Wed May 31 2023
Charles Payne, FOx BUsiness, had an analyst on explaining the cash flow collapse at Advance Auto Parts from a year ago,stock collapsed today, see below. Same analyst noted ten stocks were 50% of a couple of major indexes, something we have emhasized. Undeterred, the next analyst predicted S & P 4600 by year end. It is 4180 today.
There are plenty of clues of troube ahead.
166 year old Credit Suisse vanishes in due to one customer
Second and third largest bank collapse in US History this year.
SPAC founders exit before collapses including 'look at me' Richard Branson who sold Virgin Galactic at $30.
AAP massive cash flow deficit
IT is clear the market knew something since the gap down in November, this is typical bear market bad news.
The banking system is sound, - Janet Yellen, Secy Treasury
KRE Regional Bank Idex
Bank Stocks Today
Cullen Frost Best Run Bank in Texas
Now finishing wave two up after wave one down, wave three next
Notice MACD bottomed with wave one and is peaking with wave two
XLF ETF for Financial Sector looks much the same story the chart will not print, at any rate the third wave down across many sectors draws more near.
Our Preferred B in Nustar had great day today. It was up 83 cents or 3.64%.
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