Altucher: [Today] Aug. 30th Trump’s Great Gain Goes Ballistic

The Dow and the S&P 500 were flat this morning as investors eyed the latest round of earnings reports and continued to follow the decline of Tesla (TSLA). Shares of Tesla were off another 5% this morning as negative momentum continues to clip the electric vehicle manufacturer.

The Trouble with Tesla Dear No, The Dow and the S&P 500 were flat this morning as investors eyed the latest round of earnings reports and continued to follow the decline of Tesla (TSLA). Shares of Tesla were off another 5% this morning as negative momentum continues to clip the electric vehicle manufacturer. Today, investors will be paying very close attention to statements from Federal Reserve Chair Jerome Powell. The central banker will testify before Congress later today. Let's dig into the stories for Tuesday. Time for Jay Powell This morning, Fed Chair Jerome Powell will speak before Congress on the state of the economy. The Fed Chair will testify two times this week. Once before the Senate Finance Committee and the other before the House Financial Services Committee. Powell is likely to discuss the current state of the U.S. economy and efforts to ensure a stable path moving forward. The 10-year interest rate currently sits at 1.36%, the highest level since February 2020. Earnings in Focus I'm very interested in the state of retail today. This morning, Home Depot (HD) and Macy's (M) reported earnings. Home Depot is off this morning despite news that the company reported strong earnings. The firm's CFO said that the ongoing pandemic will impact consumer spending. Macy's, meanwhile, added another 2.5% after the firm reported stronger revenue figures. The stock has rallied 35% over the last year despite ongoing concerns about the economy and retail spending. Negative Momentum Shares of Tesla (TSLA) are off more than 5.5% this morning as investors peel off profits and continue to sell shares. As I noted earlier this week, Tesla is experiencing a technical breakdown, and shares continue to slump as traders exit the stock. There is a lot to unpack here, and I plan to provide additional insight on Tesla this week. For now, it's a good time to avoid trading this stock and focus on value in the EV sector. I've said before that Tesla is trading at more than 30 times book value. Meanwhile, the company that will surpass Tesla in terms of electric vehicle volume in 2024 is trading at less than 0.7 book value. That would be Volkswagen (VLKAY). It also pays a dividend, while Tesla does not. If you're seeking extreme value, however, eye Porsche Automobile Holding SE Unsponsored Germany ADR (OTC: POAHY). This portfolio consists of 53% VW stock, and it's trading at a price to book value under 0.6. Why? Because investors are too irrational. That's all for today. If you have any questions or topics you'd like me to discuss, please don't hesitate to email the team at feedback@haveninvestmentresearch.com. Cheers, Garrett Baldwin Market Conditions with Dr. Bauer The 5-13 EMA is a simple momentum gauge that I like to check each morning. When the blue line below is above the red line, it is a good indicator of capital inflows and strong short-term purchasing across markets. When that line falls, it can be a good time to hedge your positions or consider moving to cash. Stay long for now. Enjoy your Tuesday, Dr. Gregor Bauer © 2021 Godesburg Financial Publishing, Inc. DISCLAIMER: COMMUNICATIONS FROM HAVEN INVESTMENT RESEARCH (HIR) ARE FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY – NOT INVESTMENT ADVICE: HIR and all the services it offers are for educational and informational purposes only and should NOT be understood to be securities-related offers or solicitations. None of HIR's communications should be considered or used as personalized investment advice. HIR recommends that you speak with a licensed professional before making any investment decision. 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