Friday Recap - $SIVB will be insolvent by the end of the day - Market update 3-10-23

Will the market crash if $SIVB goes insolvent - no - $XLF is crazy - $BAC $C $GS $MS $WFC $JPM are all buys in this - they will not go insolvent. 

Notes for the show are below some of the links, but I focus on $SPY $QQQ  $BOIL $SIVB $SMMT $UBER $WFC $BAC $IWM $OCEA $NFLX

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NOTES

$RIG

$crwd

$OCEA crazy run up - just talk of a tumor reduction for cancer - no trials

$NFLX under $300

Banks had a HORRIBLE day $SIVB was down 60%

Quote - there’s nothing like a forced capital raise from a bank to wake the market up to the risk of higher interest rates and tighter liquidity

Russell 2000 - 45% unprofitable and 40% of that debt is floating rate - so they are not making money - unprofitable and they are not making money as the fed is raising rates and that’s the stress $WFC made full round trip back to where I bought it. I’ll buy more.

$BAC 

$SMMT buy

$uber close to $30

Jeffries upgrades $rblx

Downgrades

• AAPL: LightShed Partners Downgrades to Sell from Neutral - PT $120
• CAT: UBS Downgrades at Sell from Neutral - PT $225
• DOCU: JPMorgan Downgrades to Underweight from Neutral - PT $48 (from $58)
• SIVB: Raymond James Downgrades to Market Perform from Outperform
• SIVB: Truist Securities Downgrades to Hold from Buy - PT $100 (from $174)
• SIVB: Wolfe Research Downgrades to Peerperform from Outperform
• AKA: Piper Sandler Downgrades to Neutral from Overweight - PT $2 (from $3)
• ALGT: Barclays Downgrades to Equalweight from Overweight - PT $105 (from $96)
• BIRD: Baird Downgrades to Neutral from Outperform - PT $2 (from $7)
• BIRD: Telsey Downgrades to Market Perform from Outperform - PT $2.25 (from $4)
• BTAI: Jefferies Downgrades to Hold from Buy - PT $22 (from $20)
• FULC: Credit Suisse Downgrades to Neutral from Outperformer - PT $8 (from $11)
• INSG: TD Cowen Downgrades to Market Perform from Outperform - PT $1 (from $4)
• LRN: Morgan Stanley Downgrades to Equalweight from Overweight - PT $46
• LUV: Barclays Downgrades to Equalweight from Overweight - PT $38 (from $42)

RECAP

SCANS

$DRV
$SPXU

$SQQQ

$SDS

$UVXY
$SDOW

$SMMT