The recent market decline looks like the Leopold liquidation without Leopold liquidating.
That, to me, is worrisome as it is not “event driven” by a temporary and one-time very large seller.
Moreover, as mentioned earlier this week, the selling is happening in multiple asset classes (e.g. bitcoin, gold, etc.) and is not confined to large-cap technology.
Caveat emptor.
Position: None
It’s not only me that is critical:
rolf thrane
I was listening to Josh Brown yesterday when someone pointed out here – that he had the company’s market cap wrong. I know the company extremely well, and for various reasons, I can’t trade in it. He seemed to have little understanding of what it actually does beyond a vague reference to clinical trials. It’s a very complicated business; unless he has an analyst dedicated to following it, he has no chance. I say that from firsthand experience. That’s the problem with much of the commentary on CNBC: It is a narrative, zero actual analysis of the businesses, with a few exceptions.To go further on this – it was trading in the dump for most of the year, and then it exploded up. And now Josh is interested. CNBC loves stocks that have already gone up.
Position: None
Final October University of Michigan read improved but remained at a five-month low. Buying conditions for durables hit a record low and inflation expectations rose to the highest since May with the report warning against them becoming ‘entrenched.’
Customer spending plans drive one move, while the domestic manufacturing economy does the other.
*I should not have tuned in after a hiatus:
Position: None
From Brad Gerstner to Stanley Druckenmiller, these stocks keep appearing in the portfolios of some of Wall Street’s smartest tech investors.
Position: None
October flash composite PMI eased to 57.6 on services deceleration but stayed close to September’s five-year high, with new orders at a 4.5-year high.
Elon Musk’s latest move could signal the future of telecom. Here’s how I’m trading the initial reaction.
