Today is Thursday and that means we get Initial Jobless Claims data. It will undoubtedly be another week of humongous job losses, no matter how the media tries to paint it as "slowing".
The market seems to succumb to reality a bit yesterday on renewed covid fears. Trump announced that the Federal support to testing facilities will be ended. And has continued to push the notion that more testing leads to more cases and therefore more fear. While there's a nugget of truth in that, there's also the idea that knowing how widespread it is, who has it, and then acting appropriately to contain the spread requires data. But that doesn't help his narrative that the virus is defeated.
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1) GM could be worth 2.5x it's current value on the EV business alone. Analysis was done by Morgan Stanley comparing GM's EV business to Tesla. The answer is that it's worth $100bn. GM is worth $40bn today. Ergo, it could be more than a double!
2) Apparently, this is called a "shooting star". When a stock or index makes a new all-time high while moving vertical. The Nasdaq and the largest companies inside of it look a lot like this..before yesterday.
3) Central banks have ended recessions, right? Interesting that recessions have gotten shorter and time between them longer as central bank intervention has increased. I wonder if recoveries would be stronger without the intervention, but I'm an anti-bailout person so not the right one to comment in these modern times.
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Yesterday, I added my weekly allotment to AWK at the open and bought STX in the morning. Both were probably a bit too early, if we keep seeing weakness in the market, but I'm happy with the price.
I continue to want to reduce gross exposure while also wanting to put on some more pair trades. I'm sure the winner of that mental battle will be more pair trades rather than reducing gross exposure, but we'll see.
I also continue to love my Lenovo Chromebook Duet. Seriously. It's fun. Typing on my main, large computer is like sitting in a La-z-boy vs. the cramped keyboard of the Duet, but that's not a bad thing. The Duet is a very capable machine.
The market seems to succumb to reality a bit yesterday on renewed covid fears. Trump announced that the Federal support to testing facilities will be ended. And has continued to push the notion that more testing leads to more cases and therefore more fear. While there's a nugget of truth in that, there's also the idea that knowing how widespread it is, who has it, and then acting appropriately to contain the spread requires data. But that doesn't help his narrative that the virus is defeated.
_______________________________________________________
1) GM could be worth 2.5x it's current value on the EV business alone. Analysis was done by Morgan Stanley comparing GM's EV business to Tesla. The answer is that it's worth $100bn. GM is worth $40bn today. Ergo, it could be more than a double!
2) Apparently, this is called a "shooting star". When a stock or index makes a new all-time high while moving vertical. The Nasdaq and the largest companies inside of it look a lot like this..before yesterday.
3) Central banks have ended recessions, right? Interesting that recessions have gotten shorter and time between them longer as central bank intervention has increased. I wonder if recoveries would be stronger without the intervention, but I'm an anti-bailout person so not the right one to comment in these modern times.
______________________________________________________
Yesterday, I added my weekly allotment to AWK at the open and bought STX in the morning. Both were probably a bit too early, if we keep seeing weakness in the market, but I'm happy with the price.
I continue to want to reduce gross exposure while also wanting to put on some more pair trades. I'm sure the winner of that mental battle will be more pair trades rather than reducing gross exposure, but we'll see.
I also continue to love my Lenovo Chromebook Duet. Seriously. It's fun. Typing on my main, large computer is like sitting in a La-z-boy vs. the cramped keyboard of the Duet, but that's not a bad thing. The Duet is a very capable machine.
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