Mad Hedge Hot Tips
March 29, 2019
The Five Most Important Things That Happened Today
(and what to do about them)
1) Lyft Prices at $72 a Share, the top end of expectations, valuing the company at an eye-popping $24 billion. Never mind that the company is losing money hand over fist, it’s all about potential. The tech IPO bubble top has started! Click here.
2) Pending Home Sales Drop 4.9% YOY, and 1.0% in February. Give it another month or two for ultra-low interest rates to kick in for the lagging indicator. Avoid homebuilders (ITB). Click here.
3) Wells Fargo CEO Tim Sloan Resigns, over the sins of his predecessor in the giant cross-selling scandal. Next scapegoat, please. Still, (WFC) is the cheapest bank around. Too bad I hate banks, even though I love the horses and stagecoaches on their checks. Click here.
4) New Home Sales Up 4.9%, to 667,000 units in February in a rare positive data point. Could low interest rates finally be kicking in? Still, avoid homebuilders. Click here.
5) Consumer Sentiment Rises to 98.4 in February, says the University of Michigan. Watch out for quarter end window dressing today. They’ll try to close them high. Click here.
Published today in the Mad Hedge Global Trading Dispatch:
SPECIAL FANG ISSUE
(FINDING A NEW FANG),
(FB), (AAPL), (NFLX), (GOOGL),