Image SourceMost popular stock prices are down a lot already and i think there is still more down to come!
I have been a broken record repeating my predictions for where the markets are headed.
Again, on an up pre market like today, I my opinion this is an opportunity to get out of some longs being held & getting into Inverse Funds to make some coming profits.The macro view of the markets says to me mucho-more(o) down coming.
Take retailers to start- Target lost 1/4 of their value on Wednesday. Lowest since 1987! Why? Because of getting hit on all sides- rising labor costs, rising cost of goods, rising fuel costs which means higher cost to get goods and higher cost to deliver them. Jobless claims already hit a 4 month high which is another sign of incoming recession
Look at the biggest stocks in the market
Apple broke support levels
Microsoft broke support levels.
Cisco earnings were crappy- they have plenty of product demand, they just can't deliver because of supply chain issues.
Amazon getting creamed on rising shipping costs. (AMZN is -42% from 52 wk high!)
Everything is cutting into corporate margins= lower profits= lower stock prices. I didn't write this article to make you panic and these are my own opinion about recession so I can be wrong.
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From @phoenixgold