since 2008, sending it daily shortly after the market close.
The opinions expressed below are my own
Confused. Investors didn’t know what to do today and we swung fairly significantly over the session. The S&P was up 20 handles and one point and down 20 handles at another point. We finished the day down small. The major news of the day was based on a headline that Trump wants to target Amazon for something. The stock was off 7.5% at its intraday lows. The rest of the market went down in sympathy. AMZN has been a rocket and when it goes south, it does damage.
Anyway, investors are obviously on edge. The US/China trade issue injected fear into the psyche of the markets and now, as other news items break, the perception is that negatives are popping up from every direction.
That’s obviously not true but that’s the thinking. For a lot of the FAANG stocks, news was so great for so long, I think investors forgot that negatives can happen from time to time.
It looks like swinging around is the name of the game still. But since the news is pretty thin… it won’t be long before the dip-buyers look at their favorite picture and do what they do best.
Look at this thing. You think Trump wanting to put the hurt on Amazon is going to derail the dip-buyers?
LOL.
See youtomorrow
,-Mike