10/25/2023
Cullen Frost Bank
The DJIA is still over 30,000 but look at the damage the bear has already caused. July 27 this year was the end of Wave Two Up.
Cable tv says investors are eyeing stocks below their 200 cay MA, this is wrong, they are not bargains and this is a bear market.
Book value is about $50, I believe it is headed there in a hurry. Oh E/S is $10.67 so don't think good earnings will keep your stocks afloat.
CFR held up longer than the overall market peaking in Nov 2022, it has lost a staggering 50% of market cap since, while still earning millions of dollars.
The tech sector has held the markets up as spx added tech stocks to boost its performance, that is ending'
That is an 11% drop since Fuly 27, gee just 90 days, 14,400 to 12,800Mood is exploding in negative fashion.
two shooting wars, China provocation in the Pacific, protests over Mid East in cities and college campuses, two weeks without a House Speaker, Trump former buddies sing like canaries,
FTX cheats their customers, gee what else? And understand the bear market is just gettig underway!
I am out to the TXCPA Educator Conference tomorrow returning Saturday afternoon, will update then but for now we are in three or three Elliott Wave to the downside the strongest of the wave patterns.
SW Air LUV has lost a third of its value since July 27, again this is just getting started
Casinos are a pretty good forecaster of the markets, how willing are people to gamble, in positive mood environments they are
in negative not so much, Boyd dropped 11% today
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