High-beta inflated stocks are falling hard…
Dear Members,
On Wednesday market traded mixed to positive after initial volatility. It was not Astro supportive day but the market still closed in green which is great news.
Many high-flying stocks are collapsing, look at ENPH, and SEDG, and yesterday PAYC was on our short-selling list in yesterday's stock report, it collapsed 32%. One time it was a Wall Street favorite stock. Many stocks are falling hard, yesterday ON semiconductors lost big value after earning, LSCC went sharply lower but our favorite ANET gained big value.
Higher price tag stocks are struggling, bears are targeting these specific stocks but frontline stocks are to do well so it will be interesting to watch the coming time.
Gold, silver, and oil lost value, it was negative Astro day, and we recommended booking profit on the higher sides.
Coffee made a fantastic move of almost $8.00 and Natural gained almost 7%. The rest of the grains and softs traded directionless.
Emerging market currencies gained value but frontline currencies lost value, Yen made many decades low.
Today will be an FED event, nothing surprising is expected. They won’t hike the rate but they will still sing-song of keeping options open.
This is what we mentioned on Monday: Last week, markets lost value even after Big Tech announced positive earnings. I never saw this kind of weakness coming in October, but realized once I saw the short-term negative Astro combinations on the 5th of October that the market could struggle until the 30th of October or the 4th of November. There is so much to learn from Astro combinations as they are playing unique roles every day. The same kind of combinations never occur in millions of years; that’s why each day is different for markets and us. Astro combinations will turn positive on Monday before the USA market opens. This is great news for investors as we expect a dark cloud to get out from Jupiter, which is currently ruling the market trend.
Overall Astro combinations are mixed for Wednesday so expect both side movements in stocks and indexes, but finally fear of fall will stop today so keep this in mind. Astro combinations of Powell are very negative in his chart, he has made directionless decisions since he became FED Chairman and he should be given a different job, he should be out of the FED Chairman job, it is purely Astro combinations that are indiacting, not my personal feeling.
As per our 6th October letter, we see the conflict in Israel and Gaza easing on the 30th of October. Even if the conflict continues, the market may continue moving higher as these conflicts won’t be able to impact the market from the 30th of October 2023 onward. We mentioned the note below on the 5th of October: There will be major problems for the world in two patches. In the first one, the market will start behaving more stable and stronger from the 4th of November, and geopolitical tensions will resolve after the 31st of December. These two dates are very important for investors, so add them to your calendar.
Wednesday’s trends and ranges for all the commodities, markets, currencies, and bonds:
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Thanks & God Bless
Mahendra Sharma