STOCK MARKET WATCH -- Friday, 22 September 2023

[Tansy_Gold]

STOCK MARKET WATCH, Friday, 22 September 2023

Previous SMW:
SMW for 21 September 2023



AT THE CLOSING BELL ON 21 September 2023


Dow Jones 34,070.42 -370.46 (1.08%)
S&P 500 4,330.00 -72.20 (1.64%)
Nasdaq 13,223.99 -245.14 (1.82%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:













Gold & Silver:






Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

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Quote for the Day:

The Fellowship did. How? Not through proposing laws or campaigning. Its politics were cultural, in the broadest sense; its methods the capture of leaders' souls, the eradication of their egos, the replacement of their will with Christ's. Their goals were not the rollback of the 1963 school prayer decision, or antiporn laws, or the "Christian Amendment," a perennial proposal to formally dedicate the nation to Christ. It was bigger, deliberately vague, and so long-term – think generations – that the Fellowship would never have to answer for its successes and failures.

Jeff Sharlet. The Family: The Secret Fundamentalism at the Heart of American Power. Harper Perennial. © 2008.

This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[bucolic_frolic]

1. Stocks smashed today Thursday

I don't think we're done with it. There might be a technical bounce when the budget deal passes. Value, tech plunge.

I lightened up over the last 2 months, but not nearly enough, and I have no hedges on right now except for PCG so today hit pretty hard relatively speaking.

Inflation has slowed but job numbers are still tight. So we're not slowing much

[Tansy_Gold]

2. I think we're due for a painful reckoning . . . .

. . . .that we're not prepared for.

I think -- and this is just my personal, uninformed opinion -- that "the economy" is almost too good right now. And I hesitate to say that, but it's been in the back of my mind for several months. We've been through this before with the various bubbles and busts, and maybe some of the deeper structural changes that have taken place since Biden took office will blunt some of the trauma. The divide between the billionaires and the rest of us has only gotten worse, and as the unions flex their muscles and more people unionize, the American oligarchs may retaliate. If there's a serious crash -- and I think most of us believe the markets are overvalued now and have been for a long time -- it will get ugly for a lot of people as The Few at the Top struggle to cling to what they think they're entitled to.

I've taken what few steps I can to protect myself, but I have no investments at risk, so I'm just looking at real life, a few assets, and what's coming down the pike for the rest of this year and next. After November 2024, we'll see what happens.

[Tansy_Gold]

3. Saw this on Xitter just now . . .

I've followed Sexton almost since the day I joined that site, and yes, I own some of his books and have read more than I own.

Link to tweet

[Warpy]

4. I do have some but most are there for income, not fast money

They're balanced by some bonds and since I never lived on my total income, I have abundant savings.

So I will be OK unless Putin starts lobbing nukes around. Then no one will be OK.

[Tansy_Gold]

7. Putin or . . . .

. . . . 💩

[DemReadingDU]

5. Same opinion here

I know a few people who share same concerns, but most are oblivious - vacations are a must every month, eating out everything every day, new house furnishings, new cars, spend spend spend using credit cards and loans. This will not end well for most. But I am speaking to the choir here.

[bucolic_frolic]

6. Everything you need to know about ecommerce and the economy in 3 charts

https://finviz.com/quote.ashx?t=EBAY&ty=c&ta=1&p=d

https://finviz.com/quote.ashx?t=PYPL&ty=c&ta=1&p=d

https://finviz.com/quote.ashx?t=AMZN&ty=c&ta=1&p=d