Down goes the Dow

would be amazing if we do get a soft landing, no recession.

I mean virtually no one thinks that is likely. But here's a sign that it is. That the Fed can stop with the rate rises earlier than thought. Would be amazing if everyone is wrong and inflation goes to 2-3% and so does GDP growth.

The U.S. economy is starting to show signs of softening demand, which if continued, could make the case for a slightly less aggressive interest rate hike in July, Philadelphia Federal Reserve President Patrick Harker said Wednesday.
"We are, again, starting to see some signs of demand softening, which is exactly what we want," Harker told Yahoo Finance's Brian Cheung Wednesday morning."We don't want it to crash. We want to bring the economy into a safe position and in balance with supply and demand."
Harker's comments suggest the economy has already started to show signs of cooling following the Fed's interest rate hikes unleashed so far this year, which has brought the Fed Funds rate to between 1.50% and 1.75%.
Harker, an alternate member of the Federal Open Market Committee this year, voted in favor of the central bank's 75 basis point interest rate hike last week.

Market back to zero as we near close.

My plus investments for the day now in the red and my in the reds still there.

Good-bye to a few more thousand $$ today as my loss overtakes yesterday's gains.

The losing continues. Largely due to oil stocks tanking as the price at your gas station goes up

Bought a Tesla put after it went up 12% for no reason yesterday. Should pay well in a couple months I think.

A new BTC reverse ETF launched today. A little late but I thought the same for SARK. Igy, are you buying?

Probably not. Although I do think Bitcoin is B.S., not likely to bet against continued insanity.

That Hussman Fund is real garbage.

Supposed to make money as the stock market goes down.

Well it went down today and Hussman lost 0.42%

And they clip you pretty good getting in and out of it.

Pathetic.

I could see it being flat or down maybe .05%, but down 0.42% in a day the market had losses?

No, as previously posted the investment you should have purchased was SH. Meanwhile:

I believe agip, I believe.

Hold the line! Buy the dip!!

OOORAH

BofA on housing affordability:

"A consumer purchasing a $400,000 home with 20% down would see her mortgage payment increase 34% with a 6% mortgage rate vs. a 3.5% mortgage rate. Conversely, If the consumer wanted to keep her mortgage payment constant, the maximum purchase value of the home would need to decline 25% to ~$299,600".

Anyone shorting oil? I might get SCO.

investorplace.com

The Big Short 2.0: Oil May Offer the Best Short Opportunity Since 2008

Luke Lango

In early 2008, oil rallied on supply constraints. But recession-driven demand destruction caused its crash. We have the same situation today.

Link:investorplace.com/hypergrowthinvesting...

Dawn lights on Marblehead.

probably the fund has a bet that rates will rise

but rates fell a lot today

also, it probably has a big bullish bet on oil stocks

but oil fell hard today.

You want to invest with a contrarian, this is the sort of thing that happens, regularly.

The only good thing you can say about the Hussman Strategic is that it is no-load. Everything else about it stinks to high heaven. 1.34% expense. 1 star (lowest) morningstar rating. Performance over last 10 years NEGATIVE 5%.

Up 16.24% in 2022! Can I have an up 32% by November 23, 2022? 🤡

Anyone been keeping track of Meta at all? Currently down about 60% from all time highs and has a PE ratio of 11. Current price is almost exactly what it was a full 5 years ago. I realize Facebook has been losing users, but Meta owns Instagram and Whatsapp too, and I also think traffic and revenue will pick up a ton come 2024 with the election... I try hard to stay away from individual stocks, but this seems like a major discount.

I think the twin issues are costs and low growth.

they are spending billions on the metaverse with no promise of any revenue at the end. Whenever that may be down the road. Could be a zero.

and growth…not likely to be high.

and no dividend of course.

I was not aware of this. Explains some of why oil is down 20% I suppose. I read somewhere that even a small bit of lower demand can make a big difference in either oil or gasoline prices...let's hope.

Although speculation is part of the machinery holding oil prices up so high.

WSJ:

American drivers are starting to buy less gasoline as they feel the economic burden of record prices that continue to hover near $5 a gallon.
In the first full week of June, gasoline sales at U.S. stations were down about 8.2% compared with the same week last year—the 14th consecutive week that sales have lagged behind 2021 levels, according to surveys by energy-data provider OPIS.