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Televised Tuesday – Money Talk Portfolio Update

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Down we go!  

As you can see from the chart, the Russell 2000 is almost back to where we were in March, which is only a bit above where we were in January, which may mean that all this rallying on nothing at all has been a huge mistake and people may be waking up and realizing that it’s not just Dogecoin that’s a hustle but the entire stock market bubble.  Are people beginning to realize that a truly good investment is one that returns profits that stay ahead of inflation over time and not just empty promises of an uncertain future?  Nah.

I must apologize to Elon Musk for pointing out yesterday that Tesla (TSLA) is also a scam – that stock hasn’t stopped selling since and it’s dropping like Dogecoin, back at the March lows in pre-market trading.  Aside from Mush admiting Dogecoin is “a hustle” on Saturday Night Live (see yesterday’s report for full coverage), the catalyst for the sell-off is Tesla’s very poor April performance in China (which accounts for 1/3 of TSLA’s sales) with only 25,854 cars sold, down 27% from March AND they abandoned plans to expand the Shanghai plant – a sign TSLA doesn’t see their sales bouncing back as electric car competition heats up in China (and globally).

At a recent Chinese Auto show, an unhappy customer clambered atop a Tesla to protest the company’s handling of her complaints about malfunctioning brakes.  Videos that went viral showed a woman wearing a T-shirt emblazoned with the words “The brakes don’t work” and shouting similar accusations while staff and security struggled to restore calm.  Police in Texas are investigating a fatal crash involving a Tesla Model S that hit a tree and burst into flames.  Rescuers found victims in the passenger and rear seat, not the driver’s seat but TSLA claims the car was not on auto-pilot. Federal regulators are investigating the crash, and have a total of 24 probes underway of accidents involving Teslas operating on Autopilot.

All these were known issues with TSLA but that hasn’t stopped people from buying the stock for as much at $900, close to $1Tn in market…

Provided courtesy of Phil’s Stock World.

To read the rest of this article now, along with Phil’s live intra-day comments, live trading ideas, Phil’s market calls, additional member comments, and other members-only features – Come to the winning side at Phil’s Stock World by clicking here.

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Source: https://www.philstockworld.com/2021/05/11/televised-tuesday-money-talk-portfolio-update/?utm_source=beforeitsnews&utm_medium=feed&utm_campaign=psw-feeds&utm_content=article-link


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