STOCK MARKET WATCH -- Tuesday, 26 September 2023

[Tansy_Gold]

STOCK MARKET WATCH, Tuesday, 26 September 2023

Previous SMW:
SMW for 25 September 2023



AT THE CLOSING BELL ON 25 September 2023


Dow Jones 34,006.88 +43.04 (0.13%)
S&P 500 4,337.44 +17.38 (0.40%)
Nasdaq 13,271.32 +59.51 (0.45%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:













Gold & Silver:






Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

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Quote for the Day:

On the one hand, the paranoid person reaches intensely for confirmation of his own anticipations. On the other hand, those same rigid anticipations of what he will find allow him to feel entitled to discredit and disregard apparent contradiction. Between these two attitudes, he is bound to "find" what he is looking for. In this process, intellectual capacity, keenness, and acuteness of intention become not guarantees of realistic judgment, but, on the contrary, instruments of bias.

David Shapiro. Neurotic Styles. Basic Books, Inc. © 1965.

This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[Warpy]

1. Shapiro was describing free floating anxiety

which is most likely behind a lot of people's attraction to Big Sugar Daddy who will protect them from evil, i.e. TFG.

True paranoia is quite different, it's the flip side to some sort of grandiosity. I knew one guy who got a small inheritance and absolutely knew his family was breaking into the hospital kitchen and poisoning his food. Another one knew he was getting messages in his sleep and had to keep moving, alerting the CIA with tinfoil wrapped messages when he could afford the stamps. Paranoisd delusions are quite specific, while free floating anxiety is not, it's a "bad feeling" looking for a rational target.

(In the former case I came up with a work around to get some nutrition into the poor guy and when he felt better physically, the docs finally got through to him that he needed some mental health care, and he signed himself in for that. In the latter case, it's someone I've known for 50 years and when I get tapped to contribute to bail money, I do. He's all bark and no bite)

[Tansy_Gold]

2. This is what happens . . . . .

. . . . when I open one of my books at a random place and something just jumps out and screams, "Post me! I'll spark a discussion! You'll see!"



I'm guessing it's been 10 years or more since I read this one, and it's not in my area of - cough, cough - expertise.

But we do pull technical terms out of their professional contexts and use them, usually in error to one degree or another, in common parlance. It's good to be reminded that just because we're paranoid, doesn't mean they aren't out to get us. It probably means we aren't paranoid after all.

[Warpy]

3. Hey, at least I was going after Shaprio, not you

TBH, they didn't know squat back in 1965. It was only a year later that I was handed a set of keys in a mental hospital and turned loose in an intake facility, so while some of the old antipsychotic drugs had come out, nobody knew quite yow they worked and were totally befogged when it came to brain structures and chemistry.

That job gave me my #1 rule for any interpersonal interaction: "Never argue with a crazy person." You'd be amazed by how much aggravation, frustration, and occasional danger that rule has extricated me from.

[Tansy_Gold]

5. That's part of the fun of having so many old books, too.

Like that 1905 Chicago Daily News Almanac. You can pick up the oddest yet interesting tidbits. I have a manual for nurses treating the insane, (c) 1886. Another on criminal sociology from about the same period. SEX AND SOCIETY: STUDIES IN THE SOCIAL PSYCHOLOGY OF SEX (c) 1907. All kinds of good stuff. Outdated? Sure. But still good material for discussion. . . . or laughs.

[bucolic_frolic]

4. The inner game of trading is loaded with confirmation bias

Last edited Tue Sep 26, 2023, 02:31 PM - Edit history (1)

You need eyes in the back of your head. Question every inclination in every direction, still you can get into adverse conditions rapidly.

I'm really only watching INTC, UBER, DIS, ABT, and NKE. These all have potential to drop another $4-10 as the fall correction and budget impasse bites. Disney and Uber in particular would be good long term plays.