Monday in the charts.
Has the correction arrived?
Month to date retail chain store sales improved from the prior week.
December construction spending rose 1.0% versus expectations of +0.9%.
The January manufacturing PMI came it at 59.2 versus projections of 59.1.
The January ISM manufacturing index was reported at 58.7 versus consensus of 60.0.
Q4 EU flash GDP growth was -0.7% versus forecasts of -1.0%.
The short squeeze
Understanding a short squeeze.
The ongoing Reddit phenomena.
Why Robinhood was forced to restrict trading in GameStop (and other) stock.
A different perspective.
And a word of caution.
What the Hunt brothers can teach us about gamma (short) squeezes.
The Fed and the Japanification of America.
The ECB and the Argentinafication of Europe.
New cases decline 25%.
Bottom line. Equities had a good day as the impact that the Reddit crowd has had on Market appears to be dwindling. Indeed, this whole affair could already be over. I just don’t know. And until I do know how this circumstance plays out, I believe that this is a time to do nothing. If you want to better understand what is occurring, I have included a collection of articles above.
News on Stocks in Our Portfolios
Exxon vows no cut in its dividend,
Emerson Electric : Q1 Non-GAAP EPS of $0.83 beats by $0.15; GAAP EPS of $0.74 beats by $0.15.
Revenue of $4.2B (+1.2% Y/Y) beats by $230M.
UPS : Q4 Non-GAAP EPS of $2.66 beats by $0.52; GAAP EPS of -$3.75 misses by $5.83.
Revenue of $24.9B (+21.1% Y/Y) beats by $2.05B.
Franklin Resources : Q1 Non-GAAP EPS of $0.73 beats by $0.03; GAAP EPS of $0.67 misses by $0.03.
Revenue of $2B (+43.9% Y/Y) beats by $40M.
What I am reading today
Tuesday morning humor.
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