An interesting chart, GM and PCAR has historically moved in the same direction, PCAR makes semi trucks. The past year there has been a major divergence between the two stocks.
Something has to give though.... either we go into a recession and PCAR goes down or we don't and GM goes up. Expect this gap to close in one direction or the other. I still think a recession is the only way out for the Fed to get rid of their MBS, not entirely convinced they have the balls to do it.
This is why I've been rather cautious on trading PCAR. Figured I'd post this chart since I've been bullish on PCAR for the past year. Plus the stock tends to be weak after Q4 earnings, usually until Q2 earnings.
Something has to give though.... either we go into a recession and PCAR goes down or we don't and GM goes up. Expect this gap to close in one direction or the other. I still think a recession is the only way out for the Fed to get rid of their MBS, not entirely convinced they have the balls to do it.
This is why I've been rather cautious on trading PCAR. Figured I'd post this chart since I've been bullish on PCAR for the past year. Plus the stock tends to be weak after Q4 earnings, usually until Q2 earnings.
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CAT missed and GM beat so maybe the divergence closes a bit here in the next few days. PCAR has been trending more with industrials like CAT than with auto like GM/TSLA/F