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I find it kind of bizarre that the reason du jour for bidding this market to infinity is yet another “stimulus” package. To me, it’s kind of like theta burn; the closer we get to election day, the smaller the chances of the political process conjuring up such a package (because, let’s face it, the package is nothing more than a blatant bribe for votes). As with theta burn, the rate of decay will increase as we approach November 3rd. For crying out loud, there are only 20 days left; do you honestly think the two sides, which hate each other’s guts, are going to make peace and throw trillions of dollars in bribes toward the public? I don’t.
In any case, the market is sure acting like it will. Here are some key earnings tumbling out before the open tomorrow. A couple of them are the boring, always-go-up, no-matter-what variety………
That electric vehicles are the future has been known for some time, but it seems as though the auto industry in general is only now getting to grips with the reality of the situation. The greater competitiveness within this space is not good news for Tesla (TSLA), which has long been touted by its supporters as the trailblazer in the electric vehicle sector.
In a truly organic market, the cruise liners would all be trading for about three cents per share right now, but they’re not. All the same, a little bit of the incredibly grim reality (AKA their future) is seeping in, and my best short this morning is Royal (ha!) Caribbean.