I am a little, but when it got back up to 200 I sold a lot of my long calls. Just got back from vacation… not a pretty 2 weeks though.
Tesla got an upgrade from Jefferies & Co.'s Philippe Houchois, who raises his rating on the shares to Hold from Underperform, arguing something good could come out of lackluster Model 3 data this week.
“We consider a small possibility of Tesla releasing supportive data this week but mainly high probability that management and the Board will take more drastic action on guidance and funding to restore credibility,” writes Houchois. Houchois expects Tesla needs to raise $2.5 billion to $3 billion of fresh equity.
Houchois keeps a $250 price target on the stock, and he’s not yet ready to buy Tesla shares.
Today the S&P 500 had its worst start to an April since 1929.
Yowzer.
well 6pm was not encouraging… was wondering what happened until I saw the articles 30 minutes later.
I re-balanced part of my retirement profolio just last night. This is correction territory now and I think (famous last word) that most of the upside is over.
We may soon be at a tipping point. I don’t see the Chinese backing down. If the V.S.G. decides to play hardball, the Chinese can move from tariffs to manipulating their currency, to even crashing our government treasuries market.
Kudlow, Mnuchin, and Ross are all touting “negotiations”, but the Chinese are saying they won’t even discuss negotiations under the gun.
So the V.S.G. will either single-handedly crash the economy or he’s gonna have to say “Uncle” TO THE CHINESE!, and then watch all his supporter’s heads explode.
Along the same line, Chinese will never gave in under such circumstances. The best case scenario is some behind the back negotiation to reach a deal but I can never see the orange fruitcake wont’ come out and declare “I beat them” and thereby scuttle any hope of a deal.
However, I don’t see them going nuclear, ie. mess with the treasury buying.
We sure living in interesting times.
China announcing “matching” amounts of potential goods under 25% tariff was a silly move though. Obviously, they’ve run out of imports to tax.
But they can slap large tariffs on U.S. soybeans and pork and then buy both from Brazil, so their costs don’t rise. They can do the same with propane and buy it from Saudi Arabia.
One-third of all the grains American farmers grow are exported to China. Guess what happens to the price if they can’t sell one-third of their harvest ?
Cheaper food for us?
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This is the uninformed nonsense that those advising the V.S.G are telling him. As I already posted, they can apply tariffs and then purchase elsewhere. Their costs are not raised and the U.S. loses sales. China has many other NTBs available to them that the U.S. does not.
Ah, no. It’s the sale that results in the crash. They would already have their money. BTW, this is a card they will likely keep in their back pocket, to head-off the administration from doing anything really stupid.
Yippee ! Farmers going bankrupt all over the country.
I’m afraid not.
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Eh, that would require trusting that the V.S.G. doesn’t flip-flop. Vegas wouldn’t even take that bet.
Never updated. Held through near end of 4/6 and lost about $300. Several missed earlier opportunities to sell for profit.
Ah, he’s said all of that a number of times previously. As recently as November. He’s merely setting the stage for China’s complaint they filed with the WTO.
Looks like it worked if you bought it.
To further set the stage for the complaint China has filed with the WTO, the foreign ministry spokesman stated:
“Under the current circumstances, it’s even more impossible for both sides to negotiate. This China/U.S. trade dispute was caused by the U.S., and the U.S. bears the full responsibility for it. The U.S. side is carrying the big stick of trade sanctions and at the same time, they claim to want to negotiate. Who are they performing this for?”
So are folks just holding, or picking up here and there.
Well, sorghum is the main ingredient in baijiu (clear liquor) but due to the high demand and retail price the price of the raw material isn’t much of a consideration.
I would say US still got the better card to play in this but is doing it in all the wrong way. The tariff on steel is just wtf.
Short VRX 500 @ 17.60.
Covered at 16.98.