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The Morning Call--Beware The Speculative Frenzy

Feb. 23, 2021 9:22 AM ETBNS, BNSPF, HD, MDT
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The Morning Call


The Market


Monday in the charts.

Big Tech, Bitcoin, & The Buck Battered As Commodities Crash-Up



The Economy


Month to date retail chain store sales fell slightly less than in the prior week.

The December Case Shiller home price index was up 0.8% versus +1.1% reported in November.

The February Dallas Fed manufacturing index came in at 17.2 versus 7.0 reported in December.

February Dallas Fed Manufacturing


December UK unemployment was 5.1%, in line.

January EU CPI was +0.2%, in line.


Update on seven high frequency indicators.

Seven High Frequency Indicators for the Economy

For the optimists.

On the Post-Pandemic Horizon, Could That Be ... a Boom?

Yellen sets stage for higher corporate taxes, yield curve control and a digital dollar.

Yellen Sets The Stage For Higher Corporate Taxes, Yield Curve Control And A Digital Dollar


Investor inflation fears are rising.

Opinion: Inflation is rising and so are investors' fears about stocks

Inflation here, there and everywhere.

Inflation Here, There and Everywhere - Knowledge Leaders Capital

What is inflation exactly?

The True Challenge With Inflation Is That So Few Know What It Is

Bottom line. Pay attention to the first two articles below. They address the growing level of speculation in the Market. Most bull markets end when investor greed becomes a dominant driver of securities prices. Both authors are suggesting that the equities markets have reached that stage. That doesn’t mean the feeding frenzy can’t go on; and as long as the Fed keeps pumping and government spending keeps jumping, it seems likely that it will. But their warnings are there. Be mindful of the exogenous event.

Beware the mania.

Substack Vertigo

The frenzy of speculative excess.

A Frenzy Of Speculative Excess

A ‘V’ shaped recovery in earnings.

S&P 500 Earnings: V-Shaped Recovery

Rising rates do not necessarily spell doom for the stock market.

How Does the Stock Market Perform When Interest Rates Rise?

News on Stocks in Our Portfolios

Medtronic (NYSE:MDT): Q3 Non-GAAP EPS of $1.29 beats by $0.14; GAAP EPS of $0.94 beats by $0.22.

Revenue of $7.8B (+1.0% Y/Y) beats by $30M.

Bank of Nova Scotia (NYSE:BNS): Q1 Non-GAAP EPS of C$1.88 beats by C$0.32; GAAP EPS of C$1.86 beats by C$0.30.

Revenue of C$8.07B (-0.9% Y/Y) beats by C$490M.

Bank of Nova Scotia (NYSE:BNS) declares CAD 0.90/share quarterly dividend, in line with previous.

Home Depot (NYSE:HD): Q4 GAAP EPS of $2.65 beats by $0.03.

Revenue of $32.26B (+25.1% Y/Y) beats by $1.69B.

Home Depot (NYSE:HD) declares $1.65/share quarterly dividend, 10% increase from prior dividend of $1.50.

What I am reading today

Life is too precious to be lived mechanically.

How We Tranceform The Mindscape

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 bns, hd, mdt.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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