In all likelihood, there will be an 11th hour deal, but it makes for a nervous two weeks. Last time this happened, Moodys & SP downgraded rating on U.S. debt.
Now the Senate leader seems to agree. A game of chicken. Deal needed to avoid default.
Bullish inverse H&S pattern will be confirmed by break above neckline just below $30. $4.78 market cap is tiny, as is forward PE. Maybe worth a nibble here.
Now a corporate ultra-rich bland amusement park. Homeless camp out on sidewalks.
Even a lot of the Silicon Valley employees live in SF. Companies send free buses to pick them up!
Agree, Potash + MOS would be great, and very cost saving, but POT is still pursuing that German company as far as I know.
You're saying the Wall Street Journal is wrong? Doubt it. Did you read the article?
Did you see the documentary "San Francisco 2.0" on HBO. Talks about the evictions of long term residents. Mayor Lee is a villain in the doc.
"Once the Biggest Buyer, China Starts Selling U.S. Debt--the Tide Turns"--Wall Street Journal, Oct. 7
"Central banks around the world are selling U.S. government bonds at the fastest pace on record, the most dramatic shift in the $12.8 trillion Treasury market since the financial crisis. Selling by China, Russia, Brazil and Taiwan are just the latest sign of an emerging market slowdown that is spilling over into U.S. debt. Previously all four were large purchasers of U.S. debt."
"Foreign net sales of U.S. Treasury debt maturing in at least a year hit $123 billion in the 12 months ending in July. It was the LARGEST DECLINE SINCE DATA STARTED TO BE COLLECTED IN 1978".
A chart is shown that shows net foreign treasury purchases falling off a cliff.
Bottoms are not made from "buy the dip" mentality. Need to have some panic imho. We'll see. Retest of the lows from last month at least seems more likely than new highs anytime soon, esp. with earnings misses & US/Rusky jets flying in same airspace. Plenty that could go wrong.
Late Oct puts in SPY in the low 190s & high 180s are down 75% in last week---now look quite cheap. QQQ puts may look cheap but the index is 1/2 as high . Measure the cheapness from the % out of the money and potential volatility. SPY puts actually look like the better values now, plus I like the fact that the SPY stocks are exposed to international slowdown, so earnings misses seem more lkely over the next month.