Weekend Update 9/17/2021

Homies were not in the building.

Market Update:

First, we are going to offer a 2 Month free subscription to anyone who purchases a DOGE shirt with Dogecoin and we’ll add a 5% extra off if you like and repost this article to you followers on your socials. We’ll offer you a free 7 day subscription for referring someone just to sign up to our blog and follow our socials (instagram, threads or X).

Friday was quite a day for the markets, and the great thing is when you come on SubStack you can take a look in real time at all the tickers we mentioned: SPY 0.00%↑, QQQ 0.00%↑ , IWM 0.00%↑ and XBI 0.00%↑ all found some resolution to the downside. Our publication last week helped us navigate the markets this week. Abigail Doolittle had a very nice wrap up if you enjoy video.

Companies in the news:

1. McDonald’s franchisee group says new California fast food bill will cause ‘devastating financial blow’ -- CNBC

2. The UAW went on strike at all three major automotive companies; $F, $GM, and Stellantis (Over 105,000 people and Ford already started laying off people). Mary Barra received compensation of $29 Million dollars in 2022 (and the other CEOs receive a salary similar to that) a 40% pay increase YOY in past years and workers argue they haven’t received proper recompense from the 2008-2009 crisis when they took cuts to ensure the industry moved forward. The UAW is arguing for pay equal to what the CEO’s increase was YOY among additional items. The estimated damage for a 10 day strike could be $5 Billion dollars to the U.S. Economy.

3. DIS 0.00%↑: Disney is said to be holding initial talks on Sale of ABC to Nexstar, while they also reported they are going to miss targets for Disney+

4. The first big IPO of the year, $ARM, a chip manufacturer launched above it’s ask of $51. The stock rocketed higher Thursday and then reversed lower Friday the doing what we call in Essex Trading: ‘The Reverse Hulk’.

5. TSM 0.00%↑ was also out this week asking suppliers to delay shipments due to slowing demand. We noted Semi weakness Thursday real time for followers.

6. In the Crypto space we had more news from Binance, several U.S. Executives including the U.S. CEO stepped down.

   

   We aren’t really surprised as we had been taking about shorting Binance awhile ago and the risk/reward looks better now. On the other side of the globe Token2049 is in full swing with some still believing this is bear market in Crypto (we’re not buying it).

Now on to the great part! Enjoy paid subs …