The Morning Call--Mark Cuban On The Reddit Phenomena
The Morning Call
2/4/21
The Market
Technical
Wednesday in the charts.
Big-Shorts, Bitcoin, Bond Yields, & Black Gold All Bounce
The VIX ‘feels’ low.
The dollar breaks its short term downtrend.
Hated and shorted dollar squeezing higher
One interpretation of the current bounce in equity prices.
Fundamental
Headlines
The Economy
US
Weekly jobless claims were reported at 779,000 versus projections of 830,000.
Q4 nonfarm productivity fell 4.8 versus estimates of -2.8%; unit labor costs rose 6.8% versus +4.0%.
The January services PMI came in at 58.3 versus expectations of 57.5; the composite PMI was 58.7 versus 58.0.
The January ISM nonmanufacturing index was 58.7 versus consensus of 56.8.
ISM Services Index Increased to 58.7% in January
International
The January EU construction PMI was 44.1 versus the prior reading of 45..5; the January German construction PMI was 46.6 versus 47.1 prior; the January UK construction PMI was 49.2 versus 52.9 forecast.
January EU retail sales were up 2.0% versus predictions of +1.6%.
Other
The CBO’s outlook and the GDP output gap---if Rogart and Reinhart are correct (too much debt inhibits economic growth) this gap won’t be closed even in 2025.
CBO's Outlook and the Output Gap
The case against inflation.
Inflation Is Up for Discussion
Ditto Europe.
The Fed
The Fed punchbowl fueling rampant home price appreciation.
"The Fed's Monetary Punchbowl Is Fueling Rampant Home Price Appreciation": AEI
The Bank of England leaves QE unchanged, prepares for negative rates but warns of inflation???
The coronavirus
Just a few weeks delay.
Just A Few Weeks Delay - Marginal REVOLUTION
Long haul coronavirus suffers cast new light on chronic fatigue sufferers.
Long-Haul Covid Cases Cast New Light on Chronic Fatigue Sufferers | naked capitalism
The short squeeze
Winners and losers in the Reddit fueled squeeze.
Meet The Hedge Fund That Made A Killing On The Reddit-Fueled Short Squeeze
Gambling is reckless.
Three Things I Think I Think - YOLO Gambling is Reckless - Pragmatic Capitalism
Counterpoint from Mark Cuban (must read).
The Store of Value Generation is Kicking Your Ass and You Don't Even Know it
Bottom line.
More valuations.
Regression to Trend: Another Look at Long-Term Market Performance
The Q Ratio and Market Valuation: January Update
January dividends by the numbers.
Political Calculations: Dividends by the Numbers in January 2021
News on Stocks in Our Portfolios
What I am reading today
Visa considering adding bitcoin to its network.
Visa Says "No Reason" Why It Cannot Add Bitcoin To Its Network
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