9/5/23 Winners and Losers


On Friday, we got the latest employment data.

  • The unemployment rate rose to 3.8% from 3.5%
  • 187,000 new jobs were added, a modest increase
Image from iStock

So why did the unemployment rate go up? The main driver was 597,000 new job seekers entering the market.

Markets rose immediately after the release. But much of the early gains were given up.

The indexes settled mixed and mostly near flat…

  • Dow Jones +0.3%
  • Nasdaq -0.0% 
  • S&P 500 +0.2%
  • Russell 2000 +1.1%

Sector Round Up

The sectors were split. 6 of 11 end the day higher.

At the top…

  • Energy (XLE) +2.1%
  • Materials (XLB) +1.1%
  • Financials (XLF) +0.9%

At the bottom…

  • Consumer Discretionary (XLY) -0.6%
  • Consumer Staples (XLP) -0.9%
  • Communications (XLC) -0.9%

The rise in energy stocks was on the back of an increase in crude oil prices. Crude Oil futures rose more than 7% last week.

Don’t Doubt Dell

Shares of Dell Technologies (DELL) rose 21% during Friday’s session to close at a new all-time high.

Image from Dell
  • The company bested Wall Street estimates on its latest earnings report
  • Gains were ”driven by higher demand for AI-optimized servers
  • “At least 10 analysts raised their target prices” for DELL
  • The company added $8.6 billion in market cap, the most ever in a single day
  • Dell’s share price is up 70% year-to-date


The VIX ended Friday’s session at its second-lowest reading in 3 years.

VIX Daily Candle – Chart by thinkorswim

Anything below 16 is historically bullish. 

Futures are lower this morning, but we are not reading too much into it.

Your latest readout…


September is historically a weak time for stocks.

But the fact that the market is picking winners despite the seasonal weakness suggests the market is poised to go on a tear once the season turns.

Given nothing else changes in the coming months.


*Low Float
^Open Position

*HOLO support at $8
*TSAT support at $18
CAL support at $28
PFIE support at $2.60
BLRX support at $1.80
REKR support at $3.50, resistance at $4
ESTE support at $20
MAPS support at $1.40 / $1.50
TIGR support at $4.50

Secondary watchlist—float 100+ million

TSHA support at $3
^IOT support at $30

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