Watch Scott Jennings Obliterate a Reporter Over Her 'Both Sides' Nonsense on Political...
The Democrats Are the Party of Antisemitic Terrorism
Trump's New Nickname for Joe Biden Is Spectacular
If Democrats Had the Truth on Their Side They Wouldn’t Have to Lie...
They Tried to Silence a Chinese Dissident in America — It Backfired Badly
Hey You, Get Off My Crowd
Hey You, Get Off of My Crowd
Republicans Could Make History on Gun Rights
Trump Cracks Down on Arizona’s Illegal Immigrant Tuition Scheme
Fetterman Breaks with Democrats on Israel, Border, Trump Policies Amid Party Backlash
So, This Is Why ICE Agents Wear Masks
Massive ICE Crackdown: Over 1,400 Illegal Aliens Arrested in Month-Long Trump-Era Sweep
It Took This Long for Jon Ossoff -- a Top Target for NRSC...
FEC Slaps Maxine Waters with $68,000 Fine for Illegal Campaign Contributions, Financial Vi...
CA Democrat Councilman Sparks Outrage, Labels ICE Agents 'Terrorists' Amid Rising Assaults...
OPINION

Musk Fires Back

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
AP Photo/Chris Carlson, File

The market was off for the week, but it could have been a lot worse, as the indices were tested and came back nicely.  

Materials (XLB) were up +2.60% and the only sector that had a meaningful pop ahead of today’s signing of the infrastructure bill by President Biden.

Advertisement

It was feast or famine with monster declines:

  • (XLY) Consumer Discretionary: -3.54%
  • (XLE) Energy: -1.22%
  • (XLU) Utilities: -0.85%

The rally has become more inclusive, with many more names trading above their 50-day and 200-day moving averages.

The shape of the year continues to snake along with the seasonal pattern, suggesting the year-end rally is still largely intact.

Musk

Elon Musk is once again taking on the establishment. He is now the richest person in the world and takes great pleasure in taunting his nemesis, including his new foes on Capitol Hill that have tried to make him all that is wrong with the United States.

Bernie Sanders took a shot this weekend with Musk, replying that he could sell more stock.

I’m still not sure what “fair share” is, as nobody has put a figure on it – but what’s being paid now is very unfair. This economy has been firing nicely, partly to low taxes and fewer regulations. The extra stimulus money was unnecessary and only added rocket fuel to the inflation crisis without changing anyone’s economic lot (except billionaires like Elon Musk).

Advertisement

The exchange did not help Tesla (TSLA) as the stock is trading down around 3% so far today and is down about 10% on the month.

Portfolio Approach

We are adding to Materials in our Hotline Model Portfolio this morning.


Today’s Session

It’s off to the races this morning as the rally continues. Treasury yields are up slightly and crypto is on the rise as well. WTI is taking a breather, down 1.37% and breaking below $80.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement