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Show Notes
Summary of the day
* TSLA closed at 242.50. Down 4.8% on day ahead of earnings after market. TSLA had a big miss on cashflow.
“It's an amazing product but I do want to emphasize that there will be enormous challenges in reaching volume production with the Cybertruck and then in making the Cybertruck cash flow positive,” Musk said during Tesla’s earnings call on Wednesday.
“While I think this is potentially our best product ever — I think it is our best product ever — it is going to require immense work to reach high-volume production and be cash flow positive at a price that people can afford.”
* NFLX closed at. Down 2.69% on day ahead of earnings after market. Price increases coming on subscriptions
* Transports sort of crashed
* JB hunt down after earnings
* CAT down big
* PCLN down big
* LTCN down big after hours after earning
* MS down big new yearly lows
* GS gave back all of earnings pop. New yearly lows
* BLK close to new yearly lows
* broader markets red open and sold off all day
* Posted below at 9am
* DONT MISS: Citadel LLC’s Battle with the SEC: What You Need to Know. By Bill Cara
* 10 yr yield 4.9%
* Leaked recording by LEN executive
“The cost of buying down rates has tripled and we have to keep doing this.”
“Private builders are under tremendous stress”
“We are promising 10% increase in volume when our competitors have not given you that commitment”
“Asking all partners to take less to pass the savings to customers”
“We have a lot of land”
* Closed at the day lows
* NVDA and TSLA being sold off hard
* 3:10pm
Breadth
* 70 new highs
* 619 new lows
* 17% advancing 78% declining
* 78% below 50 day ma
* 70% below 200 day ma
Stuck out
All day controlled heavy selling
Strong
Yields
Volatility
Weak
All sectors red except Energy
What to watch
Watch mag 7
Watch yields
Earnings
Economic data
https://www.marketwatch.com/economy-politics/calendar
Financial Freedom is not free, but the pursuit is worth the treasure.
