Joel Elconin – Recapping October’s Market Moves, The Rotation Out Of Tech Continues
Joel Elconin, Co-Host of the Benzinga PreMakret Prep Show and Editor of the PreMarket Prep website joins us to recap the market moves in October. October was a very good month for markets as the S&P was up 8%, Dow up 14% and NASDAQ lagged being up only 4%. Rotation within markets has been the theme gong back to last year and is clearly continuing. Investors are looking for stronger fundamentals which is pulling money out of tech and past market leaders.
Click here to visit the PreMarket Prep website to keep up to date on Joel’s daily market commentary.
You can look at demographics and figure out that a lot of the baby boomers are leaving the job market. This is something not seen for a long time. This will only hasten the grasp technology has on our lives. Man made the machine, and now the machine makes man. DT!
back into troubled NEM jan 23 calls with 45 strike price at close 1.57. Lots of time to add more if it slumps more..
Have had good fortune with the leverage on this one a couple of times recently.
No point to add to gold sector except for some long term leverage.
Let’s see what much awaited Powell babble brings tomorrow.
Good one, good idea with that particular option.
We had a nice discussion with Doc Postma today, and he still saw the potential for NEM to make lower lows first, before a more meaningful move higher; so more time to accumulate if slumps as you say.
> Stay tuned for the weekend show with some further thoughts on Newmont from Doc.
Bob M has a new video on Y Tube and he talks about how fragile the banks are, Pay Pal has just announced that if you give them misinformation, they can deduct $2500 from your account, and you won’t be able to close your account with them. He says a lot about what he sees happening in Europe. I don’t want to say much more, we are all responsible for our actions. It is well worth listening to this latest interview. DT
https://www.youtube.com/watch?v=attSC8F0Hcs&list=PLank8aMTYJBY1L49VT6P23msnwUJAHYHf&index=3
Is that true about paypal?
Is that an anti-trust as they are a payment platform?
Yes it’s true. There were already people doing screenshots of their negative -$2500 account balance on paypal for daring to discuss ideas that the main stream media has decided are deplorable and unacceptable.
It is nuts that a platform can decide to deduct $2500 of your own money, on a payment platform, for not agreeing with what you say. It is already nuts that their “verification” department can decide (in their infinite and totally unbiased wisdom) that this idea shared is a conspiracy theory. It is just like what has been happening on the completely biased social media outlets, or youtube, where people were stripped of their income producing online channels using similar censoring.
Things are moving one step closer to a social credit score system where sharing a supposedly unacceptable view is not just grounds for de-platforming, but now caries a heavy fine.
It was likewise crazy what happened with the charitable donations on “GoFundMe” during the Canadian truckers freedom envoy, and downright criminal that they rejected giving the funds to the intended recipient, and instead redirected funds to charities that they approved of (completely ignoring the intention of the person making the donation), and then went as far as releasing the data of who donated to track those people down at their houses that dared to give $10 or $25 to support freedom of choice for their own bodies.
Things are really getting crazy out there, and this is just the latest in a long string of person liberties infringements and online platforms wrecking people’s lives simply for disagreeing with them. It’s only getting worse…
U.S. Job Openings Bounce Sharply in Sept but ISM Manufacturing PMI Falls to 50.2
Geoffrey Smith – Investing.com – Nov 01, 2022
https://www.investing.com/news/economic-indicators/us-job-openings-bounce-sharply-in-sept-but-ism-manufacturing-pmi-falls-to-502-2928143