DHUnplugged #602: Safety Dance Trade

Housing numbers rolling over. Survey says: Bears overtaking Bulls by a wide margin. Turnaround Tuesday is intact. IMF is downgrading global growth. Announcing a new Closest to The Pin PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links 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 - When  the Going gets tough - the morons recoil - Rates still moving higher - could be ready to peak - PPI at 11.2% last week - ridiculous - Next week avalanche of earnings - Housing prices cooling? 30-yr @ 5.25%! - Happy Financial Literacy Month - A must see chart/infographic - Excitd abiut 4/20 day? - TESLA announcing earnings at 4:20 Market Update - April now a down month, Gold Up, Silver Up, Dollar Up (SAFETY Trade) - Twitter think all over Twitter - Nuclear and Domestic Drilling Back Baby! - Bank Stocks - Earnings playbook last week - spot on.... (But.....) - Tuesday - The Once a Week short squeeze happening today - Fed speakers are all hawkish in union - A Fine Kettle... Hawks Unite - A Kettle of Fed speakers, a Cast or a Boil is now the proper nomenclature. - Group of Hawks is called.... Brainard - Party Line... - Federal Reserve Governor Lael Brainard said she expects methodical interest rate increases and rapid reductions to the Fed's balance sheet to bring U.S. monetary policy to a "more neutral position" later this year, with further tightening to follow as needed. Yield Curve Types Yield Curve Lingo Markets - Technical Levels - Very basic support and resistance right now - 50 DMA seems to holding wither resistance (QQQ , SPY) or support (DIA) Netflix  - UGH - Net -Shits the Bed is more like it - Stock down 25% after first loss of subs in a decade and miss on revs and weak Q2 guidance (62%  from high) - Global subs expected to come in at +2.5 million ... actual -200k - Taking down Roku, Disney, paramount and Fubo TV Earnings - Bank of  America (best of season so far) - Reports Q1 (Mar) earnings of $0.80 per share, $0.06 better than the S&P Capital IQ Consensus of $0.74; revenues rose 1.8% year/year to $23.2 bln vs the $23.09 bln S&P Capital IQ Consensus. - Net interest income up $1.4 billion, or 13%, to $11.6 billion, driven by strong deposit growth and investment of excess liquidity, loan growth and benefits from higher long-end interest rates. - If yield curve calms a bit AND recession potential fades... If If If - then good for BAC BlackRock - BlackRock Inc posted a better-than-expected quarterly profit on Wednesday as the world's largest asset manager benefited from investors pouring money into its various index-traded and active funds. - The New York-based firm ended the past quarter with $9.57 trillion in assets under management, up from $9.01 trillion a year earlier. That compares with a record high of $10.01 trillion in the fourth quarter. Bastards! - Elon Musk on Thursday stepped up criticism of the U.S. securities regulator, calling Securities and Exchange Commission officials "bastards" for bringing fraud charges against him over his 2018 tweets regarding taking the company private. - "So I was forced to concede to the SEC unlawfully. Those bastards," Musk told the audience. - Musk said he felt forced to settle with the SEC because banks threatened to cease providing capital if he did not do so, which would have made Tesla bankrupt immediately. - Meanwhile......April 16 - A federal judge has ruled that Tesla CEO Elon Musk's 2018 tweets about having secured financing to take the company private were false, according to court filings by Tesla investors suing the billionaire over the tweets. - The filing said that the court ruled April 1 that Musk's 2018 tweets were "false and misleading.