AMZN back to March 2020 lows, this market will follow.
After hours changes
tech -1.5% sp500 -0.7% Dow / value: flat
Value don’t care about Amazon.
igy I’m telling you this is a golden age for value investing. I’ve sold all my market cap weighted generic index funds and own value. Working really well.
Good move. I do think all equities will get hit, but value less so. Many value stocks have benefited from rising prices, but will be impacted as the cycle bottoms with cratering demand, imho.
AAPL was $57 March 2020 when the S&P 500 was ~2,300. I think that level is an optimistic bottom for the broader market. AAPL may do better or worse, but likely close to the $75 mark I mentioned in an earlier post. That may seem preposterous to some, but as mentioned that has been the experience of former darlings FB and AMZN, perhaps others in mega cap growth.
When Trump left office, the SPR was 57 million barrels lower than when he took office.
And I addressed each and every one of those deductions. Most were caused by legislation passed before he took control of the oval office.
You did not address why Trump claimed he filled it to 100% full, but the volume actually dropped during his tenure. Nor did you address Trump’s selling the oil as a political ploy.
I missed the Trump Tax Cuts and Jobs Act of 2017 because it hasn't been sold yet, that calls for a total of 7 million barrels to be sold between 2026 and 2027. I guess you could make that argument about the Consolidated Appropriations Act of 2018 mentioned above, but then you would have to say something similar about the two bills that passed while Obama was president. In terms of quantity, you are looking at roughly 65 million barrels for the two Obama era bipartisan bills against 17 million barrels for the two Trump era bills to the approximate 200 million barrels Biden has withdrawn or plans to withdraw. Trump and Obama era actions were all passed through a congress that would be held accountable to voters. Biden's actions have been through executive powers.
It's still worth remembering that Trump did propose to refill it with 77 million barrels at $24 a barrel and Democrats bragged when they nixed it from the COVID relief bill as a defeat for big oil. Seems pretty stupid in hindsight. Amazing how evil oil companies are until you need them (kind of like pharmaceutical companies).
Unfortunately, both parties will not address the bloated bureaucracy and unhinged spending. Addressing the poor fiscal management will be forced on the nation.
Both sides have been using it as a piggy bank. It wasn't as big a deal when we weren't restricting our domestic production to the extent we are now and we weren't in a proxy war with a nuclear armed nation that controls a large share of the world's oil and gas.
I'm re-entering the stoink market. Unfortunately I couldn't buy stoinks today because of Vanguard's 7-day hold when you transfer in money. Planning to buy PLTR, SPCE, META, AMZN.
we keep climbing out of the hole - apple saved the world again, it looks. And the PCE number was ok for once. Combined with other central banks becoming dovish, the market sees some good times ahead.
I expect the same end of friday dip that we always get, but still, this is good. Stocks up 6% for the last 30 days is just fine with me. Bonds flat, which is a positive change.
I'm re-entering the stoink market. Unfortunately I couldn't buy stoinks today because of Vanguard's 7-day hold when you transfer in money. Planning to buy PLTR, SPCE, META, AMZN.
If AAPL were to mirror the FB and AMZN experience we are talking $50s. I do not consider that unlikely.
Igy eats crow again.
Not at all true in practice. I sold shorts going into close yesterday, and in the aftermarket. Reloading shorts, so selling what you are buying today. Sorry for your indigestion.
Not at all true in practice. I sold shorts going into close yesterday, and in the aftermarket. Reloading shorts, so selling what you are buying today. Sorry for your indigestion.
And I addressed each and every one of those deductions. Most were caused by legislation passed before he took control of the oval office.
You did not address why Trump claimed he filled it to 100% full, but the volume actually dropped during his tenure. Nor did you address Trump’s selling the oil as a political ploy.
I addressed those items. Trump tried to fill it with 77 million barrels at $24 a barrel but the Democrats blocked it. Here is a breakdown of actions during each recent administration that affected the Strategic Petroleum Reserve (excluding exchanges which have no impact as they are refilled).
Obama Era Actions (113+ million barrels)
Libyan War - 30+ million barrels
Bipartisan Budget Act of 2015 - 58 million barrels
21st Century Cures Act - 25 million barrels
Trump Era Actions (17 million barrels)
2017 Trump Tax Cuts and Jobs Act - 7 million barrels
2018 Consolidated Appropriations Act - 10 million barrels
Biden Era Actions (180 million barrels and counting)
for a while now, indexing has not been the way to go. It’s been easy to beat the market with value. Looks like that will continue for a while.
Apple announcing earning Th. after close. Strong results from them could reverse all that, just as disappointing results from Alphabet and MSFT causing overnight futures to go down.
I’ll pour one out for Jerry Lee tonight - the last of the first generation. That beat he made with his left hand on the piano is one of the greatest sounds ever created by man.
Why oh why did we trade in Jerry Lee and Chuck Berry for Kanye?
Earnings Scorecard: For Q3 2022 (with 52% of S&P 500 companies reporting actual results), 71% of S&P 500 companies have reported a positive EPS surprise and 68% of S&P 500 companies have reported a positive revenue surprise.
