the tide is going out, softbank and jpm naked pic.twitter.com/hC1gCG3SoL
— Alastair Williamson (@StockBoardAsset) October 22, 2019
A company that is out of cash next week almost IPO’d at a $47 billion valuation; but unlike 1999 there are no signs of euphoria or excesses anywhere
— GreekFire23 (@GreekFire23) October 23, 2019
So he turned $12 billion in cash into an $8 billion company. I think it’s supposed to go the other way. t.co/KfIJUIGauh
— Scott Nations (@ScottNations) October 23, 2019
S&P historical P/E ratio pic.twitter.com/f41DnBAOIN
— Win Smart, CFA (@WinfieldSmart) October 23, 2019
This chart says it all: ridiculous valuations relative to what's really going on – global economic downturn leading to the worst semiconductor industry revenue declines in a decade. t.co/y9jtx6M9ir
— fred hickey (@htsfhickey) October 23, 2019
$TXN implosion – one of the worst reactions to earnings since financial crisis pic.twitter.com/DcFnZ8sQ7r
— Alastair Williamson (@StockBoardAsset) October 22, 2019
Technical market breadth looks like crap.
The Nasdaq $CCMP ADL has been falling since 8/31/18.
The indices are being propped up by a narrowing group of stocks.
Such divergences are bearish as hell for the market at large with record valuations in a faltering global economy. pic.twitter.com/YGxYFryrpb
— Kevin C. Smith, CFA (@crescatkevin) October 22, 2019
*Job openings have dropped in recent months, potentially signaling a softening in the foundation of the U.S. labor market – most declines concentrated in retail trade & professional + food services
(Employment is a lagging-indicator – indicating the late-end stage cycle is here) pic.twitter.com/3MeyJ1e9Wj
— Adem Tumerkan (@RadicalAdem) October 22, 2019
Stocks Near Record Highs Send False Signal
From U.S. Treasury securities to gold and the shares of utility and healthcare companies, it’s been a great time for financial assets that provide a hedge against an economic slowdown.
Trouble Brews for Companies That Gorged on Cheap Credit
Cutting off a lifeline for troubled borrowers would lead to more bankruptcies.
Fed’s Fourth Bill POMO Most Oversubscribed Yet Amid Liquidity Scramble
The results confirm that demand for the Fed’s permanent liquidity injection is increasing with every operation.
NY Fed Accepts $49.854 Overnight Repo Bids
The New York Federal Reserve on Wednesday accepted $49.85 billion in bids from primary dealers at a repurchase agreement (repo) operation, a move intended to help maintain the federal funds rate within the target range.
More low-rated companies across industries are facing financial distress, heightening concerns about an economic downturn t.co/MQ1icdV2IH via @WSJ
— M/I_Investments (@MI_Investments) October 23, 2019