Having navigated through 2022's calamities thus far, I'm compiling some random thoughts going into 2023. More timely updates on my Twitter feed: @scottaholden
- Retail earnings the week of 11/14. I think that inventories are very high and promos could be on deck which would impact margins. Watching DKS (109) and/or ASO (45) for disappointment. However, Walmart (148) is up 10 (7%) this morning on strong earnings.
- I still feel like we could get a little more Santa Claus rally setting up for another great short opp in January. Was looking for SPY 400 and we're there this morning (402). see Twitter post October 30th
- Cryptos in trouble with FTX fallout. Bitcoin at $16,900. SPY went sub-350 in October. Still feeling Tesla is a sub-100 stock by the time this is all over. see Twitter post April 26th
- Speaking of Tesla. At today's $198 it still has a $600+ billion valuation. see Twitter post on $TSLA
- A cooler CPI number last week indicated 7.7% vs 7.9% inflation and the SPY rallied 6% in a day. Even if the FED does "pivot" in December's meeting, it doesn't mean that we're in the clear. Lows have been put in AFTER a FED pivot or even a cut in rates. Today's PPI number was favorably under expectations, .2% vs .4% expected.
- More layoffs are seen every day. Today, Apple announced slower hiring.
- Nvidia (169) earnings tomorrow, 11/16.
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