No Fear Friday: PreMarket Prep Recap For Feb. 7, 2020
If Friday’s episode of PreMarket Prep is any indication, opinions are extremely divided on how the coronavirus could affect U.S. markets.
Co-host Dennis Dick bemoaned the steady upward move in U.S. stocks, and said he’s still approaching this market with caution until the coronavirus gets under control.
Co-host Joel Elconin is not as bearish, and is sticking to watching key technical levels. He said his main level to watch will be Thursday’s all-time closing high in the S&P futures of 3345.25. He’ll be watching to see if the market can get back there during Friday’s session.
Each guest on Friday’s show offered slightly different takes. HitTheBid’s Kenny Glick said he’s not worried at all about the coronavirus impacting markets, while Wisdom Tree Director of Research Jeremy Schwartz acknowledged the threat, but said he expects it to be more of a short-term headwind.
Stocks also discussed include:
- Pinterest Inc(NYSE:PINS) (click here)
- Twitter Inc (NYSE:TWTR) (click here)
- Tesla Motors, Inc (NASDAQ:TSLA) (click here)
- Uber Technologies Inc (NYSE:UBER) (click here)
- Activision Blizzard (NASDAQ:ATVI) (click here)
- Take-Two Interactive (NASDAQ:TTWO) (click here)
- Marvell Technology Group (NASDAQ:MRVL) (click here)
Kenny Glick, Owner and Creator of HittheBid.com
Kenny Glick started his professional life as a stand-up comic, but was lured into a 'Boiler Room' operation by an admiring fan that thought his personable nature would be a good fit for "selling slime." His career began a few years before the dot-com bubble, but he actually had more success during the crash. More than anything, though, he strives to bring comic relief to trading.
Kenny’s full interview can be viewed at 16:29 in the video below or by clicking here.
Jeremy Schwartz, Director of Research at WisdomTree
As Director of Research, Jeremy Schwartz is responsible for the WisdomTree Equity Index construction process and oversees research across the WisdomTree equity family. Prior to joining WisdomTree, Jeremy was Professor Jeremy Siegel’s Head Research Assistant and helped with the research and writing of Stocks for the Long Run and The Future for Investors. He is also the co-author of the Financial Analysts Journal paper “What Happened to the Original Stocks in the S&P 500?” and the Wall Street Journal article “The Great American Bond Bubble.” Jeremy is a graduate of The Wharton School at the University of Pennsylvania and a member of the CFA Society of Philadelphia.
Jeremy’s full interview can be viewed at 36:00 in the video below or by clicking here.
Watch the full show or listen to the podcast below.
PreMarket Prep is a daily trading show hosted by prop trader Dennis Dick and former floor trader Joel Elconin. You can watch PreMarket Prep live every day from 8-9 a.m. ET here. The replay can be found on Benzinga's YouTube channel, and the podcast is on iTunes, Google Play, Soundcloud, Stitcher and Tunein.
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