Amazon reporting last night and doing better than anyone’s wildest imagination with the stock up over 11% premarket has not kept the market afloat this morning. When do we get the rebound…anyone’s guess. But so many are expecting it…will it be that easy?
Also, you can add to the list of drags on the economy the tendency now of large companies to get on the “social justice” bandwagon. Without giving any indication where I stand on these issues it’s a slippery slope for large business to take stands on highly charged issues of the day when no matter what side they choose 1/2 of their customers are going to be on the other side of the issue.
The risk? Just ask Target. 1,000,000 signatures and climbing to boycott Target. I think this is just the beginning and Target? They are a doomed company if they think they can cut off half of their customers. The stock has already taken a nosedive. Apple is on a similar downward spiral. Listen, the way I look at it if your CEO you job is to maximize profits not take social stands on the issue of the day. That issue changes every so many years but you build your reputation and business on all customers regardless of their beliefs. Leave the social pandering to the politicians that is what they are good at!
Enough for this morning but if things do not change a bit that’s another huge drag on the markets and our economy. My guess is that the apple CEO does not have a long time to go before he gets the ax along with targets CEO. If they want to change America they need to do it another way not at the cost of their shareholders.
I weathered yesterday’s sell off pretty good with a nice Gain for the day and am positioned now for further gains with 7 swings I have going right now that are very diverse.
If you wish to follow my trading you can join my private twitter feed @rickjswings. It’s free for now and might be for awhile. So take advantage of it as I post all of my trades real time and am available for questions.
Good Luck Today
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