Down goes the Dow

Keep people invested as long as possible because it is good for business. Wall Street profits are correlated to the performance of the S&P 500.

“I’m not sure what’s driving all the talk of recession,” said Johnson. “There’s a lot of negativity out there that’s not well founded.”

washingtonpost.com

Economy shows resilience despite mounting recession fears

Recent indicators suggest that the two-year old expansion – while slowing from an unsustainable pace of annual growth near 7 percent late last year – shows little sign of slipping into reverse. The labor market is churning ou...

Link:www.washingtonpost.com/business/2022/0...

😹

Delusional as ever both you & WaPo.

For certain this is what the establishment was saying in 1929

And Amazon isn’t canceling fulfillment center expansion plans……😹

17 days since a 52-week low

GDP Now is out of consensus and falling like a rock...for the 2Q it's come down to +1.3% after being around +2.4% mid-May. That's not great.

Consensus is still in the +2.8% range. Not sure how much attention we should pay to GDPNow...it's a fixed formula methodology that does not take as much into consideration as other forecasts.

would be interesting to see how accurate it is compared to other methods. I know it did poorly in the pandemic because it didn't pick up changes very well.

I think Musk is turning into the kind of guy who had a hot streak and it made him think he is god of all things.

So he got a lot of bros to bet alongside him on anything. And that is costing the fanboys a ton of money.

Doge in the toilet

Tesla down by 40%.

Twitter deal broken beyond repair, probably.

I'm sure there are others.

Plus, Musk's weakness here might embolden the SEC to actually do something about his illegal antics with stock manipulation and the like. He could get more than a slap.

I'm a massive fan of him as an engineer, big idea guy and manager. But betting alongside this guy, now? No way.

sorry - context today. musk is most likely walking away.

Tesla CEO Elon Musk is raising another obstacle in his $44 billion bid to buy Twitter (TWTR).
In an SEC filing released Monday morning, Musk's counsel said Twitter has not coughed up adequate data on the company's users, committing a "clear material breach" of the company's obligations as part of its merger agreement.

Musk was god of the libs until he turned on them.

no business guy is a god to the libs. Just not going to happen. Although sure, the Tesla brand is very appealing to those who feel bad about having to have a car. but that's the brand, not the guy. libs don't have high views of business people. Not their thing.

Although it depends how you are defining 'libs' I suppose.

The cancel concept is a totally lib invention. To say there wasn’t a push to cancel Musk on his Twitter purchase posts and recent anti-Administration comments would be disingenuous, imho.

Hmmm…don’t say gay, removing certain books from libraries, anti-media, no CRT in schools, etc. If it was a lib invention, that hasn’t stopped the far right from embracing it.

I move to table all politics discussions in this thread unless directly relevant to an investment topic.
do I have someone to second the motion?

10 year back over 3%…have to think that will end this rally for now.
at least until Friday, when we get a new inflation number.

Began day well up pre opening.

Still solidly up at opening.

Now down to about $0 and perhaps headed for another loss.

Same pattern as 3 of the 4 days the market was open last week.

Getting tired of this

the market is trying to get you to throw in the towel and walk away. that's how this works.

although you don't have a diversified portfolio so you are relying on luck more than most investors choose to.

Seems statistically impossible that this pattern has been repeated so often of late