Russia Warns MuskCould be a bad day for the SP. Russia warned Musk by name to stop helping the Ukrainians through Starlink. Musk tweeted...."If you don't see me around-you will know why"
SP down almost 4% in premarket.
Soooo...Would this be a buying opportunity?
Probably except for the fact that the probability of a world-wide recession is becoming very real and this will negatively affect the SP of all companies - good and bad. Growth in the US was negative in the first quarter and if 2Q is the same then we are definionally in a recession.
Inflation in the US last month was 8.5% but that was with a couple of not so bad months at the front end, the next few months will likely see a rise into double digits and real wages declining into the mid to upper single digits (not good).
So what I am doing?
In anticipation of all this, I have been overweighted cash, currently sitting at 25% and have shifted my portfolio to be more defensive than it was.