DHUnplugged is now streaming live – with listener chat. Click on link on the right sidebar.

Love the Show? Then how about a Donation?

Follow John C. Dvorak on Twitter

Follow Andrew Horowitz on Twitter

Warm Up
– Hey – What happened to the Red Wave?
—- Everything is gamed…
– Crypto meltdown – just one week and then…
– We are not talking about Musk or Twitter – Sick of the topics
– New Tax In Mass
– Greed – The Favorite Sport of Americans (and the world)

Market Update
– HUGE YUGE Rally – One Two Punch – Inflatio0n and gridlock hopes
—- More Rally on light PPI and Manufacturing prices
– – Short Squeeze too – offsided flip-flop
– Yields drop, USD drops – Market FLY
– China supposedly easing up on COVID restrictions again and ….. helping real estate market
– Biden’s College Loan Forgiveness Program shot down
– DXY down 3.5% last 5 days. 10-Year under 4%

You know what is going on?
– Asexual Finance
– – Everyone is just creating things out of nothing – screwing each other and themselves
– – One big “F” Job that yields nothing
– – Lesson learned with FTX – don’t kids matches unless you want them to start a fire.
—- OH and massive amount of losses
— It is the NON-Boomers that are screwing this all up

BOMBS – Wartime News
– Seems that market freaked out at 2PM Tuesday
– Reports that 2 missiles veered off course and hit town in Poland
– Then there was reports that Ukraine shot down and pieces hit areas in Poland
– Then reports that all unconfirmed – markets rally back

Massachusetts Tax
– The new law creates a 4% tax on annual income above $1 million, on top of the state’s current 5% flat income tax, aiming to fund public education, roads, bridges and public transportation.
– How many will be leaving?
– Where will they be going to?

Gridlock?
– What happened to the Red Wave?
– House will ensure more gridlock than we have now – even though Dems have majority in Senate
– What does the Biden scramble look like now through inauguration of new leaders?

FTX meltdown
– Whatever we know – I don’t think we know anything
– Days to take down 2nd largest Crypto exchange (without any conspiracy additives)
– Bitcoin/Ether down 20% last week – crypto markets in disarray
– It is NOT the coin – it is the little greedy bitches that have been allowed to play in this environment with no regulation
– All of a sudden there is odd money movements/withdrawals. What about the transparency????
– Now potentially $$ missing ($1billion)
– Mysterious outflows and:
— High-net-worth users are paying astronomical prices for NFTs on FTX at a time when the broader crypto and digital collectible market has nosedived. In one case, a collectible that traded near $9 three weeks ago sold for $10 million on Friday. Another NFT that was similarly priced a month ago, sold for $888,888.88 this week. (Somehow a way to move $$$ from FTX?)

Retailers Reporting this week
– Tuesday: Home Depot and Walmart (before the bell)
– Wednesday: Lowe’s and Target (before the bell)
– Thursday: Macy’s and Kohl’s (before the bell); Gap (after the bell)

Oil – OPEC Cuts Growth Forecast
– Trims demand growth in 2022, 2023 by 100,000 bpd
– Says global supply was in surplus in second, third quarters
– OPEC Oct. output fell by 210,000 bpd, exceeding pledged cut
– Saudi Arabia reports smaller drop in its October output
– Oil demand in 2022 will increase by 2.55 million barrels per day (bpd), or 2.6%, the Organization of the Petroleum Exporting Countries (OPEC) said in a monthly report, down 100,000 bpd from the previous forecast.
– CUTS IN PRODUCTION COMING

China – Softening??
– China’s financial regulator will allow property developers to access some pre-sale housing funds
– Commercial banks are allowed to issue letters of guarantee to real estate firms for escrow pre-sale housing funds
– The funds obtained by real estate companies from escrow funds accounts shall be prioritised to construct projects and repay debts
– Real estate companies are banned from using the funds for land acquisition, new investment or repayment loans by shareholders.
– SOOOOO- If funds used to start/continue building and  the deal goes sour – what happens to escrow funds?
– Whatever – CHINA stocks – especially Tech on FIRE last few days/week. FXI (Hong Kong ramping – up 28% this month)

China Real Estate
– Beijing has rolled out more measures to support its flagging real estate sector, including extending repayment periods, facilitating financing for developers and lowering mortgage down-payments.
–  This helps to stave off reality of crossing red-line in China. Liquidity stress relieved a bit.

 Fed Parade
– It may be “soon” appropriate to slow pace of rate hikes
– Odd for Dec 13 meeting are for a 80/20 0.50%/0.75%
– Markets want to believe

Layoff Parade
– Remember the $1,000 per employee thing?   – Penguins
– Layoffs showing that companies have fiscal restraint and doing the right thing
—- Stocks go up
— More companies see this as acceptable
— Amazon – laying of 10,000 (on top of all of the other layoffs we heard last few weeks)

UPDATE
– Elizabeth Holmes is looking like a 15 year sentence
– Co-Ed with FTX gang?

In More News of Greed
– Rail unions did not ratify labor agreement
– On that news, markets dribble down to lows of the day at closing on  Monday

Walmart – Home Deopt
-Walmart saw a decent turnaround.
– Still has inventory problems – but revenues up, margins better, $20 billion buyback
– Home Depot – better Sales/revenues
– Seems less tickets and keeping guidance for year the same (therefore not  such a good outlook)

DUH
– The U.S. Securities and Exchange Commission said on Monday it has charged S&P Global Ratings with conflict of interest violations.
– The watchdog said in a statement that S&P Global Ratings had violated conflict of interest rules designed to prevent sales and marketing considerations from influencing credit ratings.

POT NEWS
– Boxing legends and former rivals Mike Tyson and Evander Holyfield are teaming up to launch a line of cannabis-infused edibles called “Holy Ears.”
– Tyson 2.0 already sells cannabis-infused products called Mike Bites, which are shaped like ears with a bite mark.
– “From Mike Bites to Holy Ears, now cannabis fans around the world can experience the same wellness benefits that plant-based products have brought me,” Tyson said in a statement, adding that it is a “privilege to reunite” with his former opponent.

Earnings Slowing

420 Stocks …

CLICK for list of “Pot Stocks”

Stocks to watch: CGC, STZ, TLRY, CRON, MJ, NBEV

Love the Show? Then how about a Donation?

Announcing The CTP for
SP500 ETF (SPY)

*** End of Year Warm Up – Last one for 2022 ****

Winners will be getting great stuff like the new DHUnplugged Shirts (Designed by Jimbo) –
PLUS a one-of-a-kind DHUnplugged CTP Winner’s certificate..

CLICK HERE FOR MORE CHARTS ON TRADING VIEW

CRYPTO LIMERICKS

JCD Score ()

FED LIMERICKS

JCD Score ()