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October Sets New Records

Which one is fake?

Apple and Amazon warn that supply chain issues could impact profits.

American Airlines cancels 14-hundred flights over the weekend, citing bad weather.

All major stock market indexes hit record highs to finish October.

These are real news stories from mainstream media.  But one stands out to me as completely fake.  At least the reason for the cancelled flights.

A quick check of the nation’s weather reveals a sky as clear as a mask-free breather’s airways.  I would say American Airlines doesn’t want to fess up to the real reason it dropped flights, but I wouldn’t dare inject anything into the speculation.

But it’s true, despite Apple and Amazon warning supplies sitting off the coast of California are impacting operations, stocks continue to climb higher.

Strong profit reports propelling the S&P 500 to its 59th record high of the year.  Up 7% in October.  

More than 80% of earnings reports beat expectations.  That means companies made more money than the professional analysts said they would.  With 2-months to go in 2021, the 500 is up 22% so far this year.

That helped drive the Dow 6-percent higher for the month, its best month since March.  Year to date, the Dow is 17%,

The technology heavy NASDAQ turned in its best performance in nearly a year, up more than 7% in October.  For the year, a touch past 20%.

No matter what November brings, we don’t measure our long-term investing success by the passing of a calendar month.

We’re investors, not traders or speculators.  Unlike the geniuses last week who bid up the shares of Canadian company Meta Materials, thinking it was Facebook’s new corporate name, Meta.

They could’ve just bought some Metamucil.  The end product is very similar to Facebook.