Welcum frens
News: Fears of a recession are growing because of economic trends that occur before recessions (30 year yield inverts, Underwear sales, groundhogs seeing shadows). Lots of data coming in this week on the job market, it seems employment is fine but wages is a different thing. Not gonna get into macro economics but lots of warning lights are being turned on. And remember 9819 of the last 4 recessions have been predicted correctly so the bears always somehow know when it’s gonna come.
Asia is having some new covid cases but this doesn’t seem to be affecting market, YINN is up in pre market so no threat from that for now.
Ukraine and Russian peace talks continue to result in nothing, seems like Ukraine is willing to make some concessions but not enough for Russia to accept.
Doom and gloom looks like the mood today.
Daily Watchlist:
Meme stocks: AMC, GME, and SNDL are being played by many of you loveable retards so I’ll include it here. Gme and amc are up in pre market despite SPY being down, I’d say this is a good sign but they always seem to get caught by spy eventually. SNDL is down now, if AMC and GME run then they can carry it back up but be ready to cut if you are in a bad position.
YANG: Shanghai shutdown is occurring but Yang (a Chinese bear etf is strong) watch for a reversal and pick a position with good timing if you see one coming.
SPY: Spy is down in pre. I don’t see much reason for a bounce today outside of technical continuation of the trend. The market seems to be being led by angst today so keep on your toes, don’t expect it to act rational. Gonna lean for a green close today just because it seems like a day for wild moves.
auf wiedersehen 