STOCK MARKET WATCH -- Wednesday, 16 August 2023

[bucolic_frolic]

1. Sea of red ink today

Last edited Wed Aug 16, 2023, 05:49 AM - Edit history (1)

Value and growth both took a hit. In my watchlist everything moved to a destination by 11 am and pretty much stayed there all day. This has the look of a lack of buying that will continue for awhile, at least to me, a grind down where increasingly investors decide to raise some cash and take a little off the table, and then a little more, and hit me again.

So as it turns out on a deeper dive, ETRADE from Morgan Stanley remains the same except for their managed portfolios which become Morgan Stanley Smith Barney. Seems like every bank is rebranding, new platforms being installed. I suspect this is security based. How did this all happen this summer?