As the sanity and calm of the evening hours are upon us, we can reflect on our economic data instead of the cocaine-induced lunacy of Thursday’s session. I present to you FedEx (FDX) which is plunging to the same price it was in……………December 2020. Yep, almost four years of revenue and profits rendered moot.
Under the surface, the economy is failing, even as we hit lifetime highs every single day. United Parcel Service (UPS) is falling in sympathy.
Of course, today I seriously considered buying puts on UPS, but I was so damned shellshocked all day long I didn’t dare. Thus, another nice one gets away.
