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Kimsu

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2021-04-05

Great

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2021-04-02

Ok

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2021-03-27

[开心]

Earnings Forecasts Are Low. What That Means for Stocks<blockquote>盈利预测较低。这对股票意味着什么</blockquote>

2021-03-26

Yeah

Stay bullish on the stock market in the face of some fresh sell signals<blockquote>面对一些新的卖出信号，保持看涨股市</blockquote>

2021-03-25

[难过]

GameStop shares fall 33% on lack of transformation detail, possible share sale<blockquote>由于缺乏转型细节和可能出售股票，游戏驿站股价下跌33%</blockquote>

2021-03-18

Good

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2021-03-17

Nice

Why These Top Marijuana Stocks Got Slammed Tuesday<blockquote>为什么这些顶级大麻股票周二遭受重创</blockquote>

2021-03-12

Nice

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2021-03-11

Nice

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2021-03-07

$Tiger Brokers(TIGR)$[开心]

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22:19","market":"us","language":"en","title":"Earnings Forecasts Are Low. What That Means for Stocks<blockquote>盈利预测较低。这对股票意味着什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165077583","media":"Barrons","summary":"Analysts have been racing to revise earnings estimates upward of late, but those projections could e","content":"<p>Analysts have been racing to revise earnings estimates upward of late, but those projections could easily still be too low. That could mean more upside for stocks even though the market has been hot recently.</p><p><blockquote>分析师最近一直在竞相上调盈利预期，但这些预测很可能仍然太低。尽管最近市场很火爆，但这可能意味着股市有更多上涨空间。</blockquote></p><p> Earnings estimates for 2021 for the average&nbsp;S&amp;P 500&nbsp;company have been revised higher by 8% in the past six months, according to FactSet data.Covid-19 vaccines have found arms at a fast pace, enabling states to reopen, which has been met by pent-up demand resulting fromtrillions of dollars of fiscal stimulus. Given that, revisions upward may now be less frequent.</p><p><blockquote>FactSet 数据显示，过去六个月，标普500普通公司 2021 年的盈利预期上调了 8%。 Covid-19 疫苗迅速找到了武器，使各州能够重新开放，这得到了被压抑的需求的满足。数万亿美元的财政刺激。有鉴于此，向上修正现在可能不那么频繁了。</blockquote></p><p> But there is indeed more upside to earnings, according to analysis from&nbsp;Credit Suisse&nbsp;strategists. For every percentage point of additional gross domestic product growth, revenue growth on the S&amp;P 500 is roughly double, historically, Credit Suisse said. With GDP expected to grow just over 7% in 2021—the fastest clip in decades as the economy normalizes after the lockdowns of 2020—S&amp;P 500 revenues could grow about 14%.</p><p><blockquote>但根据瑞士信贷策略师的分析，盈利确实还有更大的上升空间。瑞士信贷表示，从历史上看，国内生产总值每增长一个百分点，标普500的收入增长就大约翻一番。预计 2021 年 GDP 增长略高于 7%——随着 2020 年封锁后经济恢复正常，这是几十年来最快的增幅——标普500收入可能增长约 14%。</blockquote></p><p> But analysts only expect aggregate sales growth on the index of around 9% for the year, according to FactSet data. Considering current revenue estimates, Credit Suisse’s analysis implies roughly 4% upside to sales projections.</p><p><blockquote>但根据 FactSet 数据，分析师预计今年该指数的总销售额增长率仅为 9% 左右。考虑到目前的收入预测，瑞士信贷的分析表明，销售预测有大约 4% 的上涨空间。</blockquote></p><p> Earnings would have even more potential to rise. For many S&amp;P 500 companies—think of manufacturers, retail businesses, and food-chain operators—increased sales often mean even higher profit growth. That is because those companies have high operating leverage: A significant portion of their costs don’t vary much, so when sales rise, profit margins expand and earnings grow robustly.</p><p><blockquote>盈利将有更大的增长潜力。对于许多标普500公司来说——想想制造商、零售企业和食品连锁店运营商——销售额的增加通常意味着更高的利润增长。这是因为这些公司的运营杠杆很高： 它们的很大一部分成本变化不大，因此当销售额上升时，利润率就会扩大，收益也会强劲增长。</blockquote></p><p> Credit Suisse is forecasting EPS growth of 34% in 2021, higher than the consensus estimate of 25%.</p><p><blockquote>瑞士信贷预计 2021 年每股收益将增长 34%，高于市场普遍预期的 25%。</blockquote></p><p> Would higher expectations pump stock prices upward significantly? One challenge is that stocks already reflect a high degree of optimism. The S&amp;P 500 is up almost 20% since late September,when investors resumed buying up assets most sensitive to changes in the economy.</p><p><blockquote>更高的预期会大幅推高股价吗？一个挑战是股市已经反映出高度的乐观情绪。自9月下旬以来，标普500已上涨近20%，当时投资者恢复购买对经济变化最敏感的资产。</blockquote></p><p> That has brought valuations to fairly high levels, with the average stock on the index trading at just under 22 times the per-share earnings expected for next year, compared with the long-term average of 15 times.</p><p><blockquote>这使得估值达到了相当高的水平，该指数中股票的平均交易价格略低于明年预期每股收益的 22 倍，而长期平均水平为 15 倍。</blockquote></p><p> But&nbsp;interest rates have recently been on the rise,which makes stocks less attractive.Many on Wall Street see the S&amp;P 500 trading down to 20 times the earnings expected for next year.While expectations of bigger profits could help stocks, the gain would be partially offset if shares trade at a lower multiple of forecasted earnings.</p><p><blockquote>但最近利率一直在上升，这使得股票的吸引力下降。华尔街许多人认为标普500明年盈利预期跌至 20 倍。虽然更大利润的预期可能会帮助股市，但如果股市的市盈率低于预测市盈率，则涨幅将被部分抵消。</blockquote></p><p> The most economically sensitive stocks are some of the best ones to play the earnings story.Cyclicals have run hot,but some still look good.</p><p><blockquote>对经济最敏感的股票是影响盈利故事的最佳股票.周期性股票已经火爆， 但有些看起来仍然不错。</blockquote></p><p> Norfolk Southern&nbsp;(ticker: NSC) could achieve earnings per share of $16 by 2023,Citigroup&nbsp;analysts wrote in a note. That would put the rail and transportation company on a path to grow earnings at a 20% clip for the next three years, up from the 13% FactSet data indicates Wall Street analysts currently expect. While the stock is trading above its average price/earnings ratio for the past five years, the Citi analysts still see room for a 37% gain in the shares.</p><p><blockquote>花旗集团分析师在一份报告中写道，诺福克南方航空（股票代码：NSC）到 2023 年每股收益可能达到 16 美元。这将使这家铁路和运输公司未来三年的盈利增长率达到 20%，高于华尔街分析师目前预期的 13%。尽管该股的交易价格高于过去五年的平均市盈率，但花旗分析师仍然认为该股还有 37% 的上涨空间。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Earnings Forecasts Are Low. What That Means for Stocks<blockquote>盈利预测较低。这对股票意味着什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEarnings Forecasts Are Low. What That Means for Stocks<blockquote>盈利预测较低。这对股票意味着什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-26 22:19</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Analysts have been racing to revise earnings estimates upward of late, but those projections could easily still be too low. That could mean more upside for stocks even though the market has been hot recently.</p><p><blockquote>分析师最近一直在竞相上调盈利预期，但这些预测很可能仍然太低。尽管最近市场很火爆，但这可能意味着股市有更多上涨空间。</blockquote></p><p> Earnings estimates for 2021 for the average&nbsp;S&amp;P 500&nbsp;company have been revised higher by 8% in the past six months, according to FactSet data.Covid-19 vaccines have found arms at a fast pace, enabling states to reopen, which has been met by pent-up demand resulting fromtrillions of dollars of fiscal stimulus. Given that, revisions upward may now be less frequent.</p><p><blockquote>FactSet 数据显示，过去六个月，标普500普通公司 2021 年的盈利预期上调了 8%。 Covid-19 疫苗迅速找到了武器，使各州能够重新开放，这得到了被压抑的需求的满足。数万亿美元的财政刺激。有鉴于此，向上修正现在可能不那么频繁了。</blockquote></p><p> But there is indeed more upside to earnings, according to analysis from&nbsp;Credit Suisse&nbsp;strategists. For every percentage point of additional gross domestic product growth, revenue growth on the S&amp;P 500 is roughly double, historically, Credit Suisse said. With GDP expected to grow just over 7% in 2021—the fastest clip in decades as the economy normalizes after the lockdowns of 2020—S&amp;P 500 revenues could grow about 14%.</p><p><blockquote>但根据瑞士信贷策略师的分析，盈利确实还有更大的上升空间。瑞士信贷表示，从历史上看，国内生产总值每增长一个百分点，标普500的收入增长就大约翻一番。预计 2021 年 GDP 增长略高于 7%——随着 2020 年封锁后经济恢复正常，这是几十年来最快的增幅——标普500收入可能增长约 14%。</blockquote></p><p> But analysts only expect aggregate sales growth on the index of around 9% for the year, according to FactSet data. Considering current revenue estimates, Credit Suisse’s analysis implies roughly 4% upside to sales projections.</p><p><blockquote>但根据 FactSet 数据，分析师预计今年该指数的总销售额增长率仅为 9% 左右。考虑到目前的收入预测，瑞士信贷的分析表明，销售预测有大约 4% 的上涨空间。</blockquote></p><p> Earnings would have even more potential to rise. For many S&amp;P 500 companies—think of manufacturers, retail businesses, and food-chain operators—increased sales often mean even higher profit growth. That is because those companies have high operating leverage: A significant portion of their costs don’t vary much, so when sales rise, profit margins expand and earnings grow robustly.</p><p><blockquote>盈利将有更大的增长潜力。对于许多标普500公司来说——想想制造商、零售企业和食品连锁店运营商——销售额的增加通常意味着更高的利润增长。这是因为这些公司的运营杠杆很高： 它们的很大一部分成本变化不大，因此当销售额上升时，利润率就会扩大，收益也会强劲增长。</blockquote></p><p> Credit Suisse is forecasting EPS growth of 34% in 2021, higher than the consensus estimate of 25%.</p><p><blockquote>瑞士信贷预计 2021 年每股收益将增长 34%，高于市场普遍预期的 25%。</blockquote></p><p> Would higher expectations pump stock prices upward significantly? One challenge is that stocks already reflect a high degree of optimism. The S&amp;P 500 is up almost 20% since late September,when investors resumed buying up assets most sensitive to changes in the economy.</p><p><blockquote>更高的预期会大幅推高股价吗？一个挑战是股市已经反映出高度的乐观情绪。自9月下旬以来，标普500已上涨近20%，当时投资者恢复购买对经济变化最敏感的资产。</blockquote></p><p> That has brought valuations to fairly high levels, with the average stock on the index trading at just under 22 times the per-share earnings expected for next year, compared with the long-term average of 15 times.</p><p><blockquote>这使得估值达到了相当高的水平，该指数中股票的平均交易价格略低于明年预期每股收益的 22 倍，而长期平均水平为 15 倍。</blockquote></p><p> But&nbsp;interest rates have recently been on the rise,which makes stocks less attractive.Many on Wall Street see the S&amp;P 500 trading down to 20 times the earnings expected for next year.While expectations of bigger profits could help stocks, the gain would be partially offset if shares trade at a lower multiple of forecasted earnings.</p><p><blockquote>但最近利率一直在上升，这使得股票的吸引力下降。华尔街许多人认为标普500明年盈利预期跌至 20 倍。虽然更大利润的预期可能会帮助股市，但如果股市的市盈率低于预测市盈率，则涨幅将被部分抵消。</blockquote></p><p> The most economically sensitive stocks are some of the best ones to play the earnings story.Cyclicals have run hot,but some still look good.</p><p><blockquote>对经济最敏感的股票是影响盈利故事的最佳股票.周期性股票已经火爆， 但有些看起来仍然不错。</blockquote></p><p> Norfolk Southern&nbsp;(ticker: NSC) could achieve earnings per share of $16 by 2023,Citigroup&nbsp;analysts wrote in a note. That would put the rail and transportation company on a path to grow earnings at a 20% clip for the next three years, up from the 13% FactSet data indicates Wall Street analysts currently expect. While the stock is trading above its average price/earnings ratio for the past five years, the Citi analysts still see room for a 37% gain in the shares.</p><p><blockquote>花旗集团分析师在一份报告中写道，诺福克南方航空（股票代码：NSC）到 2023 年每股收益可能达到 16 美元。这将使这家铁路和运输公司未来三年的盈利增长率达到 20%，高于华尔街分析师目前预期的 13%。尽管该股的交易价格高于过去五年的平均市盈率，但花旗分析师仍然认为该股还有 37% 的上涨空间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/why-forecasts-for-earnings-are-low-and-what-that-means-for-stocks-51616758201?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/why-forecasts-for-earnings-are-low-and-what-that-means-for-stocks-51616758201?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165077583","content_text":"Analysts have been racing to revise earnings estimates upward of late, but those projections could easily still be too low. That could mean more upside for stocks even though the market has been hot recently.\nEarnings estimates for 2021 for the average S&P 500 company have been revised higher by 8% in the past six months, according to FactSet data.Covid-19 vaccines have found arms at a fast pace, enabling states to reopen, which has been met by pent-up demand resulting fromtrillions of dollars of fiscal stimulus. Given that, revisions upward may now be less frequent.\nBut there is indeed more upside to earnings, according to analysis from Credit Suisse strategists. For every percentage point of additional gross domestic product growth, revenue growth on the S&P 500 is roughly double, historically, Credit Suisse said. With GDP expected to grow just over 7% in 2021—the fastest clip in decades as the economy normalizes after the lockdowns of 2020—S&P 500 revenues could grow about 14%.\nBut analysts only expect aggregate sales growth on the index of around 9% for the year, according to FactSet data. Considering current revenue estimates, Credit Suisse’s analysis implies roughly 4% upside to sales projections.\nEarnings would have even more potential to rise. For many S&P 500 companies—think of manufacturers, retail businesses, and food-chain operators—increased sales often mean even higher profit growth. That is because those companies have high operating leverage: A significant portion of their costs don’t vary much, so when sales rise, profit margins expand and earnings grow robustly.\nCredit Suisse is forecasting EPS growth of 34% in 2021, higher than the consensus estimate of 25%.\nWould higher expectations pump stock prices upward significantly? One challenge is that stocks already reflect a high degree of optimism. The S&P 500 is up almost 20% since late September,when investors resumed buying up assets most sensitive to changes in the economy.\nThat has brought valuations to fairly high levels, with the average stock on the index trading at just under 22 times the per-share earnings expected for next year, compared with the long-term average of 15 times.\nBut interest rates have recently been on the rise,which makes stocks less attractive.Many on Wall Street see the S&P 500 trading down to 20 times the earnings expected for next year.While expectations of bigger profits could help stocks, the gain would be partially offset if shares trade at a lower multiple of forecasted earnings.\nThe most economically sensitive stocks are some of the best ones to play the earnings story.Cyclicals have run hot,but some still look good.\nNorfolk Southern (ticker: NSC) could achieve earnings per share of $16 by 2023,Citigroup analysts wrote in a note. That would put the rail and transportation company on a path to grow earnings at a 20% clip for the next three years, up from the 13% FactSet data indicates Wall Street analysts currently expect. While the stock is trading above its average price/earnings ratio for the past five years, the Citi analysts still see room for a 37% gain in the shares.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2789,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":356001044,"gmtCreate":1616737102988,"gmtModify":1634524277787,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576547785025400","authorIdStr":"3576547785025400"},"themes":[],"title":"","htmlText":"Yeah","listText":"Yeah","text":"Yeah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/356001044","repostId":"1100799979","repostType":4,"repost":{"id":"1100799979","kind":"news","pubTimestamp":1616730844,"share":"https://www.laohu8.com/m/news/1100799979?lang=zh_CN&edition=full","pubTime":"2021-03-26 11:54","market":"us","language":"en","title":"Stay bullish on the stock market in the face of some fresh sell signals<blockquote>面对一些新的卖出信号，保持看涨股市</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100799979","media":"marketwatch","summary":"The stock market continues to be led by the Dow Jones Industrial Average,with NASDAQ lagging noticea","content":"<p>The stock market continues to be led by the Dow Jones Industrial Average,with NASDAQ&nbsp;lagging noticeably behind, and the S&amp;P 500 indexcaught somewhere in the middle. This is not a good scenario for stocks.</p><p><blockquote>股市继续以道琼斯工业平均指数为主，纳斯达克明显落后，标普500指数介于中间。这对股票来说不是一个好的情况。</blockquote></p><p> There is an old adage that it is not good for the market if the Generals are out in front of the Army (the “Generals” being General Motors, General Electric, etc. – i.e., the mainstays of the Dow of days gone by; the “Army” being the main body of stocks). The point is that if the advance is narrow and limited to the largest institutional stocks, then trouble lies ahead.</p><p><blockquote>有一句古老的谚语说，如果将军走在军队前面，对市场不利（“将军”指的是通用汽车、通用电气等——即过去道琼斯指数的中流砥柱；“军队”指的是股票的主体）。关键是，如果涨幅很小，并且仅限于最大的机构股，那么麻烦就在前方。</blockquote></p><p> It is a good point, but too vague to implement as a trading system. We would normally see that reflected in breadth (which is now giving a sell signal) and new highs vs. new lows (which is also on a sell signal).</p><p><blockquote>这是一个很好的观点，但太模糊了，无法作为交易系统来实现。我们通常会看到这反映在宽度（现在给出了卖出信号）和新高与新低（也给出了卖出信号）上。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c46ab28413e089cb3da5f328292ad4e7\" tg-width=\"620\" tg-height=\"465\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米伦</blockquote></p><p> One positive thing is that the SPX chart is still in an uptrend, as the moving averages and “modified Bollinger Bands” are still trending higher. However, if the S&amp;P breaks through support at 3,870, that uptrend would be called into question. As one can see from the accompanying chart, there is further support near 3,725. If that is broken, the bears would clearly be in charge. Meanwhile, the recent all-time highs, at 3,985, represent resistance.</p><p><blockquote>一个积极的方面是，SPX 图表仍处于上升趋势，因为移动平均线和 “修正布林带 ”仍在走高。然而，如果标准普尔突破3870点的支撑位，这种上升趋势将受到质疑。从随附的图表可以看出，3,725附近还有进一步的支撑。如果这被打破，空头显然会占据主导地位。与此同时，最近的历史高点 3,985 点代表了阻力位。</blockquote></p><p> What is different today compared to previous minor pullbacks is that several of our internal indicators have weakened considerably and are on sell signals: breadth, new highs vs. new lows, and equity-only put-call ratios.</p><p><blockquote>与之前的小幅回调相比，今天的不同之处在于，我们的几个内部指标已经显着减弱，并且处于卖出信号：广度、新高与新低以及仅股票的看跌看涨期权比率。</blockquote></p><p> Equity-only put-call ratios remain on sell signals that were first generated in mid-February and that have strengthened by beginning to rise rapidly.&nbsp;They are still relatively low on their charts, meaning that there is a lot of room to move higher before one might say they are “oversold.”</p><p><blockquote>仅股票的看跌期权与看涨期权比率仍处于 2 月中旬首次产生的卖出信号之下，随着卖出信号的开始迅速上升，卖出信号得到加强。它们在图表上仍然相对较低，这意味着在人们说它们 “超卖 ”之前，还有很大的上涨空间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bfd689fa18eceb515c752afa1cb024f7\" tg-width=\"620\" tg-height=\"465\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN<img src=\"https://static.tigerbbs.com/9216bd23616405d8464aa44f5baea259\" tg-width=\"620\" tg-height=\"460\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米伦劳伦斯·麦克米伦</blockquote></p><p> Breadth has deteriorated badly over the past two weeks – especially this last week. Sell signals were generated by the breadth oscillators on March 18 and March 19, and those oscillators have plunged since then.&nbsp;The “stocks only” breadth oscillator has already descended into oversold territory, but “oversold doesn’t mean buy.”</p><p><blockquote>在过去的两周里，广度严重恶化——尤其是上周。3 月 18 日和 3 月 19 日，宽度振荡指标产生了卖出信号，此后这些振荡指标一直在暴跌。“仅限股票 ”宽度振荡指标已经跌入超卖区域，但 “超卖并不意味着买入”。</blockquote></p><p> The NYSE breadth oscillator is also moving lower, but at a much slower pace, since the more positive “Dow-type” stocks have a heavier weight in that oscillator.</p><p><blockquote>纽约证券交易所宽度振荡指标也在走低，但速度要慢得多，因为更积极的 “道琼斯型 ”股票在该振荡指标中的权重更重。</blockquote></p><p> Meanwhile, cumulative breadth has fallen sharply as well. That is not a signal, but it is worth noting that the “stocks only” cumulative advance-decline line has fallen almost 10,000 issues since the cumulative A-D line reached an all-time high on March 15 (that is, over that time, summing the daily figures, declines have outnumbered advances by 10,000 issues).</p><p><blockquote>与此同时，累计宽度也大幅下降。这并不是一个信号，但值得注意的是，自 3 月 15 日累计 A-D 线创下历史新高以来，“仅股票 ”累计上涨-下跌线已经下跌了近 10,000 期（也就是说，在此期间，将每日数据相加，下跌数量超过上涨数量 10,000 期）。</blockquote></p><p> A significant development has also occurred in the case of the “new highs vs. new lows” indicator. On March 23, new 52-week lows outnumbered new 52-week highs andnew 52-week lows numbered more than 100 issues — the first time that has happened since last May.&nbsp;That was the case again on March 24.&nbsp;That places this indicator on a sell signal until new highs take control once again.</p><p><blockquote>“新高与新低 ”指标也有了重大进展。3月23日，52周新低的数量超过了52周新高，52周新低的数量超过了100个——这是自去年5月以来的第一次。3月24日又出现了这种情况。这使得该指标处于卖出信号，直到新高再次占据主导地位。</blockquote></p><p> Countering the negativity of put-call ratios, breadth, and new highs vs. new lows, is the fact that the volatility indicators still remain generally bullish. VIX has not risen substantially (yet), so the “spike peak” buy signal of March 4 remains in place.</p><p><blockquote>与看跌看涨期权比率、宽度以及新高与新低的负面影响相反的是，波动性指标仍然普遍看涨。VIX 尚未大幅上涨，因此 3 月 4 日的 “尖峰 ”买入信号仍然有效。</blockquote></p><p> Moreover, the trend of VIXVIX,-6.56%continues to be lower, as both VIX and its 20-day moving average are below the declining 200-day moving average. In fact, on March 22, VIX closed at its lowest price (18.88) since February 2020.</p><p><blockquote>此外，VIXVIX,-6.56%的走势继续走低，因为VIX及其20日移动平均线均低于下降的200日移动平均线。事实上，3月22日，VIX收盘价为2020年2月以来的最低价（18.88）。</blockquote></p><p> If VIX should continue to fall below there, it would be a bullish sign for stocks.</p><p><blockquote>如果 VIX 继续跌破该水平，这对股市来说将是一个看涨信号。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c5d40b1aedd4e9457306d25814439c92\" tg-width=\"620\" tg-height=\"465\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米伦</blockquote></p><p> As we’ve noted previously, the fact that VIX has remained so high all during the huge rally over the past year has been a worrisome sign for many traders. But the traders that were keeping VIX higher were actually correct, because realized volatility of SPX (i.e., its 20-day historical volatility) has been just below 20 since early March. Thus, realized volatility rose to meet implied volatility, rather than the other way around (which is more often the case).</p><p><blockquote>正如我们之前指出的，VIX 在过去一年的大幅反弹中一直保持在如此高的水平，这对许多交易者来说是一个令人担忧的信号。但维持 VIX 走高的交易员实际上是正确的，因为自 3 月初以来，SPX 的实现波动率（即其 20 天历史波动率）一直略低于 20。因此，已实现波动率的上升是为了满足隐含波动率，而不是相反（这种情况更常见）。</blockquote></p><p> Now, if one wants to make the case that it is worrisome to see both forms of volatility this high, then so be it. But there is no longer any significant difference between the S&amp;P’s realized and implied volatility.</p><p><blockquote>现在，如果有人想证明看到这两种形式的波动性如此之高令人担忧，那就这样吧。但标准普尔的实际波动率和隐含波动率之间已不再存在显著差异。</blockquote></p><p></p><p> The construct of volatility derivatives has remained bullish throughout.&nbsp;VIX futures are all trading at premiums to VIX, and the term structure slopes upward through the coming summer. Similarly, the term structure of the CBOE Volatility Indices slopes upward through the next six months as well.</p><p><blockquote>波动性衍生品的结构自始至终保持看涨态势。VIX 期货交易价格均高于 VIX，期限结构在即将到来的夏季呈上升趋势。同样，芝加哥期权交易所波动率指数的期限结构在未来六个月也呈上升趋势。</blockquote></p><p> The first sign of a negative reversal here would be if the April VIX futures traded above the price of May VIX futures.</p><p><blockquote>负面反转的第一个迹象是 4 月份 VIX 期货价格高于 5 月份 VIX 期货价格。</blockquote></p><p> Near-term deterioration in some internal indicators is certainly a cause for worry, and small countertrend bearish positions can be taken because of that. However, the S&amp;P’s trend is still higher, and the trend of VIX is still lower – both bullish factors. So we still maintaining a “core” bullish position until those two trends are broken.</p><p><blockquote>一些内部指标的近期恶化当然是一个令人担忧的原因，因此可以采取小的逆势看跌头寸。然而，标准普尔指数的趋势仍然较高，而VIX指数的趋势仍然较低--这两个因素都是看涨因素。因此，在这两个趋势被打破之前，我们仍维持 “核心 ”看涨头寸。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stay bullish on the stock market in the face of some fresh sell signals<blockquote>面对一些新的卖出信号，保持看涨股市</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStay bullish on the stock market in the face of some fresh sell signals<blockquote>面对一些新的卖出信号，保持看涨股市</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-26 11:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The stock market continues to be led by the Dow Jones Industrial Average,with NASDAQ&nbsp;lagging noticeably behind, and the S&amp;P 500 indexcaught somewhere in the middle. This is not a good scenario for stocks.</p><p><blockquote>股市继续以道琼斯工业平均指数为主，纳斯达克明显落后，标普500指数介于中间。这对股票来说不是一个好的情况。</blockquote></p><p> There is an old adage that it is not good for the market if the Generals are out in front of the Army (the “Generals” being General Motors, General Electric, etc. – i.e., the mainstays of the Dow of days gone by; the “Army” being the main body of stocks). The point is that if the advance is narrow and limited to the largest institutional stocks, then trouble lies ahead.</p><p><blockquote>有一句古老的谚语说，如果将军走在军队前面，对市场不利（“将军”指的是通用汽车、通用电气等——即过去道琼斯指数的中流砥柱；“军队”指的是股票的主体）。关键是，如果涨幅很小，并且仅限于最大的机构股，那么麻烦就在前方。</blockquote></p><p> It is a good point, but too vague to implement as a trading system. We would normally see that reflected in breadth (which is now giving a sell signal) and new highs vs. new lows (which is also on a sell signal).</p><p><blockquote>这是一个很好的观点，但太模糊了，无法作为交易系统来实现。我们通常会看到这反映在宽度（现在给出了卖出信号）和新高与新低（也给出了卖出信号）上。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c46ab28413e089cb3da5f328292ad4e7\" tg-width=\"620\" tg-height=\"465\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米伦</blockquote></p><p> One positive thing is that the SPX chart is still in an uptrend, as the moving averages and “modified Bollinger Bands” are still trending higher. However, if the S&amp;P breaks through support at 3,870, that uptrend would be called into question. As one can see from the accompanying chart, there is further support near 3,725. If that is broken, the bears would clearly be in charge. Meanwhile, the recent all-time highs, at 3,985, represent resistance.</p><p><blockquote>一个积极的方面是，SPX 图表仍处于上升趋势，因为移动平均线和 “修正布林带 ”仍在走高。然而，如果标准普尔突破3870点的支撑位，这种上升趋势将受到质疑。从随附的图表可以看出，3,725附近还有进一步的支撑。如果这被打破，空头显然会占据主导地位。与此同时，最近的历史高点 3,985 点代表了阻力位。</blockquote></p><p> What is different today compared to previous minor pullbacks is that several of our internal indicators have weakened considerably and are on sell signals: breadth, new highs vs. new lows, and equity-only put-call ratios.</p><p><blockquote>与之前的小幅回调相比，今天的不同之处在于，我们的几个内部指标已经显着减弱，并且处于卖出信号：广度、新高与新低以及仅股票的看跌看涨期权比率。</blockquote></p><p> Equity-only put-call ratios remain on sell signals that were first generated in mid-February and that have strengthened by beginning to rise rapidly.&nbsp;They are still relatively low on their charts, meaning that there is a lot of room to move higher before one might say they are “oversold.”</p><p><blockquote>仅股票的看跌期权与看涨期权比率仍处于 2 月中旬首次产生的卖出信号之下，随着卖出信号的开始迅速上升，卖出信号得到加强。它们在图表上仍然相对较低，这意味着在人们说它们 “超卖 ”之前，还有很大的上涨空间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bfd689fa18eceb515c752afa1cb024f7\" tg-width=\"620\" tg-height=\"465\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN<img src=\"https://static.tigerbbs.com/9216bd23616405d8464aa44f5baea259\" tg-width=\"620\" tg-height=\"460\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米伦劳伦斯·麦克米伦</blockquote></p><p> Breadth has deteriorated badly over the past two weeks – especially this last week. Sell signals were generated by the breadth oscillators on March 18 and March 19, and those oscillators have plunged since then.&nbsp;The “stocks only” breadth oscillator has already descended into oversold territory, but “oversold doesn’t mean buy.”</p><p><blockquote>在过去的两周里，广度严重恶化——尤其是上周。3 月 18 日和 3 月 19 日，宽度振荡指标产生了卖出信号，此后这些振荡指标一直在暴跌。“仅限股票 ”宽度振荡指标已经跌入超卖区域，但 “超卖并不意味着买入”。</blockquote></p><p> The NYSE breadth oscillator is also moving lower, but at a much slower pace, since the more positive “Dow-type” stocks have a heavier weight in that oscillator.</p><p><blockquote>纽约证券交易所宽度振荡指标也在走低，但速度要慢得多，因为更积极的 “道琼斯型 ”股票在该振荡指标中的权重更重。</blockquote></p><p> Meanwhile, cumulative breadth has fallen sharply as well. That is not a signal, but it is worth noting that the “stocks only” cumulative advance-decline line has fallen almost 10,000 issues since the cumulative A-D line reached an all-time high on March 15 (that is, over that time, summing the daily figures, declines have outnumbered advances by 10,000 issues).</p><p><blockquote>与此同时，累计宽度也大幅下降。这并不是一个信号，但值得注意的是，自 3 月 15 日累计 A-D 线创下历史新高以来，“仅股票 ”累计上涨-下跌线已经下跌了近 10,000 期（也就是说，在此期间，将每日数据相加，下跌数量超过上涨数量 10,000 期）。</blockquote></p><p> A significant development has also occurred in the case of the “new highs vs. new lows” indicator. On March 23, new 52-week lows outnumbered new 52-week highs andnew 52-week lows numbered more than 100 issues — the first time that has happened since last May.&nbsp;That was the case again on March 24.&nbsp;That places this indicator on a sell signal until new highs take control once again.</p><p><blockquote>“新高与新低 ”指标也有了重大进展。3月23日，52周新低的数量超过了52周新高，52周新低的数量超过了100个——这是自去年5月以来的第一次。3月24日又出现了这种情况。这使得该指标处于卖出信号，直到新高再次占据主导地位。</blockquote></p><p> Countering the negativity of put-call ratios, breadth, and new highs vs. new lows, is the fact that the volatility indicators still remain generally bullish. VIX has not risen substantially (yet), so the “spike peak” buy signal of March 4 remains in place.</p><p><blockquote>与看跌看涨期权比率、宽度以及新高与新低的负面影响相反的是，波动性指标仍然普遍看涨。VIX 尚未大幅上涨，因此 3 月 4 日的 “尖峰 ”买入信号仍然有效。</blockquote></p><p> Moreover, the trend of VIXVIX,-6.56%continues to be lower, as both VIX and its 20-day moving average are below the declining 200-day moving average. In fact, on March 22, VIX closed at its lowest price (18.88) since February 2020.</p><p><blockquote>此外，VIXVIX,-6.56%的走势继续走低，因为VIX及其20日移动平均线均低于下降的200日移动平均线。事实上，3月22日，VIX收盘价为2020年2月以来的最低价（18.88）。</blockquote></p><p> If VIX should continue to fall below there, it would be a bullish sign for stocks.</p><p><blockquote>如果 VIX 继续跌破该水平，这对股市来说将是一个看涨信号。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c5d40b1aedd4e9457306d25814439c92\" tg-width=\"620\" tg-height=\"465\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米伦</blockquote></p><p> As we’ve noted previously, the fact that VIX has remained so high all during the huge rally over the past year has been a worrisome sign for many traders. But the traders that were keeping VIX higher were actually correct, because realized volatility of SPX (i.e., its 20-day historical volatility) has been just below 20 since early March. Thus, realized volatility rose to meet implied volatility, rather than the other way around (which is more often the case).</p><p><blockquote>正如我们之前指出的，VIX 在过去一年的大幅反弹中一直保持在如此高的水平，这对许多交易者来说是一个令人担忧的信号。但维持 VIX 走高的交易员实际上是正确的，因为自 3 月初以来，SPX 的实现波动率（即其 20 天历史波动率）一直略低于 20。因此，已实现波动率的上升是为了满足隐含波动率，而不是相反（这种情况更常见）。</blockquote></p><p> Now, if one wants to make the case that it is worrisome to see both forms of volatility this high, then so be it. But there is no longer any significant difference between the S&amp;P’s realized and implied volatility.</p><p><blockquote>现在，如果有人想证明看到这两种形式的波动性如此之高令人担忧，那就这样吧。但标准普尔的实际波动率和隐含波动率之间已不再存在显著差异。</blockquote></p><p></p><p> The construct of volatility derivatives has remained bullish throughout.&nbsp;VIX futures are all trading at premiums to VIX, and the term structure slopes upward through the coming summer. Similarly, the term structure of the CBOE Volatility Indices slopes upward through the next six months as well.</p><p><blockquote>波动性衍生品的结构自始至终保持看涨态势。VIX 期货交易价格均高于 VIX，期限结构在即将到来的夏季呈上升趋势。同样，芝加哥期权交易所波动率指数的期限结构在未来六个月也呈上升趋势。</blockquote></p><p> The first sign of a negative reversal here would be if the April VIX futures traded above the price of May VIX futures.</p><p><blockquote>负面反转的第一个迹象是 4 月份 VIX 期货价格高于 5 月份 VIX 期货价格。</blockquote></p><p> Near-term deterioration in some internal indicators is certainly a cause for worry, and small countertrend bearish positions can be taken because of that. However, the S&amp;P’s trend is still higher, and the trend of VIX is still lower – both bullish factors. So we still maintaining a “core” bullish position until those two trends are broken.</p><p><blockquote>一些内部指标的近期恶化当然是一个令人担忧的原因，因此可以采取小的逆势看跌头寸。然而，标准普尔指数的趋势仍然较高，而VIX指数的趋势仍然较低--这两个因素都是看涨因素。因此，在这两个趋势被打破之前，我们仍维持 “核心 ”看涨头寸。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/stay-bullish-on-the-stock-market-in-the-face-of-some-fresh-sell-signals-01616682019?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5d8fb95e65f042f352c6313989391357","relate_stocks":{".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/stay-bullish-on-the-stock-market-in-the-face-of-some-fresh-sell-signals-01616682019?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100799979","content_text":"The stock market continues to be led by the Dow Jones Industrial Average,with NASDAQ lagging noticeably behind, and the S&P 500 indexcaught somewhere in the middle. This is not a good scenario for stocks.\nThere is an old adage that it is not good for the market if the Generals are out in front of the Army (the “Generals” being General Motors, General Electric, etc. – i.e., the mainstays of the Dow of days gone by; the “Army” being the main body of stocks). The point is that if the advance is narrow and limited to the largest institutional stocks, then trouble lies ahead.\nIt is a good point, but too vague to implement as a trading system. We would normally see that reflected in breadth (which is now giving a sell signal) and new highs vs. new lows (which is also on a sell signal).\nLAWRENCE MCMILLAN\nOne positive thing is that the SPX chart is still in an uptrend, as the moving averages and “modified Bollinger Bands” are still trending higher. However, if the S&P breaks through support at 3,870, that uptrend would be called into question. As one can see from the accompanying chart, there is further support near 3,725. If that is broken, the bears would clearly be in charge. Meanwhile, the recent all-time highs, at 3,985, represent resistance.\nWhat is different today compared to previous minor pullbacks is that several of our internal indicators have weakened considerably and are on sell signals: breadth, new highs vs. new lows, and equity-only put-call ratios.\nEquity-only put-call ratios remain on sell signals that were first generated in mid-February and that have strengthened by beginning to rise rapidly. They are still relatively low on their charts, meaning that there is a lot of room to move higher before one might say they are “oversold.”\nLAWRENCE MCMILLANLAWRENCE MCMILLAN\nBreadth has deteriorated badly over the past two weeks – especially this last week. Sell signals were generated by the breadth oscillators on March 18 and March 19, and those oscillators have plunged since then. The “stocks only” breadth oscillator has already descended into oversold territory, but “oversold doesn’t mean buy.”\nThe NYSE breadth oscillator is also moving lower, but at a much slower pace, since the more positive “Dow-type” stocks have a heavier weight in that oscillator.\nMeanwhile, cumulative breadth has fallen sharply as well. That is not a signal, but it is worth noting that the “stocks only” cumulative advance-decline line has fallen almost 10,000 issues since the cumulative A-D line reached an all-time high on March 15 (that is, over that time, summing the daily figures, declines have outnumbered advances by 10,000 issues).\nA significant development has also occurred in the case of the “new highs vs. new lows” indicator. On March 23, new 52-week lows outnumbered new 52-week highs andnew 52-week lows numbered more than 100 issues — the first time that has happened since last May. That was the case again on March 24. That places this indicator on a sell signal until new highs take control once again.\nCountering the negativity of put-call ratios, breadth, and new highs vs. new lows, is the fact that the volatility indicators still remain generally bullish. VIX has not risen substantially (yet), so the “spike peak” buy signal of March 4 remains in place.\nMoreover, the trend of VIXVIX,-6.56%continues to be lower, as both VIX and its 20-day moving average are below the declining 200-day moving average. In fact, on March 22, VIX closed at its lowest price (18.88) since February 2020.\nIf VIX should continue to fall below there, it would be a bullish sign for stocks.\nLAWRENCE MCMILLAN\nAs we’ve noted previously, the fact that VIX has remained so high all during the huge rally over the past year has been a worrisome sign for many traders. But the traders that were keeping VIX higher were actually correct, because realized volatility of SPX (i.e., its 20-day historical volatility) has been just below 20 since early March. Thus, realized volatility rose to meet implied volatility, rather than the other way around (which is more often the case).\nNow, if one wants to make the case that it is worrisome to see both forms of volatility this high, then so be it. But there is no longer any significant difference between the S&P’s realized and implied volatility.\nThe construct of volatility derivatives has remained bullish throughout. VIX futures are all trading at premiums to VIX, and the term structure slopes upward through the coming summer. Similarly, the term structure of the CBOE Volatility Indices slopes upward through the next six months as well.\nThe first sign of a negative reversal here would be if the April VIX futures traded above the price of May VIX futures.\nNear-term deterioration in some internal indicators is certainly a cause for worry, and small countertrend bearish positions can be taken because of that. However, the S&P’s trend is still higher, and the trend of VIX is still lower – both bullish factors. So we still maintaining a “core” bullish position until those two trends are broken.","news_type":1,"symbols_score_info":{".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3464,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358033173,"gmtCreate":1616638773992,"gmtModify":1634524790457,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576547785025400","authorIdStr":"3576547785025400"},"themes":[],"title":"","htmlText":"[难过]&nbsp;","listText":"[难过]&nbsp;","text":"[难过]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/358033173","repostId":"1132657904","repostType":4,"repost":{"id":"1132657904","kind":"news","pubTimestamp":1616632329,"share":"https://www.laohu8.com/m/news/1132657904?lang=zh_CN&edition=full","pubTime":"2021-03-25 08:32","market":"us","language":"en","title":"GameStop shares fall 33% on lack of transformation detail, possible share sale<blockquote>由于缺乏转型细节和可能出售股票，游戏驿站股价下跌33%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132657904","media":"cnbc","summary":"KEY POINTS\n\nGameStop missed on the top and bottom lines of its quarterly results, but e-commerce sal","content":"<p><div> KEY POINTS  GameStop missed on the top and bottom lines of its quarterly results, but e-commerce sales jumped 175% last quarter and accounted for more than a third of its sales in the period. The ...</p><p><blockquote><div>游戏驿站错过了季度业绩的顶线和底线，但电子商务销售额上季度增长了175%，占同期销售额的三分之一以上。这...</div></blockquote></p><p>  <a href=\"https://www.cnbc.com/2021/03/23/gamestop-shares-rise-on-e-commerce-sales-jump-new-coo.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.cnbc.com/2021/03/23/gamestop-shares-rise-on-e-commerce-sales-jump-new-coo.html\">网页连接</a></blockquote></p><p></p>","source":"lsy1609915699154","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop shares fall 33% on lack of transformation detail, possible share sale<blockquote>由于缺乏转型细节和可能出售股票，游戏驿站股价下跌33%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop shares fall 33% on lack of transformation detail, possible share sale<blockquote>由于缺乏转型细节和可能出售股票，游戏驿站股价下跌33%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnbc</strong><span class=\"h-time small\">2021-03-25 08:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> KEY POINTS  GameStop missed on the top and bottom lines of its quarterly results, but e-commerce sales jumped 175% last quarter and accounted for more than a third of its sales in the period. The ...</p><p><blockquote><div>游戏驿站错过了季度业绩的顶线和底线，但电子商务销售额上季度增长了175%，占同期销售额的三分之一以上。这...</div></blockquote></p><p>  <a href=\"https://www.cnbc.com/2021/03/23/gamestop-shares-rise-on-e-commerce-sales-jump-new-coo.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.cnbc.com/2021/03/23/gamestop-shares-rise-on-e-commerce-sales-jump-new-coo.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.cnbc.com/2021/03/23/gamestop-shares-rise-on-e-commerce-sales-jump-new-coo.html\">cnbc</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.cnbc.com/2021/03/23/gamestop-shares-rise-on-e-commerce-sales-jump-new-coo.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132657904","content_text":"KEY POINTS\n\nGameStop missed on the top and bottom lines of its quarterly results, but e-commerce sales jumped 175% last quarter and accounted for more than a third of its sales in the period.\nThe brick-and-mortar video game retailer named former Amazon and Google executive Jenna Owens as its new chief operating officer.\nGameStop also acknowledged in a filing that it was considering selling additional equity shares.\nDuring a much anticipated earnings conference call that at one point reached maximum capacity, the company declined to answer questions.\n\nInvestors finally got a look atGameStop's fundamentals following a Reddit-fueled trading frenzy earlier this year and were left wanting more from the video game retailer.\nHere's what the company announced after the bell Tuesday.\n\nIt released fiscal fourth-quarter results that missedWall Street's estimates on the top and bottom lines.\nIn its latest executive shake-up, the company named former Amazon and Google executive Jenna Owens as its new chief operating officer.\nIn a hint of the transformation that’s got some investors excited about the stock, the company said global e-commerce sales jumped 175% last quarter and accounted for more than a third of its sales in the period.\nGameStop also acknowledged in a filing that it was considering selling additional equity shares to fund its transformation.\nDuring a much anticipated earnings conference call that at one point reached maximum capacity, the company declined to answer questions.\n\nShares tanked 33.8% on Wednesday on the potential share sale and disappointment that a more detailed transformation wasn’t unveiled.\n“The highly anticipated 4Q20 earnings report from GameStop was a bit anti-climatic,” wrote Telsey Advisory Group analyst Joseph Feldman. “While EPS met the consensus, it was completely driven by a tax benefit that offset much worse than expected operating profit. Moreover, while everyone was expecting big news about some massive digital transformation in the mold of the new tech-oriented board members, nothing was said.”\n“In fact, the company did not even take questions on the earnings conference call,” added Feldman. “As for the much anticipated strategic plan, it sounded like every other retailer.”\nFor the fiscal period ended January 2021, GameStop earned $1.34 per share on revenue of $2.12 billion. Wall Street was expecting earnings per share of $1.35 on revenue of $2.21 billion, according to Refinitiv’s average of the six analysts.\nGameStop’s fiscal fourth-quarter earnings typically make up the majority of the company’s yearly earnings, boosted by holiday sales. The company’s same-store sales rose 6.5% last quarter.\nThe company said it is continuing to suspend guidance, but is updating its fulfillment operations to boost the speed of its delivery and services. GameStop CEO George Sherman also revealed that February comparable store sales increased 23%, thanks to strength in hardware sales worldwide.\nAlong with the mania-fueled trading, GameStop’s stock has responded positively on new developments for the company in the past five months like the appointment ofChewyco-founder Ryan Cohen to GameStop’s board and a focus on GameStop’s technology and e-commerce transition.\nGameStop said after the bell that it continues to seek out executive talent with e-commerce, retail and technology expertise to bolster its turnaround. Sherman said on the conference call that GameStop was “focused on transforming into a customer-obsessed technology company that excites gamers.”\nEarlier this month, GameStopannounced it tapped Cohen to lead its shift to e-commerce. He is serving as chairman of a special committee formed by GameStop’s board to help its transformation. Board members Alan Attal, Chewy’s former top operations executive, and Kurt Wolf, chief investment officer of Hestia Capital Management, also serve on the committee.\n\nEarlier this year, an epic short squeeze in the company’s stock shocked Wall Street and drew attention to an emerging class of retail investor on social media platforms like Reddit. GameStop’s share price skyrocketed to $483 per share, and subsequently lost 90% of its value. The controversy drew the attention of Wall Street and Washington.\nGameStop still has a market capitalization of nearly $13 billion through Tuesday’s close, 10 times the $1.3 billion market value the stock had at the end of last year. A year ago, GameStop’s market capitalization was $245 million.\nNaming Owens as COO is the latest in a series of recent personnel moves, but it remains to be seen whether these moves and the sparse detail given Tuesday night will satisfy investors that have bid up the stock to such high levels.\nTelsey’s Feldman lowered his price target on the shares to $30 from $33 following the results. The new target would represent a decline of more than 80% from Tuesday’s close.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":4235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":327940396,"gmtCreate":1616054478915,"gmtModify":1703496932791,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576547785025400","authorIdStr":"3576547785025400"},"themes":[],"title":"","htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327940396","repostId":"1140777123","repostType":4,"isVote":1,"tweetType":1,"viewCount":2771,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324310943,"gmtCreate":1615962080482,"gmtModify":1703495577877,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576547785025400","authorIdStr":"3576547785025400"},"themes":[],"title":"","htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324310943","repostId":"1140620694","repostType":4,"repost":{"id":"1140620694","kind":"news","pubTimestamp":1615953301,"share":"https://www.laohu8.com/m/news/1140620694?lang=zh_CN&edition=full","pubTime":"2021-03-17 11:55","market":"us","language":"en","title":"Why These Top Marijuana Stocks Got Slammed Tuesday<blockquote>为什么这些顶级大麻股票周二遭受重创</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1140620694","media":"Motley Fool","summary":"It's about what's happening in a potentially powerful marijuana state.\nWhat happened\nIt was a terrib","content":"<p>It's about what's happening in a potentially powerful marijuana state.</p><p><blockquote>这是关于一个潜在强大的大麻州发生的事情。</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么事</b></blockquote></p><p> It was a terrible Tuesday for most marijuana stocks, particularly the Canadian ones.<b>Tilray</b>&nbsp;(NASDAQ:TLRY)&nbsp;sank by nearly 12%, while its partner-to-be&nbsp;<b>Aphria</b>&nbsp;(NASDAQ:APHA)&nbsp;fell by 9%.<b>Canopy Growth</b>&nbsp;(NASDAQ:CGC),<b>Aurora Cannabis</b>&nbsp;(NYSE:ACB),<b>Organigram Holdings</b>&nbsp;(NASDAQ:OGI), and&nbsp;<b>HEXO</b>&nbsp;(NYSE:HEXO)&nbsp;were close behind, sliding at rates from 4% to 7%.</p><p><blockquote>对于大多数大麻股票来说，这是一个糟糕的星期二，尤其是加拿大的大麻股票。<b>蒂尔雷</b>（纳斯达克股票代码：TLRY）下跌近 12%，而其未来的合作伙伴<b>阿弗里亚</b>（纳斯达克股票代码：APHA）下跌 9%。<b>冠层生长</b>（纳斯达克代码：CGC），<b>奥罗拉大麻</b>（纽约证券交易所代码：ACB），<b>组织结构图控股</b>（纳斯达克股票代码：OGI），以及<b>六角</b>（纽约证券交易所股票代码：HEXO）紧随其后，利率从 4% 下滑至 7%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> If there's one thing investors despise, it's uncertainty. Tuesday's big question mark was New York, which is considered by many weed-watchers to be the next likely state to legalize recreational marijuana.</p><p><blockquote>如果说投资者鄙视一件事，那就是不确定性。周二最大的问号是纽约，许多杂草观察家认为纽约是下一个可能将娱乐用大麻合法化的州。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/31e57ae152cd078baebb7ec2593604d8\" tg-width=\"2000\" tg-height=\"1125\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Yet on Tuesday, there were conflicting media reports about the state government's decision to flip the switch.</p><p><blockquote>然而在周二，关于州政府决定按下开关的媒体报道相互矛盾。</blockquote></p><p> The Albany-based&nbsp;<i>Times Union</i>, for example, published an article that day headlined \"Legislature nears deal on recreational marijuana legalization.\" Yet Marijuana Moment quoted state Senate majority leader Andrea Stewart-Cousins as saying negotiations over such legislation \"reached a little bit of an impasse.\"</p><p><blockquote>总部位于奥尔巴尼<i>时代联盟</i>例如，当天发表了一篇题为“立法机构即将就娱乐大麻合法化达成协议”的文章。然而，《大麻时刻》援引州参议院多数党领袖安德里亚·斯图尔特-考辛斯的话说，关于此类立法的谈判“陷入了一点僵局”。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在呢</b></blockquote></p><p> Much of this uncertainty can be attributed to the usual political horse-trading that goes into any significant piece of legislation. Most sensible New Yorkers -- even the politicians -- realize that the state is facing a&nbsp;budgetary chasm&nbsp;and desperately needs good tax revenue sources.</p><p><blockquote>这种不确定性在很大程度上可以归因于任何重要立法中常见的政治交易。大多数明智的纽约人——甚至是政治家——意识到该州正面临预算鸿沟，迫切需要良好的税收来源。</blockquote></p><p> At the end of the day, for all the political noise, New York seems to be barreling straight toward recreational legalization. This might ultimately be the factor driving the prices of Canadian&nbsp;pot companies&nbsp;down; after all, it's their American peers that will be able to immediately pounce on the New York market, not them.</p><p><blockquote>归根结底，尽管有所有的政治噪音，纽约似乎正在直奔娱乐合法化。这最终可能是推动加拿大大麻公司价格下跌的因素；毕竟，能够立即抢占纽约市场的是他们的美国同行，而不是他们。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why These Top Marijuana Stocks Got Slammed Tuesday<blockquote>为什么这些顶级大麻股票周二遭受重创</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy These Top Marijuana Stocks Got Slammed Tuesday<blockquote>为什么这些顶级大麻股票周二遭受重创</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-03-17 11:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It's about what's happening in a potentially powerful marijuana state.</p><p><blockquote>这是关于一个潜在强大的大麻州发生的事情。</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么事</b></blockquote></p><p> It was a terrible Tuesday for most marijuana stocks, particularly the Canadian ones.<b>Tilray</b>&nbsp;(NASDAQ:TLRY)&nbsp;sank by nearly 12%, while its partner-to-be&nbsp;<b>Aphria</b>&nbsp;(NASDAQ:APHA)&nbsp;fell by 9%.<b>Canopy Growth</b>&nbsp;(NASDAQ:CGC),<b>Aurora Cannabis</b>&nbsp;(NYSE:ACB),<b>Organigram Holdings</b>&nbsp;(NASDAQ:OGI), and&nbsp;<b>HEXO</b>&nbsp;(NYSE:HEXO)&nbsp;were close behind, sliding at rates from 4% to 7%.</p><p><blockquote>对于大多数大麻股票来说，这是一个糟糕的星期二，尤其是加拿大的大麻股票。<b>蒂尔雷</b>（纳斯达克股票代码：TLRY）下跌近 12%，而其未来的合作伙伴<b>阿弗里亚</b>（纳斯达克股票代码：APHA）下跌 9%。<b>冠层生长</b>（纳斯达克代码：CGC），<b>奥罗拉大麻</b>（纽约证券交易所代码：ACB），<b>组织结构图控股</b>（纳斯达克股票代码：OGI），以及<b>六角</b>（纽约证券交易所股票代码：HEXO）紧随其后，利率从 4% 下滑至 7%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> If there's one thing investors despise, it's uncertainty. Tuesday's big question mark was New York, which is considered by many weed-watchers to be the next likely state to legalize recreational marijuana.</p><p><blockquote>如果说投资者鄙视一件事，那就是不确定性。周二最大的问号是纽约，许多杂草观察家认为纽约是下一个可能将娱乐用大麻合法化的州。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/31e57ae152cd078baebb7ec2593604d8\" tg-width=\"2000\" tg-height=\"1125\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Yet on Tuesday, there were conflicting media reports about the state government's decision to flip the switch.</p><p><blockquote>然而在周二，关于州政府决定按下开关的媒体报道相互矛盾。</blockquote></p><p> The Albany-based&nbsp;<i>Times Union</i>, for example, published an article that day headlined \"Legislature nears deal on recreational marijuana legalization.\" Yet Marijuana Moment quoted state Senate majority leader Andrea Stewart-Cousins as saying negotiations over such legislation \"reached a little bit of an impasse.\"</p><p><blockquote>总部位于奥尔巴尼<i>时代联盟</i>例如，当天发表了一篇题为“立法机构即将就娱乐大麻合法化达成协议”的文章。然而，《大麻时刻》援引州参议院多数党领袖安德里亚·斯图尔特-考辛斯的话说，关于此类立法的谈判“陷入了一点僵局”。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在呢</b></blockquote></p><p> Much of this uncertainty can be attributed to the usual political horse-trading that goes into any significant piece of legislation. Most sensible New Yorkers -- even the politicians -- realize that the state is facing a&nbsp;budgetary chasm&nbsp;and desperately needs good tax revenue sources.</p><p><blockquote>这种不确定性在很大程度上可以归因于任何重要立法中常见的政治交易。大多数明智的纽约人——甚至是政治家——意识到该州正面临预算鸿沟，迫切需要良好的税收来源。</blockquote></p><p> At the end of the day, for all the political noise, New York seems to be barreling straight toward recreational legalization. This might ultimately be the factor driving the prices of Canadian&nbsp;pot companies&nbsp;down; after all, it's their American peers that will be able to immediately pounce on the New York market, not them.</p><p><blockquote>归根结底，尽管有所有的政治噪音，纽约似乎正在直奔娱乐合法化。这最终可能是推动加拿大大麻公司价格下跌的因素；毕竟，能够立即抢占纽约市场的是他们的美国同行，而不是他们。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/16/why-these-top-marijuana-stocks-got-slammed-today/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CGC":"Canopy Growth Corporation","ACB":"奥罗拉大麻公司","TLRY":"Tilray Inc.","APHA":"Aphria Inc.","OGI":"ORGANIGRAM HOLD"},"source_url":"https://www.fool.com/investing/2021/03/16/why-these-top-marijuana-stocks-got-slammed-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140620694","content_text":"It's about what's happening in a potentially powerful marijuana state.\nWhat happened\nIt was a terrible Tuesday for most marijuana stocks, particularly the Canadian ones.Tilray (NASDAQ:TLRY) sank by nearly 12%, while its partner-to-be Aphria (NASDAQ:APHA) fell by 9%.Canopy Growth (NASDAQ:CGC),Aurora Cannabis (NYSE:ACB),Organigram Holdings (NASDAQ:OGI), and HEXO (NYSE:HEXO) were close behind, sliding at rates from 4% to 7%.\nSo what\nIf there's one thing investors despise, it's uncertainty. Tuesday's big question mark was New York, which is considered by many weed-watchers to be the next likely state to legalize recreational marijuana.\nIMAGE SOURCE: GETTY IMAGES.\nYet on Tuesday, there were conflicting media reports about the state government's decision to flip the switch.\nThe Albany-based Times Union, for example, published an article that day headlined \"Legislature nears deal on recreational marijuana legalization.\" Yet Marijuana Moment quoted state Senate majority leader Andrea Stewart-Cousins as saying negotiations over such legislation \"reached a little bit of an impasse.\"\nNow what\nMuch of this uncertainty can be attributed to the usual political horse-trading that goes into any significant piece of legislation. Most sensible New Yorkers -- even the politicians -- realize that the state is facing a budgetary chasm and desperately needs good tax revenue sources.\nAt the end of the day, for all the political noise, New York seems to be barreling straight toward recreational legalization. This might ultimately be the factor driving the prices of Canadian pot companies down; after all, it's their American peers that will be able to immediately pounce on the New York market, not them.","news_type":1,"symbols_score_info":{"CGC":0.9,"TLRY":0.9,"ACB":0.9,"HEXO":0.9,"APHA":0.9,"OGI":0.9}},"isVote":1,"tweetType":1,"viewCount":4070,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328253296,"gmtCreate":1615533832515,"gmtModify":1703490544829,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576547785025400","authorIdStr":"3576547785025400"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328253296","repostId":"2118993441","repostType":4,"isVote":1,"tweetType":1,"viewCount":1959,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321570207,"gmtCreate":1615456444609,"gmtModify":1703489284909,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576547785025400","authorIdStr":"3576547785025400"},"themes":[],"title":"","htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/321570207","repostId":"2118988502","repostType":4,"isVote":1,"tweetType":1,"viewCount":2712,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320685653,"gmtCreate":1615093028872,"gmtModify":1703484684476,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576547785025400","authorIdStr":"3576547785025400"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>[开心]&nbsp;","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>[开心]&nbsp;","text":"$Tiger Brokers(TIGR)$[开心]","images":[{"img":"https://static.tigerbbs.com/07c6eb2354dc446f227661766b3cad72","width":"1170","height":"2026"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/320685653","isVote":1,"tweetType":1,"viewCount":4131,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"hots":[{"id":349465844,"gmtCreate":1617632876988,"gmtModify":1634297421389,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576547785025400","idStr":"3576547785025400"},"themes":[],"title":"","htmlText":"Great&nbsp;","listText":"Great&nbsp;","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/349465844","repostId":"1182378447","repostType":4,"isVote":1,"tweetType":1,"viewCount":2459,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340164930,"gmtCreate":1617358532620,"gmtModify":1634521255630,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576547785025400","idStr":"3576547785025400"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/340164930","repostId":"2124732330","repostType":4,"isVote":1,"tweetType":1,"viewCount":2663,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321570207,"gmtCreate":1615456444609,"gmtModify":1703489284909,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576547785025400","idStr":"3576547785025400"},"themes":[],"title":"","htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/321570207","repostId":"2118988502","repostType":4,"isVote":1,"tweetType":1,"viewCount":2712,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352061357,"gmtCreate":1616832956679,"gmtModify":1634523773388,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576547785025400","idStr":"3576547785025400"},"themes":[],"title":"","htmlText":"[开心]&nbsp;","listText":"[开心]&nbsp;","text":"[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/352061357","repostId":"1165077583","repostType":4,"repost":{"id":"1165077583","kind":"news","pubTimestamp":1616768365,"share":"https://www.laohu8.com/m/news/1165077583?lang=zh_CN&edition=full","pubTime":"2021-03-26 22:19","market":"us","language":"en","title":"Earnings Forecasts Are Low. What That Means for Stocks<blockquote>盈利预测较低。这对股票意味着什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165077583","media":"Barrons","summary":"Analysts have been racing to revise earnings estimates upward of late, but those projections could e","content":"<p>Analysts have been racing to revise earnings estimates upward of late, but those projections could easily still be too low. That could mean more upside for stocks even though the market has been hot recently.</p><p><blockquote>分析师最近一直在竞相上调盈利预期，但这些预测很可能仍然太低。尽管最近市场很火爆，但这可能意味着股市有更多上涨空间。</blockquote></p><p> Earnings estimates for 2021 for the average&nbsp;S&amp;P 500&nbsp;company have been revised higher by 8% in the past six months, according to FactSet data.Covid-19 vaccines have found arms at a fast pace, enabling states to reopen, which has been met by pent-up demand resulting fromtrillions of dollars of fiscal stimulus. Given that, revisions upward may now be less frequent.</p><p><blockquote>FactSet 数据显示，过去六个月，标普500普通公司 2021 年的盈利预期上调了 8%。 Covid-19 疫苗迅速找到了武器，使各州能够重新开放，这得到了被压抑的需求的满足。数万亿美元的财政刺激。有鉴于此，向上修正现在可能不那么频繁了。</blockquote></p><p> But there is indeed more upside to earnings, according to analysis from&nbsp;Credit Suisse&nbsp;strategists. For every percentage point of additional gross domestic product growth, revenue growth on the S&amp;P 500 is roughly double, historically, Credit Suisse said. With GDP expected to grow just over 7% in 2021—the fastest clip in decades as the economy normalizes after the lockdowns of 2020—S&amp;P 500 revenues could grow about 14%.</p><p><blockquote>但根据瑞士信贷策略师的分析，盈利确实还有更大的上升空间。瑞士信贷表示，从历史上看，国内生产总值每增长一个百分点，标普500的收入增长就大约翻一番。预计 2021 年 GDP 增长略高于 7%——随着 2020 年封锁后经济恢复正常，这是几十年来最快的增幅——标普500收入可能增长约 14%。</blockquote></p><p> But analysts only expect aggregate sales growth on the index of around 9% for the year, according to FactSet data. Considering current revenue estimates, Credit Suisse’s analysis implies roughly 4% upside to sales projections.</p><p><blockquote>但根据 FactSet 数据，分析师预计今年该指数的总销售额增长率仅为 9% 左右。考虑到目前的收入预测，瑞士信贷的分析表明，销售预测有大约 4% 的上涨空间。</blockquote></p><p> Earnings would have even more potential to rise. For many S&amp;P 500 companies—think of manufacturers, retail businesses, and food-chain operators—increased sales often mean even higher profit growth. That is because those companies have high operating leverage: A significant portion of their costs don’t vary much, so when sales rise, profit margins expand and earnings grow robustly.</p><p><blockquote>盈利将有更大的增长潜力。对于许多标普500公司来说——想想制造商、零售企业和食品连锁店运营商——销售额的增加通常意味着更高的利润增长。这是因为这些公司的运营杠杆很高： 它们的很大一部分成本变化不大，因此当销售额上升时，利润率就会扩大，收益也会强劲增长。</blockquote></p><p> Credit Suisse is forecasting EPS growth of 34% in 2021, higher than the consensus estimate of 25%.</p><p><blockquote>瑞士信贷预计 2021 年每股收益将增长 34%，高于市场普遍预期的 25%。</blockquote></p><p> Would higher expectations pump stock prices upward significantly? One challenge is that stocks already reflect a high degree of optimism. The S&amp;P 500 is up almost 20% since late September,when investors resumed buying up assets most sensitive to changes in the economy.</p><p><blockquote>更高的预期会大幅推高股价吗？一个挑战是股市已经反映出高度的乐观情绪。自9月下旬以来，标普500已上涨近20%，当时投资者恢复购买对经济变化最敏感的资产。</blockquote></p><p> That has brought valuations to fairly high levels, with the average stock on the index trading at just under 22 times the per-share earnings expected for next year, compared with the long-term average of 15 times.</p><p><blockquote>这使得估值达到了相当高的水平，该指数中股票的平均交易价格略低于明年预期每股收益的 22 倍，而长期平均水平为 15 倍。</blockquote></p><p> But&nbsp;interest rates have recently been on the rise,which makes stocks less attractive.Many on Wall Street see the S&amp;P 500 trading down to 20 times the earnings expected for next year.While expectations of bigger profits could help stocks, the gain would be partially offset if shares trade at a lower multiple of forecasted earnings.</p><p><blockquote>但最近利率一直在上升，这使得股票的吸引力下降。华尔街许多人认为标普500明年盈利预期跌至 20 倍。虽然更大利润的预期可能会帮助股市，但如果股市的市盈率低于预测市盈率，则涨幅将被部分抵消。</blockquote></p><p> The most economically sensitive stocks are some of the best ones to play the earnings story.Cyclicals have run hot,but some still look good.</p><p><blockquote>对经济最敏感的股票是影响盈利故事的最佳股票.周期性股票已经火爆， 但有些看起来仍然不错。</blockquote></p><p> Norfolk Southern&nbsp;(ticker: NSC) could achieve earnings per share of $16 by 2023,Citigroup&nbsp;analysts wrote in a note. That would put the rail and transportation company on a path to grow earnings at a 20% clip for the next three years, up from the 13% FactSet data indicates Wall Street analysts currently expect. While the stock is trading above its average price/earnings ratio for the past five years, the Citi analysts still see room for a 37% gain in the shares.</p><p><blockquote>花旗集团分析师在一份报告中写道，诺福克南方航空（股票代码：NSC）到 2023 年每股收益可能达到 16 美元。这将使这家铁路和运输公司未来三年的盈利增长率达到 20%，高于华尔街分析师目前预期的 13%。尽管该股的交易价格高于过去五年的平均市盈率，但花旗分析师仍然认为该股还有 37% 的上涨空间。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Earnings Forecasts Are Low. What That Means for Stocks<blockquote>盈利预测较低。这对股票意味着什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEarnings Forecasts Are Low. What That Means for Stocks<blockquote>盈利预测较低。这对股票意味着什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-26 22:19</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Analysts have been racing to revise earnings estimates upward of late, but those projections could easily still be too low. That could mean more upside for stocks even though the market has been hot recently.</p><p><blockquote>分析师最近一直在竞相上调盈利预期，但这些预测很可能仍然太低。尽管最近市场很火爆，但这可能意味着股市有更多上涨空间。</blockquote></p><p> Earnings estimates for 2021 for the average&nbsp;S&amp;P 500&nbsp;company have been revised higher by 8% in the past six months, according to FactSet data.Covid-19 vaccines have found arms at a fast pace, enabling states to reopen, which has been met by pent-up demand resulting fromtrillions of dollars of fiscal stimulus. Given that, revisions upward may now be less frequent.</p><p><blockquote>FactSet 数据显示，过去六个月，标普500普通公司 2021 年的盈利预期上调了 8%。 Covid-19 疫苗迅速找到了武器，使各州能够重新开放，这得到了被压抑的需求的满足。数万亿美元的财政刺激。有鉴于此，向上修正现在可能不那么频繁了。</blockquote></p><p> But there is indeed more upside to earnings, according to analysis from&nbsp;Credit Suisse&nbsp;strategists. For every percentage point of additional gross domestic product growth, revenue growth on the S&amp;P 500 is roughly double, historically, Credit Suisse said. With GDP expected to grow just over 7% in 2021—the fastest clip in decades as the economy normalizes after the lockdowns of 2020—S&amp;P 500 revenues could grow about 14%.</p><p><blockquote>但根据瑞士信贷策略师的分析，盈利确实还有更大的上升空间。瑞士信贷表示，从历史上看，国内生产总值每增长一个百分点，标普500的收入增长就大约翻一番。预计 2021 年 GDP 增长略高于 7%——随着 2020 年封锁后经济恢复正常，这是几十年来最快的增幅——标普500收入可能增长约 14%。</blockquote></p><p> But analysts only expect aggregate sales growth on the index of around 9% for the year, according to FactSet data. Considering current revenue estimates, Credit Suisse’s analysis implies roughly 4% upside to sales projections.</p><p><blockquote>但根据 FactSet 数据，分析师预计今年该指数的总销售额增长率仅为 9% 左右。考虑到目前的收入预测，瑞士信贷的分析表明，销售预测有大约 4% 的上涨空间。</blockquote></p><p> Earnings would have even more potential to rise. For many S&amp;P 500 companies—think of manufacturers, retail businesses, and food-chain operators—increased sales often mean even higher profit growth. That is because those companies have high operating leverage: A significant portion of their costs don’t vary much, so when sales rise, profit margins expand and earnings grow robustly.</p><p><blockquote>盈利将有更大的增长潜力。对于许多标普500公司来说——想想制造商、零售企业和食品连锁店运营商——销售额的增加通常意味着更高的利润增长。这是因为这些公司的运营杠杆很高： 它们的很大一部分成本变化不大，因此当销售额上升时，利润率就会扩大，收益也会强劲增长。</blockquote></p><p> Credit Suisse is forecasting EPS growth of 34% in 2021, higher than the consensus estimate of 25%.</p><p><blockquote>瑞士信贷预计 2021 年每股收益将增长 34%，高于市场普遍预期的 25%。</blockquote></p><p> Would higher expectations pump stock prices upward significantly? One challenge is that stocks already reflect a high degree of optimism. The S&amp;P 500 is up almost 20% since late September,when investors resumed buying up assets most sensitive to changes in the economy.</p><p><blockquote>更高的预期会大幅推高股价吗？一个挑战是股市已经反映出高度的乐观情绪。自9月下旬以来，标普500已上涨近20%，当时投资者恢复购买对经济变化最敏感的资产。</blockquote></p><p> That has brought valuations to fairly high levels, with the average stock on the index trading at just under 22 times the per-share earnings expected for next year, compared with the long-term average of 15 times.</p><p><blockquote>这使得估值达到了相当高的水平，该指数中股票的平均交易价格略低于明年预期每股收益的 22 倍，而长期平均水平为 15 倍。</blockquote></p><p> But&nbsp;interest rates have recently been on the rise,which makes stocks less attractive.Many on Wall Street see the S&amp;P 500 trading down to 20 times the earnings expected for next year.While expectations of bigger profits could help stocks, the gain would be partially offset if shares trade at a lower multiple of forecasted earnings.</p><p><blockquote>但最近利率一直在上升，这使得股票的吸引力下降。华尔街许多人认为标普500明年盈利预期跌至 20 倍。虽然更大利润的预期可能会帮助股市，但如果股市的市盈率低于预测市盈率，则涨幅将被部分抵消。</blockquote></p><p> The most economically sensitive stocks are some of the best ones to play the earnings story.Cyclicals have run hot,but some still look good.</p><p><blockquote>对经济最敏感的股票是影响盈利故事的最佳股票.周期性股票已经火爆， 但有些看起来仍然不错。</blockquote></p><p> Norfolk Southern&nbsp;(ticker: NSC) could achieve earnings per share of $16 by 2023,Citigroup&nbsp;analysts wrote in a note. That would put the rail and transportation company on a path to grow earnings at a 20% clip for the next three years, up from the 13% FactSet data indicates Wall Street analysts currently expect. While the stock is trading above its average price/earnings ratio for the past five years, the Citi analysts still see room for a 37% gain in the shares.</p><p><blockquote>花旗集团分析师在一份报告中写道，诺福克南方航空（股票代码：NSC）到 2023 年每股收益可能达到 16 美元。这将使这家铁路和运输公司未来三年的盈利增长率达到 20%，高于华尔街分析师目前预期的 13%。尽管该股的交易价格高于过去五年的平均市盈率，但花旗分析师仍然认为该股还有 37% 的上涨空间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/why-forecasts-for-earnings-are-low-and-what-that-means-for-stocks-51616758201?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/why-forecasts-for-earnings-are-low-and-what-that-means-for-stocks-51616758201?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165077583","content_text":"Analysts have been racing to revise earnings estimates upward of late, but those projections could easily still be too low. That could mean more upside for stocks even though the market has been hot recently.\nEarnings estimates for 2021 for the average S&P 500 company have been revised higher by 8% in the past six months, according to FactSet data.Covid-19 vaccines have found arms at a fast pace, enabling states to reopen, which has been met by pent-up demand resulting fromtrillions of dollars of fiscal stimulus. Given that, revisions upward may now be less frequent.\nBut there is indeed more upside to earnings, according to analysis from Credit Suisse strategists. For every percentage point of additional gross domestic product growth, revenue growth on the S&P 500 is roughly double, historically, Credit Suisse said. With GDP expected to grow just over 7% in 2021—the fastest clip in decades as the economy normalizes after the lockdowns of 2020—S&P 500 revenues could grow about 14%.\nBut analysts only expect aggregate sales growth on the index of around 9% for the year, according to FactSet data. Considering current revenue estimates, Credit Suisse’s analysis implies roughly 4% upside to sales projections.\nEarnings would have even more potential to rise. For many S&P 500 companies—think of manufacturers, retail businesses, and food-chain operators—increased sales often mean even higher profit growth. That is because those companies have high operating leverage: A significant portion of their costs don’t vary much, so when sales rise, profit margins expand and earnings grow robustly.\nCredit Suisse is forecasting EPS growth of 34% in 2021, higher than the consensus estimate of 25%.\nWould higher expectations pump stock prices upward significantly? One challenge is that stocks already reflect a high degree of optimism. The S&P 500 is up almost 20% since late September,when investors resumed buying up assets most sensitive to changes in the economy.\nThat has brought valuations to fairly high levels, with the average stock on the index trading at just under 22 times the per-share earnings expected for next year, compared with the long-term average of 15 times.\nBut interest rates have recently been on the rise,which makes stocks less attractive.Many on Wall Street see the S&P 500 trading down to 20 times the earnings expected for next year.While expectations of bigger profits could help stocks, the gain would be partially offset if shares trade at a lower multiple of forecasted earnings.\nThe most economically sensitive stocks are some of the best ones to play the earnings story.Cyclicals have run hot,but some still look good.\nNorfolk Southern (ticker: NSC) could achieve earnings per share of $16 by 2023,Citigroup analysts wrote in a note. That would put the rail and transportation company on a path to grow earnings at a 20% clip for the next three years, up from the 13% FactSet data indicates Wall Street analysts currently expect. While the stock is trading above its average price/earnings ratio for the past five years, the Citi analysts still see room for a 37% gain in the shares.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2789,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":358033173,"gmtCreate":1616638773992,"gmtModify":1634524790457,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576547785025400","idStr":"3576547785025400"},"themes":[],"title":"","htmlText":"[难过]&nbsp;","listText":"[难过]&nbsp;","text":"[难过]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/358033173","repostId":"1132657904","repostType":4,"repost":{"id":"1132657904","kind":"news","pubTimestamp":1616632329,"share":"https://www.laohu8.com/m/news/1132657904?lang=zh_CN&edition=full","pubTime":"2021-03-25 08:32","market":"us","language":"en","title":"GameStop shares fall 33% on lack of transformation detail, possible share sale<blockquote>由于缺乏转型细节和可能出售股票，游戏驿站股价下跌33%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132657904","media":"cnbc","summary":"KEY POINTS\n\nGameStop missed on the top and bottom lines of its quarterly results, but e-commerce sal","content":"<p><div> KEY POINTS  GameStop missed on the top and bottom lines of its quarterly results, but e-commerce sales jumped 175% last quarter and accounted for more than a third of its sales in the period. The ...</p><p><blockquote><div>游戏驿站错过了季度业绩的顶线和底线，但电子商务销售额上季度增长了175%，占同期销售额的三分之一以上。这...</div></blockquote></p><p>  <a href=\"https://www.cnbc.com/2021/03/23/gamestop-shares-rise-on-e-commerce-sales-jump-new-coo.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.cnbc.com/2021/03/23/gamestop-shares-rise-on-e-commerce-sales-jump-new-coo.html\">网页连接</a></blockquote></p><p></p>","source":"lsy1609915699154","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop shares fall 33% on lack of transformation detail, possible share sale<blockquote>由于缺乏转型细节和可能出售股票，游戏驿站股价下跌33%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop shares fall 33% on lack of transformation detail, possible share sale<blockquote>由于缺乏转型细节和可能出售股票，游戏驿站股价下跌33%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnbc</strong><span class=\"h-time small\">2021-03-25 08:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> KEY POINTS  GameStop missed on the top and bottom lines of its quarterly results, but e-commerce sales jumped 175% last quarter and accounted for more than a third of its sales in the period. The ...</p><p><blockquote><div>游戏驿站错过了季度业绩的顶线和底线，但电子商务销售额上季度增长了175%，占同期销售额的三分之一以上。这...</div></blockquote></p><p>  <a href=\"https://www.cnbc.com/2021/03/23/gamestop-shares-rise-on-e-commerce-sales-jump-new-coo.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.cnbc.com/2021/03/23/gamestop-shares-rise-on-e-commerce-sales-jump-new-coo.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.cnbc.com/2021/03/23/gamestop-shares-rise-on-e-commerce-sales-jump-new-coo.html\">cnbc</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.cnbc.com/2021/03/23/gamestop-shares-rise-on-e-commerce-sales-jump-new-coo.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132657904","content_text":"KEY POINTS\n\nGameStop missed on the top and bottom lines of its quarterly results, but e-commerce sales jumped 175% last quarter and accounted for more than a third of its sales in the period.\nThe brick-and-mortar video game retailer named former Amazon and Google executive Jenna Owens as its new chief operating officer.\nGameStop also acknowledged in a filing that it was considering selling additional equity shares.\nDuring a much anticipated earnings conference call that at one point reached maximum capacity, the company declined to answer questions.\n\nInvestors finally got a look atGameStop's fundamentals following a Reddit-fueled trading frenzy earlier this year and were left wanting more from the video game retailer.\nHere's what the company announced after the bell Tuesday.\n\nIt released fiscal fourth-quarter results that missedWall Street's estimates on the top and bottom lines.\nIn its latest executive shake-up, the company named former Amazon and Google executive Jenna Owens as its new chief operating officer.\nIn a hint of the transformation that’s got some investors excited about the stock, the company said global e-commerce sales jumped 175% last quarter and accounted for more than a third of its sales in the period.\nGameStop also acknowledged in a filing that it was considering selling additional equity shares to fund its transformation.\nDuring a much anticipated earnings conference call that at one point reached maximum capacity, the company declined to answer questions.\n\nShares tanked 33.8% on Wednesday on the potential share sale and disappointment that a more detailed transformation wasn’t unveiled.\n“The highly anticipated 4Q20 earnings report from GameStop was a bit anti-climatic,” wrote Telsey Advisory Group analyst Joseph Feldman. “While EPS met the consensus, it was completely driven by a tax benefit that offset much worse than expected operating profit. Moreover, while everyone was expecting big news about some massive digital transformation in the mold of the new tech-oriented board members, nothing was said.”\n“In fact, the company did not even take questions on the earnings conference call,” added Feldman. “As for the much anticipated strategic plan, it sounded like every other retailer.”\nFor the fiscal period ended January 2021, GameStop earned $1.34 per share on revenue of $2.12 billion. Wall Street was expecting earnings per share of $1.35 on revenue of $2.21 billion, according to Refinitiv’s average of the six analysts.\nGameStop’s fiscal fourth-quarter earnings typically make up the majority of the company’s yearly earnings, boosted by holiday sales. The company’s same-store sales rose 6.5% last quarter.\nThe company said it is continuing to suspend guidance, but is updating its fulfillment operations to boost the speed of its delivery and services. GameStop CEO George Sherman also revealed that February comparable store sales increased 23%, thanks to strength in hardware sales worldwide.\nAlong with the mania-fueled trading, GameStop’s stock has responded positively on new developments for the company in the past five months like the appointment ofChewyco-founder Ryan Cohen to GameStop’s board and a focus on GameStop’s technology and e-commerce transition.\nGameStop said after the bell that it continues to seek out executive talent with e-commerce, retail and technology expertise to bolster its turnaround. Sherman said on the conference call that GameStop was “focused on transforming into a customer-obsessed technology company that excites gamers.”\nEarlier this month, GameStopannounced it tapped Cohen to lead its shift to e-commerce. He is serving as chairman of a special committee formed by GameStop’s board to help its transformation. Board members Alan Attal, Chewy’s former top operations executive, and Kurt Wolf, chief investment officer of Hestia Capital Management, also serve on the committee.\n\nEarlier this year, an epic short squeeze in the company’s stock shocked Wall Street and drew attention to an emerging class of retail investor on social media platforms like Reddit. GameStop’s share price skyrocketed to $483 per share, and subsequently lost 90% of its value. The controversy drew the attention of Wall Street and Washington.\nGameStop still has a market capitalization of nearly $13 billion through Tuesday’s close, 10 times the $1.3 billion market value the stock had at the end of last year. A year ago, GameStop’s market capitalization was $245 million.\nNaming Owens as COO is the latest in a series of recent personnel moves, but it remains to be seen whether these moves and the sparse detail given Tuesday night will satisfy investors that have bid up the stock to such high levels.\nTelsey’s Feldman lowered his price target on the shares to $30 from $33 following the results. The new target would represent a decline of more than 80% from Tuesday’s close.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":4235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":320685653,"gmtCreate":1615093028872,"gmtModify":1703484684476,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576547785025400","idStr":"3576547785025400"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>[开心]&nbsp;","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>[开心]&nbsp;","text":"$Tiger Brokers(TIGR)$[开心]","images":[{"img":"https://static.tigerbbs.com/07c6eb2354dc446f227661766b3cad72","width":"1170","height":"2026"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/320685653","isVote":1,"tweetType":1,"viewCount":4131,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":356001044,"gmtCreate":1616737102988,"gmtModify":1634524277787,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576547785025400","idStr":"3576547785025400"},"themes":[],"title":"","htmlText":"Yeah","listText":"Yeah","text":"Yeah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/356001044","repostId":"1100799979","repostType":4,"repost":{"id":"1100799979","kind":"news","pubTimestamp":1616730844,"share":"https://www.laohu8.com/m/news/1100799979?lang=zh_CN&edition=full","pubTime":"2021-03-26 11:54","market":"us","language":"en","title":"Stay bullish on the stock market in the face of some fresh sell signals<blockquote>面对一些新的卖出信号，保持看涨股市</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100799979","media":"marketwatch","summary":"The stock market continues to be led by the Dow Jones Industrial Average,with NASDAQ lagging noticea","content":"<p>The stock market continues to be led by the Dow Jones Industrial Average,with NASDAQ&nbsp;lagging noticeably behind, and the S&amp;P 500 indexcaught somewhere in the middle. This is not a good scenario for stocks.</p><p><blockquote>股市继续以道琼斯工业平均指数为主，纳斯达克明显落后，标普500指数介于中间。这对股票来说不是一个好的情况。</blockquote></p><p> There is an old adage that it is not good for the market if the Generals are out in front of the Army (the “Generals” being General Motors, General Electric, etc. – i.e., the mainstays of the Dow of days gone by; the “Army” being the main body of stocks). The point is that if the advance is narrow and limited to the largest institutional stocks, then trouble lies ahead.</p><p><blockquote>有一句古老的谚语说，如果将军走在军队前面，对市场不利（“将军”指的是通用汽车、通用电气等——即过去道琼斯指数的中流砥柱；“军队”指的是股票的主体）。关键是，如果涨幅很小，并且仅限于最大的机构股，那么麻烦就在前方。</blockquote></p><p> It is a good point, but too vague to implement as a trading system. We would normally see that reflected in breadth (which is now giving a sell signal) and new highs vs. new lows (which is also on a sell signal).</p><p><blockquote>这是一个很好的观点，但太模糊了，无法作为交易系统来实现。我们通常会看到这反映在宽度（现在给出了卖出信号）和新高与新低（也给出了卖出信号）上。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c46ab28413e089cb3da5f328292ad4e7\" tg-width=\"620\" tg-height=\"465\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米伦</blockquote></p><p> One positive thing is that the SPX chart is still in an uptrend, as the moving averages and “modified Bollinger Bands” are still trending higher. However, if the S&amp;P breaks through support at 3,870, that uptrend would be called into question. As one can see from the accompanying chart, there is further support near 3,725. If that is broken, the bears would clearly be in charge. Meanwhile, the recent all-time highs, at 3,985, represent resistance.</p><p><blockquote>一个积极的方面是，SPX 图表仍处于上升趋势，因为移动平均线和 “修正布林带 ”仍在走高。然而，如果标准普尔突破3870点的支撑位，这种上升趋势将受到质疑。从随附的图表可以看出，3,725附近还有进一步的支撑。如果这被打破，空头显然会占据主导地位。与此同时，最近的历史高点 3,985 点代表了阻力位。</blockquote></p><p> What is different today compared to previous minor pullbacks is that several of our internal indicators have weakened considerably and are on sell signals: breadth, new highs vs. new lows, and equity-only put-call ratios.</p><p><blockquote>与之前的小幅回调相比，今天的不同之处在于，我们的几个内部指标已经显着减弱，并且处于卖出信号：广度、新高与新低以及仅股票的看跌看涨期权比率。</blockquote></p><p> Equity-only put-call ratios remain on sell signals that were first generated in mid-February and that have strengthened by beginning to rise rapidly.&nbsp;They are still relatively low on their charts, meaning that there is a lot of room to move higher before one might say they are “oversold.”</p><p><blockquote>仅股票的看跌期权与看涨期权比率仍处于 2 月中旬首次产生的卖出信号之下，随着卖出信号的开始迅速上升，卖出信号得到加强。它们在图表上仍然相对较低，这意味着在人们说它们 “超卖 ”之前，还有很大的上涨空间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bfd689fa18eceb515c752afa1cb024f7\" tg-width=\"620\" tg-height=\"465\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN<img src=\"https://static.tigerbbs.com/9216bd23616405d8464aa44f5baea259\" tg-width=\"620\" tg-height=\"460\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米伦劳伦斯·麦克米伦</blockquote></p><p> Breadth has deteriorated badly over the past two weeks – especially this last week. Sell signals were generated by the breadth oscillators on March 18 and March 19, and those oscillators have plunged since then.&nbsp;The “stocks only” breadth oscillator has already descended into oversold territory, but “oversold doesn’t mean buy.”</p><p><blockquote>在过去的两周里，广度严重恶化——尤其是上周。3 月 18 日和 3 月 19 日，宽度振荡指标产生了卖出信号，此后这些振荡指标一直在暴跌。“仅限股票 ”宽度振荡指标已经跌入超卖区域，但 “超卖并不意味着买入”。</blockquote></p><p> The NYSE breadth oscillator is also moving lower, but at a much slower pace, since the more positive “Dow-type” stocks have a heavier weight in that oscillator.</p><p><blockquote>纽约证券交易所宽度振荡指标也在走低，但速度要慢得多，因为更积极的 “道琼斯型 ”股票在该振荡指标中的权重更重。</blockquote></p><p> Meanwhile, cumulative breadth has fallen sharply as well. That is not a signal, but it is worth noting that the “stocks only” cumulative advance-decline line has fallen almost 10,000 issues since the cumulative A-D line reached an all-time high on March 15 (that is, over that time, summing the daily figures, declines have outnumbered advances by 10,000 issues).</p><p><blockquote>与此同时，累计宽度也大幅下降。这并不是一个信号，但值得注意的是，自 3 月 15 日累计 A-D 线创下历史新高以来，“仅股票 ”累计上涨-下跌线已经下跌了近 10,000 期（也就是说，在此期间，将每日数据相加，下跌数量超过上涨数量 10,000 期）。</blockquote></p><p> A significant development has also occurred in the case of the “new highs vs. new lows” indicator. On March 23, new 52-week lows outnumbered new 52-week highs andnew 52-week lows numbered more than 100 issues — the first time that has happened since last May.&nbsp;That was the case again on March 24.&nbsp;That places this indicator on a sell signal until new highs take control once again.</p><p><blockquote>“新高与新低 ”指标也有了重大进展。3月23日，52周新低的数量超过了52周新高，52周新低的数量超过了100个——这是自去年5月以来的第一次。3月24日又出现了这种情况。这使得该指标处于卖出信号，直到新高再次占据主导地位。</blockquote></p><p> Countering the negativity of put-call ratios, breadth, and new highs vs. new lows, is the fact that the volatility indicators still remain generally bullish. VIX has not risen substantially (yet), so the “spike peak” buy signal of March 4 remains in place.</p><p><blockquote>与看跌看涨期权比率、宽度以及新高与新低的负面影响相反的是，波动性指标仍然普遍看涨。VIX 尚未大幅上涨，因此 3 月 4 日的 “尖峰 ”买入信号仍然有效。</blockquote></p><p> Moreover, the trend of VIXVIX,-6.56%continues to be lower, as both VIX and its 20-day moving average are below the declining 200-day moving average. In fact, on March 22, VIX closed at its lowest price (18.88) since February 2020.</p><p><blockquote>此外，VIXVIX,-6.56%的走势继续走低，因为VIX及其20日移动平均线均低于下降的200日移动平均线。事实上，3月22日，VIX收盘价为2020年2月以来的最低价（18.88）。</blockquote></p><p> If VIX should continue to fall below there, it would be a bullish sign for stocks.</p><p><blockquote>如果 VIX 继续跌破该水平，这对股市来说将是一个看涨信号。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c5d40b1aedd4e9457306d25814439c92\" tg-width=\"620\" tg-height=\"465\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米伦</blockquote></p><p> As we’ve noted previously, the fact that VIX has remained so high all during the huge rally over the past year has been a worrisome sign for many traders. But the traders that were keeping VIX higher were actually correct, because realized volatility of SPX (i.e., its 20-day historical volatility) has been just below 20 since early March. Thus, realized volatility rose to meet implied volatility, rather than the other way around (which is more often the case).</p><p><blockquote>正如我们之前指出的，VIX 在过去一年的大幅反弹中一直保持在如此高的水平，这对许多交易者来说是一个令人担忧的信号。但维持 VIX 走高的交易员实际上是正确的，因为自 3 月初以来，SPX 的实现波动率（即其 20 天历史波动率）一直略低于 20。因此，已实现波动率的上升是为了满足隐含波动率，而不是相反（这种情况更常见）。</blockquote></p><p> Now, if one wants to make the case that it is worrisome to see both forms of volatility this high, then so be it. But there is no longer any significant difference between the S&amp;P’s realized and implied volatility.</p><p><blockquote>现在，如果有人想证明看到这两种形式的波动性如此之高令人担忧，那就这样吧。但标准普尔的实际波动率和隐含波动率之间已不再存在显著差异。</blockquote></p><p></p><p> The construct of volatility derivatives has remained bullish throughout.&nbsp;VIX futures are all trading at premiums to VIX, and the term structure slopes upward through the coming summer. Similarly, the term structure of the CBOE Volatility Indices slopes upward through the next six months as well.</p><p><blockquote>波动性衍生品的结构自始至终保持看涨态势。VIX 期货交易价格均高于 VIX，期限结构在即将到来的夏季呈上升趋势。同样，芝加哥期权交易所波动率指数的期限结构在未来六个月也呈上升趋势。</blockquote></p><p> The first sign of a negative reversal here would be if the April VIX futures traded above the price of May VIX futures.</p><p><blockquote>负面反转的第一个迹象是 4 月份 VIX 期货价格高于 5 月份 VIX 期货价格。</blockquote></p><p> Near-term deterioration in some internal indicators is certainly a cause for worry, and small countertrend bearish positions can be taken because of that. However, the S&amp;P’s trend is still higher, and the trend of VIX is still lower – both bullish factors. So we still maintaining a “core” bullish position until those two trends are broken.</p><p><blockquote>一些内部指标的近期恶化当然是一个令人担忧的原因，因此可以采取小的逆势看跌头寸。然而，标准普尔指数的趋势仍然较高，而VIX指数的趋势仍然较低--这两个因素都是看涨因素。因此，在这两个趋势被打破之前，我们仍维持 “核心 ”看涨头寸。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stay bullish on the stock market in the face of some fresh sell signals<blockquote>面对一些新的卖出信号，保持看涨股市</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStay bullish on the stock market in the face of some fresh sell signals<blockquote>面对一些新的卖出信号，保持看涨股市</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-26 11:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The stock market continues to be led by the Dow Jones Industrial Average,with NASDAQ&nbsp;lagging noticeably behind, and the S&amp;P 500 indexcaught somewhere in the middle. This is not a good scenario for stocks.</p><p><blockquote>股市继续以道琼斯工业平均指数为主，纳斯达克明显落后，标普500指数介于中间。这对股票来说不是一个好的情况。</blockquote></p><p> There is an old adage that it is not good for the market if the Generals are out in front of the Army (the “Generals” being General Motors, General Electric, etc. – i.e., the mainstays of the Dow of days gone by; the “Army” being the main body of stocks). The point is that if the advance is narrow and limited to the largest institutional stocks, then trouble lies ahead.</p><p><blockquote>有一句古老的谚语说，如果将军走在军队前面，对市场不利（“将军”指的是通用汽车、通用电气等——即过去道琼斯指数的中流砥柱；“军队”指的是股票的主体）。关键是，如果涨幅很小，并且仅限于最大的机构股，那么麻烦就在前方。</blockquote></p><p> It is a good point, but too vague to implement as a trading system. We would normally see that reflected in breadth (which is now giving a sell signal) and new highs vs. new lows (which is also on a sell signal).</p><p><blockquote>这是一个很好的观点，但太模糊了，无法作为交易系统来实现。我们通常会看到这反映在宽度（现在给出了卖出信号）和新高与新低（也给出了卖出信号）上。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c46ab28413e089cb3da5f328292ad4e7\" tg-width=\"620\" tg-height=\"465\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米伦</blockquote></p><p> One positive thing is that the SPX chart is still in an uptrend, as the moving averages and “modified Bollinger Bands” are still trending higher. However, if the S&amp;P breaks through support at 3,870, that uptrend would be called into question. As one can see from the accompanying chart, there is further support near 3,725. If that is broken, the bears would clearly be in charge. Meanwhile, the recent all-time highs, at 3,985, represent resistance.</p><p><blockquote>一个积极的方面是，SPX 图表仍处于上升趋势，因为移动平均线和 “修正布林带 ”仍在走高。然而，如果标准普尔突破3870点的支撑位，这种上升趋势将受到质疑。从随附的图表可以看出，3,725附近还有进一步的支撑。如果这被打破，空头显然会占据主导地位。与此同时，最近的历史高点 3,985 点代表了阻力位。</blockquote></p><p> What is different today compared to previous minor pullbacks is that several of our internal indicators have weakened considerably and are on sell signals: breadth, new highs vs. new lows, and equity-only put-call ratios.</p><p><blockquote>与之前的小幅回调相比，今天的不同之处在于，我们的几个内部指标已经显着减弱，并且处于卖出信号：广度、新高与新低以及仅股票的看跌看涨期权比率。</blockquote></p><p> Equity-only put-call ratios remain on sell signals that were first generated in mid-February and that have strengthened by beginning to rise rapidly.&nbsp;They are still relatively low on their charts, meaning that there is a lot of room to move higher before one might say they are “oversold.”</p><p><blockquote>仅股票的看跌期权与看涨期权比率仍处于 2 月中旬首次产生的卖出信号之下，随着卖出信号的开始迅速上升，卖出信号得到加强。它们在图表上仍然相对较低，这意味着在人们说它们 “超卖 ”之前，还有很大的上涨空间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bfd689fa18eceb515c752afa1cb024f7\" tg-width=\"620\" tg-height=\"465\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN<img src=\"https://static.tigerbbs.com/9216bd23616405d8464aa44f5baea259\" tg-width=\"620\" tg-height=\"460\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米伦劳伦斯·麦克米伦</blockquote></p><p> Breadth has deteriorated badly over the past two weeks – especially this last week. Sell signals were generated by the breadth oscillators on March 18 and March 19, and those oscillators have plunged since then.&nbsp;The “stocks only” breadth oscillator has already descended into oversold territory, but “oversold doesn’t mean buy.”</p><p><blockquote>在过去的两周里，广度严重恶化——尤其是上周。3 月 18 日和 3 月 19 日，宽度振荡指标产生了卖出信号，此后这些振荡指标一直在暴跌。“仅限股票 ”宽度振荡指标已经跌入超卖区域，但 “超卖并不意味着买入”。</blockquote></p><p> The NYSE breadth oscillator is also moving lower, but at a much slower pace, since the more positive “Dow-type” stocks have a heavier weight in that oscillator.</p><p><blockquote>纽约证券交易所宽度振荡指标也在走低，但速度要慢得多，因为更积极的 “道琼斯型 ”股票在该振荡指标中的权重更重。</blockquote></p><p> Meanwhile, cumulative breadth has fallen sharply as well. That is not a signal, but it is worth noting that the “stocks only” cumulative advance-decline line has fallen almost 10,000 issues since the cumulative A-D line reached an all-time high on March 15 (that is, over that time, summing the daily figures, declines have outnumbered advances by 10,000 issues).</p><p><blockquote>与此同时，累计宽度也大幅下降。这并不是一个信号，但值得注意的是，自 3 月 15 日累计 A-D 线创下历史新高以来，“仅股票 ”累计上涨-下跌线已经下跌了近 10,000 期（也就是说，在此期间，将每日数据相加，下跌数量超过上涨数量 10,000 期）。</blockquote></p><p> A significant development has also occurred in the case of the “new highs vs. new lows” indicator. On March 23, new 52-week lows outnumbered new 52-week highs andnew 52-week lows numbered more than 100 issues — the first time that has happened since last May.&nbsp;That was the case again on March 24.&nbsp;That places this indicator on a sell signal until new highs take control once again.</p><p><blockquote>“新高与新低 ”指标也有了重大进展。3月23日，52周新低的数量超过了52周新高，52周新低的数量超过了100个——这是自去年5月以来的第一次。3月24日又出现了这种情况。这使得该指标处于卖出信号，直到新高再次占据主导地位。</blockquote></p><p> Countering the negativity of put-call ratios, breadth, and new highs vs. new lows, is the fact that the volatility indicators still remain generally bullish. VIX has not risen substantially (yet), so the “spike peak” buy signal of March 4 remains in place.</p><p><blockquote>与看跌看涨期权比率、宽度以及新高与新低的负面影响相反的是，波动性指标仍然普遍看涨。VIX 尚未大幅上涨，因此 3 月 4 日的 “尖峰 ”买入信号仍然有效。</blockquote></p><p> Moreover, the trend of VIXVIX,-6.56%continues to be lower, as both VIX and its 20-day moving average are below the declining 200-day moving average. In fact, on March 22, VIX closed at its lowest price (18.88) since February 2020.</p><p><blockquote>此外，VIXVIX,-6.56%的走势继续走低，因为VIX及其20日移动平均线均低于下降的200日移动平均线。事实上，3月22日，VIX收盘价为2020年2月以来的最低价（18.88）。</blockquote></p><p> If VIX should continue to fall below there, it would be a bullish sign for stocks.</p><p><blockquote>如果 VIX 继续跌破该水平，这对股市来说将是一个看涨信号。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c5d40b1aedd4e9457306d25814439c92\" tg-width=\"620\" tg-height=\"465\" referrerpolicy=\"no-referrer\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米伦</blockquote></p><p> As we’ve noted previously, the fact that VIX has remained so high all during the huge rally over the past year has been a worrisome sign for many traders. But the traders that were keeping VIX higher were actually correct, because realized volatility of SPX (i.e., its 20-day historical volatility) has been just below 20 since early March. Thus, realized volatility rose to meet implied volatility, rather than the other way around (which is more often the case).</p><p><blockquote>正如我们之前指出的，VIX 在过去一年的大幅反弹中一直保持在如此高的水平，这对许多交易者来说是一个令人担忧的信号。但维持 VIX 走高的交易员实际上是正确的，因为自 3 月初以来，SPX 的实现波动率（即其 20 天历史波动率）一直略低于 20。因此，已实现波动率的上升是为了满足隐含波动率，而不是相反（这种情况更常见）。</blockquote></p><p> Now, if one wants to make the case that it is worrisome to see both forms of volatility this high, then so be it. But there is no longer any significant difference between the S&amp;P’s realized and implied volatility.</p><p><blockquote>现在，如果有人想证明看到这两种形式的波动性如此之高令人担忧，那就这样吧。但标准普尔的实际波动率和隐含波动率之间已不再存在显著差异。</blockquote></p><p></p><p> The construct of volatility derivatives has remained bullish throughout.&nbsp;VIX futures are all trading at premiums to VIX, and the term structure slopes upward through the coming summer. Similarly, the term structure of the CBOE Volatility Indices slopes upward through the next six months as well.</p><p><blockquote>波动性衍生品的结构自始至终保持看涨态势。VIX 期货交易价格均高于 VIX，期限结构在即将到来的夏季呈上升趋势。同样，芝加哥期权交易所波动率指数的期限结构在未来六个月也呈上升趋势。</blockquote></p><p> The first sign of a negative reversal here would be if the April VIX futures traded above the price of May VIX futures.</p><p><blockquote>负面反转的第一个迹象是 4 月份 VIX 期货价格高于 5 月份 VIX 期货价格。</blockquote></p><p> Near-term deterioration in some internal indicators is certainly a cause for worry, and small countertrend bearish positions can be taken because of that. However, the S&amp;P’s trend is still higher, and the trend of VIX is still lower – both bullish factors. So we still maintaining a “core” bullish position until those two trends are broken.</p><p><blockquote>一些内部指标的近期恶化当然是一个令人担忧的原因，因此可以采取小的逆势看跌头寸。然而，标准普尔指数的趋势仍然较高，而VIX指数的趋势仍然较低--这两个因素都是看涨因素。因此，在这两个趋势被打破之前，我们仍维持 “核心 ”看涨头寸。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/stay-bullish-on-the-stock-market-in-the-face-of-some-fresh-sell-signals-01616682019?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5d8fb95e65f042f352c6313989391357","relate_stocks":{".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/stay-bullish-on-the-stock-market-in-the-face-of-some-fresh-sell-signals-01616682019?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100799979","content_text":"The stock market continues to be led by the Dow Jones Industrial Average,with NASDAQ lagging noticeably behind, and the S&P 500 indexcaught somewhere in the middle. This is not a good scenario for stocks.\nThere is an old adage that it is not good for the market if the Generals are out in front of the Army (the “Generals” being General Motors, General Electric, etc. – i.e., the mainstays of the Dow of days gone by; the “Army” being the main body of stocks). The point is that if the advance is narrow and limited to the largest institutional stocks, then trouble lies ahead.\nIt is a good point, but too vague to implement as a trading system. We would normally see that reflected in breadth (which is now giving a sell signal) and new highs vs. new lows (which is also on a sell signal).\nLAWRENCE MCMILLAN\nOne positive thing is that the SPX chart is still in an uptrend, as the moving averages and “modified Bollinger Bands” are still trending higher. However, if the S&P breaks through support at 3,870, that uptrend would be called into question. As one can see from the accompanying chart, there is further support near 3,725. If that is broken, the bears would clearly be in charge. Meanwhile, the recent all-time highs, at 3,985, represent resistance.\nWhat is different today compared to previous minor pullbacks is that several of our internal indicators have weakened considerably and are on sell signals: breadth, new highs vs. new lows, and equity-only put-call ratios.\nEquity-only put-call ratios remain on sell signals that were first generated in mid-February and that have strengthened by beginning to rise rapidly. They are still relatively low on their charts, meaning that there is a lot of room to move higher before one might say they are “oversold.”\nLAWRENCE MCMILLANLAWRENCE MCMILLAN\nBreadth has deteriorated badly over the past two weeks – especially this last week. Sell signals were generated by the breadth oscillators on March 18 and March 19, and those oscillators have plunged since then. The “stocks only” breadth oscillator has already descended into oversold territory, but “oversold doesn’t mean buy.”\nThe NYSE breadth oscillator is also moving lower, but at a much slower pace, since the more positive “Dow-type” stocks have a heavier weight in that oscillator.\nMeanwhile, cumulative breadth has fallen sharply as well. That is not a signal, but it is worth noting that the “stocks only” cumulative advance-decline line has fallen almost 10,000 issues since the cumulative A-D line reached an all-time high on March 15 (that is, over that time, summing the daily figures, declines have outnumbered advances by 10,000 issues).\nA significant development has also occurred in the case of the “new highs vs. new lows” indicator. On March 23, new 52-week lows outnumbered new 52-week highs andnew 52-week lows numbered more than 100 issues — the first time that has happened since last May. That was the case again on March 24. That places this indicator on a sell signal until new highs take control once again.\nCountering the negativity of put-call ratios, breadth, and new highs vs. new lows, is the fact that the volatility indicators still remain generally bullish. VIX has not risen substantially (yet), so the “spike peak” buy signal of March 4 remains in place.\nMoreover, the trend of VIXVIX,-6.56%continues to be lower, as both VIX and its 20-day moving average are below the declining 200-day moving average. In fact, on March 22, VIX closed at its lowest price (18.88) since February 2020.\nIf VIX should continue to fall below there, it would be a bullish sign for stocks.\nLAWRENCE MCMILLAN\nAs we’ve noted previously, the fact that VIX has remained so high all during the huge rally over the past year has been a worrisome sign for many traders. But the traders that were keeping VIX higher were actually correct, because realized volatility of SPX (i.e., its 20-day historical volatility) has been just below 20 since early March. Thus, realized volatility rose to meet implied volatility, rather than the other way around (which is more often the case).\nNow, if one wants to make the case that it is worrisome to see both forms of volatility this high, then so be it. But there is no longer any significant difference between the S&P’s realized and implied volatility.\nThe construct of volatility derivatives has remained bullish throughout. VIX futures are all trading at premiums to VIX, and the term structure slopes upward through the coming summer. Similarly, the term structure of the CBOE Volatility Indices slopes upward through the next six months as well.\nThe first sign of a negative reversal here would be if the April VIX futures traded above the price of May VIX futures.\nNear-term deterioration in some internal indicators is certainly a cause for worry, and small countertrend bearish positions can be taken because of that. However, the S&P’s trend is still higher, and the trend of VIX is still lower – both bullish factors. So we still maintaining a “core” bullish position until those two trends are broken.","news_type":1,"symbols_score_info":{".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3464,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327940396,"gmtCreate":1616054478915,"gmtModify":1703496932791,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576547785025400","idStr":"3576547785025400"},"themes":[],"title":"","htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327940396","repostId":"1140777123","repostType":4,"isVote":1,"tweetType":1,"viewCount":2771,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324310943,"gmtCreate":1615962080482,"gmtModify":1703495577877,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576547785025400","idStr":"3576547785025400"},"themes":[],"title":"","htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324310943","repostId":"1140620694","repostType":4,"repost":{"id":"1140620694","kind":"news","pubTimestamp":1615953301,"share":"https://www.laohu8.com/m/news/1140620694?lang=zh_CN&edition=full","pubTime":"2021-03-17 11:55","market":"us","language":"en","title":"Why These Top Marijuana Stocks Got Slammed Tuesday<blockquote>为什么这些顶级大麻股票周二遭受重创</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1140620694","media":"Motley Fool","summary":"It's about what's happening in a potentially powerful marijuana state.\nWhat happened\nIt was a terrib","content":"<p>It's about what's happening in a potentially powerful marijuana state.</p><p><blockquote>这是关于一个潜在强大的大麻州发生的事情。</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么事</b></blockquote></p><p> It was a terrible Tuesday for most marijuana stocks, particularly the Canadian ones.<b>Tilray</b>&nbsp;(NASDAQ:TLRY)&nbsp;sank by nearly 12%, while its partner-to-be&nbsp;<b>Aphria</b>&nbsp;(NASDAQ:APHA)&nbsp;fell by 9%.<b>Canopy Growth</b>&nbsp;(NASDAQ:CGC),<b>Aurora Cannabis</b>&nbsp;(NYSE:ACB),<b>Organigram Holdings</b>&nbsp;(NASDAQ:OGI), and&nbsp;<b>HEXO</b>&nbsp;(NYSE:HEXO)&nbsp;were close behind, sliding at rates from 4% to 7%.</p><p><blockquote>对于大多数大麻股票来说，这是一个糟糕的星期二，尤其是加拿大的大麻股票。<b>蒂尔雷</b>（纳斯达克股票代码：TLRY）下跌近 12%，而其未来的合作伙伴<b>阿弗里亚</b>（纳斯达克股票代码：APHA）下跌 9%。<b>冠层生长</b>（纳斯达克代码：CGC），<b>奥罗拉大麻</b>（纽约证券交易所代码：ACB），<b>组织结构图控股</b>（纳斯达克股票代码：OGI），以及<b>六角</b>（纽约证券交易所股票代码：HEXO）紧随其后，利率从 4% 下滑至 7%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> If there's one thing investors despise, it's uncertainty. Tuesday's big question mark was New York, which is considered by many weed-watchers to be the next likely state to legalize recreational marijuana.</p><p><blockquote>如果说投资者鄙视一件事，那就是不确定性。周二最大的问号是纽约，许多杂草观察家认为纽约是下一个可能将娱乐用大麻合法化的州。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/31e57ae152cd078baebb7ec2593604d8\" tg-width=\"2000\" tg-height=\"1125\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Yet on Tuesday, there were conflicting media reports about the state government's decision to flip the switch.</p><p><blockquote>然而在周二，关于州政府决定按下开关的媒体报道相互矛盾。</blockquote></p><p> The Albany-based&nbsp;<i>Times Union</i>, for example, published an article that day headlined \"Legislature nears deal on recreational marijuana legalization.\" Yet Marijuana Moment quoted state Senate majority leader Andrea Stewart-Cousins as saying negotiations over such legislation \"reached a little bit of an impasse.\"</p><p><blockquote>总部位于奥尔巴尼<i>时代联盟</i>例如，当天发表了一篇题为“立法机构即将就娱乐大麻合法化达成协议”的文章。然而，《大麻时刻》援引州参议院多数党领袖安德里亚·斯图尔特-考辛斯的话说，关于此类立法的谈判“陷入了一点僵局”。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在呢</b></blockquote></p><p> Much of this uncertainty can be attributed to the usual political horse-trading that goes into any significant piece of legislation. Most sensible New Yorkers -- even the politicians -- realize that the state is facing a&nbsp;budgetary chasm&nbsp;and desperately needs good tax revenue sources.</p><p><blockquote>这种不确定性在很大程度上可以归因于任何重要立法中常见的政治交易。大多数明智的纽约人——甚至是政治家——意识到该州正面临预算鸿沟，迫切需要良好的税收来源。</blockquote></p><p> At the end of the day, for all the political noise, New York seems to be barreling straight toward recreational legalization. This might ultimately be the factor driving the prices of Canadian&nbsp;pot companies&nbsp;down; after all, it's their American peers that will be able to immediately pounce on the New York market, not them.</p><p><blockquote>归根结底，尽管有所有的政治噪音，纽约似乎正在直奔娱乐合法化。这最终可能是推动加拿大大麻公司价格下跌的因素；毕竟，能够立即抢占纽约市场的是他们的美国同行，而不是他们。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why These Top Marijuana Stocks Got Slammed Tuesday<blockquote>为什么这些顶级大麻股票周二遭受重创</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy These Top Marijuana Stocks Got Slammed Tuesday<blockquote>为什么这些顶级大麻股票周二遭受重创</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-03-17 11:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It's about what's happening in a potentially powerful marijuana state.</p><p><blockquote>这是关于一个潜在强大的大麻州发生的事情。</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么事</b></blockquote></p><p> It was a terrible Tuesday for most marijuana stocks, particularly the Canadian ones.<b>Tilray</b>&nbsp;(NASDAQ:TLRY)&nbsp;sank by nearly 12%, while its partner-to-be&nbsp;<b>Aphria</b>&nbsp;(NASDAQ:APHA)&nbsp;fell by 9%.<b>Canopy Growth</b>&nbsp;(NASDAQ:CGC),<b>Aurora Cannabis</b>&nbsp;(NYSE:ACB),<b>Organigram Holdings</b>&nbsp;(NASDAQ:OGI), and&nbsp;<b>HEXO</b>&nbsp;(NYSE:HEXO)&nbsp;were close behind, sliding at rates from 4% to 7%.</p><p><blockquote>对于大多数大麻股票来说，这是一个糟糕的星期二，尤其是加拿大的大麻股票。<b>蒂尔雷</b>（纳斯达克股票代码：TLRY）下跌近 12%，而其未来的合作伙伴<b>阿弗里亚</b>（纳斯达克股票代码：APHA）下跌 9%。<b>冠层生长</b>（纳斯达克代码：CGC），<b>奥罗拉大麻</b>（纽约证券交易所代码：ACB），<b>组织结构图控股</b>（纳斯达克股票代码：OGI），以及<b>六角</b>（纽约证券交易所股票代码：HEXO）紧随其后，利率从 4% 下滑至 7%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> If there's one thing investors despise, it's uncertainty. Tuesday's big question mark was New York, which is considered by many weed-watchers to be the next likely state to legalize recreational marijuana.</p><p><blockquote>如果说投资者鄙视一件事，那就是不确定性。周二最大的问号是纽约，许多杂草观察家认为纽约是下一个可能将娱乐用大麻合法化的州。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/31e57ae152cd078baebb7ec2593604d8\" tg-width=\"2000\" tg-height=\"1125\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Yet on Tuesday, there were conflicting media reports about the state government's decision to flip the switch.</p><p><blockquote>然而在周二，关于州政府决定按下开关的媒体报道相互矛盾。</blockquote></p><p> The Albany-based&nbsp;<i>Times Union</i>, for example, published an article that day headlined \"Legislature nears deal on recreational marijuana legalization.\" Yet Marijuana Moment quoted state Senate majority leader Andrea Stewart-Cousins as saying negotiations over such legislation \"reached a little bit of an impasse.\"</p><p><blockquote>总部位于奥尔巴尼<i>时代联盟</i>例如，当天发表了一篇题为“立法机构即将就娱乐大麻合法化达成协议”的文章。然而，《大麻时刻》援引州参议院多数党领袖安德里亚·斯图尔特-考辛斯的话说，关于此类立法的谈判“陷入了一点僵局”。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在呢</b></blockquote></p><p> Much of this uncertainty can be attributed to the usual political horse-trading that goes into any significant piece of legislation. Most sensible New Yorkers -- even the politicians -- realize that the state is facing a&nbsp;budgetary chasm&nbsp;and desperately needs good tax revenue sources.</p><p><blockquote>这种不确定性在很大程度上可以归因于任何重要立法中常见的政治交易。大多数明智的纽约人——甚至是政治家——意识到该州正面临预算鸿沟，迫切需要良好的税收来源。</blockquote></p><p> At the end of the day, for all the political noise, New York seems to be barreling straight toward recreational legalization. This might ultimately be the factor driving the prices of Canadian&nbsp;pot companies&nbsp;down; after all, it's their American peers that will be able to immediately pounce on the New York market, not them.</p><p><blockquote>归根结底，尽管有所有的政治噪音，纽约似乎正在直奔娱乐合法化。这最终可能是推动加拿大大麻公司价格下跌的因素；毕竟，能够立即抢占纽约市场的是他们的美国同行，而不是他们。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/16/why-these-top-marijuana-stocks-got-slammed-today/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CGC":"Canopy Growth Corporation","ACB":"奥罗拉大麻公司","TLRY":"Tilray Inc.","APHA":"Aphria Inc.","OGI":"ORGANIGRAM HOLD"},"source_url":"https://www.fool.com/investing/2021/03/16/why-these-top-marijuana-stocks-got-slammed-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140620694","content_text":"It's about what's happening in a potentially powerful marijuana state.\nWhat happened\nIt was a terrible Tuesday for most marijuana stocks, particularly the Canadian ones.Tilray (NASDAQ:TLRY) sank by nearly 12%, while its partner-to-be Aphria (NASDAQ:APHA) fell by 9%.Canopy Growth (NASDAQ:CGC),Aurora Cannabis (NYSE:ACB),Organigram Holdings (NASDAQ:OGI), and HEXO (NYSE:HEXO) were close behind, sliding at rates from 4% to 7%.\nSo what\nIf there's one thing investors despise, it's uncertainty. Tuesday's big question mark was New York, which is considered by many weed-watchers to be the next likely state to legalize recreational marijuana.\nIMAGE SOURCE: GETTY IMAGES.\nYet on Tuesday, there were conflicting media reports about the state government's decision to flip the switch.\nThe Albany-based Times Union, for example, published an article that day headlined \"Legislature nears deal on recreational marijuana legalization.\" Yet Marijuana Moment quoted state Senate majority leader Andrea Stewart-Cousins as saying negotiations over such legislation \"reached a little bit of an impasse.\"\nNow what\nMuch of this uncertainty can be attributed to the usual political horse-trading that goes into any significant piece of legislation. Most sensible New Yorkers -- even the politicians -- realize that the state is facing a budgetary chasm and desperately needs good tax revenue sources.\nAt the end of the day, for all the political noise, New York seems to be barreling straight toward recreational legalization. This might ultimately be the factor driving the prices of Canadian pot companies down; after all, it's their American peers that will be able to immediately pounce on the New York market, not them.","news_type":1,"symbols_score_info":{"CGC":0.9,"TLRY":0.9,"ACB":0.9,"HEXO":0.9,"APHA":0.9,"OGI":0.9}},"isVote":1,"tweetType":1,"viewCount":4070,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328253296,"gmtCreate":1615533832515,"gmtModify":1703490544829,"author":{"id":"3576547785025400","authorId":"3576547785025400","name":"Kimsu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576547785025400","idStr":"3576547785025400"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328253296","repostId":"2118993441","repostType":4,"isVote":1,"tweetType":1,"viewCount":1959,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}