Stocks Remain Defensive as Data Continues to Flash Danger

Smart Investing Society Welcome to "Smart Investing Society", a new weekly newsletter written exclusively for the TradingTips community. At Smart... Another trading week is behind us! Welcome to "Smart Investing Society", a new weekly newsletter written exclusively for the TradingTips community. At Smart Investing Society we are looking to identify investment opportunities that are unloved, ignored or unknown. Every Sunday you'll receive a newsletter with these insights. If you no longer wish to subscribe to Smart Investing Society, You may opt-out here Another trading week is behind us! For the week ending June 10th, stocks started the week much more calmly compared to the high volatility of the past few months. That’s as several retailers warned that their inventories were building and that their profit margins would likely drop as they increased the number of goods on sale. Such news could be a sign that inflation will break shortly, and will start coming down meaningfully in the latter part of the year. Until then, however, lower corporate profits will weigh on stocks. With Friday’s inflation numbers hitting 8.6%, a new 40+ year high, some traders continue to see a further decline ahead. But a number also see the potential for a strong rebound from here. This week’s Deep Dive pieces look at this growing divergence. TODAY’S TOP TIPS Stay-At-Home Macro: We Are Not in a Recession, Nor Is One Imminent Talk of a recession has ramped up in recent weeks. The first quarter GDP data showing a drop of 1.3 percent took many by surprise. A second such quarterly decline in a row would meet the actual definition of a recession. But we may not get there. That’s because the data shows that the labor market is strong. And if the labor market is in a strong, most other economic problems are solvable. » FULL STORY The Maverick of Wall Street: Nancy Pelosi Buys the Dip It’s been no secret that Speaker of the House Nancy Pelosi has managed to become one of the best traders of all time. Thanks to disclosure forms, she’s shown an uncanny knack for getting into stocks (and options on stocks) right before a big move higher. And overall, following her trades has been a simple way to make decent returns in a short amount of time. Now, Madam Speaker has just started buying the latest market dip. » FULL STORY Wall Street Silver Official Podcast: The Fed Is Too Late and Completely Clueless While traders are becoming more mixed on the future direction of the economy and the stock market, many can agree that the Federal Reserve is to blame. That’s because the central bank could have started its tightening policy in 2021, before allowing inflation to rise to multi-decade highs. By waiting until they did, the bank now appears behind the eight ball, and even clueless. » FULL STORY Meet Kevin: DANGER: The Coming Recession is WORSENING One of the top economic trends being watched this week is inventory levels. RetailerTarget (TGT) warned on Tuesday that they would likely face a drop in profit margins. The problem? A surplus of many goods. While a welcome change from the supply chain issues leading to shortages in the past year, lower profits tend to mean lower stock prices. That in turn, could be a sign of a recession ahead. » FULL STORY Simply Bitcoin: Bipartisan Bitcoin Bill Introduced in US Congress, GAMECHANGER Cryptocurrencies are a new asset class that have been around less than 15 years. Like any technological innovation, governmental regulation comes in later after the space has been created. Two US senators have reached across the aisle to create a piece of legislation that would provide a governmental framework for regulating cryptocurrencies. While the bill still needs to be debated, passed, and signed into law, it could be a gamechanger for onboarding millions. » FULL STORY NOTABLE HIGHS AND LOWS NEW HIGHS OF NOTE LAST WEEK Cross Timbers Royalty Trust (CRT) – Oil and gas property royalty company Enerplus Corp (ERF) – Oil and gas exploration company EOG Resources Inc. (EOG) – Oil and gas exploration company Penske Automotive Group (PAG) – Auto and truck dealerships Tetra Technologies (TTI) – Oil and gas equipment and services NEW LOWS OF NOTE LAST WEEK Bausch + Lomb Corp. (BLCO) – Eye health instruments and supplies Deluxe Corp (DLX) – Payment solution services Dole PLC (DOLE) – Fresh fruit and vegetable production Ouster (OUST) – Lidar hardware and software developer Zendesk Inc (ZEN) – Customer support software app INDEX ENDED WEEK % CHANGE YTD % DJIA 31,392.79 -4.60% -13.60% Nasdaq 11,340.02 -5.60% -27.50% S&P 500 3,900.86 -5.10% -18.20% Russell 2000 1,802.33 -4.30% -19.70% Not sure the best way to get started? 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