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GE2020: The Roar of the Swing Voter

Hi everyone, this is my first ever post here.
I run a little website called The Thought Experiment where I talk about various issues, some of them Singapore related. And one of my main interests is Singaporean politics. With the GE2020 election results, I thought I should pen down my take on what us as the electorate were trying to say.
If you like what I wrote, I also wrote another article on the state of play for GE2020 during the campaigning period, as well as 2 other articles related to GE2015 back when it was taking place.
If you don't like what I wrote, that's ok! I think the beauty of freedom of expression is that everyone is entitled to their opinion. I'm always happy to get feedback, because I do think that more public discourse about our local politics helps us to be more politically aware as a whole.
Just thought I'll share my article here to see what you guys make of it :D
Article Starts Here:
During the campaigning period, both sides sought to portray an extreme scenario of what would happen if voters did not vote for them. The Peoples’ Action Party (PAP) warned that Singaporeans that their political opponents “might eventually replace the government after July 10”. Meanwhile, the Worker’s Party (WP) stated that “there was a real risk of a wipeout of elected opposition MPs at the July 10 polls”.
Today is July 11th. As we all know, neither of these scenarios came to pass. The PAP comfortably retained its super-majority in Parliament, winning 83 out of 93 elected MP seats. But just as in GE2011, another Group Representation Constituency (GRC) has fallen to the WP. In addition, the PAP saw its vote share drop drastically, down almost 9% to 61.2% from 69.9% in GE2015.
Singapore’s electorate is unique in that a significant proportion is comprised of swing voters: Voters who don’t hold any blind allegiance to any political party, but vote based on a variety of factors both micro and macro. The above extreme scenarios were clearly targeted at these swing voters. Well, the swing voters have made their choice, their roar sending 4 more elected opposition MPs into Parliament. This article aims to unpack that roar and what it means for the state of Singaporean politics going forward.
1. The PAP is still the preferred party to form Singapore’s Government
Yes, this may come across as blindingly obvious, but it still needs to be said. The swing voter is by its very definition, liable to changes of opinion. And a large factor that determines how a swing voter votes is their perception of how their fellow swing voters are voting. If swing voters perceive that most swing voters are leaning towards voting for the opposition, they might feel compelled to vote for the incumbent. And if the reverse is true, swing voters might feel the need to shore up opposition support.
Why is this so? This is because the swing voter is trying to push the vote result into a sweet spot – one that lies between the two extreme scenarios espoused by either side. They don’t want the PAP to sweep all 93 seats in a ‘white tsunami’. Neither do they want the opposition to claim so much territory that the PAP is too weak to form the Government on its own. But because each swing voter only has a binary choice: either they vote for one side or the other (I’m ignoring the third option where they simply spoil their vote), they can’t very well say “I want to vote 0.6 for the PAP and 0.4 for the Opposition with my vote”. And so we can expect the swing voter bloc to continue being a source of uncertainty for both sides in future elections, as long as swing voters are still convinced that the PAP should be the Government.
2. Voters no longer believe that the PAP needs a ‘strong mandate’ to govern. They also don’t buy into the NCMP scheme.
Throughout the campaign period, the PAP repeatedly exhorted voters to vote for them alone. Granted, they couldn’t very well give any ground to the opposition without a fight. And therefore there was an attempt to equate voting for the PAP as voting for Singapore’s best interests. However, the main message that voters got was this: PAP will only be able to steer Singapore out of the Covid-19 pandemic if it has a strong mandate from the people.
What is a strong mandate, you may ask? While no PAP candidate publicly confirmed it, their incessant harping on the Non-Constituency Member of Parliament (NCMP) scheme as the PAP’s win-win solution for having the PAP in power and a largely de-fanged opposition presence in parliament shows that the PAP truly wanted a parliament where it held every single seat.
Clearly, the electorate has different ideas, handing Sengkang GRC to the WP and slashing the PAP’s margins in previous strongholds such as West Coast, Choa Chu Kang and Tanjong Pagar by double digit percentages. There is no doubt from the results that swing voters are convinced that a PAP supermajority is not good for Singapore. They are no longer convinced that to vote for the opposition is a vote against Singapore. They have realized, as members of a maturing democracy surely must, that one can vote for the opposition, yet still be pro-Singapore.
3. Social Media and the Internet are rewriting the electorate’s perception.
In the past, there was no way to have an easily accessible record of historical events. With the only information source available being biased mainstream media, Singaporeans could only rely on that to fill in the gaps in their memories. Therefore, Operation Coldstore became a myth of the past, and Chee Soon Juan became a crackpot in the eyes of the people, someone who should never be allowed into Parliament.
Fast forward to today. Chee won 45.2% of the votes in Bukit Batok’s Single Member Constituency (SMC). His party-mate, Dr. Paul Tambyah did even better, winning 46.26% of the votes in Bukit Panjang SMC. For someone previously seen as unfit for public office, this is an extremely good result.
Chee has been running for elections in Singapore for a long time, and only now is there a significant change in the way he is perceived (and supported) by the electorate. Why? Because of social media and the internet, two things which the PAP does not have absolute control over. With the ability to conduct interviews with social media personalities as well as upload party videos on Youtube, he has been able to display a side of himself to people that the PAP did not want them to see: someone who is merely human just like them, but who is standing up for what he believes in.
4. Reserved Election Shenanigans and Tan Cheng Block: The electorate has not forgotten.
Tan Cheng Bock almost became our President in 2011. There are many who say that if Tan Kin Lian and Tan Jee Say had not run, Tony Tan would not have been elected. In March 2016, Tan Cheng Bock publicly declared his interest to run for the next Presidential Election that would be held in 2017. The close result of 2011 and Tan Cheng Bock’s imminent candidacy made the upcoming Presidential Election one that was eagerly anticipated.
That is, until the PAP shut down his bid for the presidency just a few months later in September 2016, using its supermajority in Parliament to pass a “reserved election” in which only members of a particular race could take part. Under the new rules that they had drawn up for themselves, it was decreed that only Malays could take part. And not just any Malay. The candidate had to either be a senior executive managing a firm that had S$500 million in shareholders’ equity, or be the Speaker of Parliament or a similarly high post in the public sector (the exact criteria are a bit more in-depth than this, but this is the gist of it. You can find the full criteria here). And who was the Speaker of Parliament at the time? Mdm Halimah, who was conveniently of the right race (Although there was some hooha about her actually being Indian). With the extremely strict private sector criteria and the PAP being able to effectively control who the public sector candidate was, it came as no surprise that Mdm Halimah was declared the only eligible candidate on Nomination Day. A day later, she was Singapore’s President. And all without a single vote cast by any Singaporean.
Of course, the PAP denied that this was a move specifically aimed at blocking Tan Cheng Bock’s bid for the presidency. Chan Chun Sing, Singapore’s current Minister of Trade and Industry, stated in 2017 that the Government was prepared to pay the political price over making these changes to the Constitution.
We can clearly see from the GE2020 results that a price was indeed paid. A loss of almost 9% of vote share is very significant, although a combination of the first-past-the-post rule and the GRC system ensured that the PAP still won 89.2% of the seats in Parliament despite only garnering 61.2% of the votes. On the whole, it’s naught but a scratch to the PAP’s overwhelming dominance in Parliament. The PAP still retains its supermajority and can make changes to the Constitution anytime that it likes. But the swing voters have sent a clear signal that they have not been persuaded by the PAP’s rationale.
5. Swing Voters do not want Racial Politics.
In 2019, Heng Swee Keat, Singapore’s Deputy Prime Minister and the man who is next in line to be Prime Minister (PM) commented that Singapore was not ready to have a non-Chinese PM. He further added that race is an issue that always arises at election-time in Singapore.
Let us now consider the GE2015 results. Tharman Shanmugaratnam, Singapore’s Senior Minister and someone whom many have expressed keenness to be Singapore’s next PM, obtained 79.28% of the vote share in Jurong GRC. This was above even the current Prime Minister Lee Hsien Loong, who scored 78.63% in Ang Mo Kio GRC. Tharman’s score was the highest in the entire election.
And now let us consider the GE2020 results. Tharman scored 74.62% in Jurong, again the highest scorer of the entire election, while Hsien Loong scored 71.91%. So Tharman beat the current PM again, and by an even bigger margin than the last time. Furthermore, Swee Keat, who made the infamous comments above, scored just 53.41% in East Coast.
Yes, I know I’m ignoring a lot of other factors that influenced these results. But don’t these results show conclusively that Heng’s comments were wrong? We have an Indian leading both the current and future PM in both elections, but yet PAP still feels the need to say that Singapore “hasn’t arrived” at a stage where we can vote without race in mind. In fact, this was the same rationale that supposedly led to the reserved presidency as mentioned in my earlier point.
The swing voters have spoken, and it is exceedingly clear to me that the electorate does not care what our highest office-holders are in terms of race, whether it be the PM or the President. Our Singapore pledge firmly states “regardless of race”, and I think the results have shown that we as a people have taken it to heart. But has the PAP?
6. Voters will not be so easily manipulated.
On one hand, Singaporeans were exhorted to stay home during the Covid-19 pandemic. Contact tracing became mandatory, and groups of more than 5 are prohibited.
But on the other hand, we are also told that it’s absolutely necessary to hold an election during this same period, for Singaporeans to wait in long lines and in close proximity to each other as we congregate to cast our vote, all because the PAP needs a strong mandate.
On one hand, Heng Swee Keat lambasted the Worker’s Party, claiming that it was “playing games with voters” over their refusal to confirm if they would accept NCMP seats.
But on the other hand, Heng Swee Keat was moved to the East Coast GRC at the eleventh hour in a surprise move to secure the constituency. (As mentioned above, he was aptly rewarded for this with a razor-thin margin of just 53.41% of the votes.)
On one hand, Masagos Zulkifli, PAP Vice-Chairman stated that “candidates should not be defined by a single moment in time or in their career, but judged instead by their growth throughout their life”. He said this in defense of Ivan Lim, who appears to be the very first candidate in Singaporean politics to have been pushed into retracting his candidacy by the power of non-mainstream media.
But on the other hand, the PAP called on the WP to make clear its stand on Raeesah Khan, a WP candidate who ran (and won) in Sengkang GRC for this election, stating that the Police investigation into Raeesah’s comments made on social media was “a serious matter which goes to the fundamental principles on which our country has been built”.
On one hand, Chan Chun Sing stated in 2015, referring to SingFirst’s policies about giving allowances to the young and the elderly, “Some of them promised you $300 per month. I say, please don’t insult my residents. You think…. they are here to be bribed?”
On the other hand, the PAP Government has just given out several handouts under its many budgets to help Singaporeans cope with the Covid-19 situation. [To be clear, I totally approve of these handouts. What I don’t approve is that the PAP felt the need to lambast similar policies as bribery in the past. Comparing a policy with a crime is a political low blow in my book.]
I could go on, but I think I’ve made my point. And so did the electorate in this election, putting their vote where it counted to show their disdain for the heavy-handedness and double standards that the PAP has displayed for this election.
Conclusion
I don’t say the above to put down the PAP. The PAP would have you believe that to not support them is equivalent to not wanting what’s best for Singapore. This is a false dichotomy that must be stamped out, and I am glad to see our swing voters taking a real stand with this election.
No, I say the above as a harsh but ultimately supportive letter to the PAP. As everyone can see from the results, we all still firmly believe that the PAP should be the Government. We still have faith that PAP has the leadership to take us forward and out of the Covid-19 crisis.
But we also want to send the PAP a strong signal with this vote, to bring them down from their ivory towers and down to the ground. Enough with the double standards. Enough with the heavy-handedness. Singaporeans have clearly stated their desire for a more mature democracy, and that means more alternative voices in Parliament. The PAP needs to stop acting as the father who knows it all, and to start acting as the bigger brother who can work hand in hand with his alternative younger brother towards what’s best for the entire family: Singapore.
There is a real chance that the PAP will not listen, though. As Lee Hsien Loong admitted in a rally in 2006, “if there are 10, 20… opposition members in Parliament… I have to spent my time thinking what is the right way to fix them”.
Now, the PAP has POFMA at its disposal. It still has the supermajority in Parliament, making them able to change any law in Singapore, even the Constitution at will. We have already seen them put these tools to use for its own benefit. Let us see if the PAP will continue as it has always done, or will it take this opportunity to change itself for the better. Whatever the case, we will be watching, and we will be waiting to make our roar heard once again five years down the road.
Majulah Singapura!
Article Ends Here.
Here's the link to the actual article:
https://thethoughtexperiment.org/2020/07/11/ge2020-the-roar-of-the-swing-vote
And here's the link to the other political articles I've written about Singapore:
https://thethoughtexperiment.org/2020/07/07/ge2020-the-state-of-play/
https://thethoughtexperiment.org/2015/09/10/ge2015-voting-wisely/
https://thethoughtexperiment.org/2015/09/05/expectations-of-the-opposition/
submitted by sharingan87 to singapore [link] [comments]

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.

Election ahead

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.

Stimulus

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:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!)

When Will The Economy Recover?

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.
(CLICK HERE FOR THE CHART!)
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!
(CLICK HERE FOR THE CHART!)
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.
(CLICK HERE FOR THE CHART!)
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.
(CLICK HERE FOR THE CHART!)

Share Price Performance

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.
(CLICK HERE FOR THE CHART!)

Nasdaq 2% Pullbacks From Record Highs

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.
(CLICK HERE FOR THE CHART!)
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.
(CLICK HERE FOR THE CHART!)

Christmas in July: NASDAQ’s Mid-Year Rally

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.
(CLICK HERE FOR THE CHART!)

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.
(CLICK HERE FOR THE CHART!)
(CLICK HERE FOR THE CHART!)
(CLICK HERE FOR THE CHART!)

STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending June 26th, 2020

(CLICK HERE FOR THE YOUTUBE VIDEO!

STOCK MARKET VIDEO: ShadowTrader Video Weekly 6.28.20

(CLICK HERE FOR THE YOUTUBE VIDEO!)
Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
  • $MU
  • $GIS
  • $FDX
  • $CAG
  • $STZ
  • $CPRI
  • $XYF
  • $AYI
  • $MEI
  • $UNF
  • $CDMO
  • $SCHN
  • $LNN
  • $CULP
  • $XELA
  • $KFY
  • $RTIX
  • $JRSH
(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)
(CLICK HERE FOR MOST NOTABLE EARNINGS RELEASES FOR THE NEXT 4 WEEKS!)
Below are some of the notable companies coming out with earnings releases this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:

Monday 6.29.20 Before Market Open:

([CLICK HERE FOR MONDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.

Monday 6.29.20 After Market Close:

(CLICK HERE FOR MONDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 6.30.20 Before Market Open:

(CLICK HERE FOR TUESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 6.30.20 After Market Close:

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Wednesday 7.1.20 Before Market Open:

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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.

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General Mills, Inc. $59.21

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.

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FedEx Corp. $130.08

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.

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Conagra Brands, Inc. $32.64

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.

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Constellation Brands, Inc. $168.99

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.

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Capri Holdings Limited $14.37

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.

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X Financial $0.92

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.

(CLICK HERE FOR THE CHART!)

Acuity Brands, Inc. $84.45

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.

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Methode Electronics, Inc. $30.02

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.

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UniFirst Corporation $170.54

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.

(CLICK HERE FOR THE CHART!)

DISCUSS!

What are you all watching for in this upcoming trading week?
I hope you all have a wonderful weekend and a great trading week ahead StockMarket.
submitted by bigbear0083 to StockMarket [link] [comments]

2 months back at trading (update) and some new questions

Hi all, I posted a thread back a few months ago when I started getting seriously back into trading after 20 years away. I thought I'd post an update with some notes on how I'm progressing. I like to type, so settle in. Maybe it'll help new traders who are exactly where I was 2 months ago, I dunno. Or maybe you'll wonder why you spent 3 minutes reading this. Risk/reward, yo.
I'm trading 5k on TastyWorks. I'm a newcomer to theta positive strategies and have done about two thirds of my overall trades in this style. However, most of my experience in trading in the past has been intraday timeframe oriented chart reading and momentum stuff. I learned almost everything "new" that I'm doing from TastyTrade, /options, /thetagang, and Option Alpha. I've enjoyed the material coming from esinvests YouTube channel quite a bit as well. The theta gang type strategies I've done have been almost entirely around binary event IV contraction (mostly earnings, but not always) and in most cases, capped to about $250 in risk per position.
The raw numbers:
Net PnL : +247
Commissions paid: -155
Fees: -42
Right away what jumps out is something that was indicated by realdeal43 and PapaCharlie9 in my previous thread. This is a tough, grindy way to trade a small account. It reminds me a little bit of when I was rising through the stakes in online poker, playing $2/4 limit holdem. Even if you're a profitable player in that game, beating the rake over the long term is very, very hard. Here, over 3 months of trading a conservative style with mostly defined risk strategies, my commissions are roughly equal to my net PnL. That is just insane, and I don't even think I've been overtrading.
55 trades total, win rate of 60%
22 neutral / other trades
Biggest wins:
Biggest losses:
This is pretty much where I expected to be while learning a bunch of new trading techniques. And no, this is not a large sample size so I have no idea whether or not I can be profitable trading this way (yet). I am heartened by the fact that I seem to be hitting my earnings trades and selling quick spikes in IV (like weed cures Corona day). I'm disheartened that I've went against my principles several times, holding trades for longer than I originally intended, or letting losses mount, believing that I could roll or manage my way out of trouble.
I still feel like I am going against my nature to some degree. My trading in years past was scalping oriented and simple. I was taught that a good trade was right almost immediately. If it went against me, I'd cut it immediately and look for a better entry. This is absolutely nothing like that. A good trade may take weeks to develop. It's been really hard for me to sit through the troughs and it's been even harder to watch an okay profit get taken out by a big swing in delta. Part of me wonders if I am cut out for this style at all and if I shouldn't just take my 5k and start trading micro futures. But that's a different post...
I'll share a couple of my meager learnings:


My new questions :

That's enough of this wall of text for now. If you made it this far, I salute you, because this shit was even longer than my last post.
submitted by bogglor to options [link] [comments]

The Beginner's Guide to SPACs

What are SPACs?
A special purpose acquisition company (SPAC) is a company formed solely to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company. SPACs are also called “blank check companies” because they IPO without having any actual business operations.
SPACs are generally formed by investors, or sponsors, with expertise in a particular business sector, with the intention of pursuing deals in that area. The founders generally have at least one acquisition target in mind, but they don't identify that target to avoid extensive disclosures during the IPO process.
A SPAC generally has two years to complete a deal (by a “reverse merger”) or face liquidation. Companies aiming to go public with this route are typically 1x-5x larger in terms of market cap than the SPAC itself.
The SPAC Process
The money SPACs raise in an IPO is placed in an interest-bearing trust account. These funds can’t be used except to complete an acquisition or to return the money to investors if the SPAC is liquidated.
So, in practice, these companies will typically have a $10 floor on their share price, as that is what must be paid out to holders of shares if the company does not successfully reach a deal. If the deal is not completed in time, the warrants expire worthless and the remaining funds are distributed back to the shareholders.
After a SPAC has completed an acquisition the SPAC then trades as any other company listed on an exchange. If you came across a SPAC stock several years after the acquisition, you would likely have no idea it ever started as a SPAC unless you did some research into the company’s history.
Finally, the SPAC symbol and name will change to reflect the company that has been purchased. Often the SPAC takes on the name of the new company, but that is not always the case. If you own either common shares or warrants in your brokerage account, those shares will automatically be converted to the new name/symbol.
The SPAC is Back
SPACs were popular before the financial crisis, but use of SPACs declined following the market meltdown.
Recently, though, an excess of capital has led investors to seek out merger and acquisition opportunities more aggressively, and that's led to the return of SPACs.
More SPACs went public in 2018 than in any year since 2007, raising more than $10 billion in capital for use in searching for investment opportunities. In 2019, the figure was even higher $13.6 billion —more than four times the $3.2 billion they raised in 2016.
SPACs have also now also attracted big-name underwriters such as Goldman Sachs, Credit Suisse, and Deutsche Bank, as well as retired or semi-retired senior executives looking for a shorter-term opportunity.
Through May 2020, $9.8 billion has been raised in 21 SPAC IPOs.
Recent High Profile SPACs
Example 1: SPCE. Before it was Virgin Galactic, it was a SPAC trading under the ticker IPOA. Social Capital Hedosophia raised over $650 million in 2017.
Example 2: DKNG. Before it was Draft Kings, it was Diamond Eagle Acquisition Corp. The SPAC originally raised $350 million in May 2019, listing its units under the symbol DEACU, which comprised common shares and 1/3 warrants. When the investors approved the merger, the SPAC's common shares traded at $17.53, a 75% return from the $10 offer price.
Example 3: NKLA. Before it was Tesla-killer Nikola, it was VTIQ. VectoIQ Acquisition raised $200 million in a May 2018 IPO. In March 2020, the SPAC agreed to merge with Nikola Corp at an implied enterprise value of about $3.3 billion. The rest is history.
Units, Shares and Warrants
Units
When the IPO occurs, a SPAC generally offers Units – generally at $10 per Unit. These Units are comprised of one share of common stock (Share) and a Warrant (or portion of a warrant) to purchase common stock (generally exercisable at $11.50).
Depending on size, prominence/track record of sponsors, and investment bank leading IPO, Units may consist of one Share of common stock plus one full Warrant, ½ of one warrant or ⅓ of one warrant.
Shortly after the IPO, the common stock (Shares) and Warrants included in SPAC Units become separable. At that point, the Warrants and Shares trade separately alongside the unseparated Units.
Shares
SPAC common stock is linked to the SPAC’s secure trust account. SPACs are structured such that the trust account contains at least $10.00 per public share.
Liquidity may be limited in the open market for Shares but the defined liquidation term of SPAC common equity can provide for a relatively attractive yield with an option to own a SPAC's future acquisition target.
If the SPAC fails to complete a business combination in the required timeframe, all public shares are redeemed for a pro rata portion of the cash held in the trust account.
Companies will typically have a $10 floor on their share price, as that is what must be paid out to holders of shares if the company does not successfully reach a deal.
Warrants
A warrant is like an option but traded like a stock. Warrants provide the owner the right (but not the obligation) to purchase one share of the underlying company at a predetermined price per warrant – typically at $11.50.
Almost all SPAC Warrants have a five-year term after any merger has been consummated. However, SPAC warrants, expire worthless if the SPAC can't close a business combination, are thus a binary bet on a five-year warrant on a hypothetical future company.
Warrants become exercisable only if the SPAC completes a business combination transaction before the specified outside date.
The speculative nature of this Warrants tends to lead to wild price swings.
SPAC Tickers
SPAC Shares typically trade with a four-character ticker – eg. MNCL
The SPAC Units are identified as the Share ticker plus “U” at the end – eg MNCLU
Finally, the Warrants are the Share ticker plus “W” at the end – eg MNCLW.
submitted by SPACvet to SPACs [link] [comments]

[Table] Asteroid Day AMA – We’re engineers and scientists working on a mission that could, one day, help save humankind from asteroid extinction. Ask us anything!

Source
There are several people answering: Paolo Martino is PM, Marco Micheli is MM, Heli Greus is HG, Detlef Koschny is DVK, and Aidan Cowley is AC.
Questions Answers
Can we really detect any asteroids in space with accuracy and do we have any real means of destroying it? Yes, we can detect new asteroids when they are still in space. Every night dozens of new asteroids are found, including a few that can come close to the Earth.
Regarding the second part of the question, the goal would be to deflect them more than destroy them, and it is technologically possible. The Hera/DART mission currently being developed by ESA and NASA will demonstrate exactly this capability.
MM
I always wanted to ask: what is worse for life on Earth - to be hit by a single coalesced asteroid chunk, or to be hit by a multiple smaller pieces of exploded asteroid, aka disrupted rubble pile scenario? DVK: This is difficult to answer. If the rubble is small (centimetres to meters) it is better to have lots of small ones – they’d create nice bright meteors. If the rubble pieces are tens of meters it doesn’t help.
Let’s say that hypothetically, an asteroid the size of Rhode Island is coming at us, it will be a direct hit - you’ve had the resources and funding you need, your plan is fully in place, everything you’ve wanted you got. The asteroid will hit in 10 years, what do you do? DVK: I had to look up how big Rhode Island is – a bit larger than the German Bundesland ‘Saarland’. Ok – this would correspond to an object about 60 km in diameter, right? That’s quite big – we would need a lot of rocket launches, this would be extremely difficult. I would pray. The good news is that we are quite convinced that we know all objects larger than just a few kilometers which come close to our planet. None of them is on a collision course, so we are safe.
the below is a reply to the above
Why are you quite convinced that you know all object of that size? And what is your approach in finding new celestial bodies? DVK: There was a scientific study done over a few years (published in Icarus 2018, search for Granvik) where they modelled how many objects there are out there. They compared this to the observations we have with the telescopic surveys. This gives us the expected numbers shown here on our infographic: https://www.esa.int/ESA_Multimedia/Images/2018/06/Asteroid_danger_explained
There are additional studies to estimate the ‘completeness’ – and we think that we know everything above roughly a few km in size.
To find new objects, we use survey telescopes that scan the night sky every night. The two major ones are Catalina and Pan-STARRS, funded by NASA. ESA is developing the so-called Flyeye telescope to add to this effort https://www.esa.int/ESA_Multimedia/Images/2017/02/Flyeye_telescope.
the below is a reply to the above
Thanks for the answer, that's really interesting! It's also funny that the fist Flyeye deployed is in Sicily, at less than 100km from me, I really had no idea DVK: Indeed, that's cool. Maybe you can go and visit it one day.
the below is a reply to the original answer
What about Interstellar objects however, like Oumuamua? DVK: The two that we have seen - 'Oumuamua and comet Borisov - were much smaller than the Saarland (or Rhode Island ;-) - not sure about Borisov, but 'Oumuamua was a few hundred meters in size. So while they could indeed come as a complete surprise, they are so rare that I wouldn't worry.
Would the public be informed if an impending asteroid event were to happen? And, how would the extinction play out? Bunch of people crushed to death, knocked off our orbit, dust clouds forever? DVK: We do not keep things secret – all our info is at the web page http://neo.ssa.esa.int. The ‘risky’ objects are in the ‘risk page’. We also put info on really close approaches there. It would also be very difficult to keep things ‘under cover’ – there are many high-quality amateur astronomers out there that would notice.
In 2029 asteroid Apophis will fly really close to Earth, even closer than geostationary satellites. Can we use some of those satellites to observe the asteroid? Is it possible to launch very cheap cube sats to flyby Apophis in 2029? DVK: Yes an Apophis mission during the flyby in 2029 would be really nice. We even had a special session on that topic at the last Planetary Defense Conference in 2019, and indeed CubeSats were mentioned. This would be a nice university project – get me a close-up of the asteroid with the Earth in the background!
the below is a reply to the above
So you’re saying it was discussed and shelved? In the conference we just presented ideas. To make them happen needs funding - in the case of ESA the support of our member countries. But having something presented at a conference is the first step. One of the results of the conference was a statement to space agencies to consider embarking on such a mission. See here: https://www.cosmos.esa.int/documents/336356/336472/PDC_2019_Summary_Report_FINAL_FINAL.pdf/341b9451-0ce8-f338-5d68-714a0aada29b?t=1569333739470
Go to the section 'resolutions'. This is now a statement that scientists can use to present to their funding agencies, demonstrating that it's not just their own idea.
Thanks for doing this AMA! Did we know the Chelyabinsk meteor in 2013 (the one which had some great videos on social media) was coming? Ig not, how comes? Also, as a little side one, have there been any fatalities from impact events in the past 20 years? Unfortunately, the Chelyabinsk object was not seen in advance, because it came from the direction of the Sun where ground-based telescopes cannot look.
No known fatalities from impacts have happened in the past 20 years, although the Chelyabinsk event did cause many injuries, fortunately mostly minor.
MM
the below is a reply to the above
How often do impacts from that direction happen, compared to impacts from visible trajectories? In terms of fraction of the sky, the area that cannot be easily scanned from the ground is roughly a circle with a radius of 40°-50° around the current position of the Sun, corresponding to ~15% of the total sky. However, there is a slight enhancement of objects coming from that direction, therefore the fraction of objects that may be missed when heading towards us is a bit higher.
However, this applies only when detecting an asteroid in its "final plunge" towards the Earth. Larger asteroids can be spotted many orbits earlier, when they are farther away and visible in the night side of the sky. Their orbits can then be determined and their possible impacts predicted even years or decades in advance.
MM
There must be a trade-off when targeting asteroids as they get closer to Earth, is there a rule of thumb at what the best time is to reach them, in terms of launch time versus time to reach the asteroid and then distance from Earth? DVK: Take e.g. a ‘kinetic impactor’ mission, like what DART and Hera are testing. Since we only change the velocity of the asteroid slightly, we need to hit the object early enough so that the object has time to move away from it’s collision course. Finding out when it is possible to launch requires simulations done by our mission analysis team. They take the strength of the launcher into account, also the available fuel for course corrections, and other things. Normally each asteroid has its own best scenario.
Do you also look at protecting the moon from asteroids? Would an impact of a large enough scale potentially have major impacts on the earth? DVK: There are programmes that monitor the Moon and look for flashes from impacting small asteroids (or meteoroids) - https://neliota.astro.noa.g or the Spanish MIDAS project. We use the data to improve our knowledge about these objects. These programmes just look at what is happening now.
For now we would not do anything if we predicted a lunar impact. I guess this will change once we have a lunar base in place.
Why aren't there an international organisation comprised of countries focused on the asteroid defence? Imagine like the organisation with multi-billion $ budget and program of action on funding new telescopes, asteroid exploration mission, plans for detection of potentially dangerous NEA, protocols on action after the detection - all international, with heads of states discussing these problems? DVK: There are international entities in place, mandated by the UN: The International Asteroid Warning Network (http://www.iawn.net) and the Space Mission Planning Advisory Group (http://www.smpag.net). These groups advise the United Nations. That is exactly where we come up with plans and protocols on action. But: They don’t have budget – that needs to come from elsewhere. I am expecting that if we have a real threat, we would get the budget. Right now, we don’t have a multi-billion budget.
the below is a reply to someone else's answer
There is no actual risk of any sizable asteroids hitting earth in the foreseeable future. Any preparation for it would just be a waste of money. DVK: Indeed, as mentioned earlier, we do not expect a large object to hit is in the near future. We are mainly worried about those in the size range of 20 m to 40 m, which happen on average every few tens of years to hundreds of years. And where we only know a percent of them or even less.
President Obama wanted to send a crewed spacecraft to an asteroid - in your opinion is this something that should still be done in the future, would there be any usefulness in having a human being walk/float on an asteroid's surface? DVK: It would definitely be cool. I would maybe even volunteer to go. Our current missions to asteroids are all robotic, the main reason is that it is much cheaper (but still expensive) to get the same science. But humans will expand further into space, I am sure. If we want to test human exploration activities, doing this at an asteroid would be easier than landing on a planet.
this is another reply Yes, but I am slightly biased by the fact that I work at the European astronaut centre ;) There exist many similarities to what we currently do for EVA (extra vehicular activities) operations on the International Space Station versus how we would 'float' around an asteroid. Slightly biased again, but using such a mission to test exploration technologies would definitely still have value. Thanks Obama! - AC
I've heard that some asteroids contains large amounts of iron. Is there a possibility that we might have "space mines" in the far away future, if our own supply if iron runs out? Yes, this is a topic in the field known as space mining, part of what we call Space Resources. In fact, learning how we can process material we might find on asteroids or other planetary bodies is increasingly important, as it opens up the opportunities for sustainable exploration and commercialization. Its a technology we need to master, and asteroids can be a great target for testing how we can create space mines :) - AC
By how much is DART expected to deflect Didymos? Do we have any indication of the largest size of an asteroid we could potentially deflect? PM: Didymos is a binary asteroid, consisting of a main asteroid Didymos A (~700m) and a smaller asteroid Didymos B (~150m) orbiting around A with a ~12 hours period. DART is expected to impact Didymos B and change its orbital period w.r.t. Didymos A of ~1%. (8 mins)
The size of Didymos B is the most representative of a potential threat to Earth (the highest combination of probability and consequence of impacts), meaning smaller asteroids hit the Earth more often but have less severe consequences, larger asteroids can have catastrophic consequences but their probability of hitting the earth is very very low.
the below is a reply to the above
Why is there less probability of larger asteroids hitting earth? DVK: There are less large objects out there. The smaller they are, the more there are.
the below is a reply to the original answer
Is there any chance that your experiment will backfire and send the asteroid towards earth? PM: Not at all, or we would not do that :) Actually Dimorphos (the Didymos "moon") will not even leave its orbit around Didymos. It will just slightly change its speed.
I'm sure you've been asked this many times but how realistic is the plot of Armageddon? How likely is it that our fate as a species will rely on (either) Bruce Willis / deep sea oil drillers? Taking into consideration that Bruce Willis is now 65 and by the time HERA is launched he will be 69, I do not think that we can rely on him this time (although I liked the movie).
HERA will investigate what method we could use to deflect asteroid and maybe the results will show that we indeed need to call the deep sea oil drillers.
HG
the below is a reply to the above
So then would it be easier to train oil drillers to become astronauts, or to train astronauts to be oil drillers? I do not know which one would be easier since I have no training/experience of deep see oil drilling nor becoming an astronaut, but as long as the ones that would go to asteroid have the sufficient skills and training (even Bruce Willis), I would be happy.
HG
If budget was no object, which asteroid would you most like to send a mission to? Nice question! For me, I'd be looking at an asteroid we know something about, since I would be interested in using it for testing how we could extract resources from it. So for me, I would choose Itokawa (https://en.wikipedia.org/wiki/25143_Itokawa), which was visited by Hayabusa spacecraft. So we already have some solid prospecting carried out for this 'roid! - AC
this is another reply Not sure if it counts as an asteroid, but Detlef and myself would probably choose ʻOumuamua, the first discovered interstellar object.
MM
the below is a reply to the above
Do we even have the capability to catch up to something like that screaming through our solar system? That thing has to have a heck of a velocity to just barrel almost straight through like that. DVK: Correct, that would be a real challenge. We are preparing for a mission called 'Comet Interceptor' that is meant to fly to an interstellar object or at least a fresh comet - but it will not catch up with it, it will only perform a short flyby.
https://www.esa.int/Science_Exploration/Space_Science/ESA_s_new_mission_to_intercept_a_comet
After proving to be able to land on one, could an asteroid serve as a viable means to transport goods and or humans throughout the solar system when the orbit of said asteroid proves beneficial. While it is probably quite problematic to land the payload, it could save fuel or am I mistaken? Neat idea! Wonder if anyone has done the maths on the amount of fuel you would need/save vs certain targets. - AC
PM: To further complement, the saving is quite marginal indeed because in order to land (softly) on the asteroid you actually need to get into the very same orbit of that asteroid . At that point your orbit remains the same whether you are on the asteroid or not..
can the current anti-ballistic missiles systems intercept a terminal phase earth strike asteroid? or it is better to know beforehand and launch an impacting vehicle into space? DVK: While I do see presentations on nuclear explosions to deflect asteroids at our professional meetings, I have not seen anybody yet studying how we could use existing missile systems. So it's hard to judge whether existing missiles would do the job. But in general, it is better to know as early as possible about a possible impact and deflect it as early as possible. This will minimize the needed effort.
How much are we prepared against asteroid impacts at this moment? DVK: 42… :-) Seriously – I am not sure how to quantify ‘preparedness’. We have international working groups in place, mentioned earlier (search for IAWN, SMPAG). We have a Planetary Defence Office at ESA, a Planetary Defense Office at NASA (who spots the difference?), search the sky for asteroids, build space missions… Still we could be doing more. More telescopes to find the object, a space-based telescope to discover those that come from the direction of the Sun. Different test missions would be useful, … So there is always more we could do.
Have you got any data on the NEO coverage? Is there estimations on the percentage of NEOs we have detected and are tracking? How can we improve the coverage? How many times have asteroids been able to enter earths atmosphere without being detected beforehand? Here’s our recently updated infographics with the fraction of undiscovered NEOs for each size range: https://www.esa.int/ESA_Multimedia/Images/2018/06/Asteroid_danger_explained
As expected, we are now nearly complete for the large ones, while many of the smaller ones are still unknown.
In order to improve coverage, we need both to continue the current approach, centered on ground-based telescopes, and probably also launch dedicated telescopes to space, to look at the fraction of the sky that cannot be easily observed from the ground (e.g., towards the Sun).
Regarding the last part of your question, small asteroids enter the Earth atmosphere very often (the infographics above gives you some numbers), while larger ones are much rarer.
In the recent past, the largest one to enter our atmosphere was about 20 meters in diameter, and it caused the Chelyabinsk event in 2013. It could not be detected in advance because it came from the direction of the Sun.
We have however detected a few small ones before impact. The first happened in 2008, when a ~4-meter asteroid was found to be on a collision course less than a day before impact, it was predicted to fall in Northern Sudan, and then actually observed falling precisely where (and when) expected.
MM
this is another reply >After
DVK: And to add what MM said - Check out http://neo.ssa.esa.int. There is a ‘discovery statistics’ section which provides some of the info you asked about. NASA is providing similar information here https://cneos.jpl.nasa.gov/stats/. To see the sky which is currently covered by the survey telescopes, you need to service of the Minor Planet Center which we all work together with: http://www.minorplanetcenter.org, ‘observers’, ‘sky coverage’. That is a tool we use to plan where we look with our telescopes, so it is a more technical page.
Are there any automatic systems for checking large numbers of asteroids orbits, to see if the asteroid's orbit is coming dangerously close to Earth, or is it done by people individually for every asteroid? I ask it because LSST Rubin is coming online soon and you know it will discover a lot of new asteroids. Yes, such systems exist, and monitor all known and newly discovered asteroids in order to predict possible future impacts.
The end result of the process is what we call "risk list": http://neo.ssa.esa.int/risk-page
It is automatically updated every day once new observational data is processed.
MM
What are your favourite sci-fi series? DVK: My favorites are ‘The Expanse’, I also liked watching ‘Salvation’. For the first one I even got my family to give me a new subscription to a known internet streaming service so that I can see the latest episodes. I also loved ‘The Jetsons’ and ‘The Flintstones’ as a kid. Not sure the last one counts as sci-fi though. My long-time favorite was ‘Dark Star’.
this is another reply Big fan of The Expanse at the moment. Nice, hard sci-fi that has a good impression of being grounded in reality - AC
this is another reply When I was a kid I liked The Jetsons, when growing up Star Trek, Star wars and I also used to watch with my sister the 'V'.
HG
When determining the potential threat of a NEA, is the mass of an object a bigger factor or size? I'm asking because I'm curious if a small but massive object (say, with the density of Psyche) could survive atmospheric entry better than a comparatively larger but less massive object. The mass is indeed what really matters, since it’s directly related with the impact energy.
And as you said composition also matters, a metal object would survive atmospheric entry better, not just because it’s heavier, but also because of its internal strength.
MM
What are your thoughts on asteroid mining as portrayed in sci-fi movies? Is it feasible? If so would governments or private space programs be the first to do so?What type of minerals can be found on asteroids that would merit the costs of extraction? Certainly there is valuable stuff you can find on asteroids. For example, the likely easiest material you can harvest from an asteroid would be volatiles such as H2O. Then you have industrial metals, things like Iron, Nickel, and Platinum group metals. Going further, you can break apart many of the oxide minerals you would find to get oxygen (getting you closer to producing rocket fuel in-situ!). Its feasible, but still needs alot of testing both here on Earth and eventually needs to be tested on a target. It may be that governments, via agencies like ESA or NASA, may do it first, to prove the principles somewhat, but I know many commercial entities are also aggresively working towards space mining. To show you that its definitely possible, I'd like to plug the work of colleagues who have processed lunar regolith (which is similar to what you may find on asteroids) to extract both oxygen and metals. Check it out here: http://www.esa.int/ESA_Multimedia/Images/2019/10/Oxygen_and_metal_from_lunar_regolith
AC
Will 2020's climax be a really big rock? DVK: Let's hope not...
Considering NASA, ESA, IAU etc. is working hard to track Earth-grazing asteroids, how come the Chelyabinsk object that airburst over Russia in 2013 came as a total surprise? The Chelyabinsk object came from the direction of the Sun, where unfortunately ground-based telescopes cannot look at. Therefore, it would not have been possible to discover it in advance with current telescopes. Dedicated space telescopes are needed to detect objects coming from this direction in advance.
MM
the below is a reply to the above
Is this to say that it was within specific solid angles for the entire time that we could have observed it given its size and speed? Yes, precisely that. We got unlucky in this case.
MM
Have any of you read Lucifer's Hammer by Larry Niven? In your opinion, how realistic is his depiction of an asteroid strike on Earth? DVK: I have – but really long ago, so I don’t remember the details. But I do remember that I really liked the book, and I remember I always wanted to have a Hot Fudge Sundae when reading it.
I was thinking about the asteroid threat as a teen and came up with this ideas (Hint: they are not equally serious, the level of craziness goes up real quick). Could you please comment on their feasibility? 1. Attaching a rocket engine to an asteroid to make it gradually change trajectory, do that long in advance and it will miss Earth by thousands of km 2. Transporting acid onto asteroid (which are mainly metal), attaching a dome-shaped reaction chamber to it, using heat and pressure to then carry out the chemical reaction to disintegrate asteroids 3. This one is even more terrible than a previous one and totally Dan Brown inspired — transporting antimatter on asteroid, impacting and causing annihilation. Thank you for this AMA and your time! DVK: Well the first one is not so crazy, I have seen it presented... the difficulty is that all asteroids are rotating in one way or another. So if you continuously fire the engine it would not really help. You'd need to switch the engine on and off. Very complex. And landing on an asteroid is challenging too. Just using the 'kinetic impactor' which we will test with DART/Hera (described elsewhere in this chat) is simpler. Another seriously proposed concept is to put a spacecraft next to an asteroid and use an ion engine (like we have on our Mercury mission BepiColombo) to 'push' the asteroid away.
As for 2 and 3 I think I will not live to see that happening ;-)
What is the process to determine the orbit of a newly discovered asteroid? The process is mathematically quite complex, but here's a short summary.
Everything starts with observations, in particular with measurements of the position of an asteroid in the sky, what we call "astrometry". Discovery telescopes extract this information from their discovery images, and make it available to everybody.
These datapoints are then used to calculate possible trajectories ("orbits") that pass through them. At first, with very few points, many orbits will be possible.
Using these orbits we can extrapolate where the asteroid will be located during the following nights, use a telescope to observe that part of the sky, and locate the object again.
From these new observations we can extract new "astrometry", add it to the orbit determination, and see that now only some of the possible orbits will be compatible with the new data. As a result, we now know the trajectory better than before, because a few of the possible orbits are not confirmed by the new data.
The cycle can then continue, with new predictions, new observations, and a more accurate determination of the object's orbit, until it can be determined with an extremely high level of accuracy.
MM
What are some asteroids that are on your "watchlist"? We have exactly that list on our web portal: http://neo.ssa.esa.int/risk-page
It's called "risk list", and it includes all known asteroids for which we cannot exclude a possible impact over the next century. It is updated every day to include newly discovered asteroids, and remove those that have been excluded as possible impactors thanks to new observations.
MM
the below is a reply to the above
That's quite a list!! Do you guys ever feel stressed or afraid when you have to add another dangerous candidate (and by dangerous I mean those above 200m) is added to this Risk List? Yes, when new dangerous ones are added it's important that we immediately do our best to gather more data on them, observing them with telescopes in order to get the information we need to improve our knowledge of their orbit.
And then the satisfaction of getting the data needed to remove one from the list is even greater!
MM
What inspired you to go into this field of study? I was fascinated by astronomy in general since I was a kid, but the actual "trigger" that sparked my interest in NEOs was a wonderful summer course on asteroids organized by a local amateur astronomers association. I immediately decided that I would do my best to turn this passion into my job, and I'm so happy to have been able to make that dream come true.
MM
this is another reply DVK: I started observing meteors when I was 14, just by going outside and looking at the night sky. Since then, small bodies in the solar system were always my passion.
As a layperson, I still think using nuclear weapons against asteroids is the coolest method despite better methods generally being available. Do you still consider the nuclear option the cool option, or has your expertise in the field combined with the real-life impracticalities made it into a laughable/silly/cliche option? DVK: We indeed still study the nuclear option. There are legal aspects though, the ‘outer space treaty’ forbids nuclear explosions in space. But for a large object or one we discover very late it could be useful. That’s why we have to focus on discovering all the objects out there as early as possible – then we have time enough to use more conventional deflection methods, like the kinetic impactor (the DART/Hera scenario).
It seems like doing this well would require international cooperation, particularly with Russia. Have you ever reached out to Russia in your work? Do you have a counterpart organization there that has a similar mission? DVK: Indeed international cooperation is important - asteroids don't know about our borders! We work with a Russian team to perform follow-up observations of recently discovered NEOs. Russia is also involved in the UN-endorsed working groups that we have, IAWN and SMPAG (explained in another answer).
how much can experts tell from a video of a fireball or meteor? Can you work out what it's made of and where it came from? https://www.reddit.com/space/comments/hdf3xe/footage_of_a_meteor_at_barrow_island_australia/?utm_source=share&utm_medium=web2x If multiple videos or pictures, taken from different locations, are available, then it's possible to reconstruct the trajectory, and extrapolate where the object came from.
Regarding the composition, it's a bit more difficult if nothing survives to the ground, but some information can be obtained indirectly from the fireball's color, or its fragmentation behavior. If a spectral analysis of the light can be made, it's then possible to infer the chemical composition in much greater detail.
MM
I've always wanted to know what the best meteorite buying site is and what their average price is?? DVK: Serious dealers will be registered with the 'International Meteorite Collectors Association (IMCA)' - https://www.imca.cc/. They should provide a 'certificate of authenticity' where it says that they are member there. If you are in doubt, you can contact the association and check. Normally there are rough prices for different meteorite types per gram. Rare meteorites will of course be much more expensive than more common ones. Check the IMCA web page to find a dealer close to you.
Just read through Aidans link to the basaltic rock being used as a printing material for lunar habitation. There is a company called Roxul that does stone woven insulation that may be able to shed some light on the research they have done to minimize their similarity to asbestos as potentially carcinogenic materials deemed safe for use in commercial and residential applications. As the interior surfaces will essentially be 3D printed lunar regolith what are the current plans to coat or dampen the affinity for the structure to essentially be death traps for respiratory illness? At least initially, many of these 3d printed regolith structures would not be facing into pressurised sections, but would rather be elements placed outside and around our pressure vessels. Such structures would be things like radiation shields, landing pads or roadways, etc. In the future, if we move towards forming hermetically sealed structures, then your point is a good one. Looking into terrestrial solutions to this problem would be a great start! - AC
What kind of career path does it take to work in the asteroid hunting field? It's probably different for each of us, but here's a short summary of my own path.
I became interested in asteroids, and near-Earth objects in particular, thanks to a wonderful summer course organized by a local amateur astronomers association. Amateur astronomers play a great role in introducing people, and young kids in particular, to these topics.
Then I took physics as my undergrad degree (in Italy), followed by a Ph.D. in astronomy in the US (Hawaii in particular, a great place for astronomers thanks to the exceptional telescopes hosted there).
After finishing the Ph.D. I started my current job at ESA's NEO Coordination Centre, which allowed me to realize my dream of working in this field.
MM
this is another reply DVK: Almost all of us have a Master's degree either in aerospace engineering, mathematics, physics/astronomy/planetary science, or computer science. Some of us - as MM - have a Ph.D. too. But that's not really a requirement. This is true for our team at ESA, but also for other teams in other countries.
What is the likelihood of an asteroid hitting the Earth In the next 200 years? It depends on the size, large ones are rare, while small ones are much more common. You can check this infographics to get the numbers for each size class: https://www.esa.int/ESA_Multimedia/Images/2018/06/Asteroid_danger_explained
MM
Have you played the Earth Defence Force games and if you have, which one is your favourite? No I have not played the Earth Defence Force games, but I just looked it up and I think I would liked it. Which one would you recommend?
HG
How close is too close to earth? Space is a SUPER vast void so is 1,000,000 miles close, 10,000,000? And if an asteroid is big enough can it throw earth off its orbit? DVK: Too close for my taste is when we compute an impact probability > 0 for the object. That means the flyby distance is zero :-) Those are the objects on our risk page http://neo.ssa.esa.int/risk-page.
If an object can alter the orbit of another one, we would call it planet. So unless we have a rogue planet coming from another solar system (verrry unlikely) we are safe from that.
How can I join you when I'm older? DVK: Somebody was asking about our career paths... Study aerospace engineering or math or physics or computer science, get a Masters. Possibly a Ph.D. Then apply for my position when I retire. Check here for how to apply at ESA: https://www.esa.int/About_Us/Careers_at_ESA/Frequently_asked_questions2#HR1
How much is too much? DVK: 42 again
Are you aware of any asteroids that are theoretically within our reach, or will be within our reach at some point, that are carrying a large quantity of shungite? If you're not aware, shungite is like a 2 billion year old like, rock stone that protects against frequencies and unwanted frequencies that may be traveling in the air. I bought a whole bunch of the stuff. Put them around the la casa. Little pyramids, stuff like that. DVK: If I remember my geology properly, Shungite forms in water sedimental deposits. This requires liquid water, i.e. a larger planet. So I don't think there is a high chance to see that on asteroids.
submitted by 500scnds to tabled [link] [comments]

Using Deep Learning to Predict Earnings Outcomes

Using Deep Learning to Predict Earnings Outcomes
(Note: if you were following my earlier posts, I wrote a note at the end of this post explaining why I deleted old posts and what changed)
Edit: Can't reply to comments since my account is still flagged as new :\. Thank you everyone for your comments. Edit: Made another post answering questions here.
  • Test data is untouched during training 10:1:1 train:val:test.
  • Yes, I consider it "deep" learning from what I learned at my institution. I use LSTMs at one point in my pipeline, feel free to consider that deep or not.
  • I'll be making daily posts so that people can follow along.
  • Someone mentioned RL, yes I plan on trying that in the future :). This would require a really clever way to encode the current state parameters. Haven't thought about it too much yet.
  • Someone mentioned how companies beat earnings 61% anyway, so my model must be useless right? Well if you look at the confusion matrix you can see I balanced classes before training (with some noise). This means that the data had roughly 50/50 beat/miss and had a 58% test accuracy.
TLDR:
Not financial advice.
  • I created a deep learning algorithm trained on 2015-2019 data to predict whether a company will beat earning estimates.
  • Algorithm has an accuracy of 58%.
  • I need data and suggestions.
  • I’ll be making daily posts for upcoming earnings.
Greetings everyone,
I’m Bunga, an engineering PhD student at well known university. Like many of you, I developed an interest in trading because of the coronavirus. I lost a lot of money by being greedy and uninformed about how to actually trade options. With all the free time I have with my research slowing down because of the virus, I’ve decided to use what I’m good at (being a nerd, data analytics, and machine learning) to help me make trades.
One thing that stuck out to me was how people make bets on earnings reports. As a practitioner of machine learning, we LOVE binary events since the problem can be reduced to a simple binary classification problem. With that being said, I sought out to develop a machine learning algorithm to predict whether a company will beat earnings estimates.
I strongly suggest TO NOT USE THIS AS FINANCIAL ADVICE. Please, I could just be a random guy on the internet making things up, and I could have bugs in my code. Just follow along for some fun and don’t make any trades based off of this information 😊
Things other people have tried:
A few other projects have tried to do this to some extent [1,2,3], but some are not directly predicting the outcome of the earnings report or have a very small sample size of a few companies.
The data
This has been the most challenging part of the project. I’m using data for 4,000 common stocks.
Open, high, low, close, volume stock data is often free and easy to come by. I use stock data during the quarter (Jan 1 – Mar 31 stock data for Q1 for example) in a time series classifier. I also incorporate “background” data from several ETFs to give the algorithm a feel for how the market is doing overall (hopefully this accounts for bull/bear markets when making predictions).
I use sentiment analyses extracted from 10K/10Q documents from the previous quarter as described in [4]. This gets passed to a multilayer perceptron neural network.
Data that I’ve tried and doesn’t work to well:
Scraping 10K/10Q manually for US GAAP fields like Assets, Cash, StockholdersEquity, etc. Either I’m not very good at processing the data or most of the tables are incomplete, this doesn’t work well. However, I recently came across this amazing API [5] which will ameliorate most of these problems, and I plan on incorporating this data sometime this week.
Results
After training on about 34,000 data points, the model achieves a 58% accuracy on the test data. Class 1 is beat earnings, Class 2 is miss earnings.. Scroll to the bottom for the predictions for today’s AMC estimates.

https://preview.redd.it/fqapvx2z1tv41.png?width=875&format=png&auto=webp&s=05ea5cae25ee5689edea334f2814e1fa73aa195d
Future Directions
Things I’m going to try:
  • Financial twitter sentiment data (need data for this)
  • Data on options (ToS apparently has stuff that you can use)
  • Using data closer to the earnings report itself rather than just the data within the quarterly date
A note to the dozen people who were following me before
Thank you so much for the early feedback and following. I had a bug in my code which was replicating datapoints, causing my accuracy to be way higher in reality. I’ve modified some things to make the network only output a single value, and I’ve done a lot of bug fixing.
Predictions for 4/30/20 AMC:
A value closer to 1 means that the company will be more likely to beat earnings estimates. Closer to 0 means the company will be more likely to miss earnings estimates. (People familiar with machine learning will note that neural networks don’t actually output a probability distribution so the values don’t actually represent a confidence).
  • Tkr: AAPL NN: 0.504
  • Tkr: AMZN NN: 0.544
  • Tkr: UAL NN: 0.438
  • Tkr: GILD NN: 0.532
  • Tkr: TNDM NN: 0.488
  • Tkr: X NN: 0.511
  • Tkr: AMGN NN: 0.642
  • Tkr: WDC NN: 0.540
  • Tkr: WHR NN: 0.574
  • Tkr: SYK NN: 0.557
  • Tkr: ZEN NN: 0.580
  • Tkr: MGM NN: 0.452
  • Tkr: ILMN NN: 0.575
  • Tkr: MOH NN: 0.500
  • Tkr: FND NN: 0.542
  • Tkr: TWOU NN: 0.604
  • Tkr: OSIS NN: 0.487
  • Tkr: CXO NN: 0.470
  • Tkr: BLDR NN: 0.465
  • Tkr: CASA NN: 0.568
  • Tkr: COLM NN: 0.537
  • Tkr: COG NN: 0.547
  • Tkr: SGEN NN: 0.486
  • Tkr: FMBI NN: 0.496
  • Tkr: PSA NN: 0.547
  • Tkr: BZH NN: 0.482
  • Tkr: LOCO NN: 0.575
  • Tkr: DLA NN: 0.460
  • Tkr: SSNC NN: 0.524
  • Tkr: SWN NN: 0.476
  • Tkr: RMD NN: 0.499
  • Tkr: VKTX NN: 0.437
  • Tkr: EXPO NN: 0.526
  • Tkr: BL NN: 0.516
  • Tkr: FTV NN: 0.498
  • Tkr: ASGN NN: 0.593
  • Tkr: KNSL NN: 0.538
  • Tkr: RSG NN: 0.594
  • Tkr: EBS NN: 0.483
  • Tkr: PRAH NN: 0.598
  • Tkr: RRC NN: 0.472
  • Tkr: ICBK NN: 0.514
  • Tkr: LPLA NN: 0.597
  • Tkr: WK NN: 0.630
  • Tkr: ATUS NN: 0.530
  • Tkr: FBHS NN: 0.587
  • Tkr: SWI NN: 0.521
  • Tkr: TRUP NN: 0.570
  • Tkr: AJG NN: 0.509
  • Tkr: BAND NN: 0.618
  • Tkr: DCO NN: 0.514
  • Tkr: BRKS NN: 0.490
  • Tkr: BY NN: 0.502
  • Tkr: CUZ NN: 0.477
  • Tkr: EMN NN: 0.532
  • Tkr: VICI NN: 0.310
  • Tkr: GLPI NN: 0.371
  • Tkr: MTZ NN: 0.514
  • Tkr: SEM NN: 0.405
  • Tkr: SPSC NN: 0.465
[1] https://towardsdatascience.com/forecasting-earning-surprises-with-machine-learning-68b2f2318936
[2] https://zicklin.baruch.cuny.edu/wp-content/uploads/sites/10/2019/12/Improving-Earnings-Predictions-with-Machine-Learning-Hunt-Myers-Myers.pdf
[3] https://www.euclidean.com/better-than-human-forecasts
[4] https://cran.r-project.org/web/packages/edgaedgar.pdf.
[5] https://financialmodelingprep.com/developedocs/
submitted by xXx_Bunga_xXx to wallstreetbets [link] [comments]

Wall Street Week Ahead for the trading week beginning March 9th, 2020

Good Saturday morning to all of you here on wallstreetbets. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week and month ahead.
Here is everything you need to know to get you ready for the trading week beginning March 9th, 2020.

Wall Street braces for more market volatility as wild swings become the ‘new normal’ amid coronavirus - (Source)

The S&P 500 has never behaved like this, but Wall Street strategists say get used to it.
Investors just witnessed the equity benchmark swinging up or down 2% for four days straight in the face of the coronavirus panic.
In the index’s history dating back to 1927, this is the first time the S&P 500 had a week of alternating gains and losses of more than 2% from Monday through Thursday, according to Bespoke Investment Group. Daily swings like this over a two-week period were only seen at the peak of the financial crisis and in 2011 when U.S. sovereign debt got its first-ever downgrade, the firm said.
“The message to all investors is that they should expect this volatility to continue. This should be considered the new normal going forward,” said Mike Loewengart, managing director of investment strategy at E-Trade.
The Dow Jones Industrial Average jumped north of 1,000 points twice in the past week, only to erase the quadruple-digit gains in the subsequent sessions. The coronavirus outbreak kept investors on edge as global cases of the infections surpassed 100,000. It’s also spreading rapidly in the U.S. California has declared a state of emergency, while the number of cases in New York reached 33.
“Uncertainty breeds greater market volatility,” Keith Lerner, SunTrust’s chief market strategist, said in a note. “Much is still unknown about how severe and widespread the coronavirus will become. From a market perspective, what we are seeing is uncomfortable but somewhat typical after shock periods.”

More stimulus?

So far, the actions from global central banks and governments in response to the outbreak haven’t triggered a sustainable rebound.
The Federal Reserve’s first emergency rate cut since the financial crisis did little to calm investor anxiety. President Donald Trump on Friday signed a sweeping spending bill with an$8.3 billion packageto aid prevention efforts to produce a vaccine for the deadly disease, but stocks extended their heavy rout that day.
“The market is recognizing the global authorities are responding to this,” said Tom Essaye, founder of the Sevens Report. “If the market begins to worry they are not doing that sufficiently, then I think we are going to go down ugly. It is helping stocks hold up.”
Essaye said any further stimulus from China and a decent-sized fiscal package from Germany would be positive to the market, but he doesn’t expect the moves to create a huge rebound.
The fed funds future market is now pricing in the possibility of the U.S. central bank cutting by 75 basis points at its March 17-18 meeting.

Where is the bottom?

Many on Wall Street expect the market to fall further before recovering as the health crisis unfolds.
Binky Chadha, Deutsche Bank’s chief equity strategist, sees a bottom for the S&P 500 in the second quarter after stocks falling as much as 20% from their recent peak.
“The magnitude of the selloff in the S&P 500 so far has further to go; and in terms of duration, just two weeks in, it is much too early to declare this episode as being done,” Chadha said in a note. “We do view the impacts on macro and earnings growth as being relatively short-lived and the market eventually looking through them.”
Deutsche Bank maintained its year-end target of 3,250 for the S&P 500, which would represent a 10% gain from here and a flat return for 2020.
Strategists are also urging patience during this heightened volatility, cautioning against panic selling.
“It is during times like these that investors need to maintain a longer-term perspective and stick to their investment process rather than making knee-jerk, binary decisions,” Brian Belski, chief investment strategist at BMO Capital Markets, said in a note.

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Sector Performance WTD, MTD, YTD:

(CLICK HERE FOR FRIDAY'S PERFORMANCE!)
(CLICK HERE FOR THE WEEK-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE MONTH-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE 3-MONTH PERFORMANCE!)
(CLICK HERE FOR THE YEAR-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE 52-WEEK PERFORMANCE!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!)
(CLICK HERE FOR THE CHART LINK #3!)

A "Run of the Mill" Drawdown

If you're like us, you've heard a lot of people reference the recent equity declines as a sign that the market is pricing in some sort of Armageddon in the US economy. While comments like that make for great soundbites, a little perspective is in order. Since the S&P 500's high on February 19th, the S&P 500 is down 12.8%. In the chart below, we show the S&P 500's annual maximum drawdown by year going back to 1928. In the entire history of the index, the median maximum drawdown from a YTD high is 13.05%. In other words, this year's decline is actually less than normal. Perhaps due to the fact that we have only seen one larger-than-average drawdown in the last eight years is why this one feels so bad.
The fact that the current decline has only been inline with the historical norm raises a number of questions. For example, if the market has already priced in the worst-case scenario, going out and adding some equity exposure would be a no brainer. However, if we're only in the midst of a 'normal' drawdown in the equity market as the coronavirus outbreak threatens to put the economy into a recession, one could argue that things for the stock market could get worse before they get better, especially when we know that the market can be prone to over-reaction in both directions. The fact is that nobody knows right now how this entire outbreak will play out. If it really is a black swan, the market definitely has further to fall and now would present a great opportunity to sell more equities. However, if it proves to be temporary and after a quarter or two resolves itself and the economy gets back on the path it was on at the start of the year, then the magnitude of the current decline is probably appropriate. As they say, that's what makes a market!
(CLICK HERE FOR THE CHART!)

Long-Term Treasuries Go Haywire

Take a good luck at today's moves in long-term US Treasury yields, because chances are you won't see moves of this magnitude again soon. Let's start with the yield on the 30-year US Treasury. Today's decline of 29 basis points in the yield will go down as the largest one-day decline in the yield on the 30-year since 2009. For some perspective, there have only been 25 other days since 1977 where the yield saw a larger one day decline.
(CLICK HERE FOR THE CHART!)
That doesn't even tell the whole story, though. As shown in the chart below, every other time the yield saw a sharper one-day decline, the actual yield of the 30-year was much higher, and in most other cases it was much, much higher.
(CLICK HERE FOR THE CHART!)
To show this another way, the percentage change in the yield on the 30-year has never been seen before, and it's not even close. Now, before the chart crime police come calling, we realize showing a percentage change of a percentage is not the most accurate representation, but we wanted to show this for illustrative purposes only.
(CLICK HERE FOR THE CHART!)
Finally, with long-term interest rates plummetting we wanted to provide an update on the performance of the Austrian 100-year bond. That's now back at record highs, begging the question, why is the US not flooding the market with long-term debt?
(CLICK HERE FOR THE CHART!)

It Doesn't Get Much Worse Than This For Crude Oil

Crude oil prices are down close to 10% today in what is shaping up to be the worst day for crude oil since late 2014. That's more than five years.
(CLICK HERE FOR THE CHART!)
Today's decline is pretty much a continuation of what has been a one-way trade for the commodity ever since the US drone strike on Iranian general Soleimani. The last time prices were this low was around Christmas 2018.
(CLICK HERE FOR THE CHART!)
With today's decline, crude oil is now off to its worst start to a year in a generation falling 32%. Since 1984, the only other year that was worse was 1986 when the year started out with a decline of 50% through March 6th. If you're looking for a bright spot, in 1986, prices rose 36% over the remainder of the year. The only other year where crude oil kicked off the year with a 30% decline was in 1991 after the first Iraq war. Over the remainder of that year, prices rose a more modest 5%.
(CLICK HERE FOR THE CHART!)

10-Year Treasury Yield Breaks Below 1%

Despite strong market gains on Wednesday, March 4, 2020, the on-the-run 10-year Treasury yield ended the day below 1% for the first time ever and has posted additional declines in real time, sitting at 0.92% intraday as this blog is being written. “The decline in yields has been remarkable,” said LPL Research Senior Market Strategist Ryan Detrick. “The 10-year Treasury yield has dipped below 1%, and today’s declines are likely to make the recent run lower the largest decline of the cycle.”
As shown in LPL Research’s chart of the day, the current decline in the 10-year Treasury yield without a meaningful reversal (defined as at least 0.75%) is approaching the decline seen in 2011 and 2012 and would need about another two months to be the longest decline in length of time. At the same time, no prior decline has lasted forever and a pattern of declines and increases has been normal.
(CLICK HERE FOR THE CHART!)
What are some things that can push the 10-year Treasury yield lower?
  • A shrinking but still sizable yield advantage over other developed market sovereign debt
  • Added stock volatility if downside risks to economic growth from the coronavirus increase
  • A larger potential premium over shorter-term yields if the Federal Reserve aggressively cuts interest rates
What are some things that can push the 10-year Treasury yield higher?
  • A second half economic rebound acting a catalyst for a Treasury sell-off
  • As yields move lower, investors may increasingly seek more attractive sources of income
  • Any dollar weakness could lead to some selling by international investors
  • Longer maturity Treasuries are looking like an increasingly crowded trade, potentially adding energy to any sell-off
On balance, our view remains that the prospect of an economic rebound over the second half points to the potential for interest rates moving higher. At the same time, we still see some advantage in the potential diversification benefits of intermediate maturity high-quality bonds, especially during periods of market stress. We continue to recommend that suitable investors consider keeping a bond portfolio’s sensitivity to changes in interest rates below that of the benchmark Bloomberg Barclays U.S. Aggregate Bond Index by emphasizing short to intermediate maturity bonds, but do not believe it’s time to pile into very short maturities despite the 10-year Treasury yield sitting at historically low levels.

U.S. Jobs Growth Marches On

While stock markets continue to be extremely volatile as they come to terms with how the coronavirus may affect global growth, the U.S. job market has remained remarkably robust. Continued U.S. jobs data resilience in the face of headwinds from the coronavirus outbreak may be a key factor in prolonging the expansion, given how important the strength of the U.S. consumer has been late into this expansion.
The U.S. Department of Labor today reported that U.S. nonfarm payroll data had a strong showing of 273,000 jobs added in February, topping the expectation of every Bloomberg-surveyed economist, with an additional upward revision of 85,000 additional jobs for December 2019 and January 2020. This has brought the current unemployment rate back to its 50-year low of 3.5%. So far, it appears it’s too soon for any effects of the coronavirus to have been felt in the jobs numbers. (Note: The survey takes place in the middle of each month.)
On Wednesday, ADP released its private payroll data (excluding government jobs), which increased by 183,000 in February, also handily beating market expectations. Most of these jobs were added in the service sector, with 44,000 added in the leisure and hospitality sector, and another 31,000 in trade/transportation/utilities. Both of these areas could be at risk of potential cutbacks if consumers start to avoid eating out or other leisure pursuits due to coronavirus fears.
As shown in the LPL Chart of the Day, payrolls remain strong, and any effects of the virus outbreaks most likely would be felt in coming months.
(CLICK HERE FOR THE CHART!)
“February’s jobs report shows the 113th straight month that the U.S. jobs market has grown,” said LPL Financial Senior Market Strategist Ryan Detrick. “That’s an incredible run and highlights how the U.S. consumer has become key to extending the expansion, especially given setbacks to global growth from the coronavirus outbreak.”
While there is bound to be some drag on future jobs data from the coronavirus-related slowdown, we would anticipate that the effects of this may be transitory. We believe economic fundamentals continue to suggest the possibility of a second-half-of-the–year economic rebound.

Down January & Down February: S&P 500 Posts Full-Year Gain Just 43.75% of Time

The combination of a down January and a down February has come about 17 times, including this year, going back to 1950. Rest of the year and full-year performance has taken a rather sizable hit following the previous 16 occurrences. March through December S&P 500 average performance drops to 2.32% compared to 7.69% in all years. Full-year performance is even worse with S&P 500 average turning to a loss of 4.91% compared to an average gain of 9.14% in all years. All hope for 2020 is not lost as seven of the 16 past down January and down February years did go on to log gains over the last 10 months and full year while six enjoyed double-digit gains from March to December.
(CLICK HERE FOR THE CHART!)

Take Caution After Emergency Rate Cut

Today’s big rally was an encouraging sign that the markets are becoming more comfortable with the public health, monetary and political handling of the situation. But the history of these “emergency” or “surprise” rate cuts by the Fed between meetings suggest some caution remains in order.
The table here shows that these surprise cuts between meetings have really only “worked” once in the past 20+ years. In 1998 when the Fed and the plunge protection team acted swiftly and in a coordinated manner to stave off the fallout from the financial crisis caused by the collapse of the Russian ruble and the highly leveraged Long Term Capital Management hedge fund markets responded well. This was not the case during the extended bear markets of 2001-2002 and 2007-2009.
Bottom line: if this is a short-term impact like the 1998 financial crisis the market should recover sooner rather than later. But if the economic impact of coronavirus virus is prolonged, the market is more likely to languish.
(CLICK HERE FOR THE CHART!)
Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
  • $ADBE
  • $DKS
  • $AVGO
  • $THO
  • $ULTA
  • $WORK
  • $DG
  • $SFIX
  • $SOGO
  • $DOCU
  • $INO
  • $CLDR
  • $INSG
  • $SOHU
  • $BTAI
  • $ORCL
  • $HEAR
  • $NVAX
  • $ADDYY
  • $GPS
  • $AKBA
  • $PDD
  • $CYOU
  • $FNV
  • $MTNB
  • $NERV
  • $MTN
  • $BEST
  • $PRTY
  • $NINE
  • $AZUL
  • $UNFI
  • $PRPL
  • $VSLR
  • $KLZE
  • $ZUO
  • $DVAX
  • $EXPR
  • $VRA
  • $AXSM
  • $CDMO
  • $CASY
(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)
Below are some of the notable companies coming out with earnings releases this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:

Monday 3.9.20 Before Market Open:

(CLICK HERE FOR MONDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Monday 3.9.20 After Market Close:

(CLICK HERE FOR MONDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 3.10.20 Before Market Open:

(CLICK HERE FOR TUESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 3.10.20 After Market Close:

(CLICK HERE FOR TUESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 3.11.20 Before Market Open:

(CLICK HERE FOR WEDNESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 3.11.20 After Market Close:

(CLICK HERE FOR WEDNESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 3.12.20 Before Market Open:

(CLICK HERE FOR THURSDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 3.12.20 After Market Close:

(CLICK HERE FOR THURSDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Friday 3.13.20 Before Market Open:

(CLICK HERE FOR FRIDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Friday 3.13.20 After Market Close:

([CLICK HERE FOR FRIDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.

Adobe Inc. $336.77

Adobe Inc. (ADBE) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $2.23 per share on revenue of $3.04 billion and the Earnings Whisper ® number is $2.29 per share. Investor sentiment going into the company's earnings release has 81% expecting an earnings beat The company's guidance was for earnings of approximately $2.23 per share. Consensus estimates are for year-over-year earnings growth of 29.65% with revenue increasing by 16.88%. Short interest has decreased by 38.4% since the company's last earnings release while the stock has drifted higher by 7.2% from its open following the earnings release to be 10.9% above its 200 day moving average of $303.70. Overall earnings estimates have been revised higher since the company's last earnings release. On Monday, February 24, 2020 there was some notable buying of 1,109 contracts of the $400.00 call expiring on Friday, March 20, 2020. Option traders are pricing in a 9.3% move on earnings and the stock has averaged a 4.1% move in recent quarters.

(CLICK HERE FOR THE CHART!)

DICK'S Sporting Goods, Inc. $34.98

DICK'S Sporting Goods, Inc. (DKS) is confirmed to report earnings at approximately 7:30 AM ET on Tuesday, March 10, 2020. The consensus earnings estimate is $1.23 per share on revenue of $2.56 billion and the Earnings Whisper ® number is $1.28 per share. Investor sentiment going into the company's earnings release has 57% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 14.95% with revenue increasing by 2.73%. Short interest has decreased by 29.1% since the company's last earnings release while the stock has drifted lower by 20.3% from its open following the earnings release to be 12.0% below its 200 day moving average of $39.75. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, February 26, 2020 there was some notable buying of 848 contracts of the $39.00 put expiring on Friday, March 20, 2020. Option traders are pricing in a 14.4% move on earnings and the stock has averaged a 7.3% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Broadcom Limited $269.45

Broadcom Limited (AVGO) is confirmed to report earnings at approximately 4:15 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $5.34 per share on revenue of $5.93 billion and the Earnings Whisper ® number is $5.45 per share. Investor sentiment going into the company's earnings release has 83% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 5.65% with revenue increasing by 2.44%. Short interest has decreased by 15.6% since the company's last earnings release while the stock has drifted lower by 15.3% from its open following the earnings release to be 7.7% below its 200 day moving average of $291.95. Overall earnings estimates have been revised lower since the company's last earnings release. On Tuesday, February 25, 2020 there was some notable buying of 1,197 contracts of the $260.00 put expiring on Friday, April 17, 2020. Option traders are pricing in a 11.1% move on earnings and the stock has averaged a 4.9% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Thor Industries, Inc. $70.04

Thor Industries, Inc. (THO) is confirmed to report earnings at approximately 6:45 AM ET on Monday, March 9, 2020. The consensus earnings estimate is $0.76 per share on revenue of $1.79 billion and the Earnings Whisper ® number is $0.84 per share. Investor sentiment going into the company's earnings release has 62% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 16.92% with revenue increasing by 38.70%. Short interest has decreased by 12.9% since the company's last earnings release while the stock has drifted higher by 5.4% from its open following the earnings release to be 12.0% above its 200 day moving average of $62.53. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 6.3% move on earnings and the stock has averaged a 8.1% move in recent quarters.

(CLICK HERE FOR THE CHART!)

ULTA Beauty $256.58

ULTA Beauty (ULTA) is confirmed to report earnings at approximately 4:00 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $3.71 per share on revenue of $2.29 billion and the Earnings Whisper ® number is $3.75 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 2.77% with revenue increasing by 7.78%. Short interest has increased by 8.7% since the company's last earnings release while the stock has drifted lower by 0.1% from its open following the earnings release to be 9.5% below its 200 day moving average of $283.43. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 15.3% move on earnings and the stock has averaged a 11.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Slack Technologies, Inc. $26.42

Slack Technologies, Inc. (WORK) is confirmed to report earnings at approximately 4:15 PM ET on Thursday, March 12, 2020. The consensus estimate is for a loss of $0.06 per share on revenue of $173.06 million and the Earnings Whisper ® number is ($0.04) per share. Investor sentiment going into the company's earnings release has 67% expecting an earnings beat The company's guidance was for a loss of $0.07 to $0.06 per share on revenue of $172.00 million to $174.00 million. Short interest has increased by 1.2% since the company's last earnings release while the stock has drifted higher by 19.0% from its open following the earnings release. Overall earnings estimates have been revised higher since the company's last earnings release. The stock has averaged a 4.3% move on earnings in recent quarters.

(CLICK HERE FOR THE CHART!)

Dollar General Corporation $158.38

Dollar General Corporation (DG) is confirmed to report earnings at approximately 6:55 AM ET on Thursday, March 12, 2020. The consensus earnings estimate is $2.02 per share on revenue of $7.15 billion and the Earnings Whisper ® number is $2.05 per share. Investor sentiment going into the company's earnings release has 76% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 9.78% with revenue increasing by 7.52%. Short interest has increased by 16.2% since the company's last earnings release while the stock has drifted higher by 1.8% from its open following the earnings release to be 5.7% above its 200 day moving average of $149.88. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, February 28, 2020 there was some notable buying of 1,013 contracts of the $182.50 call expiring on Friday, March 20, 2020. Option traders are pricing in a 9.2% move on earnings and the stock has averaged a 5.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Stitch Fix, Inc. $22.78

Stitch Fix, Inc. (SFIX) is confirmed to report earnings at approximately 4:05 PM ET on Monday, March 9, 2020. The consensus earnings estimate is $0.06 per share on revenue of $452.96 million and the Earnings Whisper ® number is $0.09 per share. Investor sentiment going into the company's earnings release has 83% expecting an earnings beat The company's guidance was for revenue of $447.00 million to $455.00 million. Consensus estimates are for earnings to decline year-over-year by 50.00% with revenue increasing by 22.33%. Short interest has decreased by 4.6% since the company's last earnings release while the stock has drifted lower by 16.1% from its open following the earnings release to be 5.1% below its 200 day moving average of $24.01. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, February 19, 2020 there was some notable buying of 4,026 contracts of the $35.00 call expiring on Friday, June 19, 2020. Option traders are pricing in a 28.0% move on earnings and the stock has averaged a 15.2% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Sogou Inc. $3.85

Sogou Inc. (SOGO) is confirmed to report earnings at approximately 4:00 AM ET on Monday, March 9, 2020. The consensus earnings estimate is $0.09 per share on revenue of $303.08 million and the Earnings Whisper ® number is $0.10 per share. Investor sentiment going into the company's earnings release has 58% expecting an earnings beat The company's guidance was for revenue of $290.00 million to $310.00 million. Consensus estimates are for year-over-year earnings growth of 28.57% with revenue increasing by 1.78%. Short interest has increased by 6.6% since the company's last earnings release while the stock has drifted lower by 27.8% from its open following the earnings release to be 15.7% below its 200 day moving average of $4.57. Overall earnings estimates have been revised lower since the company's last earnings release. The stock has averaged a 3.8% move on earnings in recent quarters.

(CLICK HERE FOR THE CHART!)

DocuSign $84.02

DocuSign (DOCU) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $0.05 per share on revenue of $267.44 million and the Earnings Whisper ® number is $0.08 per share. Investor sentiment going into the company's earnings release has 81% expecting an earnings beat The company's guidance was for revenue of $263.00 million to $267.00 million. Consensus estimates are for year-over-year earnings growth of 600.00% with revenue increasing by 33.90%. Short interest has decreased by 37.7% since the company's last earnings release while the stock has drifted higher by 12.1% from its open following the earnings release to be 31.9% above its 200 day moving average of $63.71. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, March 4, 2020 there was some notable buying of 1,698 contracts of the $87.50 call expiring on Friday, March 20, 2020. Option traders are pricing in a 8.5% move on earnings and the stock has averaged a 10.0% move in recent quarters.

(CLICK HERE FOR THE CHART!)

DISCUSS!

What are you all watching for in this upcoming trading week?
I hope you all have a wonderful weekend and a great trading week ahead wallstreetbets.
submitted by bigbear0083 to wallstreetbets [link] [comments]

How to Trade the News with Binary Options Forex Live Trading _ Binary option news Binary Options- the main strategy. Trading NEWS! Why Nadex Binary Options Make Sense For Futures Traders Binary Options (BO208) - News Trading (Part 2)

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