The Morning Call---early

 

The Morning Call

 

12/7/22

 

I am travelling very early tomorrow morning.  So, this is a bit early.

 

The Market

         

    Technical

 

            Tuesday in the charts.

            https://www.zerohedge.com/markets/stocks-puke-back-all-post-powell-gains-yield-curve-inversion-deepens

 

Note: the S&P ended below (1) the uptrend off its 10/13 low; if it finishes there today, it will void that uptrend and (2) its 100 DMA; if it closes there through the trading on Thursday, it will revert from support to resistance.  Were this to occur, the next support level is the 38.2% Fibonacci retracement level [~3817].

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

                        International

 

                        Other

 

                          Update on the big four economic indicators.

                          https://www.advisorperspectives.com/dshort/updates/2022/12/05/the-big-four-economic-indicators-november-employment

 

                                                  CEOs aren’t optimistic about 2023.

                          https://finance.yahoo.com/news/ce-os-not-optimistic-2023-172231166.html

 

                        Fiscal Policy

 

              Our ruling class’s cheap debt fantasy.

              https://www.advisorperspectives.com/articles/2022/12/06/well-all-pay-for-uncle-sams-cheap-debt-fantasies

 

                        Inflation

 

Framing lumber prices near pre-pandemic level.                                           https://www.calculatedriskblog.com/2022/12/update-framing-lumber-prices-close-to.html

 

              House prices down MoM in October but still up YoY.

              https://www.calculatedriskblog.com/2022/12/corelogic-house-prices-up-101-yoy-in.html

 

            The coronavirus

 

              The lockdowns were all for naught.

              https://www.washingtonexaminer.com/restoring-america/fairness-justice/coming-to-terms-the-covid-lockdowns-were-all-for-naught

 

    Bottom line

 

            More on valuation.

            https://www.advisorperspectives.com/dshort/updates/2022/12/05/p-e10-november-2022-update

 

            Ruminations of a third degree thinker.

            https://alhambrapartners.com/2022/12/04/weekly-market-pulse-follow-the-delphic-maxims/

 

            Small cap stocks are really cheap.

            https://www.morningstar.com/articles/1128280/small-cap-stocks-are-really-cheap

 

            Wall Street’s 2023 outlook for stocks.

            https://www.tker.co/p/wall-street-2023-stock-market-outlook

 

    News on Stocks in Our Portfolios

 

Mastercard (NYSE:MA) declares $0.57/share quarterly dividend, 16.3% increase from prior dividend of $0.49.

Mastercard (MA) also announced a new stock buyback program of up to $9B of its class A stock.

 

What I am reading today

 

            Quote of the day.

            https://cafehayek.com/2022/12/quotation-of-the-day-4106.html

 

 

 

Visit Investing for Survival’s website (http://investingforsurvival.com/home) to learn more about our Investment Strategy, Prices Disciplines and Subscriber Service.