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I literally fell asleep 10 minutes after making that Quicken Loans post
was gonna comment on how indices recovered from the lower futures but was to tired 😛[quote=”CautiousInvestor” post=4584]A3 must be awake & buyin’ now 😉 8) … DOW went 355 down to 25,165 as session low & later went green … still in high volatility it’s down now about 48 points but seems to be holding[/quote]
[color=navy][size=5]Good morning and hope we stabilize some today …
Futures were GREEN just a few minutes ago, but FUTURES fallen to minus 250 … it is CAT-and-MOUSE in the Futures PITs :woohoo:
Some interesting Reasons for plunge heard over past few days:
1. GREENSPAN — he noted that there are TWO bubbles (Stocks & Bonds both) — but what does he know – lol 🙂
2. During 8 years of #44 we lived in an era of CHEAP MONEY backed up artificially with ZIRP …
3. NEW FOMC leadership — The switch from Janet to “Jerry” is gonna be PAINFUL but eventually better long term … the days of EZ money is coming to end
4. It;s all #45’s fault 😉 🙂 … LOL – certainly FAKE news is happy to report
5. FEAR creates PANIC and OVER SELLING — Mitch S. noted a 30% to 50% possible correction as we have been overdue for a bear market correction for years ….
6. I’m definitely not that BEARISH — but I’m more in camp of seeing P/Es being around 14 to be truely balanced price-wise (at least that’s what we learned in ECON 101 in college – lol) … we are more in low 20s[/size][/color]
[color=teal][size=3][b]BEARS & BULLS are playing “CAT & MOUSE” in the FUTURES pits 😉
As DOW FUTURES bounce from 300 down back to green :whistle: … and then back down the express elevator again :woohoo: :woohoo: :woohoo: :woohoo: :woohoo: :woohoo:[/b][/size][/color]
Nikkei 225 closes lower by 4.73% at 21,610.24
Germany December factory orders m/m +3.8% vs +0.7% expected
Germany January construction PMI 59.8 vs 53.7 prior
Eurozone January retail PMI 50.8 vs 53.0 priorI try not look at P/E multiples by indices or market as a whole
each sector has its weighted average
tech sector has higher P/E then utilities – because of growth expectationsWith that being said, trailing and forward P/E multiples did not justify the increase in the broad stock market rally – that was Trumpism
To me this is a FAKE SELL OFF when you look at reasons why … Economic conditions are no better or worst than a month ago? Still, the experienced PROs & pit traders may try to catch folks napping on market RISKS … Just like BITCOIN sell off — sudden realities cause a shift of sentiment. GOVT shutdown II is only thing that keeps me from going back into equities — but I might start buying gradually some on these massive dips (whether falling knives or not) … this is likely just a cyclical needed correction to reset valuations & higher we go from there 8)
the sell off is due to increased expectations that the Fed will raise rates faster
notice yesterday at 3;10pm ET buying back in
Redbook Chain Store Sales: +3.0% Y/Y vs. +3.2% last week.
Month-to-date chain store sales +3.2% Y/Y.
February sales are expected to be up 3.6% Y/Y.
[quote=”CautiousInvestor” post=4618]UN-BULL-EVIL-ABLE … After a minus 576 POINT swan dive on the DOW — we’re back to GREEN 8)[/quote]
can I take a nap now or should I wait?
Target (NYSE:TGT) is now up 2.20% as the rush into retail names as an investment option continues.
Other notable retail gainers not reported on earlier include Lands’ End (LE +5.6%), Guess (GES +5.2%), Francesca’s (FRAN +4.9%), Pier 1 Imports (PIR +5%), GNC Holdings (GNC +4.1%), Genesco (GCO +5.4%), Buckle (BKE +3.9%), Office Depot (ODP +3.8%) and Finish Line (FINL +4.1%).
Walmart (NYSE:WMT) is lagging the sector a bit, only up 0.4%, presumably held down a bit by its heavy inclusion in index funds.
The SPDR S&P Retail ETF is now up 2.85%.
[size=5]DOW actually went officially into “correction territory” (10%) with the 567 point sell off at open … and then has between 200 points +/- with some improved stability … here’s hoping it will hold 🙂
P.S. this article noted there is too many risky & leveraged funds that will cause it to one day implode (but some of these type experts have been saying that for years).
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