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Off-Topic Stock Market & Crypto Discussion

Nice little bear mkt rally. Dow only down 10% for the year. Good earnings and high employment helped.
Unfortunately the Fed will raise rates into 2023 purposely slowing the economy which is their only tool.
 
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China (their July numbers were awful), most of EM and Europe are in contraction mode, and the US consumer is pulling back. We have had two negative quarters and an inverted yield curve. The Fed is raising aggressively AND doing QT. There is a lot of liquidity still in the system propping the market up, but I still dont see a lot of positives out there for a sustained rally.
 
Not the typical volatility seen after a bear market bounce. A flat day here and there may mean we have seen the bottom.
 
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Another flat day.

I can’t imagine a bunch of flat days before Powell has another speech, can you?
 
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13:45USDS&P Global Composite PMI(Jul) 47.70.1247.547.5

13:45USDS&P Global Services PMI(Jul) 47.30.144747
14:00USDFactory Orders (MoM)(Jun) 2% 1.491.1% 1.8%
14:00USDISM Services Employment Index(Jul) 49.10.1448.747.4
14:00USDISM Services New Orders Index(Jul) 59.9-0.3160.555.6
14:00USDISM Services PMI(Jul) 56.71.7153.555.3
14:00USDISM Services Prices Paid(Jul) 72.3-5.0881.680.1

PMI up..economic conditions
Factory orders up..***
ISM services up..the service sector
Great numbers..
 
This is quite a rally. Not the flat day we had yesterday. Possible sell off tomorrow. If tomorrow is flat, I have a good feeling about things.
 
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Trade balance dropped in our favor…could be the strong dollar.
Initial jobless claims for July rose to 260,000.
Non-farm payroll tomorrow..anything over 200,000 is huge IMO.
By not selling at the bottom we made back over 10% from the bottom. Still the talking heads are still calling for a recessionary drop, but there is some talk about the S&P rising to new highs EOY.
 
mr.h said:
Trade balance dropped in our favor…could be the strong dollar.
Initial jobless claims for July rose to 260,000.
Non-farm payroll tomorrow..anything over 200,000 is huge IMO.
By not selling at the bottom we made back over 10% from the bottom. Still the talking heads are still calling for a recessionary drop, but there is some talk about the S&P rising to new highs EOY.
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The only thing people are blaming a recession on is the Fed which is responding to a humming economy. Pretty safe to say if the economy stumbles, the Fed backs off. Job numbers and profits are strong enough to handle more rate hikes but at lower basis points. Even England agrees that rate hikes are the way to go.
 
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TheEye said:
The only thing people are blaming a recession on is the Fed which is responding to a humming economy. Pretty safe to say if the economy stumbles, the Fed backs off. Job numbers and profits are strong enough to handle more rate hikes but at lower basis points. Even England agrees that rate hikes are the way to go.
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You are absolutely right. Lower rate hikes are the key.
 
Another Wildcat drill success. This is a new field discovery (expect several offsets)....Still waiting on the plant to be finished and deliver.
ceo.ca

DESERT MOUNTAIN ENERGY HAS SIGNIFICANT SHOWS OF HELIUM ON GUNNAR DOME WILDCAT WELL, by @newswire

VANCOUVER, BC, Aug. 4, 2022 /CNW/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01) From the President of the Company.
ceo.ca ceo.ca

Digital layout of plant

Pics of a few of the plant modules at their respective assembly locations if you scroll right on the photos

Helium – Desert Mountain Energy-TSX-V: DME

www.desertmountainenergy.com www.desertmountainenergy.com

Hydrogen "Partnership" TIFWIW.

DESERT MOUNTAIN ENERGY ENTERS INTO AGREEMENT WITH BEAM EARTH LTD. FOR HYDROGEN PRODUCTION

/PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01) From the President of the Company. The Company is...
www.prnewswire.com www.prnewswire.com

Government initiatives in the recently passed CHIPS act to recycle and conserve helium in response to supply concerns. (Hit control F on document and search for the word helium)
 
TheEye said:
This is quite a rally. Not the flat day we had yesterday. Possible sell off tomorrow. If tomorrow is flat, I have a good feeling about things.
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A flat day. This was what I was hoping for!
 
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