On the walls check out my twitter feed. See all the ridiculous speculative names people hope ill mention or pump same deal, no earnings, but right on stocks. These are textbook signs of what we call froth. Thats what this is. Its froth and you know what . All the froth got crushed today. Dow plunging 517 points, s p plummeting 117 , nasdaq nose diving 1. 55 not bad for an amateur so whats become too riskier let me give you an example last night kind of cool. We had novavax on, hottest stock on the market. Vaccine developer working on something for covid19 the stock runs from 18 to 40 in two days i cant recommend Something Like that thats this, you know, novavax is this, okay. Good guys, but it doesnt matter it actually managed to rally today. Maybe novavax wins the vaccine rate if they dont, the stock is going to get eviscerated id rather have you in something thats diversified glaxo, pfizer, j j same for biotech stocks. Anything related to ebola, flu, except regeneron they have little
Sure hope it z whidoes while we wait for that, the numbers hospitalized in china and the number that are released and die. Its going up to 20 of the nasdaq is up 2 that is where we should rollout our game plan for next week. First off, as you know, were closed for monday for president s day. China is very much open. I fear another awful set of statistics i dont know why more people arent investing in this they want people to go back to work they dont want to let people down so it cant be too discouraging. The whole world is hanging on the numbers. If this outbreak gode badly, it could turn into a crisis for the globe. Youll have executives fearing for their lives. Thats right, their very lives the infections will keep climbing and again, remember what i said from the very beginning. No one listened to me. Trust no numbers out of china. Dont trust them walmart reports. This comes with an Analyst Meeting this time. I heard a bunch of people predict this week that the quarter might be wea
Beefing down 168 points, it just scares the heck out of people like you wouldnt believe. I think some of those fears are a mistake. First look witness how we rebound today. Dow closed down, s p up, its okay to be concerned you should always keep a close eye on your stocks, theyre not cash i think worries about a devastation sell off lurking around the corner. There are a lot more benign forces working in this market. First its tough to pin this markets decline on anything in particular many people think its signals something is indeed wrong we just havent figured it out yet. Its like we believe someone knows something that we dont know and they were selling all kinds of stocks from retail, transports, oil and gas and the ba banks and of course the decks. Many markets find the lack of volatility to be disturbing. Today a very smart manager, david swing son, he ones yales endowment gave a talk he says he found the volatility profoundly troubling. Given the geopolitical attentions he talk
Today. Our road map begins with priceline. Shares falling what is driving the stock down . An 8. 5 billion deal creating a timber giant. And are big changes ahead at yahoo . Stocks make it a lucky seven. The three major indices in the midst of a winning streak. Small caps posted strong gains last week with the russell up 3. 25 percent. Jim, exports down 6. 9 in china, double the estimate. The consumer, this is what were focused on. Weve got singles day coming up. I think that will be the biggest day ever. Theres a propensity to recognize that maybe the government did the right thing by focusing on the consumer. The bulk rate shouwed you nothig will happen there. Theyre spending. Wage rates have gone up dramatically the last few years. Well above mexico. In china youre saying. Twice of what mexico is. They talk about 270 Million People in the middle class, theyre going 540 Million People over the next ten years. The numberses are incredible when you think about it in terms of where they
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