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Helping Not Helping
Home Depot HD 0.00%↑ reported today, missing on revenue by a material margin, which will no doubt cause the recession narrative to ripple through market chatterati. We don't believe this will knock Big Money off course; Big Money already knows if there is going to be a recession or not and has been buying since the October lows anyway. It also seems as though all those "helpful" hedge fund managers telling Twitter users to "Sell" or that the End Is Nigh in some other way - surprise surprise per their Q1 13F filings it turns out they have been loading up on growth stocks and in some cases the Ark Invest $ARKK ETF. Once again we exhort you to ignore anything you read for free from a Big Money "helpful" source since, as Tim Cook put it most eloquently, if the product is free, the product is you. And if a hedge fund big is on social media telling you to sell? You're most likely providing them with entry liquidity. Telling you to buy? You're the chosen provider of exit liquidity. Either which way, to use another way of putting it, if you don't know who the patsy is? You're the patsy. So, do your own work, use your own mind, ignore talking heads. Make mistakes by all means but at least don't be a provider of liquidity to Big Money.
And with that ... onto our daily update.