Investing General Discussion

Aldarion

Aldarion

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The July flash reading of manufacturing conditions from S&P Global fell to 52.3 from 52.7 in June, slightly ahead of an expected reading of 52 in a survey compiled by Bloomberg.

The manufacturing index was the lowest in 24 months and follows mixed readings in the regional manufacturing sector readings from the New York and Philadelphia Federal Reserve banks.

The index for services conditions declined to a 47 print in July from 52.7 in June, compared with expectations for no change. The reading is the lowest in 26 months and suggests contraction in the sector.

The composite reading fell to 47.5 in July from 52.3 in June, also a 26-month low.
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Will it matter? dunno, clown world, but I bought a bunch of SQQQ and SPXU over the last couple days
 
Falstaff

Falstaff

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Falstaff

Falstaff

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Mist said:
It's a combination of the fact that you can't predict future events AND you can't predict how other people will react to future events. The market isn't a derivative of future performance, it's a derivative of sentiment about future performance.
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ok
 
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Sanrith Descartes

Sanrith Descartes

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Sanrith Descartes said:
I honestly wouldbt be surprised to see some red today and I think it might be healthy to blow off some steam. We have a 3-day green streak and are green 4 of the last 5 days. SPY is above the 50-DMA as is QQQ. Its ok to be red today what we dont want to see is those indexes lose the 50. Last 3 days have been descending in volume which isn't positive.

SPY is about 1.9% above the 50 DMA so we got some room to breathe but not in the "we are safe" zone.
QQQ on the other hand is about 4.5% above the 50 DMA and I am feeling pretty good about that. QQQ need +2.8% move up to assault the 100-DMA and I would prefer it not even try today. I would rather see it consolidate today, maybe bleed slightly and then begin next week looking for the 100-DMA.
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Apparently when I said the SPY had room to breathe being 1.9% above the 50-DMA I was being a bit too generous. Losing the 50-DMA today would be...

Football Sport GIF by Barstool Sports
 
Big Phoenix

Big Phoenix

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Burns said:
Weekend read (cut from CNBC, so no need to brave their shitty site):

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www.cnbc.com

Mark Cuban says this was his worst 'Shark Tank' investment ever: 'Next thing you know, all of the money’s gone'

After more than a decade on ABC's "Shark Tank," Mark Cuban recently singled out the worst investment he's ever made on the show: the Breathometer.
www.cnbc.com www.cnbc.com
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Wasnt this guy a one trick pony? What other big things did he do after selling his invention of "streaming" media?
 
Burns

Burns

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Big Phoenix said:
Wasnt this guy a one trick pony? What other big things did he do after selling his invention of "streaming" media?
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Mark Cuban? He is a big name in Dallas, but the only things I know about him is that he has been the owner of the Dallas Mavericks for the last ~20 years and his Shark Tank shit. People seem to like him as a Basketball owner, but I don't watch basketball, so I wouldn't know.

Shark Tank was pretty popular and it's funny that he has lost money on the whole project. I wouldn't be surprised if that wasn't the case for all the "sharks."
 
Aldarion

Aldarion

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Well now that the WH has officially said even if we get two quarters of negative GDP thats not a recession... we'll literally have another recession again.

Is there anything Biden *can't* do?
 
Sanrith Descartes

Sanrith Descartes

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Aldarion said:
Well now that the WH has officially said even if we get two quarters of negative GDP thats not a recession... we'll literally have another recession again.

Is there anything Biden *can't* do?
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I'm pretty sure the algo's are programmed on the accepted definition of 2 consecutive quarters and not what the WH spokesperson says.
 
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