Risk Reversal - @10:46

Here are our show notes for @10:46 today – we talked about a Macro Call, Citrix, and AutoNation research upgrades.


If you missed the live show, you can watch a recording of it:

1) Macro Call: David Rosenberg wrote a little love letter to market contrarians (read here)

SPX since Jan 2020
RTY since Jan 2020


2) Citrix (CTXS) upgrade at Jefferies

The stock traded poorly yesterday
ORCL 20yr chart


3) AutoNation (AN) upgraded at Benchmark, Reiterated Underweight at Morgan Stanley

Nearly 50% of AN’s $23 billion in sales are online, trades 10x earnings while Carvana (CVNA) trades 5x sales and loses money sports a market cap of $43 billion vs AN’s $7.5 billion.

4) Two for The Road

Dan: BTC vs ETH  – One dog goes one way, the other goes the other way…
-BTC down 15% from last weeks ATH, while ETH at new ATH
-BTC up 90% ytd, ETH up 250% ytd, $300 billion market cap vs $1 trillion for $BTC.
Guy: AAPL Price Target Tweaked higher at Morgan Stanley 
-APPL reports FQ2 April 28th after the close. Implied move in the options market about $7 or 4.5%, in line with 4qtr avg.
-Stock unchanged on Year.