“Wall Street has a uniquely hysterical way of thinking the world will end tomorrow but be fully recovered in the long run, then a few years later believing the immediate future is rosy but that the long term stinks.”
Harumph!
‘Tis a blustery week here in Oklahoma.
Lots of rain & wind.
We’ve needed the rain, but the lack of sunshine always makes me more ... let’s say melancholy. To be fair, I’m not the most optimistic person, so this sort of multiplies the more negative part of my personality.
It’s strange how a little sunshine can change so much.
... I should probably have some sort of deeper thought to share with you, but I don’t. Ha ha. Just that I miss the sunny days.
Today’s Macro Headlines (Source: Yahoo Finance)
'We'll be speaking about Blackwells,' Trump said ahead of his highly anticipated meeting with Xi.
Bloomberg
Why it matters …
From the article …
“US President Donald Trump said he’ll discuss the chipmaker’s Blackwell artificial intelligence processors with Chinese leader Xi Jinping, putting the company on track to become the first $5 trillion business by market value.”
NVIDIA is such a large company that when its stock moves, the entire market moves. It's actually not good to have one company that large in my opinion, but we seem to gravitate that way over and over. Years ago, it was AT&T until the government broke them up. The large company was not good and the break up was not good. I think it's just best to sell Puts!
Index Snapshot
See the Legend in the footer below
Comments: It’s FOMC day! (Did you decorate?!) Generally, markets are sideways until the announcement/news conference. With all the reductions in force announced (UPS, Amazon, etc.), everyone expects a rate cut with hints of another one in December. (The FED does not meet in November.) If this is what is done/said, we should have a pretty green close today.
The President’s trip seems to be going well. If that continues, the week might finish fairly green as well.
As an interesting observation, since the President is in Asia, the headlines are made overnight, so there is not much movement during the trading day. Again, just an observation …
Stock Spotlight (Premium subscribers only)
Here’s an idea from my Bravo ETF scan going for 1.39% return on risk into this Friday’s expiration.
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