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A common expression in the 60s and 70s, the title is an idiom used to convey, “Acting in a way that is likely to cause trouble.”
If there is one thing we should remember about a bear market, it is that during one, bull “relief” rallies can be vicious. Vicious would translate into making us think the market has turned around, made a bottom, and the bear market is done.
The quagmire we find ourselves in: Will economic contraction continue or is there a light at the end of the tunnel for monetary policy? Recession or no recession? Has inflation peaked? And the most dubious boggle of all – wrangling the markets since 2008 – is speculation and worry over what the almighty FED may do.
The time is now for the broad market rally to gain a following
It’s a bear market. The trends make that assertion, not me. But as noted in an NFTRH update on July 28th…
FOMC came. FOMC laid a .75% egg. FOMC rode off into the sunset until September. Meanwhile, signs of global economic contraction continue to crop up as the Fed fights the last war. And………
The favored strategic play has been that the Fed drops its July rate hike on the market and may be done. However, if ‘inflation trades’ like commodities and signals like inflation expectations, Treasury yields and the Silver/Gold ratio rise strongly enough it may compel the Fed to hawk again. That remains to be seen. But there is a window now. That window is July 27 to September 21, when the micromanaging market regulator eggheads meet again.