Chris Forte’s “Thoughts to Start the Day” – TGIF

Posted on June 3, 2022 by Scott Shuda

If you’re ready to tee it up this weekend with your buddies and put $10 on the line playing Nassau, Skins, or Wolf, or maybe the honor of buying drinks afterwards think about this. . .

Star golfer Dustin Johnson is being paid $125 million to join the Saudi Arabia-backed LIV Golf league.

$125 million dollars. 1. 2. 5. Seriously? That’s an eagle for his bank account. 

Other golfers have defected including Sergio Garcia, Ian Poulter, Kevin Na, Lee Westwood, and Louis Oosthuizen. They will participate in London’s LIV Golf Invitational Series, June 9-11.

Criticism is abundant regarding Saudi Arabia’s human rights violations. Legendary player Jack Nicklaus said he was offered $100 million to be an executive but said, “Zero interest.” 

What percentage of regular weekend golfing foursomes place wagers? Answer below. 

QUICKIES

*QuickLogic (QUIK) through the 50 and now 200DMA – Ashleigh Day

*QuickLogic Awarded New $3.0 Million eFPGA Contract

*WTI crude oil closed out May with its sixth straight monthly gain, resulting in the second-longest streak going back to 1983 – Bespoke Investment

*Bullish oil and gas on “de-Russification”, bearish metals on supply – Morgan Stanley

*Aehr Test Systems Confirms Financial Guidance of Revenues Exceeding $50 Million for Fiscal Year Ending May 31, 2022

*Why are there so few houses for sale? Would-be owners don’t want to become would-be buyers. Sellers enter the fray for a limited supply – you have to live somewhere, so homeowners are staying home – NPR Marketplace

*Copper is surging as China’s reopening lifts demand hopes

*President Biden wants to lower crypto’s energy and emissions footprint

*Semiconductor stocks have withstood the tech sell-off better than other sectors because many of them have remained profitable with strong free cash flows – Beth Kindig

*Warning: A global recession looks “inevitable” due to food and energy prices spirally upward – The World Bank

So when does the Wisdom of the Crowd on Breakout Investors say we should see the market return to a more positive posture? Good news, 85% say this calendar year, with 3Q22 being the most common prediction – Scott Shuda 

Chocolate chips vs semi chips? John Mowrey of NFJ Investment said on CNBC they expect a massive rally and are very bullish on cyclical vs defensive areas. Many companies like are trading at the deepest discounts since 2016 and buying back shares like crazy. Defensive Hershey recently traded at 30x earnings, Lam Research is growing at triple the rate of Hershey is trading at half multiple. 

YouTube this: Call With Management – Royale Energy Inc (ROYL), Thank you Ashleigh and Josh Ebben.

Answer: 80 percent of regular golfing foursomes bet. When golfing with strangers it’s rare. It’s about competition, fun and camaraderie. Many feel it helps them concentrate more. Country club pros say many golfers that take lessons don’t do it to be better, they just want to beat their buddies. 

“If you are caught on a golf course during a storm and are afraid of lightning, hold up a 1-iron, not even God can hit a 1-iron.” — LEE TREVINO

Good luck to all – Chris

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