The DC Today - Monday September 26, 2022
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 26 September 2022
⏱️ 20 minutes
🧾️ Download transcript
Summary
This is a long DC Today with a lot more market talk than you are used to, largely because the “legacy” version is only one day a week and I am purposely trying to pack a lot in. The last week has been brutal for markets and I have a lot to say today to quantify it, and a lot coming Friday in Dividend Cafe to qualify it.
I was the market guest on Maria’s Wall Street over the weekend, discussing all sorts of aspects of the market and investing environment.
Dividend Cafe on Friday dug deeper into foreign policy and geopolitical threats and their potential ramifications to markets. The video is here and same comments on podcast here.
Off we go …
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:12.8 | Hello and welcome to a Monday edition of the DC Today. We have our legacy written format available in your inbox at the DC Today.com. |
| 0:25.5 | Pretty long DC Today because a lot happening in the markets. And I want to take advantage of the |
| 0:32.9 | longer form written version today to really unpack a lot of market info. And I'm going to walk through |
| 0:39.0 | it all here for those of you listening to the podcast or watching the video, just kind of |
| 0:44.0 | bullet point by bullet point sharing some of the information with you. And I'll probably have |
| 0:47.6 | a little bit of commentary as we go. It was another day. And I've kind of lost count in the last six weeks, particularly in the last three of those six weeks, how many times this has happened where markets were down, but then there was a cascading of selling into the clothes. |
| 1:05.8 | And I mean, in some cases, today being one of them, the last five minutes. |
| 1:11.7 | Sometimes it can be the last half hour, and that's oftentimes ETF trading, as the trading books have to get aligned with what market redemptions and share creations were done by the exchange traded funds that day. |
| 1:25.5 | But in the last five minutes, it's almost always technical traders, a levered position on winding, |
| 1:33.1 | and it just puts a huge amount of downward selling pressure when there's an imbalance of sellers |
| 1:39.6 | to buyers in the final minutes. |
| 1:41.3 | But nevertheless, even apart from those technicals and whatnot, the momentum is |
| 1:47.0 | clearly to the downside, and we'll walk through some of that. So I, let's see here. The exact |
| 1:54.4 | numbers, the Dow was down 330, wasn't it? 329. 330 points, a little over 1% on the Dow. The S&P was also down over 1%. |
| 2:04.3 | The NASDAQ was actually a little better off, although it's been getting hammered more lately, |
| 2:08.1 | but today it was down 0.6%. |
| 2:10.2 | So this is interesting. |
| 2:12.5 | All three broad market indices, Dow, NASDAQ, S&P, have given back all of their 2021 returns and are back to |
| 2:20.9 | November of 2020 levels for the Dow and the S&P, NASDAQ's back to August of 2020 levels. |
| 2:30.1 | So, I mean, at that point, we were only in like the first of the seven, |
| 2:35.3 | or even like the second of the seven lockdown phases or whatever. |
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