Since the year is almost over, we thought that we look back to our first Odds and Ends: January 2022. We stated that it is the Year of the Tiger and it is hungry as well as the bears who were in hibernation. We mentioned the danger of the Russian buildup along the Ukrainian border. We gave a stat on hackers. As it turns out, another year passes with no one addressing the problem. This should be our foreign policy and not sending troops to police every world problem. Anyway, the year is ending with...
Job Cuts
They keep coming and the market does not understand the ramifications. HP announced 6,000 pink slips that will be given over the next 36-months. Consider these other teck firms: META=11,000, Amazon=10,000, and 700 other teck firms throwing in the towel. Keep in mind that teck was the force behind the bull market and now, they scream bear in the street!
It is not just teck. Carvana, Cisco, Lyft and Stripe are adding to unemployment. You can see that some big money sees the writing on the subway walls. Checkout Tesla. It was $417 last November. Last Friday, it closed up at just $182. Dear Reader, we see $125 as a real possibility. We think Elon Musk has vision, but we do not like him as a person. He is definitely anti-worker just like Jeff Bezos who said that he will probably leave billions to do good for the climate, but he does not give a good economic climate to his help. Take a look at oil. It has been in a long downtrend. There is a possibility of oil falling to $60-bucks. If it does, it will be a buying opportunity to purchase a strong oil company. Oil is not going away anytime soon. PS: Chevron just received a US license to pump oil in Venezuela, again.
Once last thought on the present market outlook. There are lower gaps in the Dow, S&P and Qs. The trend is to close them. The dollar is boucing. This points to a pullback. Then, the calender suggest the Christmas rally. However, January is a cold, wintery month. We expect the rally will be short lived. January is also the yearly barometer. We are not aware of the title to 2023, but it looks tough for the market.
Thanksgiving?
We hope yours went well, but the idiocy of constant shootings forces us to address this question. Your ego was so hurt that you decide to KILL! Of course, this will most likely be your last act on earth. You will die in the process. However, the next moment you will face God. Think about that?!
Meanwhile...
China keeps pushing the envelop to gain financial influence. Last month, they made their first cross-border transaction in digital currency. In 2020, they began the process by having its central bank use digital money domestically in a region that has 350-million people. The idiots in Europe and Davos want to maintain good relations with Red China. Listen up you elite assholes, China controls exports and they are number one in manufacturing as well as a dozen other categories. Once they grab finances, only satellite communication will be the last frontier for them to reveal their true colors, world domination. We repeat our first sentence in our first Odds and Ends 2022, this is the Year of theTiger.
Try to enjoy the holidays. Try to buy American and do some good in His world. Peace.
