The DC Today - Wednesday, February 1, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 1 February 2023
⏱️ 7 minutes
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Summary
ASK DAVID “When you talk about a stock on television, but then later end up selling as your viewpoint changes, do you publish or broadcast your new view somewhere?”
~ Tom
As for the more practical aspect of your question, no, we really couldn’t possibly be responsible for “running a portfolio on TV” if you know what I mean. Updating what we have added and subtracted and bought and sold and when and why would require a really different forum to take on that responsibility. We are never making Buy or Sell recommendations on TV, but rather just speaking at a point in time as to what we are doing and why. People use that information in a number of different ways, but I would never recommend one use it as a holistic portfolio strategy (partially for the very reasons you cite). Our clients, obviously, see the whole enchilada week by week etc. (our WPHR is sent to clients every Wednesday, and yes, regulatory requirements render that a client-only communique). I hope this helps.
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets. |
| 0:14.4 | Well, hello, and welcome to Fed Day, and you could kind of say that Fed Day was a rally day today and may not feel like the Dow was up, I think, six or seven points, but I'm going to explain what kind of happened here. |
| 0:28.2 | So I don't need to look at the data right now. I'm just going to walk you through qualitatively what happened. |
| 0:35.0 | As I mentioned yesterday, there's always a lot of positioning and short-term outgoes and things going into the Fed announcement. |
| 0:42.2 | That can be long. It can be short. It can be hedged. It can be unhedged. It can be both. |
| 0:47.1 | And then you have unwinding or rewinding and all these things afterwards. So let's take out that noise. |
| 0:52.9 | We are really working on a lot of Fed meetings |
| 0:55.6 | in a row now where the immediate aftermath is worthless. So today, and you'll see the chart in the |
| 1:02.1 | DC Today.com, but the Dow had been down pretty good. Let's call it $250,300 throughout the day, |
| 1:10.0 | and then it dropped another couple hundred. |
| 1:12.9 | And so you got a Dow down over 500 points and then it rallied up about 240 points. |
| 1:19.8 | So that's within, I'm going to say, 60 minutes, 75 soaking wet, that it moved 740 points intraday, closed dead flat on the day. |
| 1:33.6 | But dead flat was only down from a high, 240. It was up 500 from a low. |
| 1:39.1 | The NASDAQ had been down..72% at its low, closed up on the day 2%. |
| 1:46.1 | The S&P didn't go down as much, but it was up just a tad over 1%. |
| 1:53.7 | So risk on, the top performing sector was technology. |
| 1:59.4 | You definitely got more high PE type movement. |
| 2:03.1 | And then that bond rally, and I see here in the DC today that I'm missing the word energy |
| 2:09.3 | in bottom performing sector, but it was the only down sector. And we'll get that cleaned up |
| 2:16.1 | before I go to press here. But energy was down 1.89. So energy was a bit of a lag today. Everything |
| 2:22.4 | else was up. And a lot of volatility around the Fed announcement. Well, what did the Fed announce? The Fed announced that interest rates were going to be down, excuse me, up a quarter point. There was a 100% chance coming into the meeting today. |
| 2:34.7 | That's what they're going to announce. And more or less, qualitatively, |
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