The Morning Call
5/6/21
The
Market
Technical
Wednesday in the
charts.
https://www.zerohedge.com/markets/commodity-chaos-continues-stocks-refuse-bounce-after-janets-jolt
Stocks, bonds and
higher inflation.
https://compoundadvisors.com/2021/stocks-bonds-and-higher-inflation
Retail buying
starting to fade?
https://www.zerohedge.com/the-market-ear/cdyyegfhbm
Fundamental
Headlines
The
Economy
US
Weekly jobless claims were 498,000 versus
projections of 540,000.
Q1 preliminary
nonfarm productivity increased 5.4% versus forecasts of +4.3%; unit labor costs
declined 0.3% versus -0.8%.
The April ISM
nonmanufacturing index came in at 62.7 versus estimates of 64.3.
The April services
PMI was reported at 64.7 versus expectations of 63.1; the April composite PMI
was 63.5 versus 62.2.
International
March German
factory orders were up 3.0% versus predictions of +1.7%; the April construction
PMI as 46.2 versus 47.5 in March.
March EU retail
sales rose 2.7% versus consensus of +1.5%.
The April UK
services PMI came in at 61.0 versus forecasts of 60.1; the composite PMI was
60.7 versus 60.0.
Other
The
Fed
Handle with care.
https://www.zerohedge.com/markets/fragile-handle-care
Powell flunks his Q&A session.
https://www.zerohedge.com/economics/fed-finally-gets-some-tough-questions-and-fails-answer-them
Biden’s
Plan
More on the rich paying their ‘fair share’.
http://blog.yardeni.com/2021/05/the-one-percent-off-with-their-heads.html
Higher corporate tax rates will likely slow stock
buybacks.
Talk about f**king
up the economy: government decides when it can waive intellectual property rights
(for coronavirus vaccine). One question,
Joe: who is going the make the next vaccine when/if another pandemic hits? Clowns to the left of me, jokers to the
right.
Inflation
Inflation still has not found its way into the
labor market.
https://www.ft.com/content/557365b9-4484-4df5-8528-20f61027fc53
The
coronavirus
Some lessons.
https://www.vox.com/22409749/us-covid-19-coronavirus-pandemic-response-lessons-learned
Bottom line.
Is there an inflation
shock coming?
https://www.zerohedge.com/markets/kolanovic-most-are-unprepared-coming-inflation-shock
Cash flooding into
the Market may not be all that great for stocks.
The math does not
support ‘buy and hold’.
https://www.morningstar.com/articles/1037077/you-neednt-hold-your-stock-winners
April
dividends by the numbers.
Update on Buffett
indicator.
More on valuations.
https://www.ft.com/content/773261d2-c68e-41de-93c8-2d76c1528559
This
is a decent article on having a selling discipline. However, thinking about the multitude of
reasons for selling can make your hair hurt.
Plus, it only confuses the issue.
You should have two sell prices on every stock in your portfolio. One is a Stop Loss, which can be moved up as
the stock advances. The other is a Take
Profits Price. I have my discipline. Mine is to Sell Half of my position when a
stock reaches a valuation level my work determines as excessive. You can have yours. But have one; and the fewer criteria you have
to consider, the easier it is to execute.
News on Stocks in Our Portfolios
Becton, Dickinson (NYSE:BDX): Q1 Non-GAAP EPS of $3.19 beats by $0.15; GAAP EPS
of $0.94 misses by $1.25.
Revenue
of $4.91B (+16.1% Y/Y) beats by $30M.
What
I am reading today
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
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