Your Weekly Blip 6/12/20

Your Weekly Blip 6/12/20

Stocks rebounded after getting whacked yesterday. A Chinese official made conciliatory remarks regarding the recent tensions between the US and China. The Dow was up 477 points at 25,605. Trading volume was down. IBD still lists markets in rally mode but the number of accumulation/distribution days has increased a bit. For the week the Dow was down 5.8% after being up 6.8% the prior week. Tech stocks continue to exert market leadership but within airline, energy, banking and other more traditional sectors there appears to be pockets of value along with higher levels of volatility which is a historical anomaly because tech used to be the most volatile space in the world of investing.
Barron’s wrote an article on the growing global influence of Twitter. Shares of Twitter have been on upswing lately and yesterday they suspended 170,000 accounts belonging to Chinese entities. Twitter is banned in China but China, through an entity called “The 50 cent army” uses Twitter to push messages that are favorable to the CCP. The 170,000 figure included 26,000 accounts with direct ties to China with the rest being accounts that are linked off of those. Barron’s estimates that Twitter’s mobile app was downloaded a record 677k times last Wednesday and that active daily users in the US now exceed 40 million.
We had our venture crew meeting last night and 12 kids attended the zoom session with our new crew leader. We had 10

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