Stock Market

[Hobo Hilton]

Interesting market updates:
- Chinese authorities requested mutual funds to avoid selling equities; market waits news on new stimulus
- Over 5% of new car sales in 23 countries are now fully EV with Canada, Spain, Australia, and Hungary joining the list this year
- Dallas FED manufacturing activity report to be released at 10:30am

1. NewsPlus

China Central Bank to Cut FX Reserves Ratio​

The People’s Bank of China said it would cut the foreign-exchange reserve ratio to 4% from 6%​

China to cut banks' FX reserve ratio to rein in yuan weakness

China's central bank said on Friday it will cut the amount of foreign exchange that financial institutions must hold as reserves for the first time this year, a move seen aimed at slowing the pace of recent yuan declines.

www.reuters.com

 

[E. Bryant]

Okay, very specific situation. My relatives in the country do not face that same problem.

Car buying habits are driven by a number of "corner cases". The popularity of trucks and three-row crossovers isn't because of their performance in daily-driving tasks.

Bloomberg - Are you a robot?

www.bloomberg.com

Yet another headline in the category of "EVs - an idea so good that the government has engage in bribery". I recall the Obama administration spending similar money to encourage the Big 3 to build and sell 40+ MPG passenger cars in the US, and we know how that's turned out.

As a shareholder and as a taxpayer, the mis-allocation of capital disgusts me, and that's exactly what happens when the government enters a market with game-changing amounts of money. If EVs are so great, let them live or die on their own merits.

And if government interference in the energy markets is actually a good thing:

I've got some thirsty cars that need a handout.

 

[S3th]

Damn ICE fires

 

[E. Bryant]

Damn ICE fires

Well it's a Chrysler Fiat Stellantis product, so the biggest surprise is that this happened before it got stolen and stripped.

 

[Hobo Hilton]

Damn ICE fires

View attachment 8217426

 

[E. Bryant]

If one is going to store hundreds or thousands of megajoules of chemical energy* in the most compact form possible, and then run that storage container into things at high speeds, don't be surprised if a fire breaks out on occasion.

Regardless of propulsion technology, the only surprise with car fires is that they occur so infrequently.

*Note that gasoline has an energy density approximately 10x that of smokeless powder, and even a midsize car holds about 100 lbs of the stuff.

 

[S3th]

Tesla Model 3 Highland officially unveiled with new design and unexpected features

We knew about the facelift on the front end, but the new Tesla Model 3 refresh is packed with a lot more interior features than we expected.

electrek.co

 

[Redmanss]

Damn ICE fires

View attachment 8217426

What do you expect from a “Chad” wearing cargo shorts with belt and tucked t-shirt, no socks and boonie hat while driving a chick car?

 

[Lightning8]

Tesla Model 3 Highland officially unveiled with new design and unexpected features

We knew about the facelift on the front end, but the new Tesla Model 3 refresh is packed with a lot more interior features than we expected.

electrek.co

Waiting for the $25k Tesla for average man

 

[S3th]

 

[Hobo Hilton]

Tesla Model 3 Highland officially unveiled with new design and unexpected features

We knew about the facelift on the front end, but the new Tesla Model 3 refresh is packed with a lot more interior features than we expected.

electrek.co

Karaoke machine ?

The feature you never knew you wanted: Chinese SUV includes karaoke system

Some features designed for international markets just doesn’t work here – and this karaoke system offered by a Chinese car company is one of them.

www.drive.com.au

 

[Redmanss]

Karaoke machine ?

The feature you never knew you wanted: Chinese SUV includes karaoke system

Some features designed for international markets just doesn’t work here – and this karaoke system offered by a Chinese car company is one of them.

www.drive.com.au

How else is one to sing along with “Man, I feel like a Woman” while driving?

 

[Hobo Hilton]

The $32 trillion gross federal debt equals debt held by the public plus debt held by federal trust funds and other government accounts.
_____________
Question for the group.

How high will "the debt" go before the rest of the world wakes up and calls "Bull Shit" on the USD and investing in America ?

 

[S3th]

The $32 trillion gross federal debt equals debt held by the public plus debt held by federal trust funds and other government accounts.
_____________
Question for the group.

How high will "the debt" go before the rest of the world wakes up and calls "Bull Shit" on the USD and investing in America ?

All currencies are bull shit. It’s all about economics.

 

[E. Bryant]

Waiting for the $25k Tesla for average man

They're available all day long in a few states. Just gotta stick $15-20k of taxpayer money on the hood to make the sale.

 

[E. Bryant]

Tesla Model 3 Highland officially unveiled with new design and unexpected features

We knew about the facelift on the front end, but the new Tesla Model 3 refresh is packed with a lot more interior features than we expected.

electrek.co

So the Highland is announced and the stock dips 5% - has anyone checked on Gary Black? I'm two weeks into my Twitter sabbatical so I can't needle him myself.

 

[S3th]

So the Highland is announced and the stock dips 5% - has anyone checked on Gary Black? I'm two weeks into my Twitter sabbatical so I can't needle him myself.

I think there is concern around margins given the introduction into lower spec model X and S. I’ve been successfully rolling calls.

 

[Hobo Hilton]

All currencies are bull shit. It’s all about economics.

It's about what "backs up" the currency. In America's case, there is doubt if there is any gold left should a back up be needed.
The required audit never took place.

 

[S3th]

It's about what "backs up" the currency. In America's case, there is doubt if there is any gold left should a back up be needed.
The required audit never took place.

It’s purely economics.

 

[E. Bryant]

I think there is concern around margins given the introduction into lower spec model X and S. I’ve been successfully rolling calls.

The price action of this stock continues to mystify me, as it's wildly overreacting to things that have been widely known for months. Glad to hear that you've been successful with your strategy

 

[E. Bryant]

It's about what "backs up" the currency. In America's case, there is doubt if there is any gold left should a back up be needed.
The required audit never took place.

The dollar is backed by the US military, and specifically its ability to put conventional forces on your border overnight and deliver about 5000 nuclear warheads in less time than it takes to get a pizza delivered.

 

[Redmanss]

The price action of this stock continues to mystify me, as it's wildly overreacting to things that have been widely known for months. Glad to hear that you've been successful with your strategy

+1

It may not be totally fair for me to think this, but Tesla is a bit too "meme stock grade yo-yo action" to me. I'm a little more Berkshire Hathaway, steady climb speed.

 

[Hobo Hilton]

The dollar is backed by the US military, and specifically its ability to put conventional forces on your border overnight and deliver about 5000 nuclear warheads in less time than it takes to get a pizza delivered.

50 years ago... That was gospel.
Let's hope conventional forces don't have to make an overnight move.
The rest of the civilized world knows this. All they have to do is to look at the President of the United States.

 

[S3th]

 

[Hobo Hilton]

View attachment 8218489

At that time all of the "foreign money" will start to leave America.
Then things will get dicey for sure.

 

[atepointer]

View attachment 8218489

Add to that the rolling adjustments downward on nonfarm....June from 185k to 105k and July 187-157 plus JOLTs showing declining openings. Fed will stay too long and panic cut at some point. Traders will have a hoot on the way down!

 

[Hobo Hilton]

View attachment 8218655
Add to that the rolling adjustments downward on nonfarm....June from 185k to 105k and July 187-157 plus JOLTs showing declining openings. Fed will stay too long and panic cut at some point. Traders will have a hoot on the way down!

It is much worse than that. After all, you are looking at Government propaganda.
And a traders worst nightmare is to get the notice "No Shares Left to Short".
Options and derivatives are great if you are trading using other people's money.

 

[atepointer]

It is much worse than that. After all, you are looking at Government propaganda.
And a traders worst nightmare is to get the notice "No Shares Left to Short".
Options and derivatives are great if you are trading using other people's money.
View attachment 8218665

Best wishes to you for your investing goals and portfolio moving forward.

 

[S3th]

 

[Hobo Hilton]

View attachment 8218740

Does it handle better in snow than a Model 3 ?

 

[S3th]

 

[Hobo Hilton]

View attachment 8219007

Doubtful they will sell for $3........... Maybe $5 - $6
______________

When Ottaviano, 59, told The Australian Financial Review Mining Summit in Perth in May that the Albemarle bid was “ballparks away” from winning over Liontown, he was channelling former Rio Tinto boss Tom Albanese.

The CEO who took Liontown from a bargain to an ASX lithium force

Tony Ottaviano needs to deliver his flagship lithium mine. A spurned $5.5 billion takeover offer and dip in prices for the battery metal have upped the pressure.

www.afr.com

 

[Hobo Hilton]

Mass furlough at Virginia Beach-based chainsaw manufacturer Stihl

Without advance notice, Stihl laid off one-third of its Virginia Beach workforce August 23.

www.wsws.org

Becoming a "trend"...

The Worker Adjustment and Retraining Notification (WARN) Act requires companies to provide employees with a 60-day heads up in advance of plant closures or mass layoffs, but Mitchell Gold + Bob Williams interim CEO Chris Moye issued a WARN notice to the state's Commerce Department dated Aug. 26, informing the agency that the roughly 533 workers employed at the luxury manufacturer in the state would be laid off permanently within two weeks starting Aug. 28.

Iconic North Carolina furniture maker shutters, leaving more questions than answers

Furniture company Mitchell Gold + Bob Williams abruptly closed its doors this week, ending its 34-year run and leaving hundreds of workers out of a job with little explanation.

www.foxbusiness.com

 

[Lightning8]

Becoming a "trend"...

The Worker Adjustment and Retraining Notification (WARN) Act requires companies to provide employees with a 60-day heads up in advance of plant closures or mass layoffs, but Mitchell Gold + Bob Williams interim CEO Chris Moye issued a WARN notice to the state's Commerce Department dated Aug. 26, informing the agency that the roughly 533 workers employed at the luxury manufacturer in the state would be laid off permanently within two weeks starting Aug. 28.

Iconic North Carolina furniture maker shutters, leaving more questions than answers

Furniture company Mitchell Gold + Bob Williams abruptly closed its doors this week, ending its 34-year run and leaving hundreds of workers out of a job with little explanation.

www.foxbusiness.com

When credit cards are maxed out, rent is rising, and gas/food is expensive - luxuries like fancy furniture are sure to be last on spending priority list.

 

[S3th]

“Company is unable to secure critical financing to continue business operations."

Many others will follow.

 

[Emerson0311]

“Company is unable to secure critical financing to continue business operations."

Many others will follow.

The era of cheap debt is no more and consumers are tapped out.

 

[NoDopes]

Country Garden in dire straights.

 

[Hobo Hilton]

The era of cheap debt is no more and consumers are tapped out.

"The Perfect Storm"
Rising property taxes, rising fuel cost (fuel surcharge on everything), rising auto insurance.
But the FED Reserve says:

 

[S3th]

 

[Hobo Hilton]

Fmr. Ford CEO Fields: ‘You have to make over $100 thousand per year to afford a new car right now’​

Mark Fields, Former Ford CEO, joins ‘Closing Bell Overtime’ to talk Tesla’s stock slump, the auto industry at large and a looming UAW strike.
Fri, Sep 1 20234:57 PM EDT

 

[Hobo Hilton]

A perfect time to "Shuffle the Deck".... Certainly will help those that play the index funds.... LOL

S&P Index Shuffle Boosts These Small Cap, Midcap Names

There are some changes to the S&P MidCap 400 and the S&P SmallCap 600.

www.investors.com

Airbnb, Blackstone Rally On S&P 500 News

ABNB and BX will join Sept. 18 as part of a quarterly rebalancing.

www.investors.com

 

[S3th]

Vermont’s biggest utility dramatically expands home battery subsidies

Since 2015, Vermont's Green Mountain Power has helped a limited number of customers install home batteries each year. Now the program cap is gone.

www.canarymedia.com

https://x.com/teslaenergy/status/1699831463326413089?s=46

 

[Hobo Hilton]

Vermont’s biggest utility dramatically expands home battery subsidies

Since 2015, Vermont's Green Mountain Power has helped a limited number of customers install home batteries each year. Now the program cap is gone.

www.canarymedia.com

https://x.com/teslaenergy/status/1699831463326413089?s=46

The Money ($$$) numbers are glossed over in the article.....
I'm getting the feeling that the customers and the tax payers are going to fund this and the utility company is getting the glory.
On another note, look what showed up at my local Post Office.

What made me take notice was the low ground clearance. Note the ground clearance of the other vehicles in the area.
I'm sure the owner has a big F-350, 4wd, diesel at home with a snow plow for these Montana winters.

 

[Redmanss]

The Money ($$$) numbers are glossed over in the article.....
I'm getting the feeling that the customers and the tax payers are going to fund this and the utility company is getting the glory.
On another note, look what showed up at my local Post Office.
View attachment 8222060
What made me take notice was the low ground clearance. Note the ground clearance of the other vehicles in the area.
I'm sure the owner has a big F-350, 4wd, diesel at home with a snow plow for these Montana winters.

The energy companies love this shit. Take a look at Berkshire’s energy division, $6 billion in three years of tax credits from wind/solar/etc to add to their profits. Six fucking billion…

Warren Buffett's energy division has had a negative income tax rate for 5 years straight - as it's received clean-energy credits worth billions

Berkshire Hathaway Energy has received almost $6 billion in income-tax benefits on a net basis in the last three years alone.

markets.businessinsider.com

 

[Hobo Hilton]

Today, Jerome Powell and the FED Reserve are "Looking over their stern" in an attempt tp plan their future.
Why shouldn't the workers of America use the same formula ? The cat is out of the bag.
Looking backwards at inflation, shortages, job furloughs and layoff's for the past 4 years allows the UAW to plan for the future.
Here is an auto manufacturer that wants it's workers to shoulder the burden of their follies.
What's good for the Goose is good for the Gander. With that said:
_______________
The automaker’s offer would provide a 14.5% wage increase over the four-year term of the proposed deal for most of Stellantis’s roughly 43,000 UAW-represented hourly workers. Newer, or in-progression, employees would get a 27% boost to their starting wages and a shorter time period – six years, versus eight years under the current deal – to advance to the maximum wage rate.

Stellantis offers 14.5% pay increase to UAW, days before possible strike

Stellantis' proposed wage hikes for UAW members would be higher than those offered by rivals Ford and GM, but those two companies offered other payments.

www.cnbc.com

 

[S3th]

I would adjust compensation to include equity like Tesla.

 

[Hobo Hilton]

I would adjust compensation to include equity like Tesla.

You should be a negotiator for the UAW.
Better yet, become the Chairman of the FED Reserve.

 

[S3th]

https://x.com/wallstreetsilv/status/1700530529454506325?s=46

 

[NoDopes]

Maybe they shouldn't still be charging 6% commission when prices have tripled.

 

[Hobo Hilton]

https://x.com/wallstreetsilv/status/1700530529454506325?s=46

I am shocked... shocked, I say.
The perfect storm is brewing.
When all of the savings is spent on a roof over their head and food on the table for the kids... Reality will over rule Denial.
The administration will continue borrowing and pandering while all of the other countries who are well managed will step away from America.