As we battle through this bear market, I get so many questions about what I am reading, doing, thinking. I get so much research in my feeds and inbox I figured I will start sharing a chart or two a day that I find interesting.
If you want a great daily (free) look at the world from technicians I recommend The Chart Report which I skim everyday.
As the bear market torches the Nasdaq the hardest, the S&P has quickly melted down the last 3 days as energy joins the selloff. I thought this chart/tweet was interesting:
My US dollars (cash) are not burning a hole in my pocket, but I have the feeling it is time to use some of the overvalued dollars to work and buy some equities.
If this was just a typical selloff in a bull market, I would be allocating good money to the markets right here. Obviously, not the case today, but interesting nonetheless.
Onwards…
I am back in Phoenix (it is freaking hot) and off to Coronado today finally for the summer.
I do my best work from the porch!
My Toronto weekend with Rachel, family and friends was really great.
I met my new ‘great’ nephew Wes…
I had dinner with my best pals (from left – John, Steve, Rob) at House of Chan which we have been going to together for 40 plus years…
And I got my bagels at Bagel World.
One thing that I was surprised to see so much of in Toronto were the Cannabis stores. They are EVERYWHERE and the radio ads were endless. Puff City was most memorable to Rachel and I. Here is my beloved Bagel World store with two cannabis stores in the same little strip mall.
Toronto is not a city I miss like San Diego or New York or Amsterdam or Tel Aviv, but at my age, the friends and family make up for it. Post Covid, I am excited to make it back there more often on my way to and from Europe trips.
Have a great day.
