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I miss my bear market more than words can express. Almost the entire first half of 2022 was a glorious romp through the ursine fields of paradise. Ever since June 16th, however, and particularly since October 13th, it’s been a glorious romp through acres of fresh manure. Even just recently, for no discernable reason, the market has been roaring higher.
I’ve got to say, I’ve never seen a car maker announce such frequent price changes. It seems that the list price for Tesla cars moves with as much frequency as its equity value. I don’t think this is good for business. Why would someone want to buy a car and have no idea if it’s suddenly going to cost thousands less the next week? Tesla is creating their own deflationary price environment, complete with the uncertainty that always causes the human consumer.
There are a couple of my favorite topping patterns with earnings this week. I don’t have positions in either of them, mainly because I’m too shell-shocked to do just about anything, but perhaps that’ll change. In any event, the first is Crowdstrike (CRWD) which reports after Tuesday’s close.
I’m sort of in the “if you take out a loan, you should pay it back” camp, but for what it’s worth:
