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Bad News Doesn't Matter Much, Yet
Daily Rap 11-16-2023
Negative results from Walmart, Palo Alto Networks, and Cisco all triangulate to a weaker economy and all those stocks were punished. Regretfully, I wasn't short any of them, but in any event, the market compartmentalized those problems and was about flat at midday with mindless buying of popular mega-caps still intact. I had to leave shortly thereafter, so please check the box scores to see what transpired in the afternoon.
Away from stocks, green paper was basically unchanged, fixed income was strong, and the metals were as well, with gold 1% higher while silver added 1.5%. The miners were having a decent day as well, though nothing extraordinary. The big kickoff move of recognition that the metals are headed higher still has yet to...more
Last year's posts for Ask Fleck
Q: How are you managing your call options on envx which expire this Friday? Curious to know your methodology and risk management. Do you unwind a certain %, take out cost basis and let the rest run, sell a certain % incrementally higher, etc.
Fleck: I'm not sure what I will do exactly, I took out my cost - I may exercise them.
(posted: 11/15/2023)
Q: Caught this yesterday from Mike Green. Do you think this could be the potential start of slowing down passive flows?
Tweet
Fleck: No, it will take time for this to spread and gain participation... It's worth watching, but for now it's meaningless IMO.
(posted: 11/15/2023)
Q: Hey Bill,
It occurred to me during another sleepless night over my gold stock portfolio that there might be an inverse correlation between the number of daily posts on Ask Fleck and the subsequent performance of the precious metals equities?
Just saying …..
Ps I’m a little nervous posting this and increasing the count !
Fleck: "Sleepless night" or frustrating day? But in any case, I suspect you are correct.
(posted: 11/15/2023)
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