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Was waiting for this verdict on Musk's contract. This was why I never called a bottom after the summer high. But after this drop, and the following earnings in the next quarter, it should be ready to reverse.
Expect 150 and further south.
Jasper jillionaire incorrect
You poked several people, but can't handle it coming back at you? The other lemming just didn't scroll back far enough to November 1 to see you twisting around like one of those Yolo Yoinkers on stocktwits. You guys are no different than powers or angurora. There's enough of this on the SPY message board. Eh whatever. Shouldn't expect any less here.
Hypocritical much? I was calling out someone who did exactly what you're looking at me cross-eyed for :P
Buy you were so sure here
Should I screen grab where you were Thurs-Fri
I don't normally play the "rawr I'm the winnest!" Game... but... you deserve this one.
For example: unions have sub classes for these different jobs. Electrical worker's union encompasses; linemen, wiremen, residential electrician, line clearance vegetation management, etc etc. All of these sub categories have their own rates, contracts, resign dates, holidays or lackthereof, dues...
It's been done. Those that haven't been apart of a union don't understand that it's all organized to such degrees already to cater to each field of work. And that's just IBEW. It's not outdated. It's an extra layer of leverage for those employed to not get wadded up like garbage and tossed out just because a company can. Yeah there's layoffs too, and cliques, and witch hunts to get rid of select individuals that drag the rest down.
There's still ways to fire people, but it's legally sound and documented, as it should be. Without unions, termination happens more regularly to uneducated workers who are forced to sign or lose the option to enact COBRA, as they told my father. Which is bs, but that's what non union companies pull. They expect an individual to not know their rights, pull shady measures and good luck to the former employee to take proper legal recourse, as their income has now just dried up. This isn't decades ago. It still happens today all across the labor market. There's still some jobs that have only just become more regulated these past 5 years to be somewhat safe. Did you know, that link I shared to that company, 8 years ago, there weren't policies regarding drop zones and entering under a tree while an individual was trimming.
Technology has sped up. Expectations sped up. Arrogance that everything should already be done, match, and evolve with it... that sped up too. Buddy... go out into a trade that's in the field. You'll be shocked that what holds our infrastructure together isn't as advanced as you all think it is.
The Electrical grid itself in places is still decades old and barely hanging on. The work pool isn't what it was either, as the younger generations want to work as little as possible while making as much as possible. Backwards ethics.
Don't be so quick to drink the "unions bad" kool-aid. Some of us in the locals aren't staunch democrats. I know I voted. For Trump. Over 2/3 in my field did too.
I'm holding off on puts until tomorrow. Today feels like consolidation. Limits hit for calls and puts, making good flips, but I'm leary of holding for any big move.
Apologies 6 years ago.
https://www.google.com/amp/s/nypost.com/2022/02/12/family-company-of-dr-oz-had-largest-fine-in-ice-history/amp/
That's a line clearance tree trimming company that hired illegals, and in some states are non union, who are responsible for emergency response outtages during post storm damage, as well as yearly routine maintenance in vegetation clearing. 4th most dangerous job in the country. Doing jobs like this, if you aren't union, you're dead.
So your utility work can be done for $15/hour in Florida by undocumented illegals vs unionized work for competent pay by U.S. citizens? Ok... the largest ICE fine paid in U.S. history was just 3 years ago by this exact utility work for that exact reason. That's not outdated. The personal experiences I listed were all in the past 5 years. That's not outdated.
Not understanding it's necessity... THAT'S outdated.
While I do understand the individualistic ideology and appreciate your viewpoint, and do run into people that sandbag in unions, I have to say even in corporate level or political level positions it happens without unions. Leeches are human nature. Path of least resistance... look at Biden. That pos is there and that's not a union gig. Lol. Jokes aside. Even in corporate level it happens. Union bylaws protect the entities as a whole, such as police and teacher unions from ramifications of lawsuit happy individuals. Police garner qualified immunity from tort, but not constitutional tort. Their union is the main reason as to why. Union bylaws in illinois supercede even state laws as mandated by state law for them. It's not as cut and dry as unions being a socialist mechanism.
The only thing that kept me working at a time of my life when I needed help the most, due to false accusations, was a union. Else they would have starved me out and they wouldn't have bat an eye. Unrelated personal issues impacting work decisions? The union had my back. Nothing you can say will ever change my mind. In the end I won. But a union made certain that my civil liberties weren't violated. The utility company I worked for couldn't care less until threat of lawsuit by my local. That's within just the past 5 years. Unions matter.
"I have dealt with..."
Also you "I have never joined one."
You're talking sideways out of your posterior.
Just like with OSHA regulations, and Labor Relations laws, the objective is obstruction and obstacles when it puts people at risk, or their best interests at risk.
This is why non union yokels view them as "inefficient." The detours in "production" are there because when they weren't, people in the past have paid for a company's abuse and often led to injury or death.
Unless you've been in a union yourself and know exactly how it works and what it does to benefit the employee, you have zero understanding of it, except to be a -lack of better words- company suck&ick.
That's not how pay works at unions. A union meeting is held to elect union members to a negotiation committee with your BA present for each local region. That committee then negotiates with the company for contracted wages, benefits, safety concerns, and length of terms on contract. If an agreement isn't made, they strike or remain unsigned. If an agreement is made, the contract is brought back to union members to be voted in as a whole.
There is no "union boss" in determining what a worker deserves. It's determined by the union body itself and the spine or lack thereof of the people elected.
I can tell the lack of experience in dealing with unions can shroud opinions of them. But it's equal to running your own company and negotiating value to labor force for the job you employed yourself into.
The BA is there to handle legal and corporate communications should something run off rail. Your union dues are paid to employee that mediation service, voting service, and legal service, to stand behind you for contract compliancy against corrupt supervision.
As much faith as people have in Elon Musk, not everyone in his company is Elon Musk.
Any job as "non union" is a joke and those that go that route will stand with zero backing should the worst happen. Companies wad people up and throw them away when they have no use for them. "That's business." Years of service, experience, or in my father's case, shipping his job to Taiwan, because training and keeping someone to do a job with tighter tolerances than what C&C lathes can do, even still today, is easier than keeping him around... yeah I'm a little bitter on the topic. Anyone that can fault employees for wanting to unionize, never understood the full reason for why people do it or got mislead as to what it actually is by talking points and brainwashing at anti-union companies worried about their overhead costs and bottomline (which they can afford but just don't want to.)
Zero prior disciplinary documentation. Let go for "production related reasons." Lawsuit followed.
My father worked as a machinist until 67, at a manual lathe, non union. Crap wages, and fired just before cataract surgery, months before retirement. 49 years in his industry. That's what non union gets you.
Non union usually gets slammed hard by OSHA. Take my word on it, the regulations and following the rules by the book, the obstruction and obstacles so people stop dying in the worst jobs in the country, must less collective bargaining for competent wages, are why unions still exist.
Loading up. It's about to reject.
Linemen are union. If your power is still working at home...
Roadwork is union jobs. Driving somewhere? That's almost always because of union work.
There's far more behind the scenes that unions keep competitive thanks to collective bargaining that most don't realize and take for granted. May want to double back on that. I come from union backgrounds. It's no different than a separate business, negotiating valuation on labor and skillsets. Mediocre is not the word I use...
Heck.. just to keep up with the S&P 500 Tesla needs to reach low 240s for it's 200MA to be in the same regards as it's competition. So it's safe to say it's vastly uderperforming in this correction.
Yep still bearish. Watching SPY below 428 at the 200MA, tells me this has room to be rejected by algorithms still. I can be wrong short term, but long term it's no rally or bull market.
The tech sector as a whole went up today. It needs more than this to rebound.
It burns!!!! Lol can't win them all
Popcorn is ready. Bring on the pain. Dive dive dive!
Bring on the pain. Expecting a deeper dive
I can be wrong short term, but I expect bloodbath ending tomorrow.
Treasury and Jpow speech tomorrow. Build up before choppy waters. But the afternoon will probably bring us back to 415-416. You're right though. This charting is predictable.
The last 20 minutes just left an abandoned top and identical fall to the rise. Candlesticks are showing the afternoon to be lower. The morning tried to hold a correction but I see a dead cat bounce. 200 was short lived.
Still more room south to go. Tomorrow will determine November's trend and I'm still bearish.
Was another good put flip from 414. Easy moves. Regret that I don't do bigger moves, but small bites and consistent gains. I'll take it every day. Although I think we'll flutter into Wednesday sideways before falling more dramatically.
Yep. Taking small bites and small flips along the way. Trend shift hits when charts are too obvious. Monday may be a correction and today consolidation. Until then I'm not going big on anything.
I dig for catalyst events.
Lithium contract in January was the production bottleneck concern that media pressed on. Once that went through it was inevitable since it was widely believed China had a strongarm on sourcing.
AI rally hype, Semiconductor shortages, crypto mining for years scooping up GPUs, this all meant another inevitable bottleneck.
Nvidia was doing great, but with AMD struggling as #2, and Intel being far behind, TSM under threat of invasion, all of these factors led to deducting that Nvidia would not surpass the stress test. It's earnings and announcements following expected profit taking all lumped together to signal decline.
That's just this sector. Now add in fed rates, inflation, Ukraine, Israel, and oil prices, costs will rise. Consumers will foot the bill. We're in decline until the next catalyst makes itself apparent. Read all bad news and glean what you can for any signs of what may disrupt our current path before an expectation of long term trend change can take place.
Typically this will lay in sourcing of materials and technology rights that were otherwise not possible before.
This.
I'm afraid it's very likely to.
Called this back in Q2 earnings and at 299 pps. We're continuing south until mid December at the very soonest. Sentiment is bearish across the boards. Very few hidden gems will climb up despite this. Even utilities which are typical safe in regards to fed rates and inflation are feeling some impact. It's a shorts market right now. Once I see a bottom, I'll be at the front of the pack to stand on my soapbox once again like on Jan 3rd.
Until noon and people sell off before big names earnings
Agreed. About to cross EMA9 and MACD. Loading up.
Friday, Monday holiday stable, Tuesday. A good climb.
It's expected to correct now, but I always expect the market to do the opposite. Cascade limits, average down, and ride the correction. :)
:)
When one loses another wins. Such is the market. Short term trades are all I do. It's been an easy market to read the past 2 months. Treasury yields falling and the market climbs since Friday. Easy money. Good luck to you bud.
Looks like you're having fun with it :)
Interesting enough... find a U.S. bill made after 2017. I'll wait. Trump stopped the unlimited printing, which is why the newest move to "battle inflation," is the Fed's tool to counter what was done. The fed still wants to adjust for political budgeting. This is why everything is happening right now as it is.
But hey... truth and facts and stuff...
Don't forget the spontaneous combustion of Teslas on Front Street in Maui that led to mysterious death tolls and untold horrors as emergency workers were confused by wompy electromagnetic interference that resulted in Hutchison Effect rooting all vehicles in place, unable to escape. The untold horrors are just... you'll have to go there and see for yourself...
(If you believe any of this, I have a time traveling DeLorean for sale that can take you back to 1990 so you too can invest in Qualcomm and Cisco.)