Podcast EP 88 Go Ahead Make my Day! (Nov 9)

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Show Notes

Summary of the day

Yields Yields Yields!

The bond auction this afternoon was very very tepid. Low demand means lower prices to attract buyers. Lower bond prices results in higher yields. That was the sell off in the afternoon in a nutshell.

1pm circled

Apparently Jerome Powell had hawkish comments at the IMF panel today (which I haven’t watched).

Danielle DiMartino Booth

was interviewed today regards to Powell and I love how she refers to his “Dirty Harry” alter ego.

So sad that the global financial markets are at the whims of one man and one organizations decisions on rates.

Breadth

• 122 new highs

• 429 new lows

• 21% advancing 74% declining

• 66% below 50 day ma

• 69% below the 200 day ma

Stuck out

Was flat until the afternoon

TSLA and GOOG are below 50 day
the rest of Magnificent 7 are above

TSLA is the only mag 7 under its 200 day

Strong

AFRM

DIS

VIX

COIN

KGC

Weak

Anything sensitive to higher interest rates. Which is basically everything…

Here is just a sampling…

What to watch

Watch mag 7

Watch yields

Economic data

https://www.marketwatch.com/economy-politics/calendar