Dollar General’s Post-Christmas Miracle
More of your opinions on reforming Congress:
Select Representatives and Senators by drawing from a pool of qualified candidates (able to pass citizenship test).
Limit terms to 6 years for all. Replace one-third of the House every 2 years and half of the Senate every 3 years.
Pay them all $100,000 per year for 10 years, the last 4 for them to resume private life.
This would save us all from political campaigns and useless political parties. Just a thought.
Another reader says…
1. Lower salaries
2. Pay into Social Security
3. REQUIRE them to participate in a group health plan (like the rest of the idiots who keep voting in the same ones for repeat terms)
A quick correction: members of Congress started paying Social Security taxes in 1983; prior to that, they were exempt from paying into or receiving Social Security benefits.
As for salaries, the average base salary for members of the House and Senate was $174,000 — plus benefits — in 2017. That hasn’t changed since 2009. (You’d think they were Goldman Sachs low-level execs, weathering the Great Recession as they did.)
Considering Congress is in session just 138 days out of the year, these public servants rake in $1,260.87 per working day. We guess calling them public grifters is too close to the truth.
Yeah, your moment of zen.
Boxing Why Dollar General’s still one to watch in 2019 — including a post-Christmas bump and an indicator that’s right in the sweet spot. le
We wanted to check in with Dollar General, a stock we mentioned way back in August. We said then it was one to watch — even taking a share of the market from retail giant Walmart.
On Wednesday, DG shares jumped 7.2%; sure, the Dow rose over 1,000 points and the S&P 500 gained 5% that day. Still, impressive.
So what happened Wednesday for DG?
Part of the jump had something to do with retail stocks as a whole. On Amazon’s press release detailing record-breaking holiday sales, the entire sector got a boost.
In Dollar General’s third-quarter earnings report, the company’s execs said it anticipated positive sales growth in each of its stores. Looking ahead to 2019, DG will…
- Open 975 new stores
- Remodel 1,000 existing stores
- Relocate 100 stores
Dollar General’s CEO says: “We believe our ongoing investment in high-return real estate projects, along with our strategic initiatives, will not only continue to drive long-term shareholder value, but will also allow us to further enhance our ability to serve our communities and our customers.”
Last, take a look at the RSI on the chart at 54.02.
The Relative Strength Index tracks the change of price movements. The RSI signals a stock’s overbought when above 70 and oversold when below 30. Dollar General’s right in that sweet spot.
Still one to watch in 2019.
Market Rundown for Fri. December 28, 2018
S&P 500 futures are up 7.75 points to 2,502.74.
Oil is up 53 cents to $45.14 a barrel.
Gold’s down $1.70 to $1,279.40 per ounce.
Bitcoin is up $23.27 to $3,669.59.
Have a great weekend. We’ll circle back Monday.
For the Rundown,
Your Rundown for Friday, December 28, 2018: