He went too far - TOO FAR!

Europe abandons its plans - oil recoils.

Twitter drama continues...

PLUS we are now on Spotify and Amazon Music/Podcasts!

Click HERE for Show Notes and Links

DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar.

Love the Show?

Then how about a Donation?

Follow John C. Dvorak on Twitter

Follow Andrew Horowitz on Twitter

Warm Up

- Testing key psych levels - not coming up for air

- The Twitter saga continues - but what did you expect with Musk involved?

- Egg on Face

- Red is the New Green

- Hair Raising Charts today

- Maybe ????/ China Tariff News?

Market Update

- TAKING A BEATING - No Where to hide...

- The opposite of the wealth effect, now known as poverty effect ?

- Red is the New Green?

- Bad year's return this month

- Earnings outlook - somewhat lower estimates coming in

OMG OMG - Seriously - some of these stocks down 50% in past few days. (COIN, U, RBLX, UPST)

DONATIONS

Performance 2022 - OMG

Growth/Value

OMG - Another OMG

Cut in Half

Last One

Markets In Turmoil

Rivian Motors

- Amazon and Ford took big positions - Was good for a minute

- Selling off shares, taking stock down

- High $160 - Current <$25

Earnings Outlook

- Analysts had lowered their overall forecast for S&P 500 second-quarter profit growth to 5.6% from 6.8% at the start of April

- The full-year forecast has held at 8.8%

- BUT - The 2022 growth estimate, however, drops to about 5% without the energy sector's growth - a sizeable impact for a sector that accounts for just 4% of the S&P 500's market capitalization.

HORRIFIC

- GoodRX - Misses - stock chopped 39% in A/H

- Upstart - Guides down - stock down 42% in A/H (ATH $395 - now $ 46)

- Coinbase Global prelim Q1 ($1.96) vs $0.86 S&P Capital IQ Consensus Estimate; revs $1.17 bln vs $1.48 bln S&P Capital IQ Consensus Estimate

Do We Have To Talk About This?

- How Does Nuclear War Help Anyone?

- Testing - very timely....

- The Ilyushin II-80, dubbed the “Doomsday” plane, is a Russian-built aircraft with emergency strategic equipment built which is designed protect Putin from a nuclear attack.

- The aircraft has highly distinctive features including a windowless fuselage and an exaggerated radar detection dome on the roof of the cockpit. This is reportedly to prevent exposure to electromagnetic pulse (EMP).

- Domsday plane showcased in Military parade in Red Square

European - Russian Oil Ban

- EU reportedly abandons plans to ban Russian crude shipping after failing to lock down key partners to mirror the sanctions, according to FT

- How does that work

OH - And this....

- Japan will ban Russian crude oil imports "in principle," as part of a Group of Seven (G7) campaign to counter Russia's invasion of Ukraine, Prime Minister Fumio Kishida said after an online meeting of G7 leaders on Sunday.

China Lockdowns

- Locking down in Shanghai - not improving

- Bejing - Srtarting to close in

- Will China ever be out of COVID emergency?

Fed

- Boosted and Freaked Markets

- Took 0.75% off the table - so he said - market rejoiced

- One day later - Oooofah

- Fed fund futures are priced for rates reaching 1.75-2.0% in July, from the current 0.75-1.0%, and climbing all the way to around 3% by the end of the year.

- USD at 20 year high

- Crypto - crashes (so much for the hedge - thanks fellas!)

NEWS ALERT - Last Friday

- CNBC’s Jim Cramer said Friday that the Federal Reserve’s attempts to crush inflation by raising interest rates will also inevitably bring down “formerly high-flying stocks” – even those that are “legitimate” companies.

Double News Alert!

- Nothing done but..... Biden weighing reducing/lowering China tariffs to slow inflation

- NO F'Ing KIDDING! WORST THING EVER TO BEGIN WITH

Hone Kong "Election"

- Hong Kong's leader-in-waiting, John Lee, was endorsed for the city's top job on Sunday by a committee stacked with p...