Monday’s trading session was bullish and the trend remains up regardless of the fundamentals. The most positive development was the broadening out of market strength. Last week was all about mega cap tech pulling up a thin market. Today the…
The most important earnings this week were Microsoft (MSFT) and Google (GOOG / GOOGL) Tuesday afternoon and now Apple (AAPL) and Amazon (AMZN) Thursday afternoon. The former posted stellar results and carried the market higher for most of the day…
On Friday, the market opened strong only to suffer a powerful intraday reversal before recovering somewhat. This created a “doji” on the S&P 500 which is a sign of “indecision” and a potential “trend reversal indicator” according to the technician…
Monday’s trading day was all about Tesla (TSLA) which rose 12.66% on 3x average volume, adding $130 billion in market cap on news that Hertz is going to buy 100,000 cars for $4.2 billion over the next 14 months. Obviously…
The combination of all this fiscal and monetary stimulus is turbocharging what Keynes called aggregate demand. All that demand is putting tremendous stress on the global supply chain resulting in bottlenecks and raw material inflation. The inflation we are now…
There are a number of companies on a different fiscal year whose quarter ended at the end of August rather than September and therefore give us a preview of what to expect when 3Q earnings season swings into full gear…
This afternoon, dating app Bumble (BMBL) reported second quarter earnings. Last Tuesday, Tinder parent Match (MTCH) reported the same. If you want a date, check them out. But what about the stocks? Let’s start with Tinder. Tinder is the leading…
The most important event of the week was the Fed Decision on Wednesday afternoon. While the Fed did not make any policy changes (the Fed Funds Rate continues at 0% as well as $120 Billion/month in asset purchases) they did start to talk about inflation raising the possibility of tapering asset purchases and raising interest rates down the road. That was enough to create a dramatic reaction in financial markets.
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Almost a decade ago, when DoorDash (DASH) was just getting started, I needed money and took a temp job at their small headquarters at the corner of Page Mill Road and El Camino in Palo Alto, CA. My job was to call local restaurants to get their hours for an upcoming holiday and enter that information into a spreadsheet. It was mind numbing work and it didn’t pay much.