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It's a Mad, Mad, Mad, Mad World

Daily Rap 10-23-2020

Schizophrenic responses to earnings reports continued, the net effect being that for the most part, if you look at the recent two-day period around the earnings releases, most of the well-recognized companies did poorly. Even cult favorite Tesla was net-net unable to make any headway on its "earnings" report.

From the Doghouse to the Slaughterhouse What's particularly clear is, if a company is already unpopular, it really got slaughtered. Case in point, Intel, a company that I have done a lot of battle with over the years, saw its stock price hammered almost 15% due to slowing in parts of its business, on top of the well-understood manufacturing issues it has. However, at 10 times earnings and a yield of almost 3%, I would say its problems...more


Last year's posts for Ask Fleck

Q: Are you still short SBUX? If so, do you plan to hold through the earnings date (day after the election). I own OTM puts and am concerned that if there aren't election fireworks, even with a poor earnings report, I could see a lot of my premium go up in smoke. Do you believe my concerns are in the right vein of thinking?

Fleck: No, I covered it a while ago, stayed with IWM, and added a tiny bit of QQQ. Yes, I concur with your thinking.
(posted: 10/22/2020)


Q: Hi Bill,

Knowing your thoughts on inflation, do you own any bonds?

thanks

Fleck: No.
(posted: 10/22/2020)


Q: Hello,
When I read this open letter my head is spinning:

Link
Who is playing us?

Fleck: This is an excellent letter, IMO. I have been concerned since last May that once politicians basically declared martial law they would be very slow to give up the power. The policy in many places is not based on real scientific data, but peer-group pressure and incompetence on the part of local governments.
(posted: 10/22/2020)


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