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The Morning Call--The Best Thing To Do Is Nothing

Sep. 11, 2020 9:05 AM ETORCL
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Value, Growth At A Reasonable Price, Dividend Investing

Seeking Alpha Analyst Since 2010

Steve Cook received his education in investments from Harvard, where he earned an MBA, New York University, where he did post graduate work in economics and financial analysis and the CFA Institute, where he earned the Chartered Financial Analysts designation in 1973. His 46 years of investment experience includes institutional portfolio management at Scudder. Stevens and Clark and Bear Stearns, managing a risk arbitrage hedge fund and an investment banking boutique specializing in funding second stage private companies. Through his involvement with Investing for Survival and Seeking Alpha, Steve hopes that his experience can help other investors build their wealth while avoiding tough lessons that he learned the hard way.

The Morning Call


The Market


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



The Economy


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


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.


US on track for strong third quarter recovery.

US Q3 GDP Outlook Remains On Track For Strong Rebound

Update from my favorite optimist.

Promising signs

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


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.

Smoke and Nukes

An endless responsibility.

An endless responsibility

Visit Investing for Survival’s website (Home | Investing for Survival | Investingforsurvival.com) to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.

Analyst's Disclosure: I am/we are long orcl.

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