Spinning its wheels: PTON bombs 18%

Peloton reports $1.2 billion loss ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ The political momentum is shifting... President Joe Biden has a 44% approval rating, which may not sound like much, but it's forcing some major recalculations when it comes to the way people are viewing the midterm elections. Democrats look increasingly likely to keep the Senate... and they might even have a chance at the House. Of course, that's all dependent on the state of the economy, and what Jerome Powell tells us could change everything very quickly. Inflation is still driving central bank policy and there is a palpable sense that everything is hanging by a thread... Especially in China, where the central government announced a massive stimulus plan in order to keep the economy going. Yet that's the thing about trading. It's all about timing, and things that are supposedly "impossible" and "unsustainable" can actually go on for a very long time. We're in a massively debt-driven system, but that really won't matter unless there is a major political crisis that forces a reckoning. Until then, it's business as usual. In my mind, that's why the West has been so unified in confronting Russia. It's not about stopping an invasion (or at least it isn't just about that), it's about maintaining the current economic order... and European leaders are willing to face a mild recession rather than the possibility of a real change in power. (The new British prime minister seems willing to go a lot, uh, farther. Check out what she had to say below.) At least we live in interesting times. Forget what they say about the Chinese proverb, see it as an opportunity, not a curse. Keep Moving, Any strategy that makes you money consistently is worthwhile. Though many new traders believe that trading is primarily about indicators and tools, Chris maintains that it is at least 95% about emotional control. This is especially relevant in this bearish, choppy market which has made the trading world extremely difficult. Learn some pro tips to come back from your losses and stay in the game. [CLICK HERE TO WATCH]( WORD ON THE STREET Biden On The Offensive, Chipotle Union, Jackson Hole Hopes - POTUS Polls Pumped Up - President Joe Biden's approval rating has hit 44% in a new Gallup poll, the highest rating in a year. The Administration is riding high following its recent climate change bill. Weak candidates also have most projecting that the Democrats will keep the Senate... and a few cautious voices are suggesting that the Democrats may even be able to keep the House. - Union Drive Succeeds At Chipotle – First Starbucks, now Chipotle. CMG is the latest food service company that is facing a challenge from organized labor, with a successful 11-3 vote taking place at a location in Michigan. This is the first for CMG, but may not be the last - Starbucks (SBUX) is facing drives at at more than 100 locations - Powell Ready To Make Us All Depressed – Jerome Powell never looks happy, has anyone noticed this? The head of the Fed is expected to address the world at 10AM EST from Jackson Hole. Expectations are that Powell is going to try to deliberately dampen the mood, promising more tough measures on inflation and no forthcoming reversal on interest rate hikes. - China Changes Course - Funds shorting China got shorted themselves after the People's Republic unveiled a massive $146 billion stimulus measure. It's a surprise from Beijing, as the country's central bank had said only limited action was coming earlier this week.  “3-Pillar” strategy spots a 108% surge in just 4 days... RapidFire is on fire — with new trades are on the verge of exploding soon! [Click here to learn more](. HOT SPOTS: What's Going on in Geopolitics - British PM Will Take The Pain Away – Don't get too worked up if the Fed gives us a depressing message, the British Empire will cleanse us all in nuclear fire. Liz Truss, the Foreign Secretary and almost certainly the next Prime Minister, got a leading question about whether she would be willing to push the nuclear button if it "would mean global annhilation." Truss rather tonelessly responded, "I think it's an important duty of the Prime Minister and I'm ready to do that." I know she wants to be the second coming of the Iron Lady, but I think even Thatcher would have framed that a bit more delicately. - Putin Increases Size Of Russian Military – Perhaps signaling an end to his insistence of waging war on the cheap, President Vladimir Putin signed a new decree that will increase the size of the Russian military by about 10% to 1.15 million combat forces. That will mean a boost of about 137,000 troops, about equivalent to some estimates of the forces fighting in Ukraine.  - Pope Francis Names New Cardinals - One pope has already retired, so why not another? With his health reportedly suffering, Pope Francis is taking steps to strengthen the reformist direction he's taking the Church in by creating 20 new cardinals tomorrow. The candidates are notably progressive by Vatican standards, giving the pontifex a powerful voting bloc that could help determine his successor if he steps down like his predecessor Pope Benedict XVI.  CUTTING EDGE: What[']( Happening In Tech - Twitter Ordered To Give Up More Data - Another day, another victory for Elon Musk, who won a court order for Twitter to provide Musk data on 9,000 accounts that were audited at the end of 2021. However, it was a limited victory, with Judge Kathaleen McCormick chastising Musk's legal team for its initially "absurdly broad" request for "trillions upon trillions of data points." Try using that one on the IRS. - Ready Player Me Raises $56 Million – The metaverse may have taken a step back in trading trends, but it still looks like an inevitability in the long run. And the industry leader is not Meta Platforms or Roblox, but an Estonian company called Ready Player Me. The company's "avatars as a service" could be the next big thing, at least to some investors, who coughed up $56 million in a new fundraising round led by Andressen Horowitz. - From Bad To Worse For Peloton - Another vaccine stock is facing hard times - not a biotech pick, but remote fitness. Peloton (PTON) was all the rage during the height of the pandemic, but it is now reporting an even wider loss than expected. The stock was down more than 18.3% during the trading day. The quarterly loss was greater than $1.2 billion FOR YOUR CONSIDERATION What I’m advocating isn’t some sort of political intervention. Instead, I want to teach you how to come out on top – among the rich. Ordinary people like you MUST learn to take charge of their financial futures. get real. No one is giving you a handout. The System is not on your side... but we are. Chris Hood talks about the way you can take responsibility with a system that can build wealth in the here and now. Let's end the week strong. 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