Oso planning to go pro
Ruble to dollar is higher than it was a year ago.
I think capitulation is still down the road. This is a perfect storm, in a bad way, for the market and I do not think we have seen the worst on the downturn.
Are we at capitulation yet?
I've been doing little bits of buying here and there, no selling. My limit order for a bit of UNP hit while I was playing (bad) golf today.
My buy list is growing, but I won't trigger anything yet. I did write some puts for ARCC at 18 which are getting close to in-the-money, but I am completely fine taking shares at that price with a 9%+ yield if it comes to that.
ARCC is a BDC rather than a REIT. I own a handful with an average yield of 8.3% as the part of my holdings where I am creating a sort of annuity.
https://nypost.com/2022/06/01/jpmorgan-ceo-jamie-dimon-warns-an-economic-hurricane-is-coming/
If you're paying attention, he predicts the next recession every year.
Job market still so strong that the market is foreseeing continued Fed tightening.Meanwhile, maybe Elon is learning (doubtful, though) that being a raging egotistical a-hole and turning off the people most likely to buy your product is a bad business move.
Fed with a .75% hike. Mr. Market seems to like both the raise and what Powell said at his press conference ... but given the action over the previous many sessions, the .75 seemed pretty baked in.
Futures say otherwise this morning.
Anyone out here trying to catch a falling knife? I'm just DCAing into my lazy portfolio through this, but prices on growth tech are making my mouth water.
Its ugly out there. I know the market has conditioned everyone to buy the minute we get a sizeable pullback, but I don't love market conditions. Powell actually handled himself well for once yesterday, hence the rally, but the reactions this morning can't be encouraging in any way. There hasn't even been a minor bounce. If the SPX doesn't recover 3705 today or tomorrow, I think bleeding continues. Not a lot to be bullish about