Bull Radar

Style Outperformer:

• Large-Cap Value -1.8%

Sector Outperformers:

• 1) Pharma -.4% 2) Healthcare Providers -.5% 3) Shipping -.6%

Stocks Rising on Unusual Volume:

• AGTI, TH, DRS, SAIC and SHLS
  

Stocks With Unusual Call Option Activity:

• 1) AVXL 2) CDE 3) CRK 4) HBI 5) CARG

Stocks With Most Positive News Mentions:

• 1) AGTI 2) ASRT 3) ENSC 4) SJW 5) SAIC
  

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Morning Market Internals

NYSE Composite Index:

• Volume Running +4.3% Above 100-Day Average 
• 11 Sectors Declining, 0 Sectors Rising
• 22.4% of Issues Advancing, 74.3% Declining
• 38 New 52-Week Highs, 28 New Lows
• 46.8%(-3.7%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 62.0 -1.0
  
• Bloomberg Global Risk-On/Risk-Off Index 50.6 +1.4%
  
• Russell 1000: Growth/Value 14,653.2 +.19%
  
• Vix 20.1 +5.3%
• Total Put/Call .90 +7.1%
• TRIN/Arms 1.07 +18.0% 

Monday Watch

Today's Headlines

Bloomberg:             

• China’s Covid Shift Expands as Shanghai, Hangzhou Ease Rules.
• ECB’s Villeroy Wants 50 Basis-Point Hike to Fight Inflation.  
• Emerging Markets Face Risk of Policy Error Amid Conflicting Priorities.  
• Euro’s Traditional Santa Rally Faces a High Bar This Time.
• US Crackdown on Solar-Tariff Dodgers Endangers Biden’s Green Ambitions.
  
• French Birth Rate Plummets to Lowest in Decades on Pandemic.
• Australia Set to Raise Rates as Tightening Cycle Approaches End.
• Investors Weigh US Jobs Strength, China Reopening: Markets Wrap.
• Oil Rises as China Loosens Curbs and OPEC+ Keeps Output Steady.
  
• OPEC+ Pauses as Russia Sanctions and China Covid Rules Roil Crude Markets.
• SBF Says He Will Testify Before House, Without Committing to Date.
• Report of ‘Secret’ Saudi Oil Production Deal Probed by House GOP.
  
• J&J Says It Won’t Make an Offer for Horizon Therapeutics.  
• Your Sunday Briefing: Georgia Finally Decides.

Wall Street Journal:

• Parents Who Share Info About Their Kids Online Are a Cybersecurity Risk. Here’s Why.
• Billions in Covid Aid Went to Hospitals That Didn’t Need It.
• Hardly Anyone Is Buying Biden’s Bivalent Boosters. The administration has oversold vaccines for two years, and Covid is less lethal now anyway.
• The American Spies Who Spread Disinformation in 2020. Fifty-one former intelligence officials issued a statement saying the Hunter Biden email story had ‘all the classic earmarks of a Russian information operation.’ 
• Apple’s Warning About China Business. Shareholders are going to want to know how companies are diversifying risk from the People’s Republic. 
• Stock Funds Rise Again but Remain Damaged.
• Clashes Over FTX Bankruptcy Go Global.
• In Georgia, Midterm Turnout and Blank Ballots Might Reveal Who Has the Edge.
• Iran Abolishes Morality Police, Considers Changing Hijab Laws.
• CVS Tries Out Remote System to Help Fill Prescriptions.
• Business-Software Companies Say Customers Are Pulling Back.
• Poor Countries Feel Sting of Local-Currency Debt.

Barron's:

• Had bullish commentary on (WHR), (LEN), (NVR), (DHI), (BOOT), (WDAY), (CDAY), (HUBS), (MAS), (ABBV) and (FBHS).

Fox News:

• Nicholas Sandmann requests specific 'hidden' docs from Musk in next 'Twitter Files' dump.
• Tens of thousands without power after substations taken out by intentional vandalism with gunfire.
• Musk says he faces 'quite significant' risk of being assassinated.

CNBC:

• OPEC+ agrees to stick to its existing policy of reducing oil production ahead of Russia sanctions.
• Manufacturing orders from China down 40% in demand collapse.
• A globally critical chip firm is driving a wedge between the U.S. and the Netherlands. 

Zero Hedge:   

• US Intelligence Chief Predicts 'Reduced Tempo', Waning Morale Of Russian Forces Entering Winter. 
• "Even Our Labor-Friendly Party Does Not Have The Stomach For The Resurgence Of Union Power".
• Reversal Of Long-Standing Policy Keeps Key Documents On Hunter Biden’s Business From Congress.
• Rate Hikes: The Beatings Will Continue Until Morale Declines.
• Weekend News Round Up - Newsquawk Asia-Pac Market Open.
• Bipartisan Group Of US Senators Warns CCP Over Quelling Of Protests.
• Antifa Aims To Disrupt Florida Rally Opposing The Sexualization Of Children.
• Stocks Have "Considerably More Downside" & Commodities Have A "Brand New Tailwind" In 2023.
•  "He Turned His Back": Rail Workers Fume After Biden Forces Unions To Accept Deal.
• Twitter Staff To Be Grilled Before Congress For Censoring Hunter Biden Laptop Story: Rep. Comer.
• Apple Accelerates Plans To Shift Production Out Of China.
• What A GOP House Majority Means For Corporate America.
• Will Your State Reject The Fed's Digital Dollar?
• OPEC+ Keeps Oil Production Unchanged, Maintains 2MMb/d Output Cut After Launch Of Russia Price Cap.
• Goldman, BofA, Citi Employees Join Jefferies In Expecting "Slashed' Bonuses This Holiday Season.
• Greenwald Drags MSM Journos For 'Hive-Mind' Hackery Over Taibbi-Twitter Bombshell.
• Brussels Bailing Out Ukraine Will Ruin Europe For Generations, Hungary's Orban Warns.
• Winter In Central Europe... And For The Dollar.
• Mapped: Where Does Our Food Come From?
• Not Even N95 Masks Work To Stop Covid.
• San Francisco Is The Canary In The Coal Mine For Where Wokeism Is Headed.

MarketWatch.com:   

• BofA is selling U.S. equities rally on worries that unemployment will be ‘shocking’ in 2023.
• Bill Ackman says he sees why FTX victims want Sam Bankman-Fried to ‘suffer’ severe consequences ‘including jail time’.

NewsMax:

• Musk Vows 'More Smoking Guns' to Come in Twitter Exposé.
• Trump: 'Corrupt' DOJ Will Do Nothing After 'Twitter Files'.
• Rep. Fallon to Newsmax: Musk Confirming 'Worst Fears' Every Day.
• Former EPA Official: Americans Need to Prepare Now For Outages.

TheGatewayPundit.com:

• Elon Musk Blasts the Corporate Media for Ignoring the Twitter Files, Which Exposed Hunter Biden Laptop Censorship. 
• CHRIS WRAY NEEDS TO RESIGN: FBI Began Covertly Surveilling Rudy Giuliani One Month After He Was Hired as President Trump’s Personal Attorney. 
• FBI Held Weekly Calls with Big Tech Before 2020 Election and Provided List of URLs Pushing “Disinformation” for Big Tech to Censor.
• Senator Johnson: Censorship of Hunter Biden’s Laptop is “Just Part of a Much Larger Story”.
• New Zealand Government Seeks Custody of a Baby After Parents Refuse to Use Vaccinated Blood for Their Son’s Surgery (VIDEO).
• Biden’s EPA Prepares to Kill Alaska Mine Project Despite Billions in Potential Revenues and Little Threat to Environment – Murkowski Opposes Project Too.
• PROOF: Secretary of State Katie Hobbs Had Twitter Silence Her Critics in Arizona – Prior to Gubernatorial Election She Ran In.
• Massive Power Outage in North Carolina Being Investigated as a ‘Criminal Occurrence,’ Substations Believed to Have Been Sabotaged.
• “The Family’s Influence Peddling is a National Security Risk – Maybe He Is Compromised?” – House Oversight Ranking Member James Comer on Joe Biden (VIDEO).
• New Survey Finds Political Polarization Is Eroding Public’s Trust In The Military.

The Epoch Times:

• Former CCP Leader Jiang Zemin’s Campaign of Repression Laid Groundwork for China’s Digital Dictatorship: Experts.
• Protest Against China’s COVID Lockdowns in New York City, Urumqi Fire Victims Mourned.

Twitter:

• @almost_midnite - What? "After 1,600 auditors combed through DOD’s $3.5 trillion in assets and $3.7 trillion in liabilities, officials found that the department couldn’t account for about 61 percent of its assets, Pentagon Comptroller Mike McCord told reporters on Tuesday."
• @songpinganq - Chinese emigrant workers walking 45 days (more than 1,000 miles) from Xinjiang province to their homes. Because authority remotely switched their QR codes (COVID passport) to code yellow and they can't take any transports (bus,train,plane). (video) NEW - These emigrant workers from other provinces, whose QR codes (COVID passport) were remotely switched to code yellow , deciding to walk 45 days - more than 1,000 miles from Xinjiang province to their homes With yellow QR code, they can't take any transports (bus,train,plane). (video) One big problem here is there aren't flush toilets in these pods of this quarantine camp. With so many people use public toilets, this is result. (video)
  
• @WallSteetSilv - This is China’s largest isolation camp under construction… in the densely populated Guangzhou area… It has 246,407 beds… China is becoming a giant prison on a scale that the world has never seen before… why? (video)
  

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 901,032 Reports(+3,103 from prior week) Through November 18th, 2022.
  

SKirsch.com:

• Using the MGH numbers with our own VAERS queries, we have 247 cases per million doses from the MGH study divided by 5.97 cases per million doses from VAERS. 247/5.97 = 41. This suggests that the VAERS under-reporting factor (URF) is 41X.

Covid-19(Data, Maps, Graphs):

• Our World in Data:  New Global Covid-19 Cases(7-day rolling average graphs). New US Covid Hospital Admissions/ICU Admissions/Deaths
  
• FT.com:  Fully Vaccinated by Country(graph). Global Lockdown Stringency Index(map).
• Bloomberg.com:  International Travel Restrictions.  Case Graphs by State.
  
• NYTimes.com:  County Trends and Clusters. Local ICU Occupancy.
  
• Brown School of Public Health:  Covid Severity by State/County(map).  US Hospital Capacity(region).
  
• CovidActNow:  Covid Severity/Infection Rate by Metro Area.
  
• KFF:  US Vaccinations by Race/Ethnicity.
  
• Carnegie Mellon: Covid-Like Symptoms in Community. Covid Symptom Searches on Google. Covid-Related Dr.Visits.  Restaurant Visits. Wearing Masks. (graphs)
  
• Safegraph.com:  Commerce Patterns(graphs). 
• COVID Money Tracker. Tracking the Covid response.
  

Night Trading

• Asian indices are -.25% to +.5% on average.
• Asia Ex-Japan Investment Grade CDS Index 131.25 -1.0 basis point.
• China Sovereign CDS 76.5 -1.75 basis points.
• China Iron Ore Spot 108.6 USD/Metric Tonne +2.5%
  
• Bloomberg Emerging Markets Currency Index 47.94 +.07%.
• Bloomberg Global Risk-On/Risk Off Index 50.3 +.7%.
• Bloomberg US Financial Conditions Index -.42 unch. 
  
• Volatility Index(VIX) futures 24.1 +.9%. 
• Euro Stoxx 50 futures +.08%.
• S&P 500 futures -.16%.
• NASDAQ 100 futures -.16%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• None of note
  

After the Close:

• None of note
  

Economic Releases 

10:00 am EST

• Factory Orders for Oct. is estimated to rise +.7% versus a +.3% gain in Sept. 
• ISM Services Index for Nov. is estimated to fall to 53.5 versus 54.4 in Oct.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Eurozone PMI report, Raymond James Tech Conference, UBS Media/Telecom/Tech Conference and the Goldman Industrials Conference could also impact trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are mostly higher, boosted by consumer and commodity shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 50% net long heading into the week.

Today's Headlines

Bloomberg:

• Russia Won’t Accept $60 Price Cap on Its Oil, Kremlin Says.
• Iran Says 200 Killed in Widespread Unrest Since Mid-September.  
• Pentagon Warns China on Asia-Pacific: US Will Keep War-Fighting Edge.
• Musk Says He’s Seen ‘Concerning’ Tweets About Brazil’s Election.   
• Trophy Rolex, Patek and Audemars Piguet Prices Skid to Pre-Boom Levels.
• Fed Could Be Pushed by Overheated Wages to Higher Peak Rates.  
• Delta, Pilots Reach Four-Year Deal With 31% in Pay Raises.
• Wall Street Sees Blowout Jobs Data as ‘Wrong Report at the Wrong Time’.
• This Stock Strategist Says We’ll See 5% Inflation for the Next Decade.
• AT&T to Pay $6 Million to SEC Over Private Calls to Analysts.
  
• Crypto Stocks Teeter Near Abyss as Fink’s Warning Adds to Angst.  
• WeWork Downgraded by Fitch as Recession Fears Mount.  
• Bill Ackman Says Recent Comments on SBF Were Misinterpreted.
• Once-Affordable US Housing Markets Are Now Out of Reach for Most.
• ECB’s Chance to Guide Rate-Hike Views Won’t Last Long: Eco Week.
• Your Saturday Briefing: Cheap Gas, Bourbon and ‘Football’.  

Wall Street Journal:  

• Sam Bankman-Fried Says He Can’t Account for Billions Sent to Alameda.
• Where Did Young Male Workers Go? Employers keep hiring but too many people are staying on the job-market sidelines.
• Apple Makes Plans to Move Production Out of China.
• Rail Strike Threat Reveals Supply-Chain Risks to Economy.
• From CNN to Paramount, Perfect Storm in Media Propels Layoffs.
• U.S. Unwraps B-21 Bomber, Designed to Deter China.
• Russia to Rely on ‘Shadow Fleet’ of Oil Tankers.
• Balenciaga Pushed Boundaries Before Ads With Kids Went Too Far.
• Delta Offers Pilots 34% Raises Over Four-Year Deal.
• Kids Don’t Want Cash Anymore–They Want ‘Robux’.
• When Your Data Tells You Who You Really Are.

Fox News:  

• There's proof Twitter suppressed reporting on Hunter Biden's laptop: Musk.
• Rail workers unleash fury on Biden after he forces unions to accept terms or else.
• Disney sets closing date for iconic ride accused of pushing 'racial stereotypes'.
• Catholic bishop unloads on 'evil' Hillary Clinton for 'lies' about pro-lifers, national abortion debate.
• Musk says outlet is 'lobbying firm for far left' after reportedly ignoring key story.

CNBC:

• Amazon’s cloud unit faces cost-sensitive customers as economic fears mount.
• Ukraine urges tougher Western squeeze on Russian oil prices.
• Celsius clients with collateral stuck on failed crypto platform turn to bankruptcy court for relief.
• The blazing hot jobs report just put the Fed on a tightrope.

Zero Hedge:

• Elon Musk Releases THE TWITTER FILES: How Twitter Collaborated With "The Biden Team" To Cover Up The Hunter Laptop Story. 
• Greenwald Drags MSM Journos For 'Hive-Mind' Hackery Over Taibbi-Twitter Bombshell.
• Senate Republicans Demand McConnell Only Accept Short-Term Spending Bill.
• "Highly Experimental And Unproven": Scientist Tells Judge Transgender Treatments For Minors Fraught With Risk.
• 1,000 New York Times Employees Threaten To Strike Next Week.
• Uvalde Survivors File $27 Billion Lawsuit Against Texas Officials, Officers Over Response To Mass Shooting.
• Getting close to inverse panic.
• Apple Accelerating Supply Chain Retreat From China After iPhone Factory Chaos.
• Nigeria's President Says West-Supplied Weapons In Ukraine Are 'Filtering' Into Africa.
• Musk Is Right: It's A Battle For Future Of Civilization.
• Global Warming? Northern Hemisphere Snow Cover At 56-Year High.
• MSM Journos Have Meltdown Over Taibbi-Twitter Biden Bombshell.
• Roubini Warns "The Mother Of All Economic Crises Looms".
• Russia Quietly Amasses 'Shadow Fleet' Of Tankers To Sidestep Western Restrictions.
• New Federal Data Shows 73,000 Illegal Immigrant "Gotaways" In One Month.
• Rolex, Patek, And Audemars Piguet Watch Prices Continue Drop As Crypto Winter Worsens.
• Something Is Rigged: Unexplained, Record 2.7 Million Jobs Gap Emerges In Broken Payrolls Report.
• Europe Shows A Clear Link Between Immigration And Crime.
• Why China Sucks: It's A Beta-Test For The New World Order.
• Make Way For The Killer Robots: The Government Is Expanding Its Power To Kill.
• Has Smoking Lost Its Cool In The US?
• Lavrov Announces Russia, China Are Stepping Up Military Cooperation.
• Texas Bartenders To Be Trained As "First Responders" In Strategy To Reduce Fentanyl Deaths.
• The Top 100 Most Valuable Brands In 2022. 
• Vaccinated People Make Up Majority Of COVID-19 Deaths: CDC Data.

MarketWatch.com:             

• Russia rejects $60-a-barrel cap on its oil, warns of cutoffs.
  
• U.S. jobs data puts jumbo interest-rate hike back on table at Fed’s December meeting.

NewsMax:   

• Rep. McCaul: Biden Team Blocking Release of Oversight Data on Afghan Aid.

TheGatewayPundit.com:

• Flashback: Joe Biden’s Involvement in Hunter Biden Dealings Exposed – Joe Met with Hunter Biden’s Business Associate AT LEAST 16 TIMES. 
• House Republicans Moving to Ban Federal Employees From Using TikTok.
• Creepy Planned Parenthood Sex Ed Director Claims Babies are ‘Sexual From Birth,’ Endorses Giving Children Porn.
• James Woods Tells Tucker He Will Sue DNC for Twitter Suppression – The Gateway Pundit Would Enthusiastically Join Him in His Quest After Being Labeled the Top Censored Site.
• BREAKING: HERE IT IS: Elon Musk Reveals Why Twitter Suppressed Hunter Biden ‘Laptop From Hell’ Story.
• REMINDER: TGP’s Joe Hoft Was Suspended on Twitter for Sharing Hunter Biden Had Family Pictures in a Pornhub Account Found on Laptop – Those Who Retweeted This Were Banned for Hours.
• New York Attorney General Letitia James’s Chief of Staff Resigns Following Sexual Harassment Investigation.
• Deep State Attorney James Baker Came to Twitter “Committed to… an Open Internet and Freedom of Expression” – It Was a Lie.
• Four Sailors Assigned to the Same Virginia Naval Center Have Killed Themselves in the Last Month.
• Elon Musk: It Is Likely Twitter Interfered in 2022 Brazilian Election.
• GO TIME? Military Deploy in Brazil – “Martial Law Coming Next Week”.
• REPORT: Top Aide To John Fetterman Is Outspoken Court-Packing Activist.
• Joe Biden: Warnock Votes with Me Nearly 100% – Don’t Tell Georgia Voters That (VIDEO).

Spotlight on China:

• Chinese universities are simulaneously forcing all students to go home. (video)

The Epoch Times:

• Inside the CCP’s Plan to Conquer Taiwan and Then the World.
• China Fines Former NBA Star Jeremy Lin Over Quarantine Comments.
• US Embassy Warning: Do Not Travel to China.

Twitter:

• @stillgray - One of the most important threads you’ll ever read. THE TWITTER FILES.
• @TPostMillennial - WATCH: San Francisco Apple store RANSACKED by thieves while staff, customers stand by. (video)
  
• @Breaking911 - WATCH: Apple CEO Tim Cook ignores reporter when asked about protests in China. (video)
  
• @CitizenFreePress - Tucker covers the Twitter Files. (video)
  
• @WallStreetSilv - It is getting cold in China… yet people have to line up in the snow for their daily PCR test to keep their QR code green… How many people will die from the flu this year from this crazy "covid zero" policy ? (video) 
• @alx - It took the richest man in the world buying Twitter for us to learn the Truth about a potentially election-altering act of censorship. Imagine what else they’re hiding.
• @NYPost - Who is Vijaya Gadde, the Twitter exec involved in censoring Post's Hunter Biden laptop bombshell?
• @IGSquawk - Weekend markets update: #DAX 14523 -0.03% #DOW 34341 -0.02% #NASDAQ 11963 +0.02% #FTSE 7545 0.00% #HANGSENG 19063 -0.12% #GBPUSD 12280 -0.10% #EURUSD 10537 -0.04% #USDJPY 13435 +0.02%.

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 901,032 Reports(+3,103 from prior week) Through November 18th, 2022. 

SKirsch.com:

• Using the MGH numbers with our own VAERS queries, we have 247 cases per million doses from the MGH study divided by 5.97 cases per million doses from VAERS. 247/5.97 = 41. This suggests that the VAERS under-reporting factor (URF) is 41X.

Covid-19(Data, Maps, Graphs):

• Our World in Data:  New Global Covid-19 Cases(7-day rolling average graphs). New US Covid Hospital Admissions/ICU Admissions/Deaths
  
• FT.com:  Fully Vaccinated by Country(graph). Global Lockdown Stringency Index(map).
• Bloomberg.com:  International Travel Restrictions.  Case Graphs by State.
  
• NYTimes.com:  County Trends and Clusters. Local ICU Occupancy.
  
• Brown School of Public Health:  Covid Severity by State/County(map).  US Hospital Capacity(region).
  
• CovidActNow:  Covid Severity/Infection Rate by Metro Area.
  
• KFF:  US Vaccinations by Race/Ethnicity.
  
• Carnegie Mellon: Covid-Like Symptoms in Community. Covid Symptom Searches on Google. Covid-Related Dr.Visits.  Restaurant Visits. Wearing Masks. (graphs)
  
• Safegraph.com:  Commerce Patterns(graphs).