I'm grateful for those who say that they like to short everything I like because crow is a dish best tasted cold, and are they ever eating a ton of it.
What if Beijing plays the power game with foreign firms reliant upon Chinese revenue, Chinese labor, or simply Chinese economic growth?
What's with this stark dichotomy? How can we be so at odds? It all has to do with COVID and herd immunity.
This week will tax your brain. Your ability to focus on what really matters will be tested.
Normally DHI would be jubilant with the level of demand they are seeing. Not this time.
Plus, what could be next out of the central banks and Congress and how it could affect Treasuries.
We are a nation divided between those who are rabid to take the vaccine and those who are not.
And don't let anyone tell you otherwise.
Also, there's reason to turn J&J's one shot jab into a two shot vaccine just like the rest.
Is this a short term deflationary setback or the start of a more ominous trend to emerge?
Caution remains the order of the day.
There's no way to disguise investor sentiment when, for the week, the four defensive sectors easily take the top four slots.
The Russell 2000 is now down not just back-to-back sessions, but six sessions in the last eight with all six of those "down" days having given up 0.9% or more.
One such name is GrafTech International, which should be aided by a rebound in spot graphite electrode pricing.
Decide what you think the inflation story is going to be and position accordingly.
Traders are looking for an edge, but there just isn't enough volatility to do much.
I remain short bonds based on the view that current yields are too low and don't accurately reflect the likely trajectory in inflation and economic growth.
Remember, cash flow never lies.
Contrary to popular belief, this economic recovery that we seem to be enjoying has hit a pressure point.
Plus, the latest monthly ISM Manufacturing survey sends a disturbing signal about prices and a quick option play thought about Veeva Systems.
Issues of concern include a high level of IPOs sopping up liquidity and persistent labor and supply shortages impacting business.
However you slice it, total labor supply doesn't seem to be in recovery mode.
Everyone knows inflation metrics greatly understate what is going on in the real world. And everyone knows the Fed knows this as well.
I see mounting inflation concerns, an improving job situation, and value beating growth.
Perhaps the most important intermarket relationship is the correlation between crude oil and the S&P.
The bears are on the wrong side of the action again.
It happened around May 12, but strangely, it's finally being talked about and noticed right now.
Here's a challenge to the bond bear thesis.
But will that be the case by the fall?
The worries about inflation have been forgotten, and now we have the Nasdaq back at a new all-time high.