The Five Most Important Things That Happened Today and What to Do About Them
1) Mad Hedge Market Timing Index Hits a Ten-Year Low at 6, indicating that markets are an “EXTREME BUY”. Artificial Intelligence is never wrong. Go for quality tech. You pay your money and you take your chances. See my Global Trading Dispatch for where to load the boat now. Click here.
2) September Durable Goods Up a Hot 0.8%, versus -1.4% expected. When will the stock market start looking at the numbers again? My guess is now. Gotta love those Saudi weapons purchases. It was all defense-led. Click here.
3) Weekly Jobless Claims at 215,000 are Blistering as Always. My local morning breakfast dive could really use a new waitress. Maybe they should offer more than $10 an hour. Click here.
4) Tesla Announces Surprise Profit, except that it was not a surprise here. Stock has rocketed back to Musk pre-meltdown levels in the $320’s. Consumers are paying up to buy fully loaded electric vehicles to beat the expiration of federal subsidies at the end of the year. Click here.
5) American Airlines Gets Slaughtered, with soaring fuel prices eating up most of their profit. Two hurricanes didn’t help either. If you can’t make money now in this peak economy, when will you? No wonder the PE multiple is a bargain basement six times. Click here.
Published today in the Mad Hedge Global Trading Dispatch and Mad Hedge Technology Letter:
(THE LAZY MAN’S GUIDE TO TRADING),
(THE NEXT THING FOR THE FED TO BUY IS GOLD),
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.