The stock market is on the plus side 30 min before the open, however, it’s not much of a bounce considering the freefall yesterday.
Of note, TLT is + .66%, financials, Oils, Metals are all in the red.
To me, this looks like a negative premarket bias. I suspect we will see a gap fill at least after the open.
Amazingly not much new yesterday in the news. Just more of the same but no new developments either at home or abroad. A rare quiet day:) If that keeps up what will mainstream media do?
This recent drop shows the risks of a public company getting into the Social Justice Arena.
Twitter, Facebook, Netflix are all getting hammered. Perhaps it’s a coincidence that the drop is after they have been shown to actively have a liberal bias and in some instances a hostile environment for conservates.
I have 0 problems with the Social Justice Warrior movement, at least the peaceful aspect of it. It’s essential that everyone is free to express their opinions without fear of reprisal.
But, it ends when you get into the public corporation environment. The reason is obvious. Corporations have their first responsibility to shareholders. As we have seen when they take actions that are hostile to 1/2 of their potential customer base they take a hit.
In a logical world, they would be politic neutral, building their business with the largest customer base as possible.
That is how out of whack things have gotten in the U.S. at this point. Dysfunctional politics has invaded corporate America.
We have seen this with other corporations that have taken a large hit as a result of it. Besides, it’s not like the CEO does not know what the results of these actions will be. To me it looks like a great class action for shareholders that get hurt.
So, the lesson of this is to steer clear of corporations that decide to get into the SJW arena. No reason to lose your money investing for your retirement in these companies.
A big earnings report out tonight with Apple. It’s bigger than usual as a result of the hit the Nasdaq has taken the last week. If its a miss, look out below! My feeling is Apple is not as reliable for a good report as they used to be. Things have changed a bit in the smartphone market. We will see:)
I did not take any trades Monday as the market never looked like it was going to turn around. No sense bucking the market.
Today I will take a look and then decide based upon the market activity. Odds are a range day today. But the premarket does not look good to me.