The Morning Call--The Best Thing To Do Is Nothing
Value, Growth At A Reasonable Price, Dividend Investing
Seeking Alpha Analyst Since 2010
The Morning Call
9/11/20
The Market
Technical
The Averages (27534, 3339) resumed their decline yesterday, making a lower high. The question now, is where will they find support? Wherever that is I am not changing my current operating assumption that the Market’s bias is to the upside long term---until QEInfinity/Forever either comes to an end or investors conclude that it has been, is and will be an economic disaster.
Speaking of which, the Fed bought no bond ETF’s in August.
Is Powell Sending A Message: The Fed Bought No Bond ETFs In The Entire Month Of August
Gold see sawed back lower, making a fourth lower high but remaining above that July/August minor support level. In other words, consolidating. TLT was up ½%, but it too seems to be consolidating. The dollar was up; but its chart remains the ugliest of those indicators that I follow. All in all, nothing of informational value in the pin action of these indicators.
Key charts to watch.
Key Charts: Technicals Keep "Firing Warning Signs" On A Big Structural Level
Thursday in the charts.
Brexit Butterflies & Bailout Bill Breakdown Crush Cable, Bust Big-Tech Bounce
Fundamental
Headlines
The Economy
US
August CPI came in at +0.4% versus expectations of +0.3%; core CPI was +0.4% versus +0.2%.
US Consumer Prices Accelerate In August; Used Car & Furniture Prices Spike As Rent Inflation Slows
International
July UK industrial production rose 5.2% versus estimates of up 4.0%; GDP grew 6.6% versus 6.7%; its trade balance was -L8.6 billion versus -L6.9 billion.
August Japanese PPI was +0.2%, in line.
August German CPI was -0.1%, in line.
August Chinese loan grow was up +13%, in line.
Other
US on track for strong third quarter recovery.
US Q3 GDP Outlook Remains On Track For Strong Rebound
Update from my favorite optimist.
Container rates shattered as US imports surge
Container Rate Records Are Shattered As US Imports Surge
The surging euro is a problem for the ECB.
Surging Euro Presents E.C.B. With a Dilemma
The coronavirus
Lockdowns don’t (didn’t work).
The Evidence Keeps Piling Up: Lockdowns Don't Work
Senate dems block GOP pandemic relief bill.
Senate Democrats Using Filibuster To Block GOP Pandemic Relief
Europe’s ‘second wave’ builds.
France Suffers Record Jump In COVID-19 Cases As Europe's "Second Wave" Builds: Live Updates
China
The trade volume between the US and China is picking up.
Political Calculations: China, U.S. Take Positive Steps in Trade Between Countries
Bottom line. The best thing to do is nothing.
First (& Most Important) Rule Of Investing: Master The Art Of Doing Nothing
News on Stocks in Our Portfolios
Oracle (NYSE:ORCL): FQ1 Non-GAAP EPS of $0.93 beats by $0.07; GAAP EPS of $0.72 beats by $0.07.
Revenue of $9.37B (+1.6% Y/Y) beats by $190M.
What I am reading today
How to save more.
American spend about $18k a year on nonessentials. Here's how you can save more.
The California fires and climate change.
An endless responsibility.
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Analyst's Disclosure: I am/we are long orcl.
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