Job Cuts Are Everywhere Now we have the April job cuts report. It is exactly as you’d expect in that there were the most job cuts ever. The chart below shows there were 671,129 job cuts which is by far more than any month in the prior 3 recessions. As the graphic shows, this is
Suckers Do Well Bears are calling this a suckers rally. They have to do that because they predicted for years that when the party in stocks ended, there would be a long downturn in markets without a new high for years, or even decades if we followed Japanese markets. Rather than taking years, this b
Jobless Claims Fall Again As expected, in the week of May 2nd, initial jobless claims fell again. This time they were down from 3.846 million to 3.169 million which was above estimates for 3.041 million. Prior week’s report was only revised higher by 7,000. Initial claims are now below their 4 week
Living In The Cloud Stock market had a rough day on Wednesday, but the cloud stocks did well again. This market is in the clouds. If you don’t own a big tech stock or a SAAS stock, your portfolio is likely underperforming. This situation reminds me of 2007 and 2008 when the agriculture and energy
Q1 Earnings Update As predicted a few weeks ago, Q1 earnings season has been bad, guidance, has been nonexistent, and stocks haven’t sold off. Obviously, a few individual names have declined on weak earnings, but overall, the market has done fine. That’s because the large tech companies are outperfo
Another Rally: Georgia Reopens The stock market rallied again on Tuesday. It fell from the peak on the day, but it’s still very close to its bear market high. Specifically, the index was up 0.9%, but it fell 1.02% in the last hour of the session. The index is only down 2.42% from its bear
Bottom In Same Store Sales Growth? Last week’s Redbook same store sales growth report could be an indicator of the bottom in growth or that the bottom might be reached in a couple weeks. Many are now predicting this week’s report to be the bottom in same store sales growth. We are slowly starting to
Slight Rebound On Monday With More Coming Tuesday From the peak last week to the trough on Monday, the market fell about 4.8%. That was the 5% pullback we called for. Like clockwork, the stock market rebounded from the morning decline to close higher. S P 500 increased 1.5% from the morning low to c
Better Q2 GDP Predictions When COVID-19 first started spreading in America, Q2 GDP estimates imploded. Investment banks and economists were all rushing to lower their guesses as quickly as possible. In some respect, every estimate is partially a guess, but this situation implied much more guessing w
Mini Correction Is Here Some investors predicted the correction we are experiencing just a couple days too early. It was clear a correction was coming because the number of new COVID-19 cases is plateauing instead of falling like in other countries. Plus, it was a buy the hope of states reopening an
