When I woke up, all the markets were red anyway, but I decided to sit tight and wait for the PCE (which is the favorite inflation report of the bureaucratic Bozos at the Fed), and, well, see for yourself.
Yep. Inflation came in 50% HOTTER than expected, which at least gets us a little closer to the truth. Real inflation is, in my experience, 30% to 40%, so at least we can get the Fed to acknowledge that it isn’t 6%, but, golly gee whiz, maybe even 8%.
In any event, if you doubted the broken trendline I excitedly pointed out yesterday…………..
I am fairly aggressively positioned right now, although I do have a little cash left over. See, my two modes of operation are:
- Bitching and screaming about how the market won’t go down, or
- Whining and self-flagellating about the fact I sold positions that I wish I had not sold
I am firmly in camp (2) right now.
