Podcast EP 61 Gov't Open But who Cares? (Oct 2)

Podcast Available onSpotify | Apple Podcast | Amazon MusicFollow on Substack NotesReferral Program for existing Subscribers* When you use the “Refer a friend” link below or the “Share” button on any post, you’ll get credit for any new subscribers. Here is the link you can copy and paste into any email, text or social media platform:“https://nyugrad.substack.com?r=1ec55c”* Once I launch a paywall, your referral credits earned will be retroactive immediatelyShow NotesSummary of the dayMarkets lost a 200 pt move higher over the weekend after the govt agreed on a temp bill to bless us with no shutdown for 45 days. The intraday action provided 4 sikes or fakeouts to the upside. If you watched breadth all day, it would have told you not to go long. They also tried to save the market by bidding the Magnificent 7, but they too closed off their highs.What would we do without the govt bloat. Thank goodness for their benevolence in finding a stop gap for 45 days…when we can do this all over againAirbnb ($ABNB) Is Fundamentally Broken, Its CEO Says. He Plans to Fix It. “We never fully built the foundation,” Brian Chesky says in a revelatory interview. “It had four pillars when we needed to have 10.”Germany's Birkenstock ($BIRK) targets $9.2 billion valuation in New York IPO. This means as a public co they will be forced to discount heavily in slow times. I love wearing Birks in the summer.11am Breadth check11:15amAnother attempt to buy the mag 7 to boost equitie$VFS Where are the regulators11:30amThere is that 4335 level again. This bounce can’t stick with yields busting up12:30 lunch break. How we doing? Imagine if mag 7 were not green?1:15 pm#Magnificent7 losing steam. Oh boy. If this continues we can have a 300+ down day easy2pmYou tell me. Does this look like bullish breadth? Breadth (as of 3:30pm)* 48 new highs* 793 new lows* 18% advancing 79% declining* 83% below 50 day maStuck outLost the weekend pop on the Govt No-shutdown newsStrongRelatively speaking, the Magnificent 7 was holding up the market all dayYieldsVolatilityWeakRussell 2k$VFS $CVNA $PI $KGC $SLV $AFRM $AI $ALLY $GDXJ $KVYO $KRE $ARM What to watchWatch mag 7 Watch yields Economic datahttps://www.marketwatch.com/economy-politics/calendar Financial Freedom is not free, but the pursuit is worth the treasure. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.notyouradvisor.com/subscribe