable buying of 1,768 contracts of the $145.00 call expiring on Thursday, July 2, 2020. Option traders are pricing in a 4.6% move on earnings and the stock has averaged a 7.7% move in recent quarters.
Conagra Brands, Inc. (CAG) is confirmed to report earnings at approximately 7:30 AM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $0.66 per share on revenue of $3.24 billion and the Earnings Whisper ® number is $0.69 per share. Investor sentiment going into the company's earnings release has 66% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 83.33% with revenue increasing by 23.99%. Short interest has decreased by 38.3% since the company's last earnings release while the stock has drifted higher by 6.3% from its open following the earnings release to be 6.4% above its 200 day moving average of $30.68. Overall earnings estimates have been revised higher since the company's last earnings release. On Thursday, June 11, 2020 there was some notable buying of 3,239 contracts of the $29.00 put expiring on Thursday, July 2, 2020. Option traders are pricing in a 4.7% move on earnings and the stock has averaged a 10.8% move in recent quarters.
Constellation Brands, Inc. (STZ) is confirmed to report earnings at approximately 7:30 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $1.91 per share on revenue of $1.97 billion and the Earnings Whisper ® number is $2.12 per share. Investor sentiment going into the company's earnings release has 53% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 13.57% with revenue decreasing by 13.69%. Short interest has increased by 20.8% since the company's last earnings release while the stock has drifted higher by 25.2% from its open following the earnings release to be 5.2% below its 200 day moving average of $178.34. Overall earnings estimates have been revised lower since the company's last earnings release. On Tuesday, June 9, 2020 there was some notable buying of 888 contracts of the $195.00 call expiring on Friday, October 16, 2020. Option traders are pricing in a 3.1% move on earnings and the stock has averaged a 5.7% move in recent quarters.
Capri Holdings Limited (CPRI) is confirmed to report earnings at approximately 6:30 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $0.32 per share on revenue of $1.18 billion and the Earnings Whisper ® number is $0.34 per share. Investor sentiment going into the company's earnings release has 39% expecting an earnings beat The company's guidance was for earnings of $0.68 to $0.73 per share. Consensus estimates are for earnings to decline year-over-year by 49.21% with revenue decreasing by 12.20%. Short interest has increased by 35.1% since the company's last earnings release while the stock has drifted lower by 56.7% from its open following the earnings release to be 44.0% below its 200 day moving average of $25.67. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, June 4, 2020 there was some notable buying of 11,042 contracts of the $17.50 put expiring on Friday, August 21, 2020. Option traders are pricing in a 10.8% move on earnings and the stock has averaged a 6.7% move in recent quarters.
X Financial (XYF) is confirmed to report earnings at approximately 5:00 PM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $0.09 per share. Investor sentiment going into the company's earnings release has 25% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 55.00% with revenue increasing by 763.52%. Short interest has increased by 1.0% since the company's last earnings release while the stock has drifted lower by 1.2% from its open following the earnings release to be 37.7% below its 200 day moving average of $1.47. Overall earnings estimates have been unchanged since the company's last earnings release. The stock has averaged a 4.9% move on earnings in recent quarters.
Acuity Brands, Inc. (AYI) is confirmed to report earnings at approximately 8:40 AM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $1.14 per share on revenue of $809.25 million and the Earnings Whisper ® number is $1.09 per share. Investor sentiment going into the company's earnings release has 42% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 51.90% with revenue decreasing by 14.60%. Short interest has increased by 48.5% since the company's last earnings release while the stock has drifted higher by 2.4% from its open following the earnings release to be 23.4% below its 200 day moving average of $110.25. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 9.2% move on earnings and the stock has averaged a 8.2% move in recent quarters.
Methode Electronics, Inc. (MEI) is confirmed to report earnings at approximately 7:00 AM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $0.77 per share on revenue of $211.39 million. Investor sentiment going into the company's earnings release has 45% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 24.19% with revenue decreasing by 20.53%. Short interest has increased by 6.2% since the company's last earnings release while the stock has drifted lower by 1.7% from its open following the earnings release to be 9.0% below its 200 day moving average of $32.97. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 18.4% move on earnings and the stock has averaged a 8.1% move in recent quarters.
UniFirst Corporation (UNF) is confirmed to report earnings at approximately 8:00 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $1.17 per share on revenue of $378.28 million and the Earnings Whisper ® number is $1.25 per share. Investor sentiment going into the company's earnings release has 44% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 52.44% with revenue decreasing by 16.63%. Short interest has decreased by 2.7% since the company's last earnings release while the stock has drifted higher by 14.1% from its open following the earnings release to be 8.4% below its 200 day moving average of $186.14. Overall earnings estimates have been revised lower since the company's last earnings release. The stock has averaged a 7.0% move on earnings in recent quarters.
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