Did you guys see this Luckin Coffee (ticker: LK) price movement?

Another China jacksparrow brand (copycat of Starbuck) trying to raise money from Wallstreet.
Getting whacked below IPO price just after 5 trading days.

Remember, don't buy any Chinese newly IPO stocks. Too dangerous! 

There were a lot of scam and fraud too. Couple of years back, these startups in China found a backdoor to list
themselves in Nasdaq thru reverse merger to raise capital and when business starts to falter, they would not publish
their financials anymore, making the stock tank and plenty of lawsuits. They simply don't care because they're overseas, just fold the company, re-start new one with different name and repeat.  Nasdaq decided to scrutinize after a while but unfortunately investors already lost a lot of money.  They also tried to list themselves in Singapore and Malaysia, often the scammers caught after providing false and misleading financial reports.

There you go, overnight DT picks another fight, this time with Mexico, suddenly blasting them 5% tariff on imported goods from them unles they stop illegal immigration. This actually hurt US consumers more than Mexico, where else can get cheap Mexican stuff? 

https://www.independent.co.uk/news/world/am...n-a8939761.html

Very Important

GOOG and FB got smacked down pretty bad today. Major indexes were green but now all red.
More downside to come for sure.

Day 4, market is stalling here. going to take profit, move into cash. 

Tomorrow, the US jobs numbers will be out. I don't expect it to be good since the private payroll numbers
were disappointing or DT will likely fire some unconventional tweets again to spook it.
Let see how it goes. 

Disclose or leave: US bill vows to delist even biggest Chinese players

NEW YORK -- Chinese companies may reconsider their U.S. listings after lawmakers in Washington introduced a bill that could see foreign groups expelled from U.S. exchanges, analysts are warning.

https://asia.nikkei.com/Economy/Trade-war/D...Chinese-players

With exception of Dow and SP500, Nasdaq still got about +2% more to go.

Tomorrow is Fed day, market anticipating rate cut and I think Fed will likely disappoint
with no rate movement. then we'll get a pull back. 

Next week, this extended meeting between Xi and Trump may end up with no deal, bam we'll go down hard again. 

Dunno why, at this level, I feel bearish again. Maybe too early. 

With better Unemployment Rate for month of June, there expectation to cut rate should be diminishing now.

I think it's nuts to have something call insurance rate cut just to satisfy the market when
the real economy is not having an indication of a recession.

So 3000 incoming...

This is becoming another most hated rally again.. general market is up, VIX is collapsing but small caps, materials, healthcare, energy and transportation not participating.

Not trusting this at all. Sooner or later, big mama bear will be out again. 

AAPL beats Q3 earnings, shares up 4%.

Revenue: 53.8b (actual) vs 53.39b (estimate)
EPS: 2.18/shr (actual) vs 2.10/shr (estimate)

iPhones sales (meets expectation): 23b (down 12% from last year quarter)
Services: 11.5b (up 13% from last year quarter), now approx 22% of revenue mix.

iPhones replacement cycle is getting longer and longer.

Apple getting into wearable for healthcare for more revenue and
also their next refresh cycle for 5G.

Looks like it wants to see 230 again soon and it may not care about China-trade issue at the moment.

Trump turns into bear attack tonight.. addl 10% tariff on 300bln of stuff.

Now we know why he wasn't happy with just that 25bps Fed cut. He got plans after all..