Look out, Amazon! David Dennison is on the loose!
Earlier today, Bespoke Investment Group noted that “Turnaround Tuesday” is actually a thing. To wit:
If we only look at average weekday returns when the day was preceded by a +1% down day, Tuesdays have posted the strongest gains at 0.21 percent.
And look, that might well be borne out today, but because we’re cynical, opinionated bastards over here at Heisenberg Report, and because some mornings we just can’t get enough of the Trump humor, we weighed in on “Turnaround Tuesday” as follows:
"Turnaround Tuesday"… lol.
Trump is somewhere thinking: "oh is that right? ok, well let ol' Dennison think for a few minutes on this Amazon 'problem' and he'll let you know whether it's safe to buy this dip."
— Heisenberg Report (@heisenbergrpt) April 3, 2018
Note the timestamp.
Fast forward exactly 17 minutes and “heeeere’s Johnny!”
I am right about Amazon costing the United States Post Office massive amounts of money for being their Delivery Boy. Amazon should pay these costs (plus) and not have them bourne by the American Taxpayer. Many billions of dollars. P.O. leaders don’t have a clue (or do they?)!
— Donald J. Trump (@realDonaldTrump) April 3, 2018
He can’t let it go, and he’s not going to let it go, even after sending the stock careening to its worst day in over two years on Monday on the way to tanking the entire market.
And as for the broad market, both futs and cash S&P dipped below their 200-DMA (again) on Trump’s Amazon tweet. Do note the cryptic “or do they?!” at the end of that latest absurd broadside.
“Or do they?”
[to be continued…] https://t.co/TxKXJSEb2b— Thornton McEnery (@ThorntonMcEnery) April 3, 2018
Meanwhile, it’s worth noting that the average of the tech heavyweight VIX equivalents is at a two-year high (of course you already know this if you follow L.K.):
Sorry, but the one who has no idea is Drumpf. Don’t you wonder where he gets his information that he is constantly repeating in his tweets? I know that I pay sales tax on products I purchase from Amazon; I am a Prime Member which I buy each year and that entitles me to free shipping on all orders (and other great benefits) which does not mean that Amazon does not pay for shipping to me! I suggest he thinks they don’t pay the post office since someone told him “shipping is free” … that’s how this moron’s brain works.
I also believe he is extremely jealous of Bezos and only wishes his failing trump company could do even half as well! We know Amazon is big, right? So, how big?
Corporate offices are in 14 buildings in Seattle, Washington. There is no personal income tax in that state (and 8 other states also). Their sales tax is higher than states that do have a personal income tax. The sales tax in Washington state is 8.87% (6.5% state tax + 2.37% local tax). FYI, Texas is 8.25%, also has no personal income tax.
Then I went to Wiki to find out about their warehouse location(s). Amazon has warehouses in 29 U.S. states, in 92 cities and each warehouse employs hundreds of employees. Note that U.S. employees are granted shares of stock. They also have locations in 16 countries. They also own 3 other companies, Woot, Zappos, Audible.com. Clearly thousands of full time and part time employees depend on Amazon for income.
They are currently building 3 new towers in Seattle and the plans are named ‘Rufus 2.0’ — after a dog they had in the early days! Anyone who remembers that dog now and names the building plans after him cannot be bad! 🙂
Here ya go, read about Amazon! https://en.wikipedia.org/wiki/List_of_Amazon_locations