Loading ...The straw that breaks the camels back…?!
Euro…up! Stocks…up! Gold…up! It’s the promised land, yee haw!!
The way I’ve been viewing this latest move is as an ‘inflation subsiding’ rally. The question remains, ‘why has inflation subsided in CPI and wholesale numbers?’ Can it really be that the Fed has conquered inflation and the economy is still strong, problems solved?! Me thinks not.
Big shout out to Nightingale. It could be confirmation bias getting the better of me, but I really appreciate the charts and view.
Tomorrow, retail sales will be released. My thinking is that it’s the straw that crumbles the parabola to dust. What if CPI and wholesale inflation numbers have come down because the recession has arrived and the consumer is not as resilient as the kool aid has everybody believing?
I guess we’ll see tomorrow. If I’m wrong, I’ll have some shorts to close and I’ll be changing the ones I’m wearing…F$#@%K!
Appreciated Hermit!
I always enjoy Nightingale’s charts and analysis. Prevents me from hysteria so I keep a good amount of gunpowder in reserve. Just in case. And add a put now and then…
Shorts aren’t ripe ATM.
They COULD have been, from the inflection point we reached yesterday.
My take on trouble is that FJB wants to refill the SPR.
(Meanwhile, he’s still drawing it DOWN!)
As soon as that curve curls back up …. look out.
No more CPI headwind.
He’ll probably kick it up right as we near summer driving season.
There’s also more LNG for yurp soon.