On the SPY $320-350 summer, which would correspond to pre-pandemic high on EPS downgrades (Morgan Stanley view). SPY $210-230 late fall/winter on Fed tightening, persistent inflation, and frugal Congress speak.
210-230! Oh damn. Are you shorting SPY or buying puts?
weird how we keep getting one strong economic report after the next, earnings ests are steady, but we're basically on recession watch. People think the Fed is Godzilla, willing and able to destroy all that it sees. Will be fascinating to see how this plays out.
It WILL be fascinating. As you know, I don't give a hoot about the price of gas for myself personally, and usually for hoi polloi, I don't care too much either as for most of them the increase is negligible and really just something to complain about, but I would say the price of gas nationwide is at a point where it is really squeezing a lot of people.
Hopefully that will come down soon. In related news, I did see that the Chevy Bolt has greatly dropped its price (supposedly without any more battery fire issues).
weird how we keep getting one strong economic report after the next, earnings ests are steady, but we're basically on recession watch. People think the Fed is Godzilla, willing and able to destroy all thcrat it sees. Will be fascinating to see how this plays out.
It WILL be fascinating. As you know, I don't give a hoot about the price of gas for myself personally, and usually for hoi polloi, I don't care too much either as for most of them the increase is negligible and really just something to complain about, but I would say the price of gas nationwide is at a point where it is really squeezing a lot of people.
Hopefully that will come down soon. In related news, I did see that the Chevy Bolt has greatly dropped its price (supposedly without any more battery fire issues).
When the Chevy Bolt price is, let's say, $23,000 and the car has a huge tendency to self-ignite and completely burn the car to smithereens and burn everything within a quarter mile of it, I would think that that price for that car might not go down a bit. Maybe even go down a lot.
Leveraged short: SOXS, TZA, SPXS, and TZA. Everything on a short leash (pun intended). If working for me sell gradually; if working against me sell more, but add if I feel the market is over bought. Added aggressively yesterday. I realize that could have worked against me if the market perceived the jobs report disinflationary.
It WILL be fascinating. As you know, I don't give a hoot about the price of gas for myself personally, and usually for hoi polloi, I don't care too much either as for most of them the increase is negligible and really just something to complain about, but I would say the price of gas nationwide is at a point where it is really squeezing a lot of people.
Hopefully that will come down soon. In related news, I did see that the Chevy Bolt has greatly dropped its price (supposedly without any more battery fire issues).
When the Chevy Bolt price is, let's say, $23,000 and the car has a huge tendency to self-ignite and completely burn the car to smithereens and burn everything within a quarter mile of it, I would think that that price for that car might not go down a bit. Maybe even go down a lot.
What are you saying? That Chevy Bolt is overpriced? 26.6k is the cheapest EV now. My state has a $2500 rebate so it'd be $24.1k. This is cheaper than Nissan Leaf now.
weird how we keep getting one strong economic report after the next, earnings ests are steady, but we're basically on recession watch. People think the Fed is Godzilla, willing and able to destroy all that it sees. Will be fascinating to see how this plays out.
Why the S+P down over 1% and the NASDAQ more than 2% on this good news?
"Short-term stock market timers have been relatively quick to jump on the bullish bandwagon, and that’s worrisome. The more typical behavior at the end of bear markets is a stubborn refusal to believe that the major trend has turned up." -@MktwHulberthttps://t.co/3doeLf8it9
weird how we keep getting one strong economic report after the next, earnings ests are steady, but we're basically on recession watch. People think the Fed is Godzilla, willing and able to destroy all that it sees. Will be fascinating to see how this plays out.
Why the S+P down over 1% and the NASDAQ more than 2% on this good news?
Oh man it’s often foolish to cite one reason for the market’s moves….but today….the jobs number was strong, which gives the Fed more ammunition to wreck the economy, which will be bad for stonks. Hence, sell. and Elon musk said he’s terrified about the state of the economy. Hence, sell.
Why the S+P down over 1% and the NASDAQ more than 2% on this good news?
Oh man it’s often foolish to cite one reason for the market’s moves….but today….the jobs number was strong, which gives the Fed more ammunition to wreck the economy, which will be bad for stonks. Hence, sell. and Elon musk said he’s terrified about the state of the economy. Hence, sell.
2Q earnings ests are coming down but less than average.
full year unch so far.
I'm...just....not....that...frightened
FactSet @FactSet Analysts cut quarterly EPS estimates for $SPX companies for Q2 2022 by 1.3% from March 31 to May 31. This decline was smaller than average, but also the largest cut in 2 years
Simon was born in 1941 and so of course grew up worshipping Mantle, not Dimaggio.
So did Paul Simon see the same grace of Eleanor Roosevelt in DiMaggio? The songwriter's favorite Yankee was actually Mickey Mantle, and according to Wikipedia, when Dick Cavett asked why Mantle's name wasn't used instead of DiMaggio, Simon replied "It's about syllables, Dick. It's about how many beats there are."
ah I misunderstood. I thought you were saying that Mantle had the hitting streak.
But I also never heard the story about the song - good one.
OMG, the ambience of the reference totally changes if it were to be a reference to Mickey Mantle.
There's simply more to it than just best fit of syllables.
Come on, and the reference to "Boo-hoo hoo"? Remember, Joe DiM. was first and foremost, a modern era guy, being the star athlete who marries the prize wife (Marilyn Monroe)! Then upon her death, becomes the epitomy of loyalty and fidelity - virtues at the heart of the song written by Simon. Remember, the same Joe Di. who would send a dozen roses to Marilyn's grave three time a week and would never speak of her to the press, and never remarried.
Mickey Mantle totally changes the meaning and loses all that level of meaning. Using Mantle reduces it to a juvenile, knuckle-headed level, imo.
Honestly, I think this is a significant moment of self-reflection by a renowned bard speaking to his generation in one of the most popular and accomplished songs of an era. Simon hit it out of the park with referencing Joey DiMaggio, and i think his comment to Dick Cavett was only part of the explanation (in that it does sound a lot better than the alternative).
ah I misunderstood. I thought you were saying that Mantle had the hitting streak.
But I also never heard the story about the song - good one.
OMG, the ambience of the reference totally changes if it were to be a reference to Mickey Mantle.
There's simply more to it than just best fit of syllables.
Come on, and the reference to "Boo-hoo hoo"? Remember, Joe DiM. was first and foremost, a modern era guy, being the star athlete who marries the prize wife (Marilyn Monroe)! Then upon her death, becomes the epitomy of loyalty and fidelity - virtues at the heart of the song written by Simon. Remember, the same Joe Di. who would send a dozen roses to Marilyn's grave three time a week and would never speak of her to the press, and never remarried.
Mickey Mantle totally changes the meaning and loses all that level of meaning. Using Mantle reduces it to a juvenile, knuckle-headed level, imo.
Honestly, I think this is a significant moment of self-reflection by a renowned bard speaking to his generation in one of the most popular and accomplished songs of an era. Simon hit it out of the park with referencing Joey DiMaggio, and i think his comment to Dick Cavett was only part of the explanation (in that it does sound a lot better than the alternative).
and also, if the point of the song is a lost America...(where have you gone...) you would point to a former baseball player, not a current baseball player. Nostalgia is the point, not current affairs.
OMG, the ambience of the reference totally changes if it were to be a reference to Mickey Mantle.
There's simply more to it than just best fit of syllables.
Come on, and the reference to "Boo-hoo hoo"? Remember, Joe DiM. was first and foremost, a modern era guy, being the star athlete who marries the prize wife (Marilyn Monroe)! Then upon her death, becomes the epitomy of loyalty and fidelity - virtues at the heart of the song written by Simon. Remember, the same Joe Di. who would send a dozen roses to Marilyn's grave three time a week and would never speak of her to the press, and never remarried.
Mickey Mantle totally changes the meaning and loses all that level of meaning. Using Mantle reduces it to a juvenile, knuckle-headed level, imo.
Honestly, I think this is a significant moment of self-reflection by a renowned bard speaking to his generation in one of the most popular and accomplished songs of an era. Simon hit it out of the park with referencing Joey DiMaggio, and i think his comment to Dick Cavett was only part of the explanation (in that it does sound a lot better than the alternative).
and also, if the point of the song is a lost America...(where have you gone...) you would point to a former baseball player, not a current baseball player. Nostalgia is the point, not current affairs.
Good point. And supported by the line that ends the song would make no sense whatsoever with Mantle since Mantle didn't retire until 1969, but the song was written the previous year - while he was still playing!
lyric that ends the song:
"Where have you gone, Joe DiMaggio? Our nation turns its lonely eyes to you Woo, woo, woo What's that you say, Mrs. Robinson? Joltin' Joe has left and gone away"
Earnings Scorecard: For Q1 2022 (with 99% of S&P 500 companies reporting actual results), 77% of S&P 500 companies have reported a positive EPS surprise and 73% of S&P 500 companies have reported a positive revenue surprise.
I would treat peak inflation like transitory inflation. Phrases used to discount the negative effects of higher prices. Today I received my real estate assessment, amazingly 38% higher than last year. Later in the day I filled my car with premium gas at Costco for $5.12 a gallon. It is hard for me to imagine the real cost of housing or energy taking a nosedive anytime soon.
Video clipped from HalfTime Report on CNBC on 2022-06-03. Despite all the worrisome factors, Tom remains bullish.... and this is a leap of faith that I will ...
When the Chevy Bolt price is, let's say, $23,000 and the car has a huge tendency to self-ignite and completely burn the car to smithereens and burn everything within a quarter mile of it, I would think that that price for that car might not go down a bit. Maybe even go down a lot.
What are you saying? That Chevy Bolt is overpriced? 26.6k is the cheapest EV now. My state has a $2500 rebate so it'd be $24.1k. This is cheaper than Nissan Leaf now.
Yep. It's the cheapest EV on the market right now. I'm not getting it or any EV just yet, but this does open the door for a lot of people who might want one.
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