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Earnings On Deck

Daily Rap 10-22-2018

At one point last night the SPOOs were about 0.5% weaker, but a 4%-ish rally in the Chinese market helped right the ship, and those futures were higher early on, as was the market overall, before we saw a selloff that produced some bifurcation. That is, by midday the Nasdaq was over 0.5% higher while the Dow and S&P were fractionally lower.

In the afternoon, the indices weakened somewhat and remained mixed, closing near the lows of the session.

Away from stocks, green paper was the flavor of the day, fixed income was a touch higher, and the metals were a little weaker, as were the miners.

Don't Act Now Earnings season will rev up even more this week, giving us a chance to see how the news for Q3 and expectations for Q4 are digested. If the news can't...more


Last year's posts for Ask Fleck

Q: Please excuse me if this question is outside the ball park, but I am one of what I assume to be thousands who lost money as a result of Elon Musk's famous tweet last August. regarding the $420 buyout, "funding secure". Do you, or any of your well schooled subscribers know where one goes to file a claim of loss against Musk/Tesla? I am used to taking losses, but since this instance has been SEC certified as illegal behavior I assume that some shareholder redress is possible.

Thanks

Fleck: In theory, there could be some class-action lawsuits. Then again, I have never seen a short seller lawsuit before. Perhaps you can Google it.
(posted: 10/19/2018)


Q: Bill, I have read a couple reports by alleged PM experts that the dollar is going to absolutely soar and go well over 100 on the index, putting gold at 600-900 an ounce. Do you think this has any cred?

Fleck: No, I do not. How do you know they were "experts"? Did they tell you they were? Everyone who can spell it thinks they are an expert on gold.
(posted: 10/19/2018)


Q: I just wanted to thank the poster who suggested to buy puts or short LQD (Investment Grade Corporate Bond ETF) - a lot of good points were made in that post.

Fleck: Agreed.
(posted: 10/19/2018)


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