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SMCI Delays Annaul Report & Raises Fraud Concerns
Yesterday SMCI was accused of fraud, but the claims didn’t seem too believable without any evidence. Today SMCI announced that they are delaying the announcement of their annual report, which is raising some red flags that there are some concerns about fraud. SMCI opened the day with a bearish gap lower, and is trending down […]Read More
Yield Curve Uninverts & Triggers Recession Concerns
The yield curve has officially uninverted by crossing above 0%. This uninversion usually occurs right before a recession, and we also see other recession signals such as the Sahm’s rule that was activated a few weeks ago. Right now the market is not showing any signs of a recession, but if the Sept. 6 jobs […]Read More
PDD Drops to Lowest Price Level Since Nov. 2023
This week PDD reported strong earnings despite a slight revenue miss. During the earnings call there was a lot of bearish sentiment about future revenue, which led to a sharp selloff for PDD. Currently PDD is trading at the lowest price in 2024, and price levels not seen since Nov. 2023. I think PDD is […]Read More