Economic update:
1. Average rate on 30Y mortgage now 7.3%, highest since 2000
2. Mortgage demand at 25 year low
3. Wells Fargo mortgage business down 90%
4. Credit card debt hits $930B, higher than 2008
5. Average American’s savings down 72% this year
We are in a recession.
Hawkish press conference by Powell today. Interest rates raised by 75 bps. This is the fastest pace of rate hikes we’ve seen in decades. It doesn’t look like the Fed will slow down anytime soon. I bet we see rates move up to 10-11% before the Fed starts to soften their position.
- Stan Lee published his first comic book at the age of 39
- Samuel L. Jackson became a famous actor at 46
- J.K Rowling published her first book at 32
Just because you aren't successful today doesn't mean you won't be in the future. Never count yourself out. Your time IS coming
BREAKING: The average mortgage rate in the United States has just hit its highest level since 2008, at 5.9%.
Meanwhile, housing prices are down less than 5% from their peak.
The housing market will be joining the bear market soon.
Nothing better than waking up to a big Airbnb booking in the morning.
Guest is paying off my monthly mortgage in 6 nights while I’m watching the sunrise from my hot tub 🙌🔥
The most important level to watch is the 4080 low in $SPX from August 2nd.
This marks the previous higher low and the line in the sand for bulls.
If 4080 is broken, the first lower low of the relief rally forms.
This would invalidate the uptrend and give bears control of $SPX.
What my parents taught me 🧓
- You have to go to college
- Play it safe - don’t take “risk”
- Get a stable job
What I am going to teach my kids ✅
- Invest in yourself & companies you believe in
- Help others in need
- Never say never
- Pursue your passions & goals
This is while I’m in class. I’m NUTS +$31,930.12 💰
Entries, exits and scale out points with updates
Not many do it like us
Let’s keep the bangers coming 🔥 $SPY $APRN $GFRX $NERV
@Tesla@elonmusk any chance you guys can create some kind of check-in or queue system for you Supercharger locations. Would be neat to see a number assignment on display screen . #tesla#ev#cars