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BULLISH, but possible Weakening Economy , MidEast crisis


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#31 dTraderB

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Posted 08 November 2023 - 09:02 AM

"Job Cuts Are Mounting This Earnings Season. Its a Warning for the Economy.
Corporate America is starting to make the difficult decisionsit may be an early warning for the U.S. economy.

If lackluster guidance has been the key theme of earnings season, cost-cutting measures arent far behind.

Layoffs are not widespread, at least not yet, but its perhaps enough to make investors sit up and take notice. Virgin Galactic said Tuesday high interest rates and geopolitical unrest meant near-term capital was harder to come by, so its cutting jobs. Citigroup is reportedly considering reducing 10% of its 240,000 employee numbers. German chemicals giant Bayer is cutting jobs and exploring a split.

And those are just in the past 24 hours.

The picture is changing quickly in some sectors. Delta Air Lines announced corporate layoffs last week, not long after a record third quarter.

While companies have their own specific reasons for the cuts, the timing is no coincidence. The macroeconomic environment is making businesses take a good look at operations.

The economic data are supporting the recent flurry of corporate anecdotes. The unemployment rate is up half a percentage point from its low, jobs growth is slowing along with the number of hours worked, and continuing jobless claims are well above their lows.

Its still at a very early stage, and all of the above are actually necessary for the Federal Reserve to execute the fabled soft landing.

So its all well and good for now, but a more widespread trend of layoffs could increase the odds of a hard landing."
-- WSJ

#32 dTraderB

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Posted 08 November 2023 - 09:07 AM

Osc hits an astonishing 300 & pulled back to under 150!

https://www.mcoscill...t_breadth_data/

#33 12SPX

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Posted 08 November 2023 - 10:21 AM

Market is becoming so unhealthy seeing barely any volatility with call options screaming bullish.  I sure hope next year the market will have more periods of just regular grind.  As I said on andre's thread this 7 day almost 7% advance at this pace indicates a +40% advance into the end of the year and that isn't healthy and sets us up for another big spill next year.  So prefer grinding up and down keeping the market healthy into year end but this is setting up for another massive sell off if we don't see at least a -1.5-2.0% correction soon lol!!  Still holding my short averages at 4350 and 15130.....



#34 12SPX

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Posted 08 November 2023 - 10:24 AM

hahaha open chatgpt is down in a major outage?  I thought with artificial intelligence it would have worked itself out lol!! 



#35 dTraderB

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Posted 08 November 2023 - 11:15 AM

Also trading crude oil today ... wild!

#36 dTraderB

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Posted 08 November 2023 - 11:19 AM

Many newbie LONGS will be trapped. Hope not but they face daunting odds & will learn.

Market is becoming so unhealthy seeing barely any volatility with call options screaming bullish.  I sure hope next year the market will have more periods of just regular grind.  As I said on andre's thread this 7 day almost 7% advance at this pace indicates a +40% advance into the end of the year and that isn't healthy and sets us up for another big spill next year.  So prefer grinding up and down keeping the market healthy into year end but this is setting up for another massive sell off if we don't see at least a -1.5-2.0% correction soon lol!!  Still holding my short averages at 4350 and 15130.....



#37 dTraderB

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Posted 08 November 2023 - 11:24 AM

Closed all NVDA positions. Good run, bank profits. Will reopen much lower than it is trading now 464.3

#38 dTraderB

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Posted 08 November 2023 - 11:27 AM

Yields down. $ falling... should be bullish

#39 12SPX

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Posted 08 November 2023 - 11:32 AM

Was just going to comment on that d lol!!  I've been talking about the shift from lower bond yields in helping stocks to lower yields hurting stocks because of the worry about to much of a slowdown and think were a little early for that still but you never know....



#40 dTraderB

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Posted 08 November 2023 - 01:09 PM

Will adjust AAPL PUT ORDERS.
Want fills on next mini rally.